Word: yachting
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Dates: during 1930-1939
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...Rosenthal revealed that Richard Whitney had established "Richard Whitney's stock control account" in January, had transferred big batches of customers' securities to it, then apparently hypothecated them for personal loans. The first such transfer revealed was $125,000 worth of securities belonging to the New York Yacht Club. Other revelations: Dick Whitney had an unsecured loan of $474,000 from J. P. Morgan, his Far Hills estate was mortgaged in September for $300,000 and the total Whitney loss on Distilled Liquors was about $1,600,000. Said Dick Whitney that evening: "I want to say emphatically...
...next day, while Dick Whitney was consulting his lawyer - Charles Henry Tuttle, 1930 G. O. P. candidate for Governor of New York-the Attorney General's office did make a grab for his body. Commodore William A. Stewart of the Yacht Club wanted the club's securities back. Missing now was a total of $109,384 in securities the club had trusted to Treasurer Whitney. Assistant Attorney General McCall found them at Public National Bank as part collateral for the Whitney loan, and, as the Daily News's news section put it, "Richard Whitney ... for the second...
...ardent small-boat sailor. Franklin Roosevelt naturally conceives of the ship of State as a small yacht, steered by a hand tiller which, to keep the boat on a straight course, the skipper must shift as the wind changes. Said the President: A year ago when inflation threatened, the helm was shifted far to starboard. Last autumn, warned of a threatened deflation, the Administration put it hard to port. While his listeners were trying to calculate what, if anything, all this meant in terms of political Right & Left, the President made his main point: that to regard a shift...
...arrived in Honolulu aboard his trim ketch Novia Del Mar. Mr. Scripps, frail in his youth but strong in later years, confided to friends that he feared he would some day bleed to death. Last week that grave fear became a fearful fact. Stricken with another hemorrhage while his yacht rolled in Magdalena Bay, Lower California, Robert Scripps died...
...months the Jeannette sailed north. A reconditioned yacht, fitted for Arctic service by a sheathing of heavy planks, she could make four knots with her engines, six with her sails in a good breeze. But under sail she could scarcely be managed, and her engines used five tons of coal a day. Owned by Bennett, she had been commissioned by the Navy. Bennett paid the expenses of the trip although naval officers were in command and even the correspondents sailed as U. S. Navy seamen. Naval engineers shook their heads over the Jeannette, reported skeptically that "so far as practicable...