The House of Morgan: An American Banking Dynasty and the Rise of Modern Finance
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Clews, Henry, 78
Cliveden, 435, 436–37, 443, 444
Club of Seventeen, lawsuit against, 502–506, 507
Cobbold, Lord, 525
Cochran, Homer, 561
Cochran, Thomas, 190, 224, 305, 370
Cohen, Benjamin V., 418, 420
Cohen, H. Rodgin, 703
Cohn, Roy, 327
Colby, Frank, 369
Coleman, Leighton, 646
Collier, Geoffrey, scandal involving, 685, 688
Collins, Tim, 385, 524, 548
Columbia University, 261, 277, 289, 358, 421, 640
Commager, Henry Steele, 158
Commercial banking, 385
separation of investment banking from, 353–54, 362–63, 374–91
Commercial paper, 541, 542, 595, 657
Commissions on stock trades, end of fixed, 602, 674
Committee to Defend America by Aiding the Allies, 443
Commonwealth and Southern Corporation, 447
Communism, 210, 211, 328, 333, 338, 398, 403, 411, 444, 518, 543
Compagnie Financière de Suez, 615
Compensating balances, 494–95, 538
Competition, 176, 179
between merchant banks, see Gentleman Banker’s Code
bidding or bond issues and, 416–17, 428
Pierpont’s hatred of, 54, 56, 82, 83, 102, 111
trusts and, see Trusts
Comstock, Anthony, 38
Con Edison, 504, 505
Congress, U.S., 312, 380, 410, 442
gold standard and, 72–77
panic of 1907 and, 129, 130
Congress of Industrial Organizations (CIO), 420
Conoco, 632
Conovor, Todd, 659
Conran, Sir Terence, 678
Consumers Power, 390
Container Corporation of America, 694, 698
Continental Illinois Bank and Trust Company, 656–60, 701, 716
Continental Oil, 496
Conway, Carle C., 422, 428
Cooke, Jay, 13, 33, 35–37
Coolidge, Calvin, 210, 314, 370
election of 1924 and, 254, 255
Morrow and, 251–52, 254, 287–93, 298
power of Wall Street and, 243, 244
World War I loans and, 249, 251, 282
Cooper Industries, 692
Copenhagen, Denmark, 547–48
Corcoran, Thomas G., 379, 418, 420, 441
Corfu, invasion of, 279–80
Corn Exchange Bank, 324, 356
Corning Glass, 709
Corrigan, E. Gerald, 701
Corsair, 29, 53, 54–55, 63
Corsair II, 60, 77, 80
Corsair III, 80–81, 102, 107, 115, 140, 141, 159, 169, 194, 263
Corsair IV, 322, 330, 348, 408–409, 460, 474
Cortelyou, George B., 123
Coster, Charles, 69, 70, 87, 258, 260
Coughlin, Father Charles E., 381–82, 400
Council on Foreign Relations, 485, 562
Courtauld, Samuel, 462–63
Courtois, E., Jacques, 633, 634
Cox, Archie, Jr., 586, 594
Cox, James M., 209
Cragin, Stuart, 543
Cragston, 32, 53, 63, 66, 126
Cravath, Paul, 192
Cravath, Henderson, Leffingwell and de Gersdorff, 312–13
Craven, John, 713–14, 715
Crawford, Lady Anne, 457, 458
Crawford and Balcarres, Earl of, 457
Credit Anstalt, 328
Crédit Mobilier, 36
Crédit Suisse, 547
Croly, Herbert, 132
Cromer, Lord (Evelyn Baring), 25
Crosby, Mrs. Stephen, 409
Cuba, 237, 289, 592, 638
Cunard Line, 102–103, 146
Cunliffe, Geoffrey, 202, 523
Curtis, William E., 74
Czolgosz, Leon, 93
D
Dabney, Charles H., 12, 23, 33
Dabney, Morgan and Company, 23, 31
Dai-Ichi Mutual Life Insurance Company, 719
Dan, Baron Takuma, 234, 342–43
Danat Bank, 329
Davis, John W., 144, 371, 379, 426, 440, 471
Democratic nomination of 1924 and, 254–55
Pecora hearings and, 360–61, 363, 364
Davis, Norman, 373
Davis, Polk, and Wardwell, 254, 363, 408, 413, 505, 507, 527, 528, 537, 556, 566, 599, 600, 629, 651
Davison, Danny, 570
Davison, Frederick Trubee, 219, 260
Davison, Henry Pomeroy (Harry), 123, 129, 130, 138, 178, 230, 289, 305, 306, 466
