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Bernard Baruch: The Adventures of a Wall Street Legend

Page 47

by James Grant

Hale, Dorothy Donovan 343

  Halifax, Edward 347

  Hamilton, William P. 283

  Hammond, John Hays 92–93

  Hancock, John M. 339, 359–360, 362, 364

  atomic policy and 199–200, 371, 373–375

  Hand, Charles S. 326

  Harding Administration 252

  Harriman, Edward H. 49

  Harrison, Byron P. (Pat) 240, 253, 256

  Harrison, J. W. 148, 150–153, 155

  Harvard Business Review 340

  Havemeyer, Henry 0. 56, 128

  Hawley, Edwin 86, 139

  Hazeltine, Mr. 64–66

  Hearst, William Randolph 139, 341

  Hellman, Geoffrey 350–351

  Helm, Edith 213

  Henry, Robert L. 169

  Hentz & Company 268

  Herter, Christian 217

  Hertz, John 269, 284–285

  Higgins, Blanche 349, 361, 394

  “High Court of Commerce,” Baruch’s proposal for 305, 370, 390

  Hilgenbach, Heinrich 112

  Hill, James J. 62, 73

  Hillman, Sidney 340

  Hiss, Alger 330–331, 375

  Hitler, Adolf 336, 339, 344, 347

  Hobcaw, barony of 111–132, 164, 275, 335, 369

  black church in 115

  fire at 287

  guests at 114–115, 197, 219, 238–240, 249, 272, 343, 347

  hunting at 115

  inaccessibility of 114

  “Hohenlinden” (Campbell) 6

  Hollander, Jacob H. 307–308

  Honigman & Prince 30

  Hoover Administration 237, 296, 298

  Hoover, Herbert 212, 224, 348

  Hopkins, Harry 342, 344, 358, 361

  Hopkins, Louise Macy 361

  House, Edward Mandell 126

  House Un-American Activities Committee 391–392

  Housman, A. A., & Company 28, 67, 131, 170

  Baruch as junior partner in 34, 61, 86–88

  earnings of 63, 67

  Panic of 1893 and 39

  Sulzer’s alleged dealings with 131–132

  Housman, Arthur A. 26–28, 34, 36, 39, 63, 78–80, 128, 139, 282

  alleged death of 79

  death of 103

  decription of 26

  in financial straits 85–87

  in tobacco mergers 64–65, 67

  New York Times tribute to 61–62

  observation-car tour 69

  Housman, Clarence 12, 62, 131

  Housman, Fred 27

  Housman-Gwathmey & Company 87

  Houston, David F. 160

  Howard, Frank A. 353

  Howe, Louis M. 317, 319–320

  Hubbard, Thomas H. 140

  Hudson & Manhattan Railroad Company 251

  Hughes Commission 57

  Hull, Cordell 250, 318–320, 348, 350

  Hutton, E. F. 177

  Hylan, John F. 12, 206

  “hyphenates” 345

  I

  Ickes, Harold 219, 342, 344, 350, 351, 373

  income tax, federal 42, 115, 179

  industrial management 55

  industrial renaissance 272–273, 301

  Industrial Workers of the World (Wobblies) 99

  inflation 271, 356, 369–370

  as risk to bond market 51–53

  Baruch’s distaste of 1, 316, 320–322, 393

  Baruch’s neglect of monetary side of 340

  during World War I 184–187, 193, 232, 300

  Ingalls, Howard 202

  Interborough Rapid Transit Company (IRT) 288, 295

  Intercollegiate Athletic Association 19

  Intercontinental Fertilizer Company 108

  Intercontinental Rubber Company 116

  interest rates 53, 130, 186, 232, 294

  decline in long-term 50–52, 271

  Intermediate Credit Banks 236

  Internal Revenue Service 169

  International Mercantile Marine Company 164

  international monetary system 319

  International Nickel 264

  International Paper Company 150

  Interstate Commerce Commission (ICC) 49–50

  investment research 105

  involuntary voluntary method 237, 313

