|
Books > Business & Economics > Finance & accounting > Finance > Banking
|
Buy Now
Caldwell and Company - A Southern Financial Empire (Hardcover)
Loot Price: R925
Discovery Miles 9 250
You Save: R1,458
(61%)
|
|
|
Caldwell and Company - A Southern Financial Empire (Hardcover)
Series: Vintage Vanderbilt
Expected to ship within 12 - 17 working days
|
This is the fascinating, detailed account of the rise and fall of
the largest banking house ever before established in the South,
whose financial misfeasance during the prosperous twenties led to
its eventual collapse and brought ruin to numerous innocent
investors. Caldwell and Company was founded in Nashville in 1917 by
Rogers Caldwell, the son of a leading local banker and businessman.
Beginning as a small underwriter and distributor of Southern
municipal bonds, the firm soon branched out into real estate bonds
and industrial securities as well. Control of important banks in
Tennessee and Arkansas was acquired; newspapers, and even
Nashville's professional baseball team, came under the firm's
ownership. Caldwell and Company was, truly, a pioneer conglomerate.
Caldwell and Company also ventured into the realm of politics,
supporting certain politicians (notably Colonel Luke Lea) with
questionable benefits accruing to the firm, including substantial
state deposits in Caldwells Bank of Tennessee. In November 1930 the
firm went into receivership. Unethical practices, including
overextension in the acquisition of banks, insurance companies, and
other business, had already strain Caldwell and Company's assets.
With the 1929 collapse of stock prices. Rogers Caldwell could not
meet the company's obligations, and he began to squeeze all
available cash from the various controlled firms. He also
negotiated a merger between Caldwell and Company and Banco-Kentucky
Company of Louisville-a transaction which must stand as one of the
strangest deals in the annals of American business. Even the
aforementioned State of Tennessee deposits, which helped float his
empire for a while, could not prevent its collapse-a collapse which
resulted in a multi-million dollar loss to Tennessee's Treasury,
public hysteria, and clamor for the impeachment of the Governor of
Tennessee. Originally Published in 1939, this edition includes a
new introduction in which the author comments on the long-run
implications of the Caldwell episode and reports the outcome of
legal actions, both civil and criminal, still pending at the time
the book was first published.
General
Is the information for this product incomplete, wrong or inappropriate?
Let us know about it.
Does this product have an incorrect or missing image?
Send us a new image.
Is this product missing categories?
Add more categories.
Review This Product
No reviews yet - be the first to create one!
|
You might also like..
|
Email address subscribed successfully.
A activation email has been sent to you.
Please click the link in that email to activate your subscription.
Welcome to Loot.co.za!
Sign in / Register |Wishlists & Gift Vouchers |Help | Advanced search
