Word: wiggins
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Dates: during 1930-1939
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Gravy. In February 1931, Murray Witherbee Dodge was a vice president of Chase Securities Corp. and Albert Wiggin was chairman of Chase National Bank. Mr. Dodge sent a memorandum to Mr. Wiggin, said that Kuhn, Loeb & Co. might be brought in on Fox financing, added, "I am loath to do [this] unless necessary, as the splitup of the gravy would hurt my feelings." Faced last week, with this memo, Mr. Dodge at first claimed that by gravy he had meant prestige...
Today, Mr. Fox, Mr. Wiggin and Mr. Hoover have the common bond of being ex-presidents and Mr. Dodge is an ex-vice president. Harley Clarke's General Theatres Equipment company is in a receivership and so is Fox Theatres. Loew's, Inc. (and Metro-Goldwyn-Mayer), again independent, remain solvent and prosperous, having made a profit of $4,034,000 for the year ending Aug. 31, 1933. But the disputed 660,000 shares of Loew's. Inc. (the majority holdings bought by Mr. Fox) have been segregated by the U. S. Government. They may be sold...
...syndicate, and the balance was allotted among such friendly interests as the security affiliate of Chicago's Continental National Bank & Trust (now Continental Illinois National Bank & Trust), the bank's Chairman Arthur Reynolds, and Promoter Archie Moulton Andrews. Some of the participations were subdivided and Albert Henry Wiggin's family-owned Shermar Corp. got one-third of Chase Securities' allotment and in the end an $877,000 profit.* No cash was required, for the purchase price was paid as the stock was sold to the public. A separate syndicate was formed to make the market...
...Wiggin & Clarke. The Senators had even more trouble following their inquisitor's next revelation, for he led them through the tropical financing of General Theatres Equipment, Inc. Under the swift hand of Harley Lyman Clarke, who had previously garnered a fortune in utility promotion, G. T. E. swelled from a small concern with a promising film projector into an overripe holding company controlling among other things Fox Film Corp. Its decline & fall pulled down the old stock exchange houses of Pynchon & Co. and West & Co. and cost Chase Bank more millions than Mr. Wiggin cares to remember...
...that they may shed some verbal illumination on their financial practices. An added horror was lent to the announcement, when the financiers beheld their fellow martyr, Mr. Harvey L. Carke, most unwillingly damning himself by his own testimony, and when they shudderingly recollected the amazing confessions dragged from Mr. Wiggin and Mr. Morgan on the same stand. While Mr. Clarke could not compare with Mr. Wiggin in the variety and scale of his operations he nevertheless did quite well in his own small way. In 1929 the genial Harvey organized the General Theatres Equipment, Inc., to take over the business...