  Irving Air Chute 301

  Italy 220, 230

  J

  Jackling, Daniel 92–93, 107–109, 156, 190–191, 294

  James, Marquis 326

  Japan 174, 297, 348, 364

  Jefferson Islands Club 275, 343

  Jewett, George C. 258

  Johns Hopkins University 246, 307

  Johnson, Alvin 229

  Johnson, Hiram 225

  Johnson, Hugh S. 184, 200

  Johnson, Louis 337

  Joint Chiefs of Staff 374

  Jones, Jesse 115, 257–259, 385

  Journal of Commerce 161

  Juliana, Princess of the Netherlands 384–385

  Justice Department, US 180

  K

  Kahn, Otto H. 166

  Kamp Kill Kare 118

  Kansas State Board of Agriculture 233

  Karsh, Yousuf 71

  Keene, James R. 25–26, 60

  Keene, Jessica 80

  Kendrick-Strahan, Sarah 88

  Kennebunk Savings Bank 137

  Kennedy, John F. 334

  Kennedy, Joseph P. 303, 317, 385

  Kent, Frank 144, 240, 253, 272, 305, 321, 326–328, 340–342

  death of 398

  Keppler, Rudolph 46

  Kershaw County, SC 8, 10

  Keynes, John Maynard 18, 217, 222, 223, 227–230, 393

  Kiroack, Howard 317

  Klotz, Louis-Lucien 211, 222

  Knickerbocker Trust Company 102

  Knudsen, William S. 340

  Kohn, Julius A. 23–24

  Korean War 386–387

  Krassin, Leonid 249–250

  Krech, Alvin W. 140

  Kreuger, Ivar 298

  Krock, Arthur 235, 246, 253, 257–258, 260, 265, 294, 321, 324–326, 328–329, 340–341, 350, 386

  Baruch interview by 218–219

  defense of Baruch 233

  first employment by Baruch 240–242

  Kuhn, Loeb & Company 122

  Ku Klux Klan 8, 255, 398

  Kurusu, Saburo 348

  L

  labor 185, 218, 362, 370

  automobile industry and 206, 304

  reform 315, 364

  unrest 99–101, 220, 232

  Lacey (Baruch’s valet) 210, 219, 331, 350

  Ladenburg, Thalmann & Company 30

  Ladies’ Home Journal 205

  Laimbeer, Mrs. William 123

  Lamar, David 168, 234

  Lamont, Thomas W. 156, 213, 224, 282, 284

  Land, Emory S. 363

  Lane, Franklin K. 194

  Langtry, Lillie 25

  Lansing, Robert 166, 177, 203, 222, 226

  Lardner, Ring 242

  Lasker, Albert D. 269, 387

  “Latins Are Lousy Lovers” (Lawrenson) 116

  Lawrence, David 195, 240, 326

  Lawrence, William A. 103

  Lawrenson, Helen 116, 361

  Lawson, Thomas W. 60, 81, 165, 166, 171, 177

  League of Nations 211, 227, 256, 374

  League to Enforce Peace 227

  Leeds, William B. 40–41

  Legge, Alexander 199

  LeHand, Marguerite 324

  Lehman Corporation 274, 279, 285

  Lehman, Robert 286

  Lewis, Fulton, Jr. 354, 363

  Lewis, Sinclair 325

  Liberty Bonds 180, 186, 232, 331

  Liggett & Myers Tobacco Company 63

  Lilienthal, David E. 368–369, 371–379, 387

  Baruch wooing of 371–372

  Limburger, Richard 30

  Lindbergh, Charles A. 311

  Lippmann, Walter 241, 306, 427

  Livermore, Jesse 164, 176

  Lloyd George, David 174, 222, 227


  Lodge, Henry Cabot 226

  London Metal Exchange 395

  London Stock Exchange 53

  Long Branch, NJ 22–23, 62–63, 94, 111

  Long, Huey 325, 328

  Longworth, Alice Roosevelt 203

  Louisville & Nashville Railroad 133

  Lovett, Robert 194

  Lubell, Samuel 352, 392, 400

  Luce, Henry and Clare 361, 391, 400–401

  Lydon, Richard P. (Dick) 24, 118, 160, 279, 287

  Lytton, Harry C. (uncle) 30, 405

  M

  Mabon, James 119, 130

  Mackay, Charles 101, 301

  MacNeill, Charles 93, 102

  Making of the Reparation and Economic Sections of the Treaty, The (Baruch) 228–229

