Word: partnerized
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...prices, Prince & Whitely had obfuscated its true position on June 30 when the Exchange sent out a questionnaire. The rest of the indictment concerned the relationship between Prince & Whitely and Prince & Whitely Trading Corp., an investment trust sponsored and managed by the firm. The Exchange found that Prince & Whitely partners, as directors of the trading corporation, had caused the corporation to lend $1,500,000 on an unsecured note of J. M. Hoyt & Co. J. M. Hoyt was the senior partner in Prince & Whitely, and the $1,500,000 was used to better the position of J. M. Hoyt...
...this was that each stockholder may claim his proportion of the holdings, or else direct it sold or held as he sees fit. Philadelphia. Another failure which was direct aftermath of the September decline was that of C. Clothier Jones & Co., New York and Philadelphia brokerage house whose socialite partners include Richard Norris Williams II, onetime U. S. tennis champion. Each partner has been charged with fraud, four are out on bail. The firm was a member of the New York Stock Exchange, was suspended while Partner Jones was on his way to New York, delayed by New Jersey grass...
...offices of Drexel & Co., Philadelphia associates of J. P. Morgan & Co., there is an upstairs room on the walls of which are large maps. When Drexel-Partner Thomas Newhall is talking about Philadelphia & Reading Coal & Iron Corp. (he is chairman of the executive committee, also a director), he is very likely to take his listener to this room, punctuate sentences with references to the maps...
...after 1923, it is safe to say that PRC's bankers, Drexel & Co., were not especially proud of these properties. Production fell off, profits came hard, sometimes did not come at all. In the opinion of coalmen, statisticians and investors, PRC was definitely on the downgrade. Now Drexel-Partner Newhall is very apt to feel proud when he points to PRC maps. A noble experiment seems to be working...
Thus last week PRC perhaps moved a step nearer prosperity. And Drexel-Partner Newhall had new things to tell about PRC. But the anthracite road has become rough. Although most of the consumption is by domestic users (80%), therefore relatively steady, these users have been hard to hold. One reason is that the coal companies have had difficulty in making regular deliveries. This has made the consumers ready to accept such substitutes as gas, oil. Then too, imported coal has been mounting. The U. S. S. R. and Wales have been leading foreign sellers of coal...