banker-government collaboration and, 132, 133, 135, 137
as chief operating executive, 143–45, 150, 166, 167, 217–18, 256, 257
Davis and, 144, 254–55
death of, 218–19
Pujo Committee and, 151, 152–53
Strong and, 182
World War I and, 184–92, 198, 201–203
Davison, Henry Pomeroy, Jr., 424, 496, 534, 540, 590
Davison, Kate Trubee, 143, 218
Dawes, Charles Gates, 249, 251, 254, 314
Dawes Plan, 249–53, 282, 312, 392–99, 488
Dawkins, Sir Clinton, 79, 99, 103, 104
Dayton Power, 471
Dean, Arthur, 502
Deflation, 353, 354, 357–58, 380, 381, 419, 420
De Gaulle, Charles, 488
De Grunwald, Dimitri, 569
Delaware and Hudson Railroad, 32
Delmonico’s, 41, 47
De Martino, Giacomo, 283, 284
Democratic party, 129, 130, 203–204, 354, 370–71
alleged conspiracy of, 351–52
trustbusting and, 147, 149
Department of Trade and Industry, Britain, 685–86, 688, 689
Depew, Chauncey M., 42, 43, 54
Depression, the Great, 300, 313, 321–27, 346–77, 401
anger against bankers during, 352, 355–57, 378, 381–84
“apple days” during, 346
bank failures during, 326–29, 353, 357
Bank of the United States and, 326–27
bond market during, 352–53
bottom of the stock market, 323, 346
British gold standard and, 329–36
German reparations during, 326–29, 353, 357
government action during, 321, 347–48, 417–20
Latin American loan defaults, 354, 637
money supply and, 323–24
Morgan interventions during, 324–45, 352–53
Morgan partners during, 348–49
New Deal and, see New Deal
Pecora hearings during, see Pecora hearings
politics of 1932 and, 349–56
pools and, 351–53
postcrash complacency, 322–23, 324
as return to thrift and hard work, 321–22
short selling and, 351–53, 415
tariffs and, 323
World War II and, 441
Deutsche Bank, 76, 547, 548, 625, 715
De Vries, Rimmer, 649
Dewey, Thomas E., 426, 427, 448
De Wolfe, Elsie, 140–42
Diaghilev, Sergey, 271
Diaz, Porfirio, 240
Dickens, Charles, 6, 61
Dickey, Charles, 512
Dillon, C. Douglas, 536, 540–41
Dillon, Read, 462–63, 502, 584, 601, 624, 661
Diplomatic Age, 131, 160–61, 166, 177, 180, 186, 206, 241, 248, 288, 328, 341, 401, 454, 460, 473, 475
Disraeli, Benjamin, 24, 25
Distillers, 676, 680–83, 688–89
Dollar diplomacy, 131–38, 292–93
Dominion Textile, 696, 697
Donner, Fred, 516
Donovan, William, 211
Douglas, Lewis, 358
Douglas, William O., 111
Whitney embezzlement and, 421, 425–28
Douglas-Home, Alexander, 614
Douglas-Home, David, 614
; Dover House, 28, 96, 139, 191
Dreiser, Theodore, 100
Drew, Daniel, 30
Drexel, Anthony J., 33–35, 36, 64
Drexel, Anthony, Jr., 64
Drexel, Elizabeth, 140, 165
Drexel, Francis M., 33, 34
Drexel, Joseph, 34, 39
Drexel and Company, 33, 64, 65, 145, 470, 502, 512
Drexel Burnham Lambert, 470, 601, 650, 651, 710, 711
Drexel, Harjes, 33, 64
Drexel, Morgan and Company, 33–35, 55, 65, 256, 387
offices of, 34
rise of stature of, 35–40
Dubai, 615
Duke, James B., 130
Dulles, John Foster, 530, 542
Duncan, Sherman and Company, 12, 20–21
Dunne, Finley Peter, 78
Du Pont, 500, 549, 624, 626, 632, 654, 661
Du Pont, Coleman, 196
Du Pont, Irénée, 224
Du Pont, Pierre, 224, 289–90, 507
Du Pont family, 190, 200
General Motors and, 222–24
Du Pont Securities, 196
Durant, William Crapo, 221–25, 324, 424
Durant, William West, 80
Duveen, Joseph, 86, 118, 173
E
Eastman Kodak, 549, 708
Eaton, Cyrus, 416, 417, 441, 502–503, 508
Eccles, Marriner Stoddard, 383
Economic nationalism, 359, 403
Economic royalists, 409, 440
Edelman, Asher B., 696
