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World at a Glance: Mitchell loses fortune in Wall Street
New York May 20 Charles Mitchell former chairman of the National Bank saw his fortune collapse after losses and collateral pledges. He faced a huge loan from J. P. Morgan & Co with defense lawyers preparing to defend him as the House of Morgan investigations loom. Wall Street chatter hints at rising steel prices and broader benefits if markets recover. Railroad equipment strain grows as parts are stripped from spare locomotives to repair active ones. Industrial orders show a rebound in home appliance manufacturing.
MENTIONED IN THIS ARTICLE
Leslie Eichel
Central Press
New York
Charles Mitchell
Tha
National Brank
Mitchell
Fedeval
Nih
Namre D. Steer
J.P. Morgan &Co
Wall, Street
Toug