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Linda Minor: Follow The Yellow Brick Road – Part 4

FOLLOW THE YELLOW
BRICK ROAD:
FROM HARVARD TO ENRON

PART FOUR
by Linda Minor © 2002
republished by permission


Earlier Linda Minor On ENRON On Scoop…. FOLLOW THE YELLOW BRICK ROAD - PART 3

The Full Series - Linda Minor On ENRON….
- Part 1. http://www.newsmakingnews.com/lindaminor/lm3,19,02harvardtoenron,pt1.htm
- Part 2. http://www.newsmakingnews.com/lm4,4,02,harvardtoenronpt2.htm
- Part 3. http://www.newsmakingnews.com/lm4,17,02,harvardtoenronpt3.htm


Part Three showed us how America got into the oil business with Saudi Arabia. Edwin Pauley was a spy within the White House, acting as a funnel for campaign funds going to FDR, while at the same time gathering and transmitting information about oil policy and captured Nazi and Japanese assets back to his California business associates. Pauley's importance comes from his role in the 1950's when, with an oil concession from Mexico, he worked with Howard Hughes and George Bush, allegedly exploring for oil in the Gulf of Mexico. Pauley taught Bush how to launder money through corporate subsidiaries to be used for political payoffs as well as in financing of campaigns. Both Pauley and Bush used this system to finance Richard Nixon's presidential campaigns, and it was this laundering scheme which was discovered after the 1972 election, when a check drawn on a Mexican bank account of a subsidiary of a Houston corporation controlled by Bush's friends appeared in the Miami bank account of a Watergate plumber. The Nixon tapes revealed that the financing scheme could blow the lid of the “whole Bay of Pigs Thing.”

Thus, it is important to study Pauley to learn how the money works in politics. It is also important to find out, if possible, where the assets of Pauley Petroleum ended up, as well as to learn what happened to Zapata assets -- because these companies were used by the intelligence group to which the two men owed their loyalty. We know from Part One that Pug Winokur, working under the cover of David Murdock's Pacific Holdings, was involved in distributing the Zapata assets, or the proceeds thereof, to Bush's fellow shareholders, who had elected a board of directors with long-term connections to Shell Oil, AtlanticRichfield (Arco); Apco Argentina, a subsidiary at that time of Transco Pipeline (now the Williams Companies); General Signal Corp. (in which Pauley's friend Sam Mosher was involved), First City Bank of Houston, which was then involved in several joint ventures with N.M. Rothschild bank in London; S. Pearson and Sons, a London-based exploration company through its North American subsidiary, Midhurst; Camco, Inc., a Canadian appliance company controlled by Canadian General Election, in which Queen Elizabeth had the largest block of stock.

In Part Three we also discovered that after Pauley's death, his petroleum company, whose primary asset was a concession to drill in Colombia, was acquired first by Hondo Oil and Gas, a company owned by Robert O. Anderson and his sons. Anderson had operated AtlanticRichfield since 1969 and set up Hondo after his retirement. Hondo borrowed massive amounts of money from Lonrho (formerly the London and Rhodesian Mining Company and never repaid the loans, which were secured by stock options, resulting in Lonrho's acquiring title to all the Hondo stock. The story in Roswell, N.M., Anderson's home, was that “Hondo, founded by Anderson in 1986, was unsuccessful in a South America venture. A well drilled in the mountains of Colombia failed to produce as expected, and Hondo's stock price declined to about 3 cents per share just before the buy-out.” (Click.). (1)

What Lonrho Represents

Although Lonrho had been managed by Tiny Rowland since 1961, the chairman was Duncan Sandys (Lord Duncan Duncan-Sandys), who had not only been married to Winston Churchill's daughter, before she left him and later committed suicide, but also served as Secretary of State for Commonwealth Relations and Secretary of State for the Colonies. The other members of the board have included such notables as (1) Sir George Bolton, who served on the board of the Bank of England for twenty years, as well as having been a board member of the Bank of International Settlements; (2) Sir Edward du Cann, an M.P for 32 years and chairman of Keyser Ullmann, a London merchant bank; (3) Nicholas Elliot, a senior department head in MI6 (see Click.);

(4) Maj. Gen. Sir Edward L. Spears, chairman of Ashanti Goldfields of Ghana in 1967, when Lonrho took it over; (5) Sir Peter Youens, an Oxford graduate, member of the Colonial Administrative Service in Africa before becoming Secretary to Prime Minister Banda when Nyasaland became the independent country of Malawi; and (6) Alan Ball, son of Sir Joseph Ball, a former member of M15 and deputy chair of the secret spy-hunting Home Defence (Security) Executive during World War II. (Click.)

In the same era that former African colonies of Great Britain were gaining independence, riots in urban Black communities were occurring in the United States. Fear of a takeover by blacks was rampant in conservative governments in both countries during that time. South Africa became an independent country in 1961 and Rhodesia (now Zimbabwe) in 1965, at the same time that MI6, formerly known as SIS, took on a greater role in ensuring that British investments there would be protected. (Click.) It has been suggested that Tiny Rowland was brought to Lonrho and used as a tool of intelligence operations to suppress Black-African uprisings against the white minority. (Click.) This same racist fear was vented in 1985 when Tiny Rowland, while still manager of Lonrho and at the same time acting as owner of The Observer, attempted to prevent Mohamed Al-Fayed from acquiring Harrods department stores. (2)

For years Anglo-American Corp. has been a large shareholder of Lonrho. Anglo-American was founded by Cecil Rhodes and operated since his death by the Oppenheimer family. (3) Rhodes left his shares in trust to set up the Rhodes scholarship fund at Oxford. After his death, the fund was managed by Lord Alfred Milner, who set up the Round Table group to administer the trust based on the ideas of Fabian socialism. In the 1920s Lord Milner also was chairman of Rio Tinto Zinc (RTZ), the world's second largest raw materials producing company. Another large shareholder of Lonrho was the British South Africa Company--a trading company founded by Cecil Rhodes and incorporated by royal charter in 1889. In the 1930s this chartered company hired an American to be its president--Thomas Ellis Robins, the son of Major Robert P. and Mary la Roche Ellis Robins, who was born in 1884 in Pennsylvania, a graduate of the University of Pennsylvania and a Rhodes Scholar from 1904 -1907 to Christ Church, Oxford--the first Rhodes Scholar from Pennsylvania. He was also a director of Barclays Bank, African Explosives and Chemical Industries, Anglo-American Corporation of South Africa, Wankie Colliery Co., Premier Portland Cement (Rhodesia), De Beers Consolidated mines, Union Corporation, Rhodesia and Nyasaland Airways, and he was a Trustee of the Rhodes-Livingstone Museum. He became a British citizen in 1912, having married Mary Wroughton from Berkshire that year. In 1946 he was Knighted. He also became a Knight of the British Empire in 1954. In 1958 he was made a Baron, which gave him the title of Lord Ellis Robins, 1st Baron of Rhodesia and of Chelsea. (Click.)

RTZ was formed in the 1870s by China opium trader Hugh Matheson, who was a principal in the Hongkong-based firm Jardine Matheson. The Rothschilds have a significant stake in the company, and Queen Elizabeth II is a significant investor, according to Charles Higham's biography of the Queen. Anglo American and RTZ combined control a stunning percentage of the Western world's most important precious minerals.

