Word: harriman
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Dates: during 1930-1939
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Next day Cord's most potent proxy-committeeman, white-haired Speculator Frank Arthur Vanderlip ("The Grey Ghost of Wall Street"), called at the office of young Banker William Averell Harriman, who lately left Avco's chair (TIME, Oct. 31). Presently they summoned Avco's new Chairman Robert Lehman, President Cohu, and Cord's hard-bitten Vice President Lucius Manning. From noon until nearly midnight they argued, bartered. Then, on terms which will doubtless remain secret, they emerged with a truce: the Avco board shall be reduced from 35 to 15. Five will be chosen by the present regime (probably Harriman...
...everyone knew, what Mr. Cord meant by the "reigning clique" was the group centering about Banker Harriman and his good friend Robert Lehman. W. A. Harriman & Co. and Lehman Bros, headed the bankers who raised $38,000,000 for Aviation Corp. when it was formed in 1929. Friends of Banker Harriman understood that he aspired to be in aviation what his late famed father was in railroading. At the outset the Aviation Corp. structure was loose. Its subsidiaries numbered 80, included unrelated small lines, charter services, schools, factories. (The list is now about 20.) The company grew...
...outcome of the battle appeared to hinge largely on the success of the Harriman-Lehman group in rounding up proxies from the many substantial stockholders known to them. Banker Harriman himself had begun to withdraw from the aviation scene. Last month he resigned as Avco board chairman, was succeeded by his friend Banker Lehman (TIME, Oct. 31). About the same time Harold Ellstner Talbott Jr. resigned the North American Aviation chairmanship. His place was filled by George Newell Armsby, chairman of Bancamerica-Blair Corp. which sponsored North American. Guessers everywhere tried to connect the two resignations with the presence...
Died. Mary Williamson Averell Harriman, 81, philanthropist, relict of Railroadman Edward Henry Harriman (died: 1909) who left her $100,000,000, in Manhattan...
William Aver ell Harriman resigned as chairman of Aviation Corp. to devote more time to his chairmanship of Union Pacific Railroad. He was succeeded by Robert Lehman, 41, his classmate at Yale (1913), partner in Lehman Bros., second cousin of Herbert Lehman, Democratic candidate for Governor of New York...