The Lehman Heritage

„Every loss is a chance“ - wise words. Wit- family, but also other persons like Jerome J. Bank he was delegated to London in 1888. hout doubt the Lehman Brothers bankruptcy Hanauer and Benjamin Buttenwieser. After Being a British citizen he went to New York was a big loss in 2008. Not only for investors, World War II the rapidly changing invest- five years later. There he married Adelaide but especially for the whole financial system. ment banking industry caused a declining „Addie“ Wolff, daughter of Abraham Wolff, Soon afterwards whole industries and eco- influence of the company, which finally mer- a partner of Kuhn, Loeb & Co. After first nomies felt into a deep crisis. The effects and gend with Lehman Brothers in 1977. Every- being engaged in „Speyer and Company“ results can be seen in different media ñ day body knows the end of the story in 2008. it was obvious that he soon would join the by day. More pleasant are the new perspecti- company his father-in-law was working for. ves for the Scripophily market: The Lehman The acting persons Kahn was very successful with financing archive was a real treasure. We are proud to American railroad companies and became present it in this separate category (Lot 76 to Salomon (Solomon) Loeb (1828-1903) chairman of different companies, e.g. of 116). Use this unique chance! Union Pacific Railroad und Equitable Trust. Born as son of a Jewish family in Worms, Lot 76 VF-F Germany, Salomon Loeb emigrated to the In 1917 Kahn became an US citizen. Oheka Financiers and Philanthropists USA in 1849. Together with Abraham Kuhn Castle - Kahns residence on Long Island - relatives of his mother had become mer- was finished in 1919, being the second largest They are „lovers of humanity“: Using the chants in textiles in Cincinnati. The com- private residence in the United States at that profit they have made by hard work and pany prospered by deliveries to the Union time. Beside this luxus he was a well known clever tactics during their whole life, philan- Army during the American Civil War. Being philanthropist. It is said that Kahn once told thropists are supporters in various ways. Itís familiar with finances Kuhn and Loeb foun- a New York City mayor that a piano in every not surprising that these important people ded their investment bank Kuhn, Loeb & apartment would do more to prevent crime most often are managers and/or have another Co. in 1867. Loeb took his assets of $600,000 than a policeman on every corner. In fact he connection to the financial industry. as their start-up capital. was a patron of the New York Metropolitan Opera and several other operas. He spent a Using the example of bank company Kuhn, Jakob (Jacob) Heinrich Schiff (1847-1920) lot of money for theatre and ballet, further Loeb & Co. this collection of 62 certifica- he supported poets like Hart Crane. One of tes shows these relations in an ideal way. Born in a Jewish family in Frankfurt, Schiff Cranes‘ lyrics („The Bridge“) seems to com- It should be a certainly unique assortment made a first attempt to be successful in pare Otto Kahn with Kublai Khan, the fifth with many certificates not seen in the mar- the USA in 1865. Unfortunately his broker Great Khan of the Mongol Empire (from ket before. Looking unimpressive at first company „Budge, Schiff & Company“ failed 1260 to 1294). Finally Kahn acted as a film view, a lot of these will have some exciting and Schiff, meanwhile a US citizen, went producer as a internet based movie databa- details and curiosities. Others will let the back to Germany in 1872. But, maybe his se connects him with different films in the imagination run free. In its entirety a most marriage with Therese Loeb (daughter of 1930s. In this context a guy named „Kenneth recommended collection! Solomon Loeb) in 1875 supported his career. Outwater“ is mentioned. As he is also named Perhaps his most famous financial action on several stock certificates he doesn‘t seem The Lehman Heritage Please find more details about the acting was extending a large amount of Japanese to be a fictive person only. persons and the certificates listed below. State Loans. During the Russo-Japanese War (1904 to 1905) the amount of $200 million Kuhn, Loeb & Co. should help to defeat the anti-Semitic Tsarist regime. Kuhn, Loeb & Co. was founded by Abraham Kuhn and Solomon Loeb in 1867. Under the leadership of Jacob H. Schiff it beca- me one of the most influential investment banks around the turn of the century. It was Signature Kenneth Outwater financing America‘s expanding railways and growth companies, e.g. the bank supported Kenneth Outwater Edward Henry Harriman to assume control of the Union Pacific Railroad. Over the years Signature Otto Hermann Kahn Even after intensive research Kenneth Out- Kuhn, Loeb & Co. became the principal rival water remains a mystery. Most likely he of J.P. Morgan & Co. and after Schiff‘s death belonged to Kuhn, Loeb & Co. anyway. Otto Kahn and Felix Warburg continued Otto Hermann Kahn (1867-1934) Further he seems to have been the exten- with leading the successful business. Finally sion of Otto H. Kahn - most probably there have been a lot of further considerable Kahn was born in a Jewish bankers family in Kahn assigned several investments to him or partners of the Kahn, Schiff and Warburg Mannheim, Germany. Working at Deutsche instructed him to become involved. Finally it Partners at Kuhn, Loeb & Co.