  Malcolm McAdoo 171

  Malone, Annie 396

  Manchester Guardian 229, 378

  Mandel, Georges 347

  Manhattan Bank 103

  Manhattan Elevated Company 295

  Marcus, Bernard K. 55, 308

  margin calls 274, 283

  margin trading

  advantage of 32–33

  requirements of 58

  Marks, Deborah (great-grandmother) 5

  Marks, Samuel (great-great-grandfather) 5

  Marques, Isaac Rodriguez 5

  Marshall, George C. 337, 391

  Martin, Franklin H. 163

  Marx, Karl 305

  matched orders 58

  McAdoo, Eleanor Wilson 261

  McAdoo, Malcolm 171

  McAdoo, William G. 231, 249–261, 311, 385

  as Treasury Secretary 117, 160, 162, 171, 176, 184, 194–195, 209

  description of 254

  financial problems of 251

  presidential ambitions of 232, 245–246, 252–257

  McCombs, William 126, 160

  McCormick, Vance 194, 211, 213, 219, 224

  McCue, Marcia Kendrick 88

  McKinley, William 53

  McNary-Haugen Bill 236

  McReynolds, James C. 323

  Medical College of Virginia 2

  Mellen, Charles S. 72, 74, 77

  Mencken, H. L. 315, 325

  Mercantile National Bank 102

  Meredith, E. T. 234

  mergers and consolidations 47

  of distilleries 68

  of railroads 49–50

  of Standard Brands 311

  of US Steel 41

  Merrill Lynch & Company 87

  Metropolitan Street Railway Company 88, 295

  Mexican Revolution (1910) 105

  Mexico

  Baruch’s visit to 104–105

  copper in 93, 102

  Meyer, Eugene, Jr. 92, 111, 122, 164, 195, 284, 288, 354

  as a non-Baruch man 200–201, 235

  as Washington Post publisher 354

  Beruch short selling scandal and 168–169

  Beruch’s venture capital investments and 105–109

  “involuntary voluntary” method and 181

  Sulzer’s reforms and 130

  Meyer, Theodore F. 148, 150, 153–156

  Mezes, Sidney Edward 160–161

  Michelson, Charles 240

  Millar, Helen 269, 390

  Mills, Darius 70, 94–95, 148

  Minerva (nanny) 6, 10

  mining 22, 28, 54, 88, 90–92, 108–109, 113, 122, 145, 147, 156, 190, 200–201, 276, 280–281, 297, 298, 310, 318, 350, 371, 374. See also specific mining companies

  Mining Exchange 28

  Mining & Scientific Journal 99

  Minneapolis & St. Paul Railroad 86

  Mises, Ludwig von 186, 187

  Missouri Pacific Railroad 47, 316

  Mitchell, Charles E. 271, 277, 308, 311

  mobilization, wartime 184, 246–248

  in World War I 161–162

  in World War II 335–339

  Moley, Raymond 306, 317–321, 338

  Moline Plow Company 237

  Molotov, Vyacheslav M. 381

  Money Trust 57, 59, 123, 127

  monopoly 47, 50, 126, 368, 369, 370, 380

  Montefiore Home for Chronic Invalids (New York) 12

  Moore, William H. 40–41

  Morgan, J. P., & Company 145, 155, 267, 270

  “preferred list” of 311

  Morgan, J. P., Sr. 77, 81, 102–104, 106, 197, 254, 270, 272, 282, 309, 311, 378

  at dedication of new Stock Exchange 46–47

  Bryan’s attack on 125

  death of 103

  railroads and 49, 73–74

  sulphur mining and 145–147, 155

  Morgenthau, Henry, Jr. 126, 319–320, 323, 345, 355–356, 364, 367, 373

  Morron, John R. 265, 286–287

  Moulton, Harold G. 340

  Mudd, Harvey S. 346

  Mudd, Seeley W. 346

  Muggeridge, Malcolm 298

  munitions plants 189, 330

  Murphy, Charles F. 130, 160

  My Own Story (Baruch) 398

  N

  Nast, Conde 306

  National Acme 280

  National Cigarette & Tobacco Company 65

  National City Bank 271, 277, 281, 284

  National Cordage Company 47

  National Industrial Recovery Act 313

  National Lead Company 59, 293

  National Recovery Act (1933) 309

  National Recovery Administration (NRA) 200, 312–315, 320, 328

  national security 368–369, 374, 380

  National Steel Company 41

  National Transportation Committee 296

  National War College 383, 388

  Navarro, Elizabeth 398–399, 401

  Navy 64, 163, 183, 194, 199, 200, 204, 210, 334, 338–339, 350, 392

  Du Pont and 187

  Nazism 223, 248

  Baruch and 134, 344–345, 350

  Nelson, Donald M. 349

  Nethersole, Olga 37

  Nevada Mining News 100

  Newcomb, George Benton 17–18

  New Deal 85, 200

  “New Economics” 301

  New Era (in stock market) 73, 283

  Newmont Mining Corporation 371

  New York Association for Improving the Condition of the Poor 13

  New York Call 161

  New York Central Railroad 45

  New Yorker 241, 294, 325, 350–351

  New York Evening Post 229, 240, 299

  New York Federal Reserve Bank 42

  New York Herald 56, 80, 115, 139, 244

  New York Journal American 341, 436

  New York Morning Telegraph 120

  New York Orient Mines Company 107

  New York Railway Company 295

  New York Stock Exchange 23, 26, 37, 47, 51, 62–63, 67, 73–74, 76, 81, 86, 88, 96, 119, 121, 127, 139, 142, 157, 167, 173, 180, 186, 196, 213, 232, 268, 368

