-Caveat Lector- from: http://www.tarpley.net/bush1.htm William Rockefeller, treasurer of Standard Oil and brother of Standard founder John D. Rockefeller, owned National City Bank (later "Citibank" ) together with Texas-based James Stillman. In return for their backing, E.H. Harriman deposited in City Bank the vast receipts from his railroad lines. When he issued tens of millions of dollars of "watered" (fraudulent) railroad stock, Harriman sold most of the shares through the Kuhn Loeb company. *** In 1918, Samuel Bush became director of the Facilities Division of the War Industries Board. Prescott's father reported to the Board's Chairman, Bernard Baruch, and to Baruch's assistant, Wall Street private banker Clarence Dillon. Robert S. Lovett, President of Union Pacific Railroad, chief counsel to E.H. Harriman and executor of his will, was in charge of national production and purchase "priorities" for Baruch's board. *** Captain Bush went to the 1919 reunion of his Yale class in New Haven, Connecticut. Skull and Bones Patriarch Wallace Simmons, closely tied to the arms manufacturers, offered Prescott Bush a job in his St. Louis railroad equipment company. Bush took the offer and moved to St. Louis. *** President Theodore Roosevelt had denounced Harriman's father for "cynicism and deep-seated corruption" and called him an "undesirable citizen." [9] For the still- smarting Averell to take his place among the makers and breakers of nations, he needed a financial and intelligence-gathering organization of his own. The man Harriman sought to create such an institution for him was Bert Walker, a Missouri stock broker and corporate wheeler- dealer. George Herbert ( "Bert" ) Walker, for whom President George H.W. Bush was named, did not immediately accept Harriman's proposal. Would Walker leave his little St. Louis empire, to try his influence in New York and Europe? Bert was the son of a dry goods wholesaler who had thrived on imports from England.[10] The British connection had paid for Walker summer houses in Santa Barbara, California, and in Maine-- "Walker's Point" at Kennebunkport. Bert Walker had been sent to England for his prep school and college education. By 1919 Bert Walker had strong ties to the Guaranty Trust Company in New York and to the British-American banking house J.P. Morgan and Co. These Wall Street concerns represented all the important owners of American railroads: the Morgan partners and their associates or cousins in the intermarried Rockefeller, Whitney, Harriman and Vanderbilt families. Bert Walker was known as the midwest's premier deal-arranger, awarding the investment capital of his international-banker contacts to the many railroads, utilities and other midwestern industries of which he and his St. Louis friends were executives or board members. Walker's operations were always quiet, or mysterious, whether in local or global affairs. He had long been the "power behind the throne" in the St. Louis Democratic Party, along with his crony, former Missouri Governor David R. Francis. Walker and Francis together had sufficient influence to select the party's candidates.[11] Back in 1904, Bert Walker, David Francis, Washington University President Robert Brookings and their banker/broker circle had organized a world's fair in St. Louis, the Louisiana Purchase Exposition. In line with the old Southern Confederacy family backgrounds of many of these sponsors, the fair featured a "Human Zoo" : live natives from backward jungle regions were exhibited in special cages under the supervision of anthropologist William J. McGee. So Averell Harriman was a natural patron for Bert Walker. Bert shared Averell's passion for horse breeding and horse racing, and easily accommodated the Harriman family's related social philosophy. They believed that the horses and racing stables they owned showed the way toward a sharp upgrading of the human stock--just select and mate thoroughbreds, and spurn or eliminate inferior animals. The First World War had brought the little St. Louis oligarchy into the Confederate-slaveowner-oriented administration of President Woodrow Wilson and his advisors, Col. Edward House and Bernard Baruch. Walker's friend Robert Brookings got into Bernard Baruch's War Industries Board as director of national Price Fixing (sic). David R. Francis became U.S. ambassador to Russia in 1916. As the Bolshevik Revolution broke out, we find Bert Walker busy appointing people to Francis's staff in Petrograd.[12] Walker's earliest activities in relation to the Soviet state are of significant interest to historians, given the activist role he was to play there together with Harriman. But Walker's life is as covert as the rest of the Bush clan's, and the surviving public record is extremely thin. The 1919 Versailles peace conference brought together British imperial strategists and their American friends to make postwar global arrangements. For his own intended international adventures, Harriman needed Bert Walker the seasoned intriguer, who quietly represented many of the British-designated rulers of American politics and finance. After two persuasion trips west by Harriman,[13] Walker at length agreed to move to New York. But he kept his father's summer house in Kennebunkport, Maine. Bert Walker formally organized the W.A. Harriman & Co. private bank in November 1919. Walker became the bank's president and chief executive; Averell Harriman was chairman and controlling co-owner with his