Stocks Slump Pins three Big Operators and Durant Resigns
The drastic market decline hit three prominent financiers as stock reshuffles moved papers into stronger hands. Samuel Untermyer reassured a client as banks protected loans, while William Durant resigned as head of General Motors after selling holdings to du Pont interests. Schatzkin retired as Invincible Oil shares were transferred to J. S. Rae & Co. Brokers noted heavy Chile Copper offerings as prices fell.
MENTIONED IN THIS ARTICLE
Samuel Untermyer
Allan A. Ryan
Nael
Untermyer
Co Ryan
Stock Exchange
Money Trust
S. M. Schatzkin
Invincible Oil Corporation
Untermyer Takes Case Warns Ryan to Silence
Untermyer informs Alan Ryan that he will represent Ryan in the Wall Street bank seizure matter while delegating day to day details to Alvin Untermyer and Harold Content. Ryan must refrain from negotiations or public statements unless approved by Untermyer, who notes the banks are overwhelmingly secured and Ryan has substantial equity at stake.
MENTIONED IN THIS ARTICLE
Samuel Untermyer
Lockwood
Alan A. Ryan
Iryan
Wall Street
Untermyer
Ryan
Mr. Untermyer
Todkwood Committee
Alvin Untermyer
Harold A. Content
Grifiths
Sarfaty & Eng
Alvin Jermyer
Umermyer
Yakes
Direc
New York Stock Exchange
Stutz Motors
Stock Exchange
Durant exits as General Motors chief amid du Pont interests
The report notes Durant's retirement as head of General Motors and the rise of Pierre du Pont to the presidency. It outlines the holding company formation in 1916, du Pont de Nemours backing, and GM's expansion, with about fifty vehicle plants, ten affiliated firms, and nearly 46,000 employees. Net profits reached 60.5 million, with 1.0 billion in sales for the year.
MENTIONED IN THIS ARTICLE
Durent
Willam C. Durent
General Motors
du Pont
J. BP. Morgan & Co
Giicea
Bkmours of
Wilmington
Luray
du Pont Iities Company
Durant
Liurant
New York
FE 1
du Pont de Nemours & Co
du Pont-de Nemours
General Motors Corporation
Mercer
Chevrolet Motura Company
General Motors Company
Mr. Durant
Charles W. Nash
du Pont de Nemours
Middle West
Canada
Europe
Durant Resigns as GM President Amid Board Shakeup
William C. Durant steps down as General Motors president after a short tenure as board accepts the resignation. Pierre du Pont, the board chair, is elected to succeed him in a move linked to recent signals from the Du Pont interests and J. P. Morgan & Co. No other changes were made.
Earnings on Preferred and Common Stock Rates
Earnings figures show 86.47 percent on the preferred stock and 98.69 percent on the common stock, reflecting relative returns. The data emphasizes shareholder dividends and corporate profitability, with emphasis on preferred versus common equity performance.
Schatzkin a Leader in Coal and Oil Deals
The financier S. M. Schatzkin, once valued at over 5 million during the bull market, saw his Invincible Oil holdings acquired by J. B. Buche & Co. The merger of coal interests into William Farrell & Sons and ties to Vivaudou and Invincible are noted. Schatzkin, long a dealer in coal, oil, and related ventures, faces ongoing speculation about Vivaudou shares and his remaining assets, including Burns Brothers Coal and Rockaway Rolling Mills interests.
MENTIONED IN THIS ARTICLE
S. M. Schatzkin
Invincible Oil Corporation
J. 3. Buche & Co, and Associates
Schatzkin
William Farrell & Sons
Invinci
Vivaudou
Schatakin
Gosspin
Inquirer
United States
Swiatekin
Farrell
Burns Brother Coal Company
Rockaway Rolling Mills
Invincible
Spain Plans New Duties to Aid Import Advances
In Madrid on November 30 a bill is drafted to raise duties on most imported goods to support tariff reforms. The measure targets key imports and aims to bolster financial adjustments amid ongoing economic changes. The proposal focuses on customs duties and broad import categories.
MENTIONED IN THIS ARTICLE
Spain
Madrid
Also Mentioned on This Page
S. du Pont
Ol Corporation
J. S. Rae & Co
Case
Victor Records
Red Seal Records
la Juive
Enrico Caruso
Tarantelle
Alfred Cortot
Emilio de Goge
Giuseppe de Luca
Geraldine Farrar
Mabel Garrison
Phonie
Espagnole
Jascha Heifetz
Mme
Miss Louise
May McCormack
Philadelhestra
Schumann-Heink
Dance Records
Whitman
Benson
Vocal Records
John Stee
Sterling Trio
Virginia
Walter C
Kelly
Olive Klein
Gilbert Girard
Santa Claus
Victor Light Opera Co
Gema
Ling
Elee
James S. Coward
Greenwich St. Ny.c
Warren
The
New York Edison Company
Irving Place
15Thtreet
Norfolk St
Broadway
Hester St
Canal St
Bet
6Th Ave
Oper
Lexington & 3Rd Aves
Sth
Courtlandt Ave
Tremont Ave
Monterey Ave
New York Tide and Mortgage Company
American Trust Company
NEW York Title & Mortgage Company
Bridge Place
Montague Se
Brooklyn
Fulton St
Jamaica
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