Salomon Loeb Abraham Kuhn Jacob Heinrich Schiff Otto Herrmann Kahn Felix Moritz Warburg Mortimer Loeb Schiff Jerome J. Hanauer Frederick Marcus Warburg Gilbert Wolff Kahn John Mortimer Schiff Benjamin J. Buttenwieser

Time in the company

1867 1870 1875 1880 1885 1890 1895 1900 1905 1910 1915 1920 1925 1930 1935 1940 1945 1949 is curious that most of the certificates issued a lawyer mainly supporting the rights of at Baltimore & Ohio, Illinois Central, Union to Outwater were signed in blank without women and children. Even if it was of a Pacific and Central Pacific. Over the fol- being sold to another person. private nature, Buttenwieser connected to lowing years he lost the battle with James the Lehman family very early - of course Hill for the Northern Pacific. Harriman is Felix Moritz Warburg (1871-1937) unknowing what would happen a few deca- considered the last big railroad tycoon in des later. Like his father (and later his son) US history. Felix M. Warburg was grandson of Moses he was engaged in the „Federation of Jewish Marcus Warburg, co-founder of the German Philanthropies of New York“, predecessor „Three sons of partners became partners“ private bank M. M. Warburg & Co (Ham- of the today‘s „United Jewish Appeal-Feder- burg, 1798). He emigrated to New York in ation of Jewish Philanthropies of New York“ This quote of TIME Magazine describes the 1894 and became partner of Kuhn, Loeb & (UJA). Further he was a member of the situation in 1931: At the same time the sons Co., further he married Frieda Schiff, daugh- „American Jewish Committee“. Speaking of three notable persons became new part- ter of senior partner Jacob H. Schiff. Being German fluently, Buttenwieser became ners of Kuhn, Loeb & Co.: Frederick Marcus an US citizen since 1907, Warburg acted very representative of the U.S. High Commissio- Warburg (1897-1973, Son of Felix Moritz much for the American Jewish community. ner for Germany (John McCloy) in 1949. In Warburg) graduated from Harvard in 1919, He was a leading member of the American this position he felt compelled to criticize the then worked for American International Jewish Joint Distribution Committee, having economic policy of the Federal Government Corp., M. M. Warburg & Co. and Lehman a focus on the support of ailing Jews in Euro- many times. Brothers ñ right that tradition-rich company pe after World War I. Sponsoring several once everything will end with. Gilbert Wolff universities (e.g. Harvard, Jerusalem) seems Kahn (1903-1975, Son of Otto Herman to have been as important as being a mentor Kahn) graduated from Princeton University, for several other social projects, which could which he finally donated his fathers corre- be discerned by having a look to his stock spondence in 1951. He worked for Equitable puchases. His house („Felix M. Warburg Trust Co. and in several foreign banks. John House“) in New York‘s Upper East side Mortimer Schiff (1904-1987, Son of Mor- was finished in 1908, since 1947 it houses the Signatur Charles C. Tegethoff timer Loeb Schiff) graduated from Yale in Jewish Museum. 1925. His career first led him to Oxford, after that he worked for Bankers Trust Co. Mortimer Loeb Schiff (1877-1931) Charles C. Tegethoff (1872-1936) and Missouri Pacific Railroad. Finally this change of generations obviously kept the Mortimer L. Schiff was son von Jacob H. Tegethoff was Second Vice-President of power and was a real masterstroke. Schiff and his wife Therese. The banker was the Southern Pacific Railway and Secretary partner of Kuhn, Loeb & Co. from 1900 to of the Railway Securities Company. When Further persons 1931. Beside his job he was very engaged in Edward Henry Harriman died Tegethoff the Scout Movement. Therefore in May 1931 became „Harriman Estate Manager“. Morris Loeb (1863-1912) was a well-known he became President of „Boy Scouts of Ame- chemist. He was son