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Changing Face Ofthejewish

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Changing Face Ofthejewish Pittsburgh History Spring 1993 trasting rituals and structures among The New Crowd: The ch and Rehfeld show that Weill was the Masons, the Odd Fellows, the Changing Face oftheJewish a man driven by success, later head- Knights, and other orders exam- Guard on Wall Street ing American Express and Primeri- ined,would have enhanced the work. ca. The book also contains a fine The place offraternal orders and by Judith R. Erlich and Barry J. sketch ofSidney Weinberg, known related organizations in the Pitts- Rehfeld for breaking through religious and burgh vicinity has yet to be deter- Boston: Little,Brown, 1989. Pp. 444. class barriers on Wall Street; Wein- mined. What is known is that Ma- Illustrations, notes, bibliography, berg directed the trading depart- $19.95 sonry served as a paragon during the index. ment at Goldman Sachs, sat on late eighteenth and early nineteenth boards of numerous corporations, century, recruiting men from vari- thelate nineteenth was even offered diplomatic posts, ous strata ofthe middle- and upper- century, an elite group of and was perceived by executives of classes. Similar to Joseph RishePs DURINGJews ofGerman extraction both Protestant and Jewish invest- conclusions in his Founding Fami- played a prominent role inthe world ment firms as being "Mr. Wall lies ofPittsburgh: The Evolution ofa ofAmerican investment banking. As Street." Regional Elite (Univ. of Pittsburgh Stephen Birmingham demonstrates The authors as well make a case Press, 1990, 59-61, 181), my find- (The Great Jewish Families ofNew for other financiers connected with ings about Masons inearly Steuben- Tor*[NewYork,1967]), the Schiffs, the newcrowd. The son ofa Russian ville,Ohio, in Enlightened Men: A Kuhns, Goldmans, and Lehmans immigrant who did well inOklaho- History ofSteubenville Lodge #45 F. constituted the basis of this crowd ma in the clothing business, "Ace" and A.M. (Standard Press, 1967, and were intimately involved in the Greenberg joined Bear, Stearns in 15-42), suggest that between 1818 financing of both American and 1949. Known as a gambler, he made and the CivilWar, members for the European industries; these and oth- considerable profits for his firmfrom most part consisted ofmilitary and er members of that crowd became his trading, and later became itshead. political leaders, lawyers, physicians, the great Jewish families of New The book also contains an interest- merchants, bankers, and a few me- York and, more importantly, took ing profile of Lewis Glucksman; a chanics and farmers. Such men evi- pride in their reputations as major man with the unyielding stare of a dently were attracted to Masonry contributors to cultural and philan- bulldog, Glucksman gave capable because ofits ritualistic appeal and thropic causes. Incontrast, Erhlich direction to the commercial paper social opportunities. During the late and Rehfeld show that by the 1980s, division of Lehman Brothers and nineteenth century and well into a new crowd of Jewish investment was named to the firm's board of this one, members ofmylodge were bankers emerged on Wall Street directors. The authors explain, how- middle- and working-class men. which was ofEastern European her- ever, how Glucksman was socially However, since the early 1960s, de- itage. rejected and how old crowd aristo- monstrative of the national pattern The authors believe that mem- crats Frederick Ehrman and Pete inMasonry, membership inmylodge bers ofthe newcrowd were compet- Peterson thwarted his rise to the top as wellas inothers inthis region has itive,mobile, innovative, and chari- position within the firm.Incontrast, greatly declined. table. Gutfreund, Milken, Wasser- the experiences of John Gutfreund Studies ofother male and female stein, and many other investment at Salomon Brothers were some- fraternal orders inthe Western Penn- barons of the new crowd were in- what different than those ofGlucks- sylvania region are greatly needed. volved withmergers, leveraged buy- man. Gutfreund developed an ame- Neither are there many works about outs, and arbitrage, and ultimately nable relationship with Billy women's societies orreligious/eth- helped to promote a new financial Salomon, helped to revitalize nic organizations. Ritualistic lan- environment inAmerica during the Salomon Brothers, and ultimately guage and doctrines, philanthropi- '80s. became its president. Combative and cal activities, and gender and ethnic The book is a collective biogra- tough, Gutfreund developed vast bonding probably were among the phy and abounds withvividprofiles contacts withinstitutional investors, major reasons that residents in the of executives from the new crowd. enabling him to sell withease large Pittsburgh vicinity once gravitated