Word: portfolios
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Dates: during 1930-1939
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...there were problems. As a trustee of the Stock Exchange Gratuity Fund, Dick Whitney in the summer of 1937 handled certain perfectly legal switchings of its portfolio. With the securities in his hands and creditors on every side, Broker Whitney seemingly could not resist the opportunity to hypothecate them for personal loans as he was also doing with the securities of other customers. When Governor Edward H. H. Simmons tried to get the securities back, Dick Whitney stalled for time. Finally Mr. Simmons, who had preceded Whitney as president of the Exchange, forced the issue, got some inkling...
These were speedily confirmed as Lawyer Arthur Ballantine. trustee for an investment trust named Continental Securities Corp. now in a 776 reorganization, charged through his counsel that a group of unnamed Canadians had bought a controlling interest in the trust last October for approximately $50,000 when its portfolio held securities worth some $3,300.000, and that Continental has since been looted so thoroughly that only $20,000 in marketable securities are left. In the process Continental acquired control of an investment trust named Reynolds Investing Co., which is now being investigated by SEC. Brokerage transactions for both were handled...
...Cabinet the moderate Leftist who has been the key man of the regime, National Defense Minister Indalecio Prieto, the builder of the People's Army and, as such, comparable to Leon Trotsky, the exiled builder of the Red Army. Nominally the Premier took over the portfolio of Defense himself, but he gave overriding control of the People's Army to able Communist Jesus Hernandez, named him General War Commissar...
...before Judge Bohan was another long plea from District Attorney Thomas Dewey demanding a "substantial and punitive sentence" on two counts of stealing from his wife's trust fund and from the portfolio of the New York Yacht Club. As Richard Whitney stood pale before him, Judge Bohan lost no time in showing with which plea his sympathies lay. Said...
...Bucharest last week the seven-week-old emergency Cabinet, organized by bosky-bearded Patriarch Miron Cristea when King Carol made himself Dictator (TIME, Feb. 21), was quietly reshuffled. The galaxy of six former Premiers, who as his Ministers without Portfolio lent their prestige to Dictator Carol in the crisis, dropped out of the Cabinet last week, were replaced by a line-up of lacklustre politicians and yes-men, of whom Rumania has many. As Stooge No. 1 the 69-year-old Patriarch was again sworn in as Premier...