brother Roland ( "Bunny" ), Prescott Bush's close friend from Yale; and Percy Rockefeller was a director and a founding financial sponsor. In the autumn of 1919, Prescott Bush made the acquaintance of Bert Walker's daughter Dorothy. They were engaged the following year, and were married in August, 1921. [14] Among the ushers and grooms at the elaborate wedding were Ellery S. James, Knight Woolley and four other fellow Skull and Bonesmen from the Yale Class of 1917. [15] The Bush-Walker extended family has gathered each summer at the "Walker country home" in Kennebunkport, from this marriage of President Bush's parents down to the present day. Notes: 9. Theodore Roosevelt to James S. Sherman, Oct. 6, 1906, made public by Roosevelt at a press conference April 2, 1907. Quoted in Henry F. Pringle, Theodore Roosevelt (New York: Harcourt, Brace and Company, 1931), p. 452. Roosevelt later confided to Harriman lawyer Robert S. Lovett that his views on Harriman were based on what J.P. Morgan had told him. 10. See The Industries of St. Louis, published 1885 by J.M. Elstner & Co., pp. 61-62 for Crow, Hagardine & Co., David Walker's first business; and p. 86 for Ely & Walker. 11. See Letter of G.H. Walker to D.R. Francis, March 20, 1905, in the Francis collection of the Missouri Historical Society, St. Louis, Missouri, on the organization of the Republicans and Democrats to run the election of the mayor, a Democrat acceptable to the socially prominent. The next day Walker became the treasurer and Francis the president of this "Committee of 1000." See also George H. Walker obituary, St. Louis Globe-Democrat, June 25, 1953. 12. Letter of Perry Francis to his father, Ambassador David R. Francis, Oct. 15, 1917, Francis collection of the Missouri Historical Society. "... Joe Miller left for San Francisco last Tuesday night, where he will receive orders to continue to Petrograd. I was told by Mildred Kotany [Walker's sister-in-law] that Bert Walker got him his appointment through Breck Long. I didn't know Joe was after it, or could have helped him myself. He will be good company for you when he gets there...." 13. Private interview with a Walker family member, cousin of President Bush. 14. Prescott Bush, Columbia University, op. cit., p. 7. 15. St. Louis Globe Democrat, Aug. 7, 1921. 16. This is the sequence of events, from Simmons to U.S. Rubber, which Prescott Bush gave in his Columbia University interview, op. cit.,) pp. 7-8. ========= Brookings Institution The Graduate School of Economics and Government, Washington University, St. Louis, located in Washington, D.C., in 1924 became known as the Robert Brookings Graduate School of Economics and Government. The Laura Spelman Rockefeller Memorial in 1924 appropriated $40,000 for the year 1925 and $75,000 per year for each of the six following years. In 1928, the name was changed to the Robert Brookings Institution, Inc. and the Memorial's appropriation was transferred accordingly. In April, 1928, the Memorial appropriated $2,000,000 for the Brookings Institution, Inc., as part of its general endowment. This grant was conditional on the raising of $4,000,000 more, but this requirement was reduced in 1931 to $2,000,000 in additional funds. The Rockefeller Foundation appropriated funds to the Brookings Institution in the 1930's for specific purposes. (http://www.webaccess.net/~comminc/Rockefeller.html ) ========= http://stlouis.missouri.org/government/heritage/history/buscomind.htm Immediately after the War, St. Louis business leaders tried to restart the shipping and wholesaling activities. They formed the Union Merchants' Exchange in 1866 out of the old Board of Trade (with which it merged a few years later) to reclaim the city's "rightful" place as a commercial center through a program of lobbying, marketing, and research. The Exchange also developed a "commercial traveler system" of men visiting other cities to extol the city's virtues for partners in both business relocation and trade. Some 1,200 of these "drummers" were taking orders for St. Louis goods by 1880, especially from the South. Southwestern America became the primary economic domain of St. Louis business in the final third of the nineteenth century. The region roughly between the Mississippi River and New Mexico, and the Colorado River and the Rio Grande looked east to St. Louis much as the city had looked to New Orleans and Pittsburgh in earlier generations. River and rail carried raw materials from the South and West for processing in St. Louis or farther east, and transferred finished products headed westwardly. It could boast of being among the nation's largest makers or shippers of cotton, foodstuffs, tobacco, clothing, shoes, beer, and fire brick. St. Louis was a major outlet for southern cotton before the Civil War, but business unraveled during the conflict. When the Cotton Exchange (which orchestrated buying, selling, and grading cotton in the same way other exchanges handled grain) offered a $5,000 prize in 1870 for the best grade product at the Mississippi Valley Fair, St. Louis was back in business as the largest inland cotton market in the world. Once shipped by riverboat, cotton became a rail commodity during the 1870s. At the end of the decade, traincars carried some 464,000 bales to the city annually-about 94 percent of all local cotton trade. The locally based Cotton Belt Line, a railroad formed in 1879, created connections to Dallas, Laredo, and western territories. Transportation