Word: schaick
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...taxi driver's protests were vehement and mostly unprintable. "The buses have taken away the best half of the best cab stand in Cambridge," said Sherman Van Schaick. "We lost room for eight cabs, and the replacement stands that Rudolph has given us are not worth anything...
...Surety Co., not because thieving employees became more numerous but because bank failures and defaulted real estate mortgage bonds became so common. In May 1933, National Surety Co.. awash with $45,000,000 worth of guaranteed real estate mortgage bonds, went into the hands of George S. Van Schaick, at that time New York State Superintendent of Insurance. The Company was then succeeded by the Corporation. Directors & management of the Corporation bore a strong resemblance to directors & management of the Company,* but the Corporation abandoned the business of guaranteeing mortgage bonds and bank deposits, went back to its original...
...insurance assets and a sum equal to the national debt when President Roosevelt entered the White House. Nor is the job a mere matter of making the companies toe the strict line of New York State's insurance laws-as Superintendent George Slingerland Van Schaick (pronounced Skoik) found out. For also under his supervision were the big mortgage companies that cracked up after the 1933 Bank Moratorium with scandalous reverberations (TIME, Aug. 14, 1933). Having reorganized nearly one-fourth of the $800,000,000 guaranteed mortgages which his department had to take over. Superintendent Van Schaick retired...
When these evil smelling questions were put to Commissioner Van Schaick on the witness stand he answered frankly that: 1) in some cases the laws were inadequate. 2) The insurance department was woefully understaffed. Twice he had been forced to borrow personally money to pay temporary examiners until State funds were voted. His small staff had not discovered the most glaring irregularities until after the companies were taken over. 3) He had believed (and his opinion was backed at the time by the biggest Manhattan bankers) that the closing of the big Manhattan mortgage companies would precipitate a nation-wide...
Commissioner Van Schaick faced the same problem that harried the U. S. Comptroller of Currency and all State banking officials night & day throughout the Depression-to close or not to close. His problem was more acute because if he closed one company he would have had, in fairness, to close all. The cue from Washington was clearly not to close, and his experts reminded him that the mortgage companies had ridden out every previous depression on the anchor of the 18-month clause. Close he did not, and final judgment on his wisdom awaits the time when historians finish with...