Eden, Sir Anthony, 399–400, 530, 531
Edge, Walter E., 298
Edge Act, 541
Edison, Thomas Alva, 46–47
Edison Electric Illuminating Company, 46–47
Edward VII, King, 15, 79, 95, 96, 98, 115
Edward VIII, King, 404, 410
E. F. Hutton, 624
Egan, Martin, 211, 234, 258, 283, 284, 297, 315, 343, 350
Egypt, 139, 157, 529, 613, 614, 615
Ford Motor and, 615–18
Egyptian Finance Company, 617
Eisenhower, Dwight D., 454, 544
Whitney and, 497–99, 528–30
Elizabeth, Queen, 410, 440
Elizabeth II, Queen, 431, 521–22, 673
Elliott, Howard, 177, 178
Elliott, Maxine, 115, 141
Emergency Financial Control Board, 620
Empire State Building, 302, 346
Engel, Robert, 705, 706, 717
England, see Britain
Enskilda Bank of Stockholm, 286, 549
Episcopal church, 51, 559
Equitable Life Assurance Society, 152, 154, 289, 696–97
Equitable Trust, 362
Erie Railroad, 30, 31, 32, 38, 44
Ernst, Morris, 381, 489
Erskine, Sir George, 520
Esso, 520, 677; see also Exxon
Ethiopia, 402–407, 437, 454
Euramerica, 546–47
Euro-clear, 550
Euromarkets, 541–50, 590–91, 592, 594, 608, 625, 636, 653, 654, 673
Evans, Jack, 570
Ewing, William, 213, 372, 387
Exco, 675
Exxon, 533, 549, 595, 626, 654, 661, 668–69; see also Esso
F
Faber, Willis, 654
Fahd, Crown Prince, 611
Faisal, King, 606, 607
Falkland Islands, war over, 641
Farley, James, 440
Farm-equipment trust, 109
Fascists, 277–86, 402–407, 437
Federal Communications Commission (FCC), 706
Federal deposit insurance, 374, 379, 470
Federal Deposit Insurance Corporation (FDIC), 659, 660
Federal funds market, 539, 657
Federal Reserve Bank of New York, 156, 181–82, 211, 244, 321, 323, 326, 337, 383, 458, 485, 491, 604, 701, 716
British gold standard and, 275, 276, 331–34
Federal Reserve Board, 201, 312, 539, 540, 544, 545, 643, 645, 646, 656, 693, 703
Continental Illinois rescue and, 658
interest rates and, 490–91, 592, 700, 701
reaction to Black Monday, 700–701
Federal Reserve System (Fed), 12, 319, 375, 470
creation of, 128–30, 156, 181–82
Depression and, 323–24, 347, 380, 419
engineered recessions of, 211, 223
open market operations, 380
pre-crash 1920s and, 302, 303–304, 312–15
reorganization of, 383–84
Federal Trade Commission (FTC), 181, 706
Felton, Edgar, 608
Field, Cyrus, 12, 43, 54
Finneran, Gerard, 643, 645
First Boston, 502, 504, 505, 517, 518, 553, 581, 584, 585, 624, 662, 663, 690, 691, 694, 710
mergers and acquisitions handled by, 601, 602, 632, 665, 692
First Chicago, 709
First National Bank, 143, 144, 153, 156, 236, 530
Big Three and, 132, 137, 153, 180, 205, 304–305
First National Bank of Boston, 504
First National City Bank, 530, 535, 538, 614, 619
Fish, Stuyvesant, 57
Fisher, David, 665
Fisher, Dick, 580–81, 584, 585–86, 630, 663, 695, 699, 712
described, 664–65
Fisher, Irving, 314, 319
Fisher, Max, 616, 618
Fisk, Jim, 31
Fitzgerald, F. Scott, 512
Fletcher, Duncan U., 365
Flick, Friedrich, 547
Flight capital, 649, 651
Flom, Joe, 599–600, 601, 629, 632, 692, 707
Fogg, Joseph G. Ill, 668, 691, 693, 697, 707
Forbes, B. C., 257, 316
Ford, Gerald, 543, 620, 621
Ford, Henry, 221–22, 321
anti-Semitism of, 216, 615
Ford, Henry II, 543, 615–16
Ford Motor, 221–22, 273, 533, 543, 560, 595, 610
Arabs and, 615–18
Ford U.K., 616
Foreign Policy Association, 278, 282
Forrestal, James, 655
Fort Howard Paper, 698
Fortune, 170–71, 264, 510–11, 540, 604, 649, 692, 717
France, 450–54, 504, 517, 529, 530, 552
aid to, after World War II, 487, 488, 551, 638