connections made St. Louis a center for warehousing and wholesaling goods by the turn of the century. The steady number of people moving west to western farms and newly formed towns also needed farm equipment, supplies, materials, and manufactured goods in exchange for the crops and raw materials they produced. Hardware, groceries, cans, coffee, dry goods, shoes, clothing, lumber, and furniture either started or passed through the St. Louis economic gateway. St. Louis ranked among the largest cities producing a range of different products at various times during the Gilded Age: first in production of lead paint pigments, plug chewing tobacco, and flour milling; the largest west of the Mississippi in coffee distribution, with substantial operations in groceries, lumber, and meat processing. It lost its top national ranking in flour milling to Minneapolis in 1890, and dropped from fifth to sixth in meat packing in the next decade. Furs returned as a major commercial product by the 1920s, with local dealers trading in pelts from Alaska and northern Canada. THE HINGE CITY ECONOMY Much of the heavy wholesale trade and warehousing after 1891 centered on Cupples Station, a complex of eighteen buildings constructed between 1891 and 1914 by Robert Brookings and woodenware distributor Samuel Cupples. Since the Terminal Railroad Association lines ran through it, Cupples Station connected lines west with Eads Bridge traffic. Cupples capitalized on this role of St. Louis as a hinge point between east and west, providing warehouse space right on transportation lines. The garment industry continued to expand in its own district. Garment companies developed on Washington Avenue to meet growing markets in the clothing industry spurred by the new mail-order retail business in the 1880s. Some produced ready-made clothing; N & J Friedman's, for example, employed some 500 workers at its 8th and Lucas factory at the start of the new century. Others supplied large mail-order houses such as J C Penney. Garment manufacturer Hargadine & McKittrick opened its own retail operation, purchasing the William Barr Company. Its store occupied the first eight floors of its new Railway Exchange Building, with the rest to house railroad companies' offices. When the building opened in 1908, its twenty stories made it the tallest building in the city. Problem was, though, that the railroads didn't occupy office space. Construction cost overruns and doing without this rental income forced Hargadine & McKittrick to sell its department store to the May Company in 1911. ======== http://www.forbes.com/forbes/061796/lenzner.htm By Robert Lenzner and Bruce Upbin STANDARD OIL founder John D. Rockefeller had a younger brother, William. At the times of their deaths--John D. died in 1937, William in 1922--both men were fabulously, but not equally, wealthy. Today John D.'s some 200 heirs share a fortune worth well over $6.2 billion. William's some 200 descendants are worth maybe $300 million. But give William's descendants this: Some of them have a real talent for intrafamily bloodletting. In courtrooms up and down the East Coast, once-close siblings have become the bitterest of enemies. Greed and envy have pitted cousin against cousin, a son against his mother. At first a partner with his older brother, William Rockefeller sold most of his Standard Oil stock to John D. just after 1911, according to family lore. He reinvested the proceeds in railroad companies and in real estate. He divided his estate among his four children, including son Percy Rockefeller, who unfortunately died at age 56, in 1934, soon after Franklin Roosevelt pushed through a 60% estate tax. To pay it and to settle strike suits, his executors were forced to liquidate securities at bottom-of-the-Thirties-market prices. ======== (The following shows that James Stillman's two daughters were each married to a Rockefeller.) Shareholders - National City Bank - N.Y. | ----------------------------------------- | | / James Stillman / Elsie m. William Rockefeller / Isabel m. Percy Rockefeller / William Rockefeller Shareholders - National Bank of Commerce N. Y. J. P. Morgan ---------------------------------------------- M.T. Pyne Equitable Life - J.P. Morgan Percy Pyne Mutual Life - J.P. Morgan J.W. Sterling H.P. Davison - J. P. Morgan NY Trust/NY Edison Mary W. Harriman Shearman & Sterling A.D. Jiullard - North British Merc. Insurance | Jacob Schiff | Thomas F. Ryan | Paul Warburg | Levi P. Morton - Guaranty Trust - J. P. Morgan|| =========== http://www.scry.com/ayer/COM_BANK/4419126.htm Burr, Anna Robeson THE PORTRAIT OF A BANKER: James Stillman, 1850-1918 LC 75-2624 New York, 1927 ISBN: 0405069502 illus. $36.95 Though the author admits to "a certain sketchiness of background in dealing with the financial developments of the nineties," this biography of the president of New York's National City Bank (1891-1909) contains much useful information not to be found elsewhere on the growth and policies of this important banking institution. DECLARATION & DISCLAIMER ========== CTRL is a discussion and informational exchange list. Proselyzting propagandic screeds are not allowed. Substance�not soapboxing! These are sordid matters and 'conspiracy theory', with its many half-truths, misdirections and outright frauds is used politically by different groups with major and minor effects spread throughout the spectrum of time and thought. 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