Lonrho, which recently changed its name to Lonmin, owned a third of Ashanti Goldfields stock. Rowland lost control of Lonrho in 1993 to German businessman Dieter Bock, who four years later left Lonrho to become President of TrizecHahn Europe and Vice Chairman and a Director of TrizecHahn Corporation. (Click.). Bock traded five UK and German real property projects to TrizecHahn, North America's second largest public property company, in exchange for 4% of TrizecHahn stock. TrizecHahn also owns 16.7% of Barrick Gold, the world's second largest gold producer. Barrick was controlled by Peter Munk, who was set up as chairman, he claimed, by Adnan Khashoggi who owned the company stock.(4) Until recently the entire section of office buildings in downtown Houston where Enron and Halliburton (through its subsidiary, Dresser Industries) leased space was owned by TrizecHahn. The acquisition of this real estate was accomplished in a manner similar to the way Lonrho acquired Hondo--debentures, secured by stock options, not repaid. Munk had merged his company with Trizec, a company created by William Zeckendorf and a syndicate composed of Hill Erlanger of Boston and a branch of the Canadian Bronfman family. Much more about this real estate method of money-laundering will be in the next segment to air later in the summer.

But what we are finding out is that the assets of both Zapata and Pauley Petroleum ended up in the hands of British and Canadian companies, whose shareholders include British aristocrats and the royal family, who are carrying on the looting of what was one a colonial empire. It is interesting to note in this connection that Lonrho (now Lonmin) has its headquarters at 4 Grosvenor Place in London, across the street from Buckingham Palace. Before its demise, Enron had its London headquarters at 40 Grosvenor, at the other end of the block from Lonrho, but still just across the street from the Palace. This real estate in Mayfair was developed by Gerald Cavendish Grosvenor, the Duke of Westminster, who still owns almost all of Mayfair, subject to leases. Enron had 3,000 subsidiary corporations, most of which were based in the Cayman Islands and other British offshore banking territories. The contracts for its online trading transactions provided that they would be performed under the laws of the United Kingdom, even though the location of the company was Houston, Texas. So who really benefited from what happened at Enron? Where did the money go?

Enron must be left for a later segment. We are following Pug Winokur's career, and the goal of this part is to examine the Penn Central Railroad, with which Pug Winokur was involved from 1980 until around 1987, to determine who was involved in that debacle.

ALL ABOARD THE PENNSYLVANIA RAILROAD

Pennsylvania Railroad (PRR), 1962

The merger between the Pennsylvania Railroad and the New York Central Railroad became effective on February 1, 1968. Bankruptcy occurred on June 21, 1970. The build-up to the merger, which had been planned throughout the 1960s and before, is even more fascinating than the aftermath of the crash. The study of the Penn Central railroad could be lumped into a university history class, changing the name from Post-Civil War American History to “The Arrival and Departure of the Railroad in America.” That title would just about cover all the topics conspiracy theorists love to dwell on but do not really understand. A very brief summary is necessary here just to keep the broad outline of our purpose in mind for this series.

Railroads were projects that required the services of investment bankers. After the Civil War, expansion was the watchword in America--moving into and exploring the frontier, developing the resources, farming, mining--which led to the overwhelming need for communication, transportation and distribution. These systems were built using “networks”--which, we will learn, is another word for syndicate. Any project needing money can be drawn as a line beginning at the local area in need of the capital, back to the investment banker, who can be depicted as a circle with a series of lines branching out from his center. These lines connect to the banker's sources of funds for investment. The reason we have such a difficult time understanding history is that most of these sources of funds are secret. The banker tends to promise his clients that he will not reveal their identities to the public, and he accomplishes this goal by use of his friend, the Wall Street lawyer, who drafts legal documents like trust agreements and contracts which remain buried in the lawyer's office, stamped with a big red stamp that reads: “Confidential, subject to attorney-client privilege.” As a result, conspiracy theorists talk about the “Morgan Interests,” the Rockefellers, the Rothschilds, etc., etc., as though these bankers were using their own money. Be assured, they were not. What they were doing was putting together syndicates of capital, melded together with contracts.

Every project begins in a place--usually a small locality where people live. The people who live there don't have the money to pay for the project at the time it is desired. Often, they don't even know they need the project, but someone with a much more global scope has put some numbers together and decided the demographics warrant the project to be built in this locality. The next step is bringing the money from outside the place where the project is to become reality and then to create a financial framework that will cause the resulting cash flow emanating from the local project to return to the sources of the capital that brought the project into being. The framework for how this system of moving the money around is referred to by investment banker types as “the financial model.” Designing a workable model requires not only vision, but also respect for the individual parts that make up the whole. Ending up with a financial model where every component wins, and nobody loses is a very difficult task; usually the will of the capital sources wins out. The only power the localities have been able to wield has been through government action or unions. Seeing this concerted action as detrimental to their interest, wealthy capitalists have devised means of getting around it--such as bribery of officials, funding political campaigns, and limiting labor union effectiveness through control of the workers' pension plans.

If a university history course were designed around teaching Americans about railroads, there would be separate chapters covering various parts of the country where railroads were built. Perhaps the most important chapter would be the story of the Pennsylvania Railroad (PRR) and the New York Central (NYC), which were themselves amalgamations of even shorter lines which had come together under centralized management. Even before John Kennedy took office the Pennsylvania Railroad had been lobbying on behalf of the merger, which JFK did not favor. In fact, he rejected it without too much discussion once he realized that it would result in the loss of a significant number of jobs held by union workers. But Kennedy's opposition did not kill the clamor on behalf of the PRR proposal. They had support from Lyndon Johnson and Richard Nixon, and they played the long odds.

Walter Hubert Annenberg

The largest block of Pennsylvania Railroad stock in 1962 was held by Walter Hubert Annenberg, son of Moses “Moe” Annenberg, who was introduced in Part Two of this series as being connected to the Chicago organization that moved into Los Angeles through Arnold Kirkeby's acquisition of a half-interest in Janss Investment--where Victor Palmieri spent many years of his career. Moe had made sure his son was more acceptable to elite members of the syndicate, having sent his son to The Peddie School, and later to the Wharton School at the University of Pennsylvania (apparently he didn't acquire an academic degree). Peddie was established in 1864 as a Baptist prep school in Hightstown, N.J., convenient to Princeton, Rutgers and the University of Pennsylvania. It is no surprise that the Annenberg Foundation fails to mention Walter's father's syndicate connections to Meyer Lansky and Lucky Luciano, and simply gives him credit for bringing us those wonderful American publications--Seventeen Magazine and TV Guide--not to mention his early fascination with numerous Philadelphia radio and TV stations in the early days of the expansion of those media, before moving into funding of the communications department at the University of Pennsylvania.