of Solomon Loeb and rica“, one of the largest youth organizations Betty Gallenberg, further stepbrother of in the USA. Unfortunately he died just one Jacob H. Schiff. month later. Polly Stover Kahn (1921-?) is wife of Gil- bert W. Kahn and daughter-in-law of Otto H. Kahn. Signatur Edward Francis Hutton Paul Felix Warburg (1904-1965) was ano- ther son of Felix M. Warburg. He was finan- Edward Francis Hutton (1875-1962) cier and philanthropist. Signature Jerome J. Hanauer In 1904 Hutton recruitet his brother Fran- Gerald Felix Warburg (1902-1971) was ano- klyn Laws Hutton and the well-known ther son of Felix M. Warburg. He was no Jerome J. Hanauer (1875-1938) stock broker Gerald M. Loeb to found banker, but cellist. As he studied in Harvard „E. F. Hutton & Co.“, which became the he honoured his aunt in 1956 by establishing After getting into trouble the Chicago, Mil- second largest American broker company the „Eda Kuhn Loeb Music Library“ there. waukee & St. Paul Railway was reorganized in the following years. In 1920 Hutton as Chicago, Milwaukee, St. Paul and Pacific married a second time: Marjorie Merriwea- Railroad in 1928. That happened under the ther Post, who continued with her fathers direction of Jerome J. Hanauer, who had Postum Cereal Company. Together with a lot of experience due to his job at Kuhn, E. F. Hutton, who became President of the Loeb & Co., but also as being President of company in 1923, she acquired several other Hudson and Manhattan Railroad Company, companies and finally established General Indiana and Illinois Coal Company and Foods Corporation in 1929. Compliant with several other companies. But, unfortunately their wealth they built several luxurious he wasn‘t able to weather the Great Depres- houses and socialized a lot. As part of that sion too. Therefore in 1935 the Railroad Marjorie, temporarily the second richest company went bankrupt once again. Further American woman, had many activities in it is known that Hanauer was active at Palm Beach. But, back to business: In 1984 the War Finance Corporation als Assistant Lehman Brothers was taken over by Ame- Secretary of the Treasury. rican Express, four years later (1988) the company was merged with E. F. Hutton & Knickerbocker Real Estate Company [2 Co. In one sense Hutton should be lucky for Items] never knowing what happened after ... Both 1892, Share #3, issued to Solomon Loeb; Share #4, issued to Jacob H. Schiff. Founded in 1891, Knickerbocker Real Estate Company was investing in and speculating with properties, e.g. in Manhattan.

Hotel Irvin for Women, Inc. Signature Buttenwieser 1925, Share #292 issued to Mrs. Jacob H. Schiff. Signatur E. H. Harriman The Hotel Irvin for Women was named for Benjamin J. Buttenwieser (1900-1991) Mary M. Irvin (better: „Mrs. Richard Irvin“). Edward Henry Harriman (1848-1909) Beginning in 1916 she worked continuously Buttenwieser already joined Kuhn, Loeb & to create a residence for self-supporting girls Co. in the age of 18 and became General Edward Henry Harriman (1848-1909) star- and women with small incomes. But it was Partner in 1932. Three years before (1929) ted his career re-organizing the Lake Onta- not until 1924 that the property at 308 W he married Helen Lehman Buttenwieser, rio Southern in 1881. Later-on he was active 30th St. could have been acquired. In 1925 President Asher Mayer finally opened the 87th Street and East End Avenue Corpo- hotel. In the early 1940s the women-only ration policy seems to have been dropped, in the 1931, Share #A78 issued to Otto H. Kahn. mid-1950s the hotel was closed again. The address is one entrance of the Carl Schurz Park (named after a politician and revolutioner being the first German who became a member of the US Senate). The park seems to have no direct relation to the company, but rather the company was invol- ved in a real estate project there.

