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Many years ago the late Captain James C. Corrigan bought vast iron ore fields in the Lake Superior district. The late Frank Rockefeller, brother of John D. Rockefeller and the late William Rockefeller, was his partner. John D. Rockefeller loaned them money, taking a mortgage on the ore lands. He foreclosed the mortgage for needs of his own and later sold the minerals to the U. S. Steel Corp., prof iting greatly. Captain Corrigan was wrecked financially. Frank Rockefeller nourished an antagonism toward his brother John...

Author: /time Magazine | Title: Business & Finance: Corrigan-McKinney | 2/13/1928 | See Source »

...Corrigan employes was Price McKinney, energetic bookkeeper. He was trusted and deserved the trust. At the beginning of the century he became a partner and the firm name became Corrigan-McKinney. When "Young Jim," prancing rich man's son, tripped into scrapes, the partners rescued him and up braided him. Captain James C. Corrigan died in 1908, having named Price Mc Kinney trustee of his estate. To his son he left only $15,000 unrestricted. Millions were in trust. The young man (he was 29 then) continued playing richly about, was sued for "breach of promise" by a Pittsburgh...

Author: /time Magazine | Title: Business & Finance: Corrigan-McKinney | 2/13/1928 | See Source »

...Steel (assets $2,500,000,000 ingot capacity, 23,035,100 tons) and Bethlehem Steel (assets $650,-000,000; ingot capacity 7,600,000 tons).* These mergers are virtually consummated. Others are possible (TIME, Dec. 5). Mr. Eaton is worth $50,000,000 himself.± He is a partner in Otis & Co., Cleveland, investment bankers.± Only a few years ago, a newcomer to Cleveland, he was preaching in a small Baptist church whenever the regular pastor was absent. His voice remains mellow & resonant. Unostentatiously he gives much money to church needs, hunts with hounds, rears seven children. Although democratic...

Author: /time Magazine | Title: Business: Steel Fist | 2/6/1928 | See Source »

...Expectations for this spring are the same. ±Made chiefly by his activities in public utilities at Cleveland and Columbus, Ohio, Kansas City, Washington, Baltimore, Annapolis. He is a director of the Bowman-Biltmore Hotels Corp. and, when in Manhattan always stops at the Biltmore. **Another Otis partner is Joseph Oriel Eaton (president of Eaton Axle & Spring Co.), no relative to Cyrus Stephen Eaton...

Author: /time Magazine | Title: Business: Steel Fist | 2/6/1928 | See Source »

...richer man than Mr. Loree and, upon the event, a more potent in Lehigh Valley finances, did go to Philadelphia ? hastily. He was venerable Edward Townsend Stotesbury, 79, head of Drexel & Co. in Philadelphia and partner of J. P. Morgan & Co. in Manhattan. In Florida for winter's holiday, he risked no contretemps but took train in time to hearten by his pre ence at the meeting President Edward Eugene Loomis of the Lehigh Valley...

Author: /time Magazine | Title: Business: Black Diamond | 1/30/1928 | See Source »

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