Most of Walter's biography set out at the website for the foundation details various “charitable” works, which you will find to be typical for any foundation funded with dirty money; crime pays in the form of buying prestige for the criminal and his family. Walter's second wife was Leonore Cohn, niece of the Columbia Pictures magnate and former wife of Lewis Rosenstiel of Schenley Distillers. Annenberg also served as a Lt. Commander of the Naval Reserve and owned the Philadelphia Inquirer and Triangle Publications. Walter Annenberg had his primary residence in Wynnewood, Pa., but kept another residence near Palm Springs in Rancho Mirage, California (called “Playground of Presidents”), that included a private golf course. Walter funded the campaigns of several successful presidential candidates, and, as a result, was rewarded with the prize plum--appointment as Ambassador to the Court of St. James in London. (5)

Moe Annenberg had based his daily racing wire service out of Milwaukee, after first gaining power by being the muscle behind William Randolph Hearst's Chicago Examiner circulation war. Annenberg's full partner in ensuring Hearst's success was Al Capone, who had worked with Luciano in New York before going to Chicago. (6) It is clear from a description of how the wire service worked that it was this organization for which Jack Ruby worked during the years before he moved to Dallas. (7)

Howard Butcher III, the University of Pennsylvania and Drexel, Harriman & Ripley

The second largest shareholder of the Pennsy Railroad was Howard Butcher III, a 1923 graduate of the University of Pennsylvania. Butcher's father (Howard, Jr.) had graduated from William Penn Charter School in 1893 and attended University of Pennsylvania for two years. He worked as a bond salesman for ten years before becoming a partner of Butcher and Sherrerd, then a member of the board of governors of the Philadelphia Stock Exchange from 1922-46, for which he served as president 1934-40. He joined the board of governors of the NY Stock Exchange in 1924-29 and 1945-49. During World War I he served overseas with the YMCA and was also a member of the Hospital Board of the University of Pennsylvania. (8)

The Butcher family's life was based around the University of Pennsylvania, whose investments they had long helped manage. In fact, it is not really clear whether the Pennsylvania Railroad shares Butcher was holding in his name were actually his or whether they belonged to the University. Following the Penn Central bankruptcy filing in 1970 a cursory investigation was made to discover whether there had been any wrong-doing involving the sale of shares by Butcher & Sherrerd just prior to the bankruptcy. This less-than-thorough inquiry was performed by the law firm of Drinker, Biddle & Reath, which has also had a longstanding relationship with the university. Another firm involved in the inquiry was then called Drexel, Harriman & Ripley, which handled the university's investment account. The orders to sell the university's Penn Central stock were given by George Connell, who continued with Drexel, Burnham & Lambert after the bank changed its name. Drinker, Biddle also handled litigation that was brought as a class action against outside directors of the Penn Central in the early 1970s. One of the attorneys handling this defense was Raymond K. Denworth, Jr., who was a member of the University Board of Trustees until his death in 1999. (9) It can do no harm in reminding the reader at this point that Michael Milken, a summa cum laude graduate of the University of California at Berkeley, finished his M.B.A. studies at the top of his class at Wharton Business School in 1970 when he began working as a researcher at Philadelphia investment bank Drexel Harriman & Ripley. (10)

Drexel Harriman & Ripley had been founded in Philadelphia by the father of Anthony Joseph Drexel, who formed a connection with J.P. Morgan, as well as one in Paris with Harjes & Co. According to Ron Chernow in his book The House of Morgan, in 1895, Morgan took over all the offices, including Philadelphia, even though the name Drexel remained. In 1940 Morgan's link with Drexel ended, and Morgan sold the name to “some Philadelphia partners.” The names of those partners is not known at this time, but it is suspected that the new owners had some connection to the Pennsylvania Railroad. Subsequently, the name was changed to Drexel, Harriman & Ripley, before becoming Drexel Firestone. Burnham & Company acquired the assets of Drexel Firestone in 1973, while owner, I. W. (Tubby) Burnham II, sat on the board of overseers of the Wharton School of the University of Pennsylvania. During the 1970s the board's chairman was Donald T. Regan (who in 1981 became Ronald Reagan's Secretary of the Treasury--a Harvard graduate who served as a Lt. Colonel in the Marine Corps, then spent his career with Merrill Lynch). Also on the Penn University board were Pennsylvania Railroad shareholders Howard Butcher III and McBee Butcher. Burnham sold his Philadelphia investment bank to Baron Pierre Lambert, the Belgian cousin of the Rothschild family and manager of the Banque Bruxelles-Lambert and family mining interests. Family member Jean Lambert married Phyllis Bronfman (while Minda Bronfman married another Rothschild cousin, Baron Alain de Gunzberg). (Click. pdf) and (Click.) and (Click.).

Howard Butcher's partner, Sherrerd, was John J.F. Sherrerd, formerly CFA of Sherrerd & Co., who had previously spent 13 years with Drexel Harriman Ripley, and was a 1952 graduate of Princeton with an M.B.A. from Wharton School of the University of Pennsylvania, 1956. He was also a director of the Brown Investment Advisory-- formed in 1993 as an affiliate of Alex. Brown & Sons--the investment banking company in Baltimore--which merged recently with Deutsche Bank in which the A. Brown subsidiary is now known as “Deutsche Bank Securities Inc.” A. Brown had become a part of Bankers Trust in 1997. (11)

The role of the Drexel firm's involvement in the Penn Central fiasco is not surprising, since in the summer of 1969 Drexel, Harriman & Ripley--with legal assistance from Wall Street law firm Shearman & Sterling--had prepared the first prospectus for Investors Overseas Services (IOS), as the lead underwriter with Banque Rothschild; Guinness Mahon & Co., Ltd.; Hill, Samuel & Co., Ltd.; Pierson, Heldring & Pierson; Smith, Barney & Co., Inc. The IOS public offering related to the transformation of Bernard Cornfeld's Fund of Funds from a Panamanian company to a Canadian corporation to be listed on the Toronto and Amsterdam Exchanges. (12)

It is clear that Cornfeld had discovered a way to launder dirty money through offshore, confidential, bank accounts, and it is clear that some of those accounts must have had an interest in developing the Bahamas as a gambling resort. Whoever ultimately owned the funds that were being laundered, they had ties to banks in Canada, Boston, and the Caribbean.

Richard King Mellon

Mellon had been a director of the PRR since 1934, succeeding his father Richard B. Mellon. Mellons had held a seat on the PRR board since 1856. R.K. Mellon was the senior member of the Penn Central Board at the time of the merger in 1968. He died in June 1970. The Mellon family is very powerful in America. At the time of the Penn Central merger, their major holdings were in Aluminum Corp. of America (Alcoa)--33.85% of common stock individually owned and 25% preferred stock through individuals and foundation; Gulf Oil--70.24% of common owned by Mellons and their companies; Allis Chalmers; Bethlehem Steel; Jones & Laughlin Steel; Koppers United--52.42% of common; Lone Star Gas; Niagara Hudson Power; Pittsburgh Coal; Pittsburgh Plate Glass; Westinghouse. They also owned Mellon National Bank of Pittsburgh and other banks. They controlled numerous foundations, such as A.W. Mellon Trust, Avalon Foundation (Ailsa Mellon Bruce), Sarah Mellon Scaife Foundation, Old Dominion Foundation (Paul Mellon), The Richard K. Mellon Foundation and the Matthew T. Mellon Foundation. Richard King Mellon was the son of Richard Beatty Mellon and nephew of Andrew Mellon; Andrew and Richard B. were sons of William Larimer Mellon. Sarah Mellon Scaife was Richard K.'s sister, and the mother of Richard Mellon Scaife. William (Billy) Mellon Hitchcock was the grandson of William Larimer Mellon, founder of Gulf Oil, and nephew of banker Andrew Mellon. (13)

The Mellon family had close ties with the O.S.S. London station chief David K.E. Bruce was married to Andrew Mellon’s daughter. Also, the Mellon uncles were social friends of CIA director Richard Helms during the late 60s and early 70s. Bobby Lehman, who gave Billy Mellon Hitchcock a job at Lehman Brothers in 1961 also had participated with W.A. Harriman & Co. in aviation issues (Lehman, Billy's father Tommy Hitchcock and Averell Harriman were on the same polo team). Lehman Brothers also financed David Sarnoff’s Radio Corporation of America, which served as Sir William “Intrepid” Stephenson’s headquarters in New York until the O.S.S. was established. Like Drexel & Co., Lehman Brothers would also be bought out by European old-money families. It first merged with Kuhn Loeb and later with the company formed by the merger between Shearson Hayden Stone and Loeb Rhoades--forming Shearson Lehman American Express, which in 1992 was controlled by Edmund Safra and Carl Lindner (each with about 4%). This leads us to wonder who Lindner was fronting for. Could it have been the same old-world aristocrats, heavily involved in the global drug trade?

