Word: vaccaro
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Dates: during 1930-1939
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Washington Irving Moss, president of New Orleans' receivershipped Union Indemnity Co. (TIME, Jan. 16), resigned as board chairman of Standard Fruit & Steamship Co. Succeeded by his old associate, Felix P. Vaccaro, he will continue as a vice president "to devote myself whole heartedly to the ... company." Reason: "As president of Union Indemnity ... I have been subjected to some unfriendly criticism, which, no matter how unjustified, might reflect itself disadvantageously upon Standard Fruit...
...rise & fall of the Union Indemnity group was written in the last ten years. But its roots go deep in New Orleans lore, back to the Brothers Vaccaro-Joseph, Lucca and Felix-who emigrated from Italy some 40 years ago to found one of the greatest fortunes on the Gulf Coast. Old Joe Vaccaro started as a field hand on a plantation far down the Mississippi Delta. His daughter married one Salvador...
Then the Brothers Moss-Mike (not Michael) and Washington Irving-worked their way into the good graces of the Brothers Vaccaro. The Mosses ran a small insurance agency inherited from their father. Mike Moss persuaded the Vaccaros to invest their millions in things other than bananas. They bought the famed Grunewald Hotel, paying for it with Liberty Bonds dug out of a safety deposit box. They rebuilt it as the Roosevelt, "biggest hotel in the Deep South." Mike Moss, a tun-bellied man with a tiny bald head, was made manager. The Vaccaros backed Union Indemnity with slender, bespectacled, drawling...
...Brooklyn, three men in an automobile drew up beside John Vaccaro. "Have you got a match?" they asked. When John Vaccaro said "No," they leaped out, knocked him down, kicked him about the sidewalk, shot him in the hand. An hour later, Samuel Saulkind, waiting for a street car, was asked, "Have you got a match?" "No," he said. Whereat the trio fell upon Samuel Saulkind, kicked him about the sidewalk, fractured his skull. Approaching Frank Thornton on his way home, the three autoists queried, "Have you got a match?" When he replied "No," they belabored him grievously, left...
Formed in 1924 after old Atlantic Fruit Co. had been foreclosed, the company lost money in every succeeding year. Last week it suddenly announced it had disposed of its $6,000,000-a-year fruit business (bananas in Jamaica and Cuba) to Standard Fruit & Steamship Corp., controlled by the Vaccaro interests of New Orleans. With the sugar industry in bad shape, with its current liabilities greater than current assets as last reported, Atlantic Fruit & Sugar seemed on the verge of another reorganization despite its imposing directorate...