Word: walls
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Dates: during 1960-1969
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Died. Sidney Weinberg, 77, financial giant who deserved the sobriquet "Mr. Wall Street" (see BUSINESS...
...scurried to raise new funds to meet New York Stock Exchange capital requirements, McDonnell & Co. went so far as to sell one of its three seats on the Big Board. The sale brought only $375,000, which represented a $140,000 drop in seat prices since April. Other Wall Street firms that have had capital difficulties include Nuveen and First Hanover Corp...
...account for Sidney J. Weinberg's success by saying that he was a nice guy seems singularly naive. His achievements and influence were far too extraordinary for so simple an explanation. For decades he was Mr. Wall Street, the director's director, the master floater of securities issues, the headhunter who as Washington's top-dollar-a-year man brought hordes of high-powered executives to the capital to organize and run the World War II and Korean mobilization efforts. He served as informal financial adviser to five Presidents, from F.D.R. to L.B.J., and was at different...
Weinberg was the son of a Polish-born liquor dealer, and his formal education ended with graduation from P.S. 13 in Brooklyn. The short, bespectacled Jewish boy began his career during the Panic of 1907 by going to a Wall Street skyscraper, knocking on the door of every office and asking if the company needed help. When he got to the Goldman, Sachs office, he was taken on as a porter's assistant. A large part of his ability to win financiers' confidence was that he not only did not hide this background but even exploited the curiosity...
According to Wall Street legend, the head of a rival firm once impressed directors of a company about to float a securities issue by bringing his father, a revered financier, to a sales presentation. Weinberg, tipped by telephone that he had better do something quickly, hurried to the meeting. His opening words: "I'm sorry, gentlemen. My father is dead...