Word: sweringens
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...Representative Bertrand H. Snell naturally demanded an investigation (TIME, June 21). Last week, while Representative Snell's resolution remained securely pigeonholed by the House Rules Committee, the subject of the campaign books cropped up again, this time in the Senate Committee on Interstate Commerce investigation of the Van Sweringen railway system. By the time the railroad investigation got back on the track, the campaign books had taken up the better part of three days' hearings, made most of their headlines, been threshed out almost as thoroughly as they would have been in an investigation of their...
...during which its chairman, Montana's Burton K. Wheeler, was busy with the Court fight, was Broker Robert R. Young of Manhattan. Most sensational development of the week was that 40 year-old Broker Young, who with his partners Kirby and Kolbe acquired control of the huge Van Sweringen railroad empire by buying a majority in Alleghany Corp. for a mere $6,000,000, had less shrewdly spent $15,000 for 60 campaign books which he had then "scattered all over Texas and Oklahoma among my friends and relatives." Said unhappy Broker Young, whose presence in Washington had forced...
Although Senator Wheeler grumbled because Broker Young had not ousted leftovers from the Van Sweringen regime and complained that U. S. railroads are controlled by men who lack practical experience, the net summation of a week's rail-road investigation was the chairman's sharp comment on the campaign books. Said he: ". . . I resent the Democratic Committee going to people just prior to their coming here, and soliciting funds. . . . It might give the impression that people had to give money to get proper treatment...
...breezy Rockefeller Center Luncheon Club. There one sweltering day last week, after a few rounds of cool Budweiser, some 35 financial newshawks sat down at a long table as the guests of Robert Ralph Young, amiable spokesman-member of the trio which bought control of the Van Sweringen railroad empire from George A. Ball, the Muncie, Ind. fruit-jar tycoon (TIME, May 3). It was quiet Mr. Young who described himself and his two partners-Allan P. Kirby and Frank F. Kolbe-as "just babes in the woods." Last week the "Babes" started out of the woods. Before the luncheon...
...Chesapeake had a far better name with the public, and Messrs. Young, Kirby & Kolbe have demonstrated an uncommon flair for public relations. To newshawks last week Mr. Young handed photostats of the chart used by the Wheeler committee during the Washington hearings on the Van Sweringen empire. Through all holding companies which have been, or would be, segregated or eliminated on completion of the Alleghany-Chesapeake merger, Mr. Young had drawn heavy black lines. Crossed out were 17 non-railroad holding companies and Midamerica Corp., the tiptop unit set up by Mr. Ball. Today The Chesapeake Corp. owns about...