KNOCK AT SWINDLERS
EFFECT OF MONSTER TRUST PLANNED IN U.S. DISCUSSION BY BANKERS (United Service J Reed. 9.5 a.m. NEW YORK, Tuesday. The largest investment trust in the world, with ultimate resources of £1,000,000.000, is the vision of Air. John J. Raskob, of General Motors, and is being discussed by leading bankers. It would be a new type of corporation, of a kind not known at present anywhere in the world, with the elements of an investment trust, and somewhat upon the principles of an insurance company. The corporation would be formed with the definite purpose of making American workers independent in their old age. The plan includes the sale of certificates under a system similar to the group insurance idea. It would become the largest single stockholder in such corporations as United States Steel, General Motors. General Electric, and Radio, and would deal a direct blow at the country’s greatest financial evil, stock swindling.
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Sun (Auckland), Volume III, Issue 657, 8 May 1929, Page 9
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155KNOCK AT SWINDLERS Sun (Auckland), Volume III, Issue 657, 8 May 1929, Page 9
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