  1907 Panic and 102–103

  and its place among other exchanges 53–59

  Baruch’s case against governmental intervention with 123–124

  Building Committee 46

  clubby nature of 42–43

  commissions on 43–44, 54, 58, 91

  Committee on Stock List 56, 90

  Committee on Unlisted Securities 90

  constitution of 43–44

  Crash of 1929 and 281–282

  death duty of 44

  description of 39–47

  disclosure requirements of 56

  grand opening of (1903) 46

  Gratuity Fund 44

  hazing of new members by 43

  Law Committee 130–131

  mining issues and 90–93

  “Morgan’s broker” in 26

  new quarters built for 45–47

  penalties and fines used by 44–45

  rules of 45, 56–57

  seats on 26, 37, 39–40, 44, 47, 123, 180

  standards of conduct 44–45

  Sulzer’s proposed reform of 130–132

  New York Times 11, 60–63, 141, 168, 176, 186, 242, 248, 343, 357, 371
, 382

  New York World 120, 131, 199, 217, 219, 239, 241–242, 250, 254, 258, 326

  Neylan, John Francis 370

  Niehans, Paul 399

  nitrogen, recovery of 187–188

  Nixon, George 98–101

  Nixon, Richard 391

  Nock, Albert Jay 124

  Nonpartisan League 236, 249

  Norfolk & Western Railroad 49

  Norman v. B&O Railroad Co. 323

  Norris, George W. 249

  North Dakota 236

  Northern Pacific Railroad (NP) 51, 60, 72–82, 104, 165

  Norton, Eddie 81–82, 104

  Noyes, Alexander Dana 73, 186

  Nye, Gerald P. 330

  O

  Oakland Golf Club 118, 126

  Ochs, Adolph S. 242

  odd-lot business 54

  Office of Economic Stabilization, US (OES) 356, 364

  Office of Price Administration and Civilian Supply, US (OPACS) 339

  Office of Production Management, US (OPM) 338–340

  Office of War Mobilization, US (OWM) 364

  Oglethorpe University (Atlanta) 327

  Oppenheimer, J. Robert 371, 375, 377–378

  Oregon & Trans-Continental bond 32

  Otis Elevator 48

  Outlook 235

  P

  Page, Howard 116

  Page, William H. 65, 94

  Palestine Restoration Fund 195

  Panic of 1893 32, 39, 47

  Panic of 1903 101

  Panic of 1907 123, 136

  Parker, Edwin 206

  Patterson, Eleanor (Cissy) 344

  Patterson, Robert P. 350

  Patton, George S., Jr. 362

  Pearl Harbor, bombing of 349

  Pecora, Ferdinand 309, 311–312

  Peek, George N. 193, 200, 237, 312, 337

  Pegler, Westbrook 385–387

  Pennsylvania Railroad 135

  Perigny, Roger de 100

  Perkins, Frances 118, 310–311, 313, 350

  Pershing, John J. 193, 207, 220, 240, 246, 248, 268, 278–279, 281, 286, 311

  Phipps, Henry 40–41

  phrenology 21

  Pierce, E. A., & Company 87

  Pierce, Winslow S. 140

  Pittman, Key 249, 287, 309, 318–319

  Poland 4, 216, 248, 294

  atomic policy and 378, 381–382

  Polaroid Corporation 329

  Political Economy (Walker) 18, 404

  Pomroy, H. J. 119

  Poor’s Manual 27

  Post, George B. 45

  Prag, Motz 89–90

  price controls 184–185, 339–340, 370, 390, 399

  Price, William W. 177

  Produce Exchange 76

  Prohibition 207, 254–255, 304

  public debt 40, 179, 300

  Public School 69 (New York) 12

  Public Years, The (Baruch) 400

  Pujo Committee 57

  Pulitzer, Joseph 240

  Pulitzer, Ralph 239–240

  “Putting Farming on a Modern Business Basis” (Baruch) 235

  R

  racing

  auto 112

  boat 111, 223

  horse 23, 29, 41, 119, 238, 241, 273, 334, 390, 394

  Radio Corporation of America (RCA) 269, 279

  railroads. See also specific railroad companies

 

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