International Garden Club, Inc. 1915, Bond #9 issued to Otto H. Kahn. two new companies: Majestic Radio & Tele- Charles Frederick Hoffman (1867-1929) was vision Corporation and General Household a wealthy New Yorker woman. She was very Utilities. interested in the exchange of American and European horticultural knowledge. There- Kolster Radio Corporation fore she founded the „International Garden 1930, Share #666 issued to and signed on Golden Reward Consolidated Gold Mining Club“. The club was closely allied with the reverse by „Kenneth Outwater“. and Milling Company „Royal Horticultural Society of England“. In 1926 Kolster Radio was founded by 1907, Share #299 issued to and signed on merging several companies operating with reverse by Otto H. Kahn, signed by Edward Engineers Country Club wireless communication. The company Henry Harriman as President, signed by 1918, Certificate #254 issued to Otto H. was named after the technician Frederick Charles C. Tegethoff as Secretary. Kahn. A. Kolster. In 1928 the Columbia Phono- Proof for a close relationship to Harriman. Tofay such a membership might be called graph Company (today: Columbia Records) The shares were sold three month after his „Networking“ ... announced to distribute a radio produced by death. The Golden Reward Gold Mining Kolster. Nevertheless Kolster went bankrupt Company operated in the Ruby Basin and Marjorie Oelrichs, Inc. in January 1930. What happened? The com- Bald Mountain mining districts. Further the 1923, Share #5 issued to Addie W. Kahn, pany simply got into financial difficulties company owned a smeltery in Deadwood, signed by Marjorie Oelrichs as President and after overproduction. Therefore in March South Dakota (capacity: 500 tons per day) as Treasurer. 1930 the bankruptcy trustees reopened the and a plant for manufacturing cyanide (capa- President and Treasurer in one person? Newark plant to accomplish 15,000 half- city: 200 tons per day). Curious: Both President and Treasurer have finished radios. Unfortunately the Great the same name. Indeed it seems to be the Depression caused the final end in 1931. The Helen Freeman, Inc. same person. The company should have assets were sold to ITT for 3 Million Dollars 1921, Bond #24 issued to and signed on been owned by Marjorie Oelrichs, mother - and the business was continued under a reverse by Otto H. Kahn, signed by Helen of Marjorie Oelrichs Duchin (who was only new name (Kolster Radio Inc.). Freeman as President. 15 years old in 1923). Marjorie Oelrichs Helen Freeman (1886ñ1960) was an actress, Duchin later was a prominent beauty and Little Picture House, Inc. [2 Items] playing in at least 37 films in the years bet- wife of pianist and bandleader Eddy Duchin. Both 1928, Shares #52 and 53 issued to and The Lehman Heritage ween 1915 and 1948. Most probably Free- It could be speculated about a connection of signed on reverse by „Kenneth Outwater“. man herself was the only „asset“ of the Marjorie Oelrichs and Otto H. Kahn‘s wife In the late 1920s there was a big demand company. Addie W. Kahn. for European films in the USA. Probably therefore some „society women“ interested Houston Publishing Company, Inc. in films founded this company in New York. Share #21 issued to and signed on reverse First acquiring the property at 151 East 50th by Otto H. Kahn, signed by Herbert S. Street they might have built a cinema there. Houston as President. Houston was publisher of two new maga- Murray Hill Allied Corporation zines: „The New World“ and „Foreign 1930, Share #589 issued to and signed on Fiction“. Further he was Chairman of the reverse by „Kenneth Outwater“. National Board of Trustees of the Associated Advertising Clubs of the World. Brockperton Productions Corporation [2 Items] Washington Square Players, Inc. Both 1931, Shares #C10 and P9 issued to 1917, Bond #9 issued to Otto H. Kahn. „Kenneth Outwater“. In 1914 the company was founded to pro- As Otto H. Kahn was involved in the film duce and arrange plays for theatre. business Brockperton Productions most Guild Hall, Inc. [4 Items] probably was a production company. A Cincinnati Stuart Walker Company All 1925, Shares #9 and 11 issued to Morti- search for „Brockperton“ in a well known 1929, Share #14 issued to Otto H. Kahn. mer L. Schiff; Shares #12 and 14 issued to and search engine doesn‘t find many results, so This company most probably was a book signed on reverse by „Kenneth Outwater“. the company doesn‘t seem to have been very pinter and/or producer of plays for theatre. In 1931 the „Guild Hall“ was opened in famous. New York. In