Word: whitneys
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Dates: during 1930-1939
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Biggest explosion against the new taxes came from Mr. Whitney and the stockbrokers. Pointing out that in addition to a Federal tax of 4? a share on stock transfers, New York State has also a stock transfer tax of 4?, he prophesied that the city's additional tax of 4? would drive security traders to do their business in other markets. Pointing out further that except for July and August 1932, and for May, June and July 1933 brokers have had three incredibly lean years, he declared that the tax on brokers would put many a brokerage firm...
...same day Mayor Meyer C. Ellenstein of Newark, N. J. wrote Mr. Whitney a letter inviting the New York Stock Exchange to move across the Hudson River. Governor A. Harry Moore of New Jersey seconded the invitation with the promise that New Jersey would place no taxes on brokers...
...Brother of Morgan Partner George Whitney...
...last week tax-harried members of the New York Stock Exchange stopped trading long enough to hear President Whitney solemnly announce a suspension -first in more than a year. To the members assembled and to U. S. citizens young & old, the name that President Whitney uttered was associated not with banking or finance but with cowpunching. Partner John Batterson Stetson Jr. of Philadelphia's Stetson & Blackman is the son of the founder of John B. Stetson Co., whose hats were (and still are) as much a fixture of the cow country from Athabasca Landing to the Strait of Magellan...
...firm with a Philadelphia banker, Daniel S. Blackman. Broker Stetson, who was reported to have put up the capital, became the floor member. Last week although receivers listed Stetson & Blackman's liabilities at $274,000, assets (including Broker Stetson's Stock Exchange seat) at $322,000, President Whitney said that "it is in such financial condition that it cannot be permitted to continue in business with safety to its creditors...