Word: wiggins
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...even the stately halls of the world's largest banks are free from corporate ghosts. For almost a year one of them has lurked disturbingly in the recesses of Chase National Bank. Were it articulate this ghost might well have slid into the offices of Governor Albert Henry Wiggin and whined: "I am the ghost of William Fox's mismanagement of Fox Film Corp. I was created during the wild days of 1929 when he expanded quickly and without funds. Last year I was temporarily silenced when Fox Film fought off receivership by selling $55,000,000 notes...
Knowing well what the ghost might be saying, knowing well how much was at stake. Wall Street guessed that Banker Wiggin, hero of many emergencies, would rise to the occasion. Yet how he would do it remained a mystery for many months. Even eleven days before the notes fell due they sold $2 below par, indicating there was still considerable doubt on how the problem would be handled. Last week, however, shrewd Banker Wiggin was glad to announce a ghost-laying party. The notes were redeemed as promised...
Withdrawal. Last year when Fox Film was hovering near receivership, its old bankers, Halsey, Stuart & Co., put up a marvelous fight. But this year Halsey, Stuart & Co. did not behave as intrepid ghost-layers should. On the eve of Mr. Wiggin's party an announcement was made that Halsey, Stuart & Co. had retired from the entire proceedings. Wall Street became a little more nervous. The ghost, it seemed, must indeed be a big ghost if Halsey, Stuart & Co. backed out, for the firm was one of the first houses to finance motion picture enterprises. Rumored as the chief reason...
...making friends with great men. Sober-faced Will Rothenstein was as thrilled at chatting with Degas, dining at the Cafe Royal with Oscar Wilde, going to the Moulin Rouge with Toulouse-Lautrec, as a young U. S. executive might be at lunching with Sidney Zollicoffer Mitchell or Albert Wiggin. After four years in Paris he was sent to Oxford to do a series of portraits of famed Oxonians. Wrote his friend Max Beerbohm...
...industry are not coming down." He argued against any wage-reductions: "It is my deliberate judgment that a general reduction of wages in this country would set back the impending recovery by at least two years." Alert listeners realized that this viewpoint directly opposed that expressed by Albert Henry Wiggin when he spoke to Chase National Bank's stockholders last fort night (TIME, Jan. 19). "Dead Centre." Owen D. Young, chairman of General Electric Co. and Radio Corp. of America, also had a brief word to say last week. Members of New York State Bankers Association felt like cheering...