The son ofPolish Jews, Sandy Weill, amounts of underwritings and to to these organizations ingreat num- who exuded aggressiveness, climbed transform Salomon Brothers into bers. \u25a0 the ladder at Shearson Hayden and the largest firm on Wall Street. eventually bought controlling inter- Ehrlich and Rehfeld examine oth- est in the firm. Moreover, Weillin er major investment roles ofpromi- 1979 fused his firm with Loeb nent members of the new crowd. Rhoades and thus absorbed the last Felix Rohatyn, who escaped the per- of the Wall Street firms which had secution of the Nazis, is depicted as been owned and directed by Amer- adeal-maker; Rohatyn became asso- ican Jews ofGerman descent. Ehrli- ciated with Lazard Freres and re- 42 Reviews ««I fk ny ArtofAmerican nated in the last 100 years by large- the common, some less typical hold- Livestock Breeding scale producers, many animals orig- ings are described, such as Alleghe- inallybred to forage& for the meager ny' County's. Besides giving the Pittsboro, N.C.: American Minor ,, , ,°. j jj c / .. orr small and subsis- names and addresses orr i? i Breeds Conservancy 1991 Pd xiii' supplies these places, 79 Introduction acknowledge- tence farming operations are far less their main resources are also listed. ments, illustrations. $15 paperback, valuable today. Some issues raised in Another section describes the re- plus $2 postage, from American Minor the book: because animals don't sources and their strong points. Fi- Breeds Conservancy, Box 477, roam freely for their food, much of nally, key journals, serials, books, Pittsboro, NC 27312 the meat in our food stores is fatter and articles are listed, with separate than need be; the health ofmodern lists for works on individual archi- HISlittlebook is acatalogue livestock herds is ensured with ex- tects and buildings. I for a traveling exhibition of pensive drugs unhealthy forhumans; -A. paintings ofrare and endan- are • many animals raised inconfined, n f rj^- jr:frUt><n A gered livestock breeds; the show environments; T inhumane and much \£ ,%l :r> made two stops inPennsylvania in energy is expended on growing grain History Of the hthntC irroupS the past year, most recently, inmid- to feed animals, inturn contributing &nd Their Foods inthe Steel 1992, at Pittsburgh's Carnegie Mu- toproblems ranging from wholesale Valley seum. Itis annoying that one must conversion oftropical rain forest into edited by LarryCiptak (with a spend $15 onthis book toovercome pasture to, in America, lands farm- . f . fontrihutorO " *™ *"*• ° l^u l&1 L U 1» AO where the paintings (at The Carne- fla^LCbtastes t bqudiiucnngsquandering ofui fertileiciuic toosoiltupi>uii \ !' \v- ii Introduction, illustrations, recipes, \ u muse- gie anyway) appeared the art in worldhistory. index to recipes, bibliography. Spiral- urn way," withfew interpretive pan- The book and exhibitionreveal a bound, $17 postpaid (checks payable Npw Avp els. seldom recognizedrerncmizerl wingwina ofthe envi- totn Publassist),Piihiassist^ 16711<S71 New Haven Ave., The book, though, easily stands ronmental movement, and highlight Pittsburgh, PA 15216 alone. R. John Dawes, the main the cooperation ofsome far-sighted curator for the show, also seems to U.S. breeders with the American I HE pressure of publishing have been the main author (there are Minor Breeds Conservancy. I the book to coincide with no names on the title page). Ex- A the 100 thanniversary of the plored, in scholarly fashion, is the Pittsburgh Architecture: A Homestead Lock-Out causes a dis-— larger purpose of the show: to doc- Guide to Research jointed historical presentation ument antique cattle, ,, . , beginning "history" 1892, the breeds of ..> XJf . • the in i i j compiled by Martin Aurand j l ~tn i_r pigs, sheep, horses and goats once £ £ mstead ofr about 20 years before, important inagriculture The paint- ' 199L Pp.24. when Europeans first poured into ings are reproduced incolor,and the $ g paperback fromCMU Architecture Monongahela— Rivertowns near Pitts- text describes where and why each Archives Frew Street 'Pittsburgh,'PA burgh but otherwise the book is breed was valuable, where it origi- 15213-3890. generally enlightening. Briefsketch- nated, and to what degree it is en- es of each ethnic group's history dangered today. MiHISbooklet isa handy guide introduce favorite traditional reci- Over-reliance on a small handful I tolocating repositories ofar- pes. Part of the proceeds from the of livestock breeds has produced X chitecture -related materials book's sale go tothe Rainbow Kitch- many evils. With agriculture domi- in the Pittsburgh area. Along with en and the Mon ValleyFood Bank. cruited to his firm such clients as tors involved withmergers and lever- financial strategies and achievements David Rockefeller, Samuel Bronf- aged buy-outs during the dynamic
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