the following years it evolved into a cultural center for arts, literature and Le Golf d‘Ormesson, Socie- theatre. Quite a few unknown artists started te d‘Encouragement aux Sports et their career there. d‘Education Physique 1923, Certificate #27 issued to Otto Khan. Kreuger & Toll Company [2 Items] Kahn moves in mysterious ways: As Hart Both 1929, Shares #37193 and 7652 (each Crane hadn‘t published „The Bridge“ in stamped „Bankruptcy“) issued to and signed 1923, the alternative writing „Otto Khan“ on reverse by „Kenneth Outwater“. most probably resulted from difficulties the French issuers had with writing his name. A Grigsby-Grunow Company [2 Items] further mystery might be the Kahn‘s connec- Both 1932, Shares #85232 and 57590 issued tion to a French company operating a golf to and signed on reverse by „Kenneth Out- course in the French village Ormesson-sur- water“. Marne (Departement Val-de-Marne). Closedown one year after the stock purchase: Founded in 1928, the company manufactu- Bath and Tennis Club [2 Items] Long Island Sound Ferries Corporation red radios. Due to an excellent quality of the Both 1932, Certificate #69 issued to Adele Share #2 issued to Otto H. Kahn. speakers it sold many of its products within G. Schiff, signed by E. F. Hutton; Certificate The company operated the Long Island a short time. Although the business started #71 issued to Otto H. Kahn, signed by E. F. Sound ferry. Long Island Sound separates very successful Grigsby-Grunow became a Hutton. the North American east coast and Long victim of the Great Depression - and finally Mortimer Loeb Schiff and his wife Adele Island. went bankrupt in 1933. It was separated in Gertrude Schiff had a vacation home in Palm Monmouth County Agricultural Fair At the beginning of the 20th century Lou Association [2 Items] Ingber took over „Stillman‘s Gymnasium“ Both 1908, Share #35 issued to Felix M. in New York. As the name was widely Warburg; Share #188 issued to Felix M. known he didn‘t want to change it - so he Warburg. simply changed his own name to Lou Still- Monmouth County is a County in New man. The „Marshall Stillman Movement“ Jersey. In 2011 the 37th Monmouth County gave ex-convicts a chance to get their life Agricultural Fair was held. back together. They were able to train in the boxing ring as many famous boxers also did. Empire State Surety Company [2 Items] These attracted the audience paying a small Both 1912, Share #1548 issued to Mortimer amount for watching the training. L. Schiff; Share #1549 issued to Felix M. Warburg. Bavarian Brewing Company Beach, Florida. Named Casa Eleda (referring Both shares with serial numbers in a row 1933, Share #31 issued to John M. Schiff. to her backwards name) it was close to the (1548 and 1549) were bought at the same day. In 1866 the brewery was initially founded as Bath & Tennis Club, where Kahn and Schiff Was that initiated by Jacob H. Schiff and was „Deglow & Company Brewery“ in Coving- were one of the first members. he concerned about his son-in-law? ton, Kentucky. Founder was Julius Deglow, who changed the name to „Bavarian Brewe- Art Center, Inc. Bevel Gear Grinding Company [2 Items] ry“ very soon (in 1869). The beginning of 1921, Bond #286 issued to Felix M. War- Both 1927, Share #5 and Share #5, both issu- the Prohibition in 1919 demanded flexibility, burg, signed by Helen Sargent Hitchcock as ed to Mortimer L. Schiff. therefore the company stopped brewing and President, signed by Heyworth Campbell as The company manufactured bevel gear grin- started with bottling soft drinks. As the Secretary. ding machines. Prohibition was lifted in 1933 brewing was Arts investment by Warburg. In 1920 Helen resumed. The production continued auto- Sargent Hitchcock, widow of the promi- Colorado City and Manitou Mining and nomously until 1959, after a merger with nent editor Ripley Hitchcock (incl. works Milling Company „International Breweries, Inc.