Richard King Mellon had engaged in some real estate development with William Zeckendorf, who not only assisted the Rockefellers in many developments, but who had formed a corporation called Trizec with a capital syndicate which included a branch of the Canadian Bronfman family, the Boston investment bank of Hill, Erlanger and a British group called English Property which was controlled by Eagle Star Insurance--a company said to be very closely connected to the British Crown, the Rank Organisation and to MI-6. (14)

Mellon had a close relationship with David Bevan, president of PRR, who like Mellon was extremely secretive. He had been on the War Production Board during World War II and a member of the U.S. Lend Lease Mission to Australia, as well as deputy chief of the Economic Mission in London in 1945. Bevan operated a highly confidential investment fund organized in 1962 called Penphil which had 15 shareholders, including Bevan and four senior officers in the PRR Financial Department. Among these officers was Charles J. Hodge, partner in and chairman of the executive committee of Glore, Forgan, Wm. R. Staats, Inc.--the investment bank founded by OSS agent Russell Forgan, in which Maurice Stans was a partner. After the Penn Central merger, the Glore bank would merge with Francis I. DuPont's brokerage company. (15)

As mentioned in Parts One and Two of this series, William Zeckendorf stated in his autobiography that he had been asked to develop Century City in California in the early 1960's but backed out of the deal because of his involvement with the Great Southwest Corp. He sold out his interest in the California joint venture to Richard King Mellon of Alcoa. Alcoa's chairman for many years was Arthur Vining Davis, who created Arvida--another land development company with vast holdings in Florida. Prior to the merger, thousands of acres of land had been sold by the owners of Arvida, the Great Southwest Corp. in Texas and Macco Realty in California, as well as other properties ready to be developed--all near urban areas. This preparation for massive suburban development followed closely on the heels of the Kerner Commission Report and the attempt to de-segregate by forced busing, which merely increased white flight out of the inner city.

Strangely enough, Arvida remained a part of Penn Central and was managed by it until 1983--at least three years after Pug Winokur went to work for Victor Palmieri, who headed Penn Central and its subsidiaries. According to John Taylor in Storming the Magic Kingdom: Wall Street, the Raiders and the Battle for Disney (Alfred A. Knopf, 1987), Penn Central emerged from Chapter 11 bankruptcy in 1978 “with what to many seemed an excessively bureaucratic management.” One of Arvida's executives, Chuck Cobb, joined with Richard Rainwater in a leveraged buyout on behalf of the Bass Brothers. With an investment totaling $20 million, they arranged financing of $183.6 million, secured by Arvida's assets. Six months later they marketed the company to Disney, a corporation which already owned 17,000 acres of land in Florida. The eventual deal with Disney would result in giving Bass Brothers a big block of Disney stock. The land package which Disney had bought in around Orlando, Florida, in the 1950s had been put together for him by Paul Helliwell, former OSS chief of the Far East Division, who was recommended to Disney by William J. Donovan. Disney's investment banker for many years was J.P. Morgan, a firm which worked with Donovan. Helliwell also set up the Castle Bank in the Bahamas to launder money flowing from the sale of drugs from Burma and Thailand used to finance Chennault's airline. Castle Bank would eventually be connected to Billy Mellon Hitchcock's profits from selling LSD to California college students.

BATTLE FOR NEW YORK CENTRAL AND ALLEGHANY CORP.

Robert R. Young

During the long history of the New York Central Railroad, its owners had included the Astor family and the Vanderbilts. When Cornelius Vanderbilt died in 1877, he owned 87% of the stock, which he left to his son William H. Vanderbilt. In 1879 five-eighths of the stock was sold with the help of a syndicate controlled by J.P. Morgan, who then became a board member of the railroad. According to Ron Chernow, in his book The House of Morgan, the “Morgan-led syndicate” had the job of liquidating 250,000 shares without collapsing the price of the stock. J.P. Morgan bought 1/5 of the shares available. “The syndicate allotted 20,000 shares to Jay Gould, 15,000 to Russell Sage, and 10,000 to Cyrus Field.” Apparently the remainder of the shares were sold “abroad,” primarily in London. Morgan obtained proxies to vote these foreign-owned shares. The Morgans retained control of the railroad until a new assault occurred in 1916 with passage of anti-trust legislation. The Central had sold off one line called the Nickel Plate Railroad to the Van Sweringen brothers from Cleveland, Ohio. With financing arranged by the House of Morgan and Guaranty Trust the Van Sweringens made one purchase after another by using existing holdings as collateral for new acquisitions, with loans from Morgan.

Thus, like the Murchisons, who would come later, the acquisitions were all with borrowed funds. This is extremely important in understanding ownership of an asset. Even if title is in my name, if a corresponding debt is outstanding, I do not own the asset; the creditor does. The purpose of this type of transaction is purely and simply a subterfuge to disguise the actual owner. It is no different from having a hidden trust agreement which contractually allows one person to secretly hold title in his name for the benefit of another. The legal documents may look different, but the result is the same.

In January 1929 the Morgan Bank issued new stock for the Alleghany Corporation as a holding company for the railroad lines it owned, foremost of which was the Chesapeake & Ohio, but also the Erie and the Missouri Pacific. (16) When Alleghany stock led the crash the following October, Morgan and Guaranty Trust led a syndicate that furnished a $40 million rescue loan that secretly replaced the Van Swerigens. Default in the first loan payment resulted in foreclosure the following year, which officially put the Morgan banks in control of the equity. But, of course, we don't know the source of the funds Morgan was using for this purpose. According to Charles Higham [Wallis: Secret Lives of the Duchess of Windsor. London, 1989], J.P. Morgan was “a chief investor for [Queen Elizabeth's father and mother] King George VI and Queen Elizabeth” long before he became king after his brother abdicated. Morgan had issued shares of Alleghany preferred stock, “in a storm of controversy,” which were acquired by Solomon Warfield for his niece Wallis Simpson, who would later marry King Edward VIII, the brother of King George. Wallis inherited these shares when her uncle died in 1927. In fact, they had been her favorite investment because they were one of the few stocks that did not suffer during the 1929 stock market crash.

Charges were made beginning in 1935 when the Morgans held an auction in which the Van Sweringens were allowed to bid on their former empire and obtain it for a mere $3 million, with borrowed funds of course. Within a short time both brothers had died, and the team of Robert Ralph Young and Cyrus Eaton (allegedly a tool of John D. Rockefeller) were able to acquire the largest block of shares of Alleghany. However, the other shares, voting together, kept Young from gaining a seat on the board. Ron Chernow refers to Young as “certifiably America's most rabid Morgan-hater.” He says he “smarted after being rebuked by Tom Lamont for his testimony at the Wheeler railroad hearings in the late 1930s.” Burton K. Wheeler, the Senator in charge of the hearings, was a friend of Young's, according to Charles Higham. He was opposed to the Lend-Lease program and to America's entry in World War II, and was a founder with Charles Lindbergh and Norman Thomas of the America First Committee. (17) At the time of the hearings, Young was chairman of the Chesapeake & Ohio Railroad--parent of the Baltimore & Ohio, which eventually merged with the Seaboard Airline running from Baltimore to Florida. (18)

Allan Price Kirby

By 1941, Young had gained support of Allan Price Kirby, who joined with him in acquiring even more shares, with the same result; they were still locked off the board. Kirby's father, Fred Morgan Kirby, from Wilkes-Barre, Pa., had been the partner of F.W. Woolworth in creating the five-and-dime corporate empire. Although Kirby did not travel in the same jet set lifestyle in Palm Beach, Florida with Robert Young, it is clear that the heirs to F.W. Woolworth's fortune did. One of the heirs was Barbara Hutton, niece of E.F. Hutton, referred to as the “poor little rich girl.” Her first cousin was Jimmy Donahue, the flagrant homosexual companion of the Duchess of Windsor for a three-year period in the early 1950s. Other wealthy Palm Beach socialites included the Dodge family, who had married into the William Rockefeller family. Like Kirby, the Rockefeller companies were based in Morristown, N.J. William Rockefeller and his partner James Stillman had founded the National City Bank, which has a long history of laundering “dirty money.”

