Word: amadeo
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Profits. Two huge holding companies last week revealed proportionately huge profits. Transamerica Corp., holding company for the $1,167,116,000 worth of banks that Amadeo Peter Giannini managed to gather together before he retired this year, in its 1929 earnings statement, set down its net profit for the year at $67,316,000, or nearly $3 per share on the 24,000,000 shares outstanding (now selling at $26). However, the management holds "it would be lacking in ordinary business prudence" to ignore the current depression, plans to cut the October quarterly dividend from 40¢ to 25¢ a share...
Died. John Hathaway ("Jack") Skinner, 60, vice president of the San Francisco Bank of Italy, long its joint manager with now-retired Amadeo Peter Giannini; after a two-month illness; at San Francisco...
...Hearstpapers' publisher) gave the Women's Gymnasium and many a scholarship. Across the stage of the famed Greek theatre runs the legend: THE GIFT OF WILLIAM RANDOLPH HEARST. Two sons of Publisher Hearst, who also gave the Mining Building, matriculated at California: George and William Randolph Jr. From Banker Amadeo Pe ter Giannini (Bancamerica-Blair) came the Giannini Foundation of Agricultural Economics. From Miss Ellen Browning Scripps (Scripps-Howard newspapers) came the Scripps Institution of Oceanography. Soon to be opened is an international house?similar to one in Manhattan and to one abuilding at the University of Chicago?...
...said he would do, Amadeo Peter Giannini, potent branch banker, founder of Transamerica Corp. (world's biggest bankstock holding company), upon arriving last week at the age of 60, resigned from all his far-flung enterprises. Testifying before the House Banking & Currency Committee, said he: "Branch banking is coming and you can't stop it. You can't block economic progress. You're against a stone wall. Small communities are drying up. They don't need small unit banks. Farmers drive over paved roads to the larger cities to do their banking...
...Amadeo Peter Giannini, founder of Bank of Italy, went with his wife and son to Mayo Brothers' clinic at Rochester. Minn., for a thoroughgoing physical examination...