“ finally until of Rudyard Kipling, Arthur Conan Doyle, 1905, Share #186 issued to and signed on 1966. Zane Grey, Joel Chandler Harris, Stephen reverse by Jerome J. Hanauer. Crane and Theodore Dreiser), founded the Not only railroads were interesting invest- Allied Mines Inc. [3 Items] „Art Center“. She created a home for seven ments: The company operated several mines All 1939, Share #7 issued to Gerald F. War- artistic organisations: The Society of Illu- in Colorado. Co-founder was William Asbu- burg; Share #9 issued to John Schiff; Share strators (founded 1901), New York Society ry Love - one of the first gold seekers leaving #10 issued to Gilbert Kahn. of Craftsmen (1906), Stowaways (1907), Art to the West. The company must have been aactive in Alliance (1914), American Institute of Gra- a very promising business. Anyway all 3 phic Arts (1914), Pictorial Photographers Birdseye Electric Company / C. B. Holding persons have bought their shares at the same of America (1917) and Art Directors Club Corporation [2 Items] time as the serial numbers are nearly all in (1920). The „Art Center“ was closed in 1933. Both 1935, Share #C88 and Share #P68, both a row. Heyworth Campbell was the first President issued to and signed on reverse by Frederick of the „Art Director‘s Club“ and Secretary M. Warburg, both signed by Clarence Bird- Hofgaard-Remington Corporation: of this company. seye as President. 1931, Share #215 issued to and signed on Clarence Birdseye was an American biologist reverse by Benjamin J. Buttenwieser. Beach Point Club, Inc. and is considered the founder of the modern The company maufactured adding machines. 1931, Share #288 issued to Felix M. War- method of freezing food. After watching the In the 1930s it registered several patents, burg. Inuit as they used very thick ice to ice fish including one for an electric adding machi- Warburgs calm oasis? „Beach Point Club“ is he developed his technology in the 1920s. ne. a familiar club in Mamaroneck, NY. Located Even if there wasn‘t very much interest in right next to the Long Island Sound it has his products first, the demand changed and Jibb No. 1 Service Station Inc. an own marina, further several swimming the later General Foods Corporation entered 1958, Share #1 issued to Helen L. Butten- pools and tennis courts. Originally built as the business. Beginning in 1930 frozen vege- wieser. an industrialists‘ residence in 1890, the club- tables were sold in the USA as „Birds Eye house today includes a first-class restaurant Frosted Foods“. Century Opera Company and a sea view terrace. This was enabled 1914, Share #60 issued to Mrs. Morris Loeb, by the founding members, who took over Gail-Harris Co., Inc. signed by Edward Kellogg Baird. the estate in 1925 and opened the club after 1921, Share #30 issued to and signed on The company operated an opera in New renovation in 1926. reverse by Frederick M. Warburg, signed by York. Lawyer Edward Kellogg Baird was Jane Gail as Treasurer. President, Otto H. Kahn was Vice Presi- The company was founded by Jane Gail and dent. Warren S. Harris. Jane Gail was an early American actress for silent movies and stage Stover Plywood Corporation plays, whose career started on Broadway. 1960, Share #12 issued to Polly S. Kahn. As from 1912 she performed in a total of 19 Working on panels and doors consisting of films, especially as Dr. Jekyll‘s fiancee in the plywood, the companies‘ name most pro- 1913 silent movie version of „Dr. Jekyll and bably originates in the second name of Polly Mr. Hyde“. In the age of 30 years only her Kahn. last film was produced in 1920. Gail died in 1963. Bela Blau, Inc. [2 Items] Both 1929, Shares #C45 and P45, both issued Kississing Mines Limited to Paul F. Warburg. 1928, Share #30 issued to and signed on The company was founded by Bela Blau, a City Housing Corporation reverse by Frederick M. Warburg. Hungarian film producer. So the company 1925, Share #92 issued to Felix M. Warburg, The company most probably was active in should have been active in producing films. signed by Alexander M. Bing as President. the mining business around the Kississing Alexander M. Bing (1879ñ1959) was an Lake, located in the Canadian Province of Cincinnati Telenews Company [2 Items] American real estate developer. Together Manitoba. Both 1945, Shares #2 and 9, both issued to with his brother Leo S. Bing he founded Paul F. Warburg. „Bing & Bing“, a company developing high- Knickerbocker Exploration Company end apartments. They often cooperated with Limited J. F. Hill & Co. Inc. [2 Items] architect Emery Roth, known by buildings 1927, Share #40 issued to and signed on Both 1937, Shares #6 and 4, both issued to like The First Hungarian Reformed Church, reverse by Frederick M. Warburg. Gerald F. Warburg. Warwick Hotel, The Eldorado or The Beres- The company seems to have published sheet ford. Further Alexander M. Bing founded Marshall Stillman Movement Industries, music. the City Housing Corporation, which was Inc. offering a financing model including a stock 1929, Share #P56 issued to and signed on Cross Corporation subscription program as an alternative to reverse by Gilbert W. Kahn. 1944, Share #14 issued to Gerald F. War- common second mortgages. burg.