Whether it is a coincidence or not, it was also in 1879--the year J.P. Morgan liquidated 5/8 of the Vanderbilt shares-- that Robert R. Young's grandfather, an Englishman named Robert Moody, arrived in Canadian, Texas and began ranching and banking operations. The Moody ranch was located in the northeast section of the Texas Panhandle and was surrounded by ranches like the LIT and the LX, which were owned by syndicate investors from England and Scotland.

Walter W. Foskett

Young and his wife Anita were introduced to the Duke and Duchess of Windsor in Palm Beach, Florida by their mutual friend Walter Foskett, who acted as the Duke's American attorney while he was governor of the Bahamas. Foskett was also the attorney for Sir Harry Oakes (who owned the second largest mining company in Canada) and Harold Christie (former bootlegger), members of a consortium (called Tesden Corporation) suspected of “shady dealings” in the U.S. and Caribbean. Foskett was also a director of Alleghany Corporation. Walter W. Foskett grew up in Logansport, Indiana and was the son of an engineer on the Pennsylvania Railroad. He began law school at Indiana University but after two years was forced to drop out for financial reasons. After working for a year as a railroad clerk earning $65 a month, he was able to return to school and graduated in 1907. He accepted a position in a Logansport law firm after a brief period in Seattle. Later he established his own practice and served one term as the Logansport city attorney and moved to Miami Beach, Florida in 1922. There he established the law firm of Winter Foskett with a long-time friend, Bert Winter. Foskett died in 1973.

It soon becomes obvious what the relationship was between the Windsors and Foskett. Reading between the lines, we may surmise that between 1907 and 1922 the Logansport economy was very dependent on the railroad which ran through the town. It is difficult to sort out all the small rail lines during these years, which would eventually be consolidated into larger lines; however, it appears that the main rail line through Logansport was owned by a Kentucky chartered company--the Louisville & Nashville Railroad (L&N)--a competitor in the area with the Pennsylvania and the New York Central. L&N had connections into the port areas of New Orleans area, Virginia and Georgia, which primarily were destinations of the interior connections primarily in the coal producing areas of Kentucky, Indiana, and Illinois. Through acquisitions in Indiana and Illinois in 1969 it became an important Midwestern rail center.

For many years 35% of the stock of L&N was owned by the Seaboard Coastline Railroad--controlled until his death in 1927 by Solomon Warfield, the uncle of Wallis Simpson. In 1969 the Seaboard bought the remainder of the outstanding shares, and the L&N became the wholly-owned subsidiary of Seaboard Coast Line Industries. In 1976 the Toledo, Peoria & Western (TP&W) -- a bridge line jointly owned by the PRR and ATSF -- bought the L&N unit line from Penn Central trustees. On December 31, 1982, the corporate entity known as the Louisville & Nashville Railroad Company was officially merged into the Seaboard System Railroad, ending the L&N's 132-year existence under a single name. The Seaboard System quickly lost its own corporate identity as it and the Chessie System became CSX Transportation in 1986 (Click.) and (Click.). The Duke had abdicated in 1936 following his marriage to Wallis. His family had given him the post as governor of the Bahamas in 1940, which he viewed as exile. At that time the islands that comprised the Bahamas were undeveloped, but the Duke was planning to build a resort in the Out Islands, along with his Bahamian associates. While he was stationed there his activities were closely monitored by the FBI, as well as by the British, who felt he was pro-Nazi and a threat to the war effort. The Americans were concerned because they intended to build a naval station at Andros Island, not far from where the Duke was meeting with his pro-Nazi friends.

Pro-Nazi Cabal in The Bahamas

The Duke met repeatedly with American businessmen such as Irish-American, James Mooney of General Motors, European division, whose factories in Berlin manufactured tanks for Hitler's use. As it turns out, Robert Young had a great deal in common with Mooney. Most of Young's professional background was connected to the DuPont financial empire. He worked for Pierre S. du Pont at the same time John J. Raskob was the company's treasurer, and later moved to General Motors after Raskob, who was secretary treasurer of the Christiana Securities Company, convinced Du Pont to invest in General Motors in 1914. Raskob, from 1918 to 1928, was vice president and chairman of the Finance Committee of General Motors, as well as vice president in charge of finances at DuPont. By 1920 GM comprised half the earnings of DuPont, but the company, as a result of a federal antitrust investigation, disposed of its stock in 1961. Robert Young is said to have had a falling-out with Raskob prior to the 1929 crash. As a result, Young left GM, and made a fortune for himself shorting stock. (19)

It was not until 1954 that Young gained complete control of the Alleghany with the assistance of two fellow Texans, Clint Murchison, Sr. and Sid Richardson [uncle to the notorious Bass Brother of Fort Worth--his heirs], who bought Alleghany stock with loans from the corporation and voted the shares in favor of Young. Along with various railroad segments that were consolidated to create the line were numerous pieces of real estate that were owned as part of the property of the railroad. Such real estate included the Grand Central Terminal, the Waldorf Astoria Hotel and the Bank of New York Building. It also included what was then called the Pan Am Building, but later changed to the Met Life Building at 200 Park Avenue. This building was built just north of the terminal's main concourse by the New York, New Haven and Hartford Railroad, which owned an interest in the land as a subsidiary of the New York Central. The company which built it received one-fourth of the financing ($25 million) from Jock “King” Cotton, an English investor who was a member of the syndicate group that typically was involved in projects with William Zeckendorf. The building was named “Pan Am” because the new airline company was the major tenant at the time. In 1981 Grand Central Buildings, Inc. sold its interest to Metropolitan Life Insurance Co. It is currently the address for the Home Loan Bank of New York. When it opened in 1963, 200 Park Avenue was the largest privately owned office building in the world.

