Word: lippmann
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...stoppage dated back to the war. When the Germans overran The Netherlands in 1940, they helped themselves to a giant Dutch treat: all Jewish-owned stocks, bonds and other assets were expropriated and deposited with a Nazi-controlled company which took the name of Amsterdam's famed Lippmann, Rosenthal & Co. For a while, the Nazis' Lippmann, Rosenthal preserved the myth of Jewish ownership, credited the original security owners with accrued dividends. But the myth was short-lived. Lippmann, Rosenthal soon joined the Amsterdam Stock Exchange and began trading in the expropriated securities for its own account...
Since then a government-appointed council has been plodding through a morass of title switches, and returning the securities to the original owners. The government ruled that if the stocks and bonds were bought in "good faith," i.e., without knowing that Lippmann, Rosenthal had put them on the market, the buyer could keep them. But it never faced up to the question whether stockbrokers, as they claimed, had little choice but to deal with Lippmann, Rosenthal in order to stay in business...
Last week the council finally handed down a decision on this problem, based on the sale of a single share of timber stock, worth $172. Said the council: since the broker knew that Lippmann, Rosenthal had put the stock on the market, the sale was illegal; the stock must be returned to its original owner. At the news, the Amsterdam Stock Exchange stopped issuing quotations and thus, in effect, stopped all trading. With thousands of similar stock titles now up in the air (most U.S.-held Dutch securities have clear title), the exchange would not accept responsibility for any further...
...Pulitzers sold the paper, he carried his crusader's banner over to the Herald Tribune. With the Roosevelt revolution, Washington really became the capital of the U.S. A columnist who forms opinions must keep in touch. Only in the capital can he find the stamp of authority. Mr. Lippmann moved to the capital...
...mostly his contacts come to him. Very important persons are pleased to be invited to dinner (black tie) with the Lippmanns on Woodley Road. When the guests step out of their cars, the cathedral rises behind them, hazy above the street lights. In the long drawing room, they find drinks, a very important person seated beside the fire, respectful black poodles tethered under the piano. At dinner, it is on Mr. Lippmann's right that the very important person sits, and the charming intellectual lady on his left. After dinner there's some leg stretching. The ladies flow...