Word: whitneys
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Dates: during 1930-1939
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...ticker tapped out the first sale-100 shares of Lehman Corp. at $25.50 per share. The market was dull. Suddenly the bell rang again, bringing trading to a sharp halt. As a man the hushed brokers turned toward the rostrum to hear an astounding announcement: the firm of Richard Whitney & Co. was unable to meet its obligations...
...brokers could not believe their ears. Indeed, as the report shot through Wall Street it was not believed until the Stock Exchange issued a public statement. For Richard Whitney was the Depression president of the Stock Exchange, is a brother of Morgan Partner George Whitney. Richard Whitney & Co. had always been known as "the Morgan brokers." It was in behalf of a Morgan banking group that Richard Whitney strode across the floor to U. S. Steel post on a dark day in 1929 to bid $2.05 per share for 25,000 shares of steel -15 points above the market. That...
...been Richard Whitney who had led the Stock Exchange's long and losing fight against Government regula-ions-wrongly, according to some, gallantly according to all. Yet the curt Stock Exchange announcement declared last week that there was "evidence" that this Groton-bred Harvard man's company had been guilty of "conduct apparently contrary to just and equitable principles of trade." The Street promptly cracked in its usual savage humor that "Snow White had become a Dwarf...
...indicted on charges of grand larceny, Whitney is said to have misappropriated $108,000 as a co-trustee of a trust fund belonging to his wife's family, Sheldon by name, and benefiting among others Harvard University...
...gathered from University officials that when George R. Sheldon died almost twenty years ago, Harvard was told that it stood a slight chance of receiving anything from the will, since the estate was inextricably tied up with Mr. Sheldon's family. Thus the University has lost nothing by Whitney's alleged theft...