For some reason, this building was the headquarters of the United Fruit Company at the time Eli Black jumped from his office on the 44th floor. (20)

The plan to develop The Bahamas proceeded in Freeport under the direction of Wallace Groves, who had been convicted in 1941 of mail fraud, but who appeared in the Bahamas shortly after that. In 1955 Groves obtained a concession from the government granting 50,000 acres of land to Grand Bahama Port Authority Ltd., with an option of adding an additional 50,000. The Port Authority, which Groves headed, was relieved from paying taxes on income, capital gains, real estate and private property until 1985 - a provision that has since been extended to the year 2054. Groves convinced the shipping tycoon D.K. Ludwig to construct a harbor, and in 1962 he brought in Canadian mobster Louis Chesler to develop the tourist center of Lucaya. Groves also operated Intercontinental Diversified Corporation, using as his attorney Paul Helliwell, former O.S.S. Chief of Intelligence in China, where he had met numerous times with Ho Chi Minh in 1945. (21)

After the O.S.S. was disbanded Helliwell worked within the War Department Far East intelligence division before opening a law firm in Miami where he worked for the CIA, handling corporate legal matters. Helliwell represented Claire Chennault in financing his airline with drug smuggling, and contracting with the CIA's sister agency, Office of Policy Coordination, headed by Frank Wisner, before the two agencies were merged in the 1950s. (22) Sea Supply Corporation was set up in Miami in 1949 with its main office in Bangkok, Thailand. Helliwell in 1952 was attorney for Sea Supply, as well as general counsel for the Royal Consulate of Thailand, the address of which was Helliwell's law office. Sea Supply was a cover for Chennault's Civil Air Transport (CAT), while also channeling assistance to Thailand's police chief who was involved in the opium trade. Once the Far East money stream was set up, Helliwell focused on Guatemala and helped Frank Wisner and Tommy Corcoran--lobbyist for the airlines and for the United Fruit Co. --orchestrate the coup which forced President Arbenz into exile. Helliwell acted as “paymaster,” the man who made the off-the-books payments with cash that did not appear on government budgets. Helliwell also headed the Republican Party in Florida, bringing him into contact with Bebe Rebozo, one of Richard Nixon's biggest financial supporters.

Helliwell's law partner Mary Jane Melrose, moved to Freeport, The Bahamas, in 1969 serving as an officer and director of the Port Authority and also of Intercontinental Diversified. Payoffs were made to the Prime Minister from the corporation's accounts, which had been laundered through the Castle Bank & Trust, set up by Helliwell's law firm. The year before Melrose began handling operations personally from the island, the Port Authority had considered transferring shares to a Philippine mining company named Benquet, founded in 1903. The group Helliwell represented was involved in a consortium with a group represented by Allen & Co.--a merchant bank in New York composed of Charles and Herbert Allen, who held the largest block of Benquet stock. According to J. Bryan III and Charles J.V. Murphy in The Windsor Story (Dell 1979), Charles Allen of Allen & Co. was one of the Duke of Windsor's most respected advisers (p. 609). Bryan and Murphy also indicate that Clint Murchison sold to both Robert Young and the Duke shares in his Canadian Delhi, from which the Duke made a profit of more than half a million pounds. While the three of them were in Mexico, Young attempted to sell used rolling stock there, while Murchison attempted to buy mineral rights to offshore properties.

The parent company for Castle Bank was Freeport's first bank, Mercantile Bank & Trust (founded in 1962), which owned one of the five shares of Castle. Mercantile had itself been formed by a syndicate which included the Cayship Investment Co. of Panama and other entities owned by Daniel K. Ludwig. Legal documents revealed that Mercantile had been set up by Inge Gordon Mosvold, a Norwegian shipbuilder. By 1965 Paul Helliwell was a director of Mercantile Bank. Documents also showed a close connection between Helliwell and the Chicago law firm of Burton Kanter, who was a tax attorney for members of organized crime in Chicago, whose primary means of laundering money was into hotel chains.

Surprisingly, this Bahamian finance scheme coincided with much of the political background of Richard Nixon, whose first government job was in 1943 at the Office of Price Administration, where he met Cuban American Bebe Rebozo and future-Senator George Smathers. Nixon's job was to regulate the prices of rubber goods, which were rationed during the war. Smathers was an attorney for crime figures smuggling tires from Cuba, while Rebozo owned a gas station from which he sold the tires on the black-market. A few years later when Nixon ran his first campaign for Congress, he was assisted by mobsters working for Mickey Cohen, who sold heroin in Los Angeles. Through Rebozo, Nixon also met other organized crime figures, many who had been involved in Cuban casinos before Castro threw them out. Some of these men set up businesses in The Bahamas, once it was developed. Nixon was an attorney for National Bulk Carriers, which had contracts with General Development Corp., run by Wallace Groves and Lou Chesler, to build the harbor. In his presidential campaigns, Nixon was the first Republican to have union support--from the Teamsters, headed by James Hoffa, who loaned hundreds of millions of dollars from the Central States Pension Fund for construction of casinos in Las Vegas. [Source: Gary W. Potter, Professor, Criminal Justice and Police Studies, and sources cited therein.]

Alleghany Corp., IDS, Money Laundering, and Richard Nixon

Once Young gained control of NYC, he appointed Alfred Perlman to be president. Working with Perlman for many years was Wayne Hoffman, who left the railroad one year before the merger took place. Hoffman became chairman of the Flying Tiger Airlines in Los Angeles. This is the airline mentioned in a previous part of the series which was set up in California by pilots in Claire Chennault's squadron in China, who had flown opium for Chiang Kai-Shek. While the Flying Tiger group were making deals with Edwin Pauley and his friends in Mexico, Claire Chennault was letting Paul Helliwell set up a system to finance his airline by laundering drug money from Burma and Thailand. Hoffman serves as a link between these airlines and the Penn Central. One attorney in California for the Flying Tiger Line was Herbert Kalmbach, who was on President Nixon's staff. Nixon was also connected to the Penn Central by virtue of his own legal work, prior to his election, for Investors Diversified Services (IDS).

In 1954, Robert Young had sold Clint Murchison, Sr. a 24 percent interest in IDS, whose three subsidiaries sold savings certificates and other securities. This $5 million investment increased in value to $7 million in three months. Incredibly, when Kirby and Young bought IDS in 1949, they paid less than $2 million, though by 1959 it grew to control assets worth $3.4 billion. Accusations of insider trading were made, and in 1959, after Robert Young's suicide, Allan Kirby convinced Murchison to give back his voting shares of IDS in exchange for non-voting shares. Kirby controlled Alleghany, and, after the exchange, Kirby controlled 48% of the voting shares of IDS, allowing Kirby to squeeze out Murchison and his two sons, to whom he transferred his stock--at about the same time all the Texans were kicked off the board. At that point the Murchison brothers decided to wage a proxy fight against Kirby, which lasted two and a half years. The brothers also sued Kirby for $100 million for conspiracy and fraud, losing in the U.S. Supreme Court.

Alleghany Corp. owned almost a million shares of New York Central stock. But by far the most valuable asset was IDS. By the end of 1962, a year and a half after winning the proxy fight, the Murchisons decided to sell their interest in Alleghany to Bertin C. Gamble, from whom Young had acquired it in 1949. By this time, the stock was worth $300 million. There can be no question but that this was a money-laundering operation. Gamble quickly sold the stock to Allen Kirby and two associates. It would have been around this time that Richard Nixon moved to New York and began representing IDS. Two years later, the Pennsylvania Railroad, while working toward a merger with the New York Central, began a buying spree. The board bought land in California, in Texas and in Florida. It bought a company called Executive Jet Aviation, with David Bevan spending $21 million without board approval, without requesting CAB approval for the railroad to operation an air carrier. Penphil, the secretive investment group operated by David Bevan, also purchased 10,000 shares of Tropical Gas Co., Inc. in 1963, and continued buying through 1968. After the Penn Central merger Tropical exchanged shares with U.S. Freight Co. when the two corporations merged in October 1969. In 1969 most of the board members of Tropical had connections to Glore Forgan. Tropical had borrow from one director's bank in Miami, a bank which also made construction loans to Arvida and loans to PRR to buy Arvida stock. Penphil also had loans from Chemical Bank of New York to finance various investments.