during World War II, 450–54
Franco, Francisco, 402–403
Frankfurter, Felix, 111, 411, 418
Franklin National Bank, 604
Fraser, Charles, 681
Frémont, General John C., 22
Frick, Henry Clay, 121, 127–28, 148, 173
Friedman, Milton, 539
Friedman, Steve, 600
Frontier Airlines, 667
Fry, Roger, 88, 119
Fummi, Giovanni, 278–79, 281, 286, 402–407, 549
described, 456–57
World War II and, 454–59
Funk, Walther, 433
G
Galbraith, Evan, 544, 547, 548
Gallaher, 570–73, 595, 671, 687
Galveas, Ernane, 642, 646
Gannochy Lodge, 170, 264–65, 408, 431, 438
Garner, John Nance, 372
Garrison, William Lloyd, 18
Gary, Judge Elbert H., 70, 111, 127–28, 141, 148, 210, 283, 306
Gates, John W. “Bet-a-Million,” 82–84, 87
Gates, Thomas S., Jr., 538, 542, 543, 544, 554, 705
Gay, Charles R., 421
Gebauer, Antonio, 640–41, 642, 645–52
as embezzler, 648–52
Geneen, Harold, 584
General American Oil, 668
General Electric, 67, 70, 190, 273, 307–308, 500, 514, 543, 595, 610
crash of 1929 and, 315, 317
insider trading and, 306–307
General Electric Credit, 626
General Foods, 520
General Motors, 221–24, 266, 305, 306, 418, 492, 497, 500, 513, 517, 523, 549, 560, 562, 595, 610, 616, 632, 662, 695
&nb
sp; General Motors Acceptance Corporation, 625
Gentleman Banker’s Code, 12, 154, 197, 305, 341, 504, 598
Brandeis and, 176, 178–79
breakdown of, 588, 598–99, 626, 691
described, 3, 24, 38, 93, 156, 257–58
Jack and, 363–64
Japanese loan and, 235–36
George V, King, 217–18, 255, 333, 431
George VI, King, 170, 410, 431, 440, 521
George Peabody and Company, 3–16; see also Peabody, George
Georgetown University, Center for Contemporary Arab Studies, 610
Gerard, Robert A., 664, 717
Germany, 489, 518, 547, 548, 705
agent general of, 251–53, 291, 311
loans to, 215–17, 247–53, 311–12, 392–99, 436, 638
Nazis, see Nazis
World War I reparations, 207–208, 210, 228, 247–53, 310–12, 327–29, 350–51, 392–99
Gesell, Gerhard A., 426–29
Gibbons, Mary, 639
Gifford, T. J. Carlyle, 442, 489
Gifford, Walter, 371, 390, 441
Gilbert, Louise, 421
Gilbert, S. Parker, 252–53, 291, 311–12, 314, 383, 385, 402, 421, 611, 664, 695, 702, 711, 712
death of, 420–21
Pecora hearings and, 361, 366
Roosevelt and, 354, 355, 362, 419
Gilbert, S. Parker, Jr., 421, 611–12, 664, 695, 702, 712
Gimbel Brothers, 705
Gladstone, William, 14, 42
Glass, Carter, 206, 226, 354, 355, 356, 362, 375, 384
described, 374
Glass-Steagall Act, 304, 356, 362, 363, 374–77, 418, 485, 488, 492, 504, 508, 540, 541, 544, 550, 559, 590, 592, 660, 662
events leading up to, 349–74
hopes for repeal of, 378, 384, 386–87, 715–16, 717–18
implementation of, 378–91
Morgan break-up and, 384–91, 422, 432, 470
Section 17, 687
Gleacher, Eric, 633–34, 691–92, 693, 697, 701, 703, 711
Goebbels, Joseph, 328, 438
Gold, 499, 605, 654
stocks of, during World War II, 451, 458
Goldberg, Alan E., 696
Goldman, Henry, 195–96, 199
Goldman, Sachs, 89, 196, 199, 308, 385, 502, 512, 557, 584, 594, 624, 625, 663, 665, 677, 690, 695, 701, 702
mergers and acquisitions handled by, 600–601, 665, 703
Goldman Sachs Trading Corporation, 319–20, 352
Goldsmith, Sir James, 692
Gold standard, 71–78, 357–59, 381
in England, 273–77, 313, 315, 329–36, 475
in Italy, 282
in Japan, 337, 341, 343
Gooch, Charles C., 8
Good, Barry, 628
Goodwin, James J., 21, 44
Gordon, Albert H., 325
Göring, Hermann, 328, 392, 400, 438
Schacht and, 398, 399, 432, 478
Gould, Jay, 30–32, 38, 43, 44, 56