I.T.T. Works Both Sides of the War
The multi-national giant International Telephone and Telegraph (I.T.T.)1 was founded in 1920 by Virgin Islands-born entrepreneur Sosthenes Behn. During his lifetime Behn was theepitome of the politicized businessman, earning his profits and building the I.T.T. empire through political maneuverings rather than in the competitive market place. In 1923, through political adroitness, Behn acquired the Spanish telephone monopoly, Compania Telefonicade Espana. In 1924 I.T.T., now backed by the J.P. Morgan firm, bought what later becamethe International Standard Electric group of manufacturing plants around the world.The parent board of I.T.T. reflected the J.P. Morgan interests, with Morgan partners Arthur M. Anderson and Russell Leffingwell. The Establishment law firm of Davis, Polk, Wardwell, Gardiner & Reed was represented by the two junior partners, Gardiner & Reed.
Directors of I.T.T. in 1933.
Directors Affiliation with other Wall Street firms:
Arthur M. ANDERSON - Partner, J.P. MORGAN and New York Trust Company.[1]
Hernand BEHN - Bank of America.[1]
Sosthenes BEHN - NATIONAL CITY BANK.[1]
F. Wilder BELLAMY - Partner in Dominick & Dominick.[1]
John W. CUTLER - GRACE NATIONAL BANK, Lee Higginson.[1]
George H. GARDINER - Partner in Davis, Polk, Wardwell, Gardiner & Reed.[1]
Allen G. HOYT - NATIONAL CITY BANK.[1]
Russell C. LEFFINGWELL - Partner J.P. MORGAN and CARNEGIE CORP.[1]
Bradley W. PALMER - Chairman, Executive Committee, United Fruit.[1]
Lansing P. REED (S&B 1904) - Partner in Davis, Polk, Wardwell, Gardiner & Reed.[1]
S&B / Others / Related - to be complete
1917 to 1936 - Thomas Cochran (S&B 1894) - Partner of J.P.Morgan & Co.
1929 to 1941 - Artemus L. Gates (S&B 1918) - President of New York Trust Company.
Gayer Domincik (S&B 1909) - Co-founder of Dominick & Dominick.
1929 to 1941 - Paul Howard McGregor Converse (Wolf’s Head 1909) - General Manager, Dominick & Dominick.
John W. Davis (Freemason), adopted son S&K - Partner, Davis, Polk, Wardwell, Gardiner & Reed.
Frank Lyon Polk (S&K 1894) - Partner, Davis, Polk, Wardwell, Gardiner & Reed.
Allen Wardwell (S&K 1895), Son S&B - Partner, Davis, Polk, Wardwell, Gardiner & Reed.
References:
[1] - Book - WallStreet and the Rise of Hitler by Professor Antony C. Sutton
[2] - FYI - Wiki - International Telephone and Telegraph (ITT)
[3] - Walt Whitman Rostow (Rhodes 1936)
Comments