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...Began a study of banker control of industry by means of corporate proxies. As anticipated during last spring's bitter battle between Financier Robert Young and the Guaranty Trust Co. for control of the C. & O. Ry. (TIME, April 25), the antimonopoly committee subpoenaed records of that scrap from various firms including Manhattan's Guaranty Trust, J. P. Morgan & Co., Bankers Trust...
...Corp., top holding company in the former Van Sweringen railroad empire. William Potter is board chairman of Guaranty Trust Co., which holds, as collateral on bonds now in technical default, Alleghany's 71% interest in Chesapeake Corp., middle link in the chain between Alleghany and rich Chesapeake & Ohio Ry. Financiers Young and Potter have been on the mat for months to see which shall dominate C. & O. (TIME, April...
...Last week, resourceful Robert Young made inroads into two other operating companies. He himself was chosen chairman of New York. Chicago & St. Louis (Nickel Plate); and one of his close associates, Cleveland Shipping Tycoon George A. Tomlinson, was elected chairman of 1'ere Marquette Ry...
...conditioning, which began 30 years ago in a small way in business buildings, spread in a big way in theatres, then trains. Not until last week, however, was air conditioning brought to bus fleets. Santa Fe Trailways (controlled by the Atchison, Topeka & Santa Fe Ry.) announced that this month it would begin operating 50 completely air-conditioned busses between Chicago and points west to Los Angeles. The new busses, square-fronted and streamlined, have separate four-cylinder engines to operate the cooling and air conditioning mechanisms, maintain a constant temperature of 65°. Cost: $17,200 each...
Garland Sevier Ferguson Jr., 59, a North Carolina Democrat who was appointed by Calvin Coolidge and reappointed by President Roosevelt though rated the most conservative member of the commission. Much of his legal experience was gained as a lawyer for Southern Ry. In the general division of FTC duties, tall, baldish, able Mr. Ferguson tends to trials and examinations...