The question is whether the looting was planned all along, or whether it just got out of hand. What arrogance led these men to believe that they could spend so much money and accumulate so much debt without the entire structure collapsing around them? Unless of course, the plan all along was to use the land to launder drug money; the value of the stock hit bottom before they could fulfill the plan. Then Richard Nixon failed to push through the bailout loans from the government when Congress objected. Bankruptcy was filed in 1970, and Victor Palmieri was called in to protect the assets. And the system was still operating during the 1972 election. Remember the Dahlberg check? Dahlberg lived in Minnesota (home of IDS) and made a contribution there to the Committee to Re-Elect Nixon. This check went to Maurice Stans, apparently, and then out to Houston, Texas where Bill Liedtke bundled it with cash and another check drawn on a bank account in Mexico from a subsidiary of a Houston corporation.... But isn't this where we came in? Watch for Part Five, which will make this connection even more apparent.

++++++

Notes:

(1) Colombia's petroleum production today rivals Kuwait's on the eve of the Gulf War. The United States imports more oil from Colombia and its neighbors Venezuela and Ecuador than from all Persian Gulf countries combined. Stan Goff, a former U.S. Special Forces intelligence sergeant, retired in 1996 from the unit that trains Colombian anti-narcotics battalions. Plan Colombia's purpose is “defending the operations of Occidental, British Petroleum and Texas Petroleum and securing control of future Colombian fields,” said Goff, quoted in October by the Bogotá daily El Espectador. “The main interest of the United States is oil.” Colombia's known oil reserves amount to 2.6 billion barrels, far fewer than those of the world's major oil powers. But only about 20 percent of the country's potential oil regions have been explored, due to the violence. Colombia's biggest foreign investor is BP Amoco, formed when British Petroleum merged with Chicago-based Amoco in 1998. The London-based giant controls Colombia's largest oilfield, a 1.5-billion-barrel trove called Cusiana-Cupiagua in the northeastern province of Casanare. A 444-mile pipeline called Ocensa carries BP Amoco oil to the Caribbean port of Coveñas for export. Los Angeles-based Occidental Petroleum helps operate the nation's second-largest oilfield, Caño Limón, holding 1 billion barrels in Arauca, a province just north of Casanare. Occidental pumps away its share through a 485-mile duct to Coveñas. The June announcement confirmed a deposit about 55 miles southwest of Bogotá. An international consortium led by Canadian Occidental Petroleum expects as much as 300 million barrels from the oilfield, called Boquerón, making it the nation's third-largest deposit. Many of these companies have led the fight for U.S. military aid to Colombia, the world's third-largest recipient of U.S. security assistance. In 1996, BP Amoco and Occidental joined Enron Corporation, a Houston-based energy firm, and other corporations to form the U.S.-Colombia Business Partnership. Since then, backed by hefty oil-industry donations to political candidates, the partnership has lobbied hard for increased aid. Oil will remain a U.S. military priority under President George W. Bush if his campaign donors and cabinet appointees have any influence. The top source of cash for his presidential and Texas gubernatorial bids was Enron and its employees, including CEO Kenneth L. Lay, according to the Center for Public Integrity. Enron, one of the companies that led lobbying for Plan Colombia, owns Centragas, a 357-mile natural gas distribution system in northern Colombia. http://www.globalexchange.org/colombia/021501.html

(2) In 1985 the largely unknown Fayed brothers paid $689 million in cash for the House of Fraser retail chain (whose flagship was Harrods). Two years later, the Department of Trade and Industry--at the instigation of al Fayed's chief rival for control of Harrods--began investigating the family. Its report, published in 1990, concluded that the brothers did not hail, as they had claimed, from “an old Egyptian family” with a 100-year history of landownership and shipbuilding. “The image created...of their wealthy Egyptian ancestry was completely bogus,” the report said. The government further concluded that the money al Fayed used to purchase Harrods could not have come from an inherited fortune, as he claimed, but was probably put up for al Fayed by his associate, the Sultan of Brunei, the world's wealthiest man. Al Fayed was not accused of breaking any law, and he and the Sultan denied the charges. Al Fayed bitterly attacked the report as a smear. “They could not accept that an Egyptian could own Harrods, so they threw mud at me,” he once said. But acquaintances of his in Alexandria also describe the Fayeds as a modest family: al Fayed's father was a language teacher, and al Fayed grew up on the rougher side of town. He started as a small-time trader there, selling Singer sewing machines and Coca-Cola. In the early 1950s the future Saudi billionaire Adnan Khashoggi offered al Fayed a share in a Khashoggi business that exported Egyptian-made furniture to Saudi Arabia. The company took off, and not long after, al Fayed married Khashoggi's sister Samira, who gave birth to Dodi in 1955. He divorced her after two years and went into the construction business in the United Arab Emirates. After befriending Dubai's ruler, al Fayed won big development contracts for British firms prowling the Persian Gulf. “Of course,” says Khashoggi, “there were fees and commissions.” This brokering was the foundation of the Fayed family fortune. http://www.time.com/time/magazine/1997/dom/970915/princess.outside_lokin.html and http://www.guardian.co.uk/hamilton/article/0,2763,195658,00.html and http://www.porters.uk.com/covent/movers/default.asp?ID=12 For more on Khashoggi's dealings, see http://www.redherring.com/mag/issue107/627.html

(3) The following is an excerpt from a 1988 article written by John Summa called “ANGLO-AMERICAN CORPORATION: A PILLAR OF APARTHEID”: Anglo owns 39 percent of Minorco's stock and De Beers another 21 percent. Minorco has a 30 percent stake in Engelhard, an international producer of platinum with sales of over $18 million annually. Through the company's New York headquarters, Engelhard buys gold, silver and platinum from South African mines and refines them at plants in the United States and abroad. Power appears to be shared with U.S.-based Philipp Brothers, a multinational trading firm that possesses a CIA-like communications and intelligence network, and is involved heavily in South African metals. [Note: In Part Two of this series Engelhard was identified as a client of Russell Forgan, investment banker at Glore Forgan and former O.S.S. agent who became closely connected to European companies like Italian SuperPower. Forgan's investment bank, which later merged with F.I. DuPont, was at the center of Penn Central purchase of land and other assets that led to its bankruptcy.]

Anglo also has a presence in the United States, which extends to minerals such as copper, zinc, gold, silver, nickel and coal, by way of the Inspiration Resources Company, in which it has a 59 percent share. Minorco previously had a 14 percent stake in Salomon Brothers, Inc., a U.S. investment bank, which it sold in 1987. Minorco has offered $4.9 billion to acquire Britain's Consolidated Gold Fields Plc., the world's second largest gold producer. Purchasing Consolidated Gold would greatly expand Anglo-American's mineral holdings, particularly in the United States. Consolidated Gold owns 30.7 percent of Peabody Holding, the United State's biggest coal producer, and 49 percent of the U.S.-based Newmont Mining Corp. Almost a third of Consolidated Gold's profits are generated in North America.

Anglo-American's character is a reflection of the designs of South Africa's Oppenheimer family. Sir Ernest Oppenheimer took over the mining enterprise from late 19th century English mining magnate Cecil Rhodes. He built a diversified company out of initial investments in diamonds and other gems, which he passed on to his son, Harry Frederick Oppenheimer. When Anglo-American was set up in 1917, half of the initial capital supplied came from U.S. investors, with the condition that Oppenheimer's first choice for the company's moniker, “African-American,” be changed to Anglo-American, because “African-American would suggest on this side our dark-skinned fellow countrymen and possibly result in ridicule,” a cable from the U.S. investors stated. The company in 1929 bought De Beers from successors of Cecil Rhodes.

Through Anglo, the Oppenheimers own shares in all of South Africa's mining houses. In fact, the houses have cross-holdings with each other, making the block of capital quite formidable. But the extent of Oppenheimer wealth and power does not stop there. They are owners of the nation's largest steel works, travel agency, brick factory, discount house, auto dealership and computer software firm. The Oppenheimers are not afraid to employ their power to get what they want. On the issue of apartheid they have ostensibly taken a reformist position and have crafted an image for themselves as defenders of the rights of black workers by supporting abolition of the pass laws and the Group Areas Act, the cornerstones of the apartheid political structure. http://multinationalmonitor.org/hyper/issues/1988/09/mm0988_08.html

(4) http://www.corpwatch.org/bulletins/PBD.jsp?articleid=420 . According to Robert Lacey's book, The Kingdom: Arabia and the House of Saud, Mohammed bin Laden was a patient of Khashoggi's father, a prominent Iranian physician. The young Khashoggi became a middleman for the bin Laden conglomerate in the late 1950s, getting his start by negotiating a big truck sale that earned the Iranian $25,000. http://www.straightgoods.ca/ViewNote.cfm?REF=1173. “Of all the bin Ladens, it was Saleem who had the close relationship to the Bushes. The connection was a Houston wheeler-dealer named James Bath, who haunted the darker back corridors of the Bush-Reagan years, amid the fragrance of scandals ranging from Iran/contra to BCCI to the Silverado Savings and Loan debacle to Iranian weapons mogul Adnan Khashoggi. ... In the mid-1970s, Bath became vice-president of Atlantic Aviation, one of the world's top business-aircraft sales companies. At the time, Atlantic was owned by Edward DuPont, of the DuPont chemical empire. DuPont's brother, Richard, served on the board of Atlantic. According to Gerard Colby's excellent book, DuPont Dynasty, Richard's own company, Summit Aviation, was a longtime CIA contractor. ...Through the bin Ladens, Bath was also introduced to Sheik Khalid bin Mahfouz, the CEO of the National Commercial Bank, Saudi Arabia's biggest bank. The NC bank was a prime lender for Khashoggi. In 1985, at a time when the arms dealer was moving weapons to Afghanistan, Iran and the contras, NCB loaned Khashoggi $35 million. Bath would team with Khalid, and former Texas governor John Connally, in buying the Main Bank in Houston, an institution that helped finance the campaigns of many Texas politicians through the late 1970s and 1980s. Khalid's banking empire would eventually extend to a stake in the Bank of Credit and Commerce International, the institution that catered to crooks and spooks. Among other criminal enterprises, BCCI served as Khashoggi's chief bank for his arms deals with Iran, a depository for Oliver North's covert action funds and the conduit for CIA money bound for the Muj in Afghanistan. Khalid was indicted for fraud in 1992....The bin Laden family has also invested at least $2 million in the Carlyle Group's Partner's II Fund, which specializes in the acquisition of aerospace companies. “

(5) http://www.rancho-mirage.com/ and http://www.whannenberg.org/fd.html and http://www.oneworld.org/ni/issue137/affluence.htm and http://csf.colorado.edu/authors/Gaffney.Mason/who-owns-so-calif.html

(6) http://www.drugwar.com/propaganda.shtm

(7) In the deposition he gave, Ruby was represented by four attorneys: MELVIN BELLI, San Francisco; JOE TONAHILL, Jasper, Texas ; SAM BRODY, Los Angeles, California; and WILLIAM CHOULOS, San Francisco, California. (Note: Brody was also attorney for Jayne Mansfield, and was killed in a car accident with her between Biloxi and New Orleans in 1967 http://www.reporter-news.com/1998/opinion/gree1028.html and http://www.gravehunter.com/sam_brody.htm).

http://history-matters.com/archive/jfk/wc/wcvols/wh15/pdf/WH15_Kaufman.pdf

He said that in 1933 he, one AL DUNN, MAURY (last name not recalled) and a third person, whose name he-could not immediately recall, went to Los Angeles, California, where they sold “Collier's Tip Sheet”, which he described as a handicapper's tic sheet for horse races . He said their arrival in the Los Angeles area coincided, as he recalled, with the opening of the Santa Anita Race Track . He related they remained in the Los Angeles area for a few months only and during the same year, 1933, went to the San Francisco area, where he at first engaged in similar activities at the Bay Meadows Race Track . Subsequently, he sold subscriptions to Hearst newspapers, the San Francisco Examiner and San Francisco Call Bulletin, covering San Francisco and small towns in the general area . He said he remained in San Francisco until 1937 and returned to Chicago and was unemployed for a considerable period . In 1941, he related, he, his brother EARL RUBY, HARRY EPSTEIN, MARTY SHARGOL (Phonetic) and MARTY GIMPLE “went on the road” selling punch boards and small cedar chests in numerous Eastern and New England states . He specifically mentioned the states of New York, Connecticut and Pennsylvania . He said he had no fixed address during this period, that the group lived in various hotels .

RUBY related that in late 1941 he returned to Chicago and continued his business of selling punch boards, primarily through mail orders. He mentioned an advertisement was run in Billboard magazine in this regard . He mentioned that during this period he became very closely associated with ARTY WAYNE, a musician. RUBY stated he remained in Chicago until 1942. RUBY said that in 1946, on being discharged from military duty, he returned to Chicago and “prospered” in his mail order business involving punch boards and miscellaneous items . He said his sister EVA had for some time been wanting to operate a night club in Dallas and had moved to Dallas from California . He said he in the meantime had had some friction with his brothers and had sold his interest in their mutual business of selling punch boards and other items to the brothers. He said he sent money to his sister EVA for a lease on a building in which to open a club. ... He said that in the summer of 1963 he flew via American Air Lines to New York City, where he remained for two or three days at the new Hilton Hotel . He said his purpose was to see JOE GLASER, a booking agent, and to see officials of American Guild of Variety Artists in order to register complaints relative to competitors in Dallas . He said he traveled alone . On this trip, he recalls having run into “DANTE”, a magician, in an automat and having -visited or contacted BARNEY ROSS, former well-known prize fighter whom he had known in Chicago . He said on the return to Dallas he went via Chicago and that members of his family joined him briefly at O'Hare Field, the Chicago airport. RUBY said he could recall no other travel outside of Dallas during 1963.

(8) Don't laugh. The YMCA had a very strategic role in the Great War. In fact, the YMCA has a secret history that is difficult to decipher. One of the men who was involved in YMCA activities was Col. Boris Pash, born in 1900 in California, the son of an Eastern Orthodox Russian priest who had been sent abroad by his church in the 1880s. When Boris was ten years old his father was called back to duties in Russia. During the Russian Revolution Boris joined the anti-communist White Russian navy. Being fluent in both Russian and English, he was chosen to be translator in meetings between the Russian and British admirals. When the Bolsheviks seized power, Boris joined the YMCA and was sent to Paris to work in Russian refugee camps, then to the YMCA school in Springfield, Massachusetts, and just prior to World War II he was Director of the Physical Education Department of Hollywood High School in Los Angeles, when he also joined the U.S. Army reserves and was assigned to the Infantry Intelligence Branch and soon received certification by the Federal Bureau of Investigation. In June 1940, he was posted to the Presidio in San Francisco, as counter-intelligence chief of Ninth Corps headquarters. (Note: This is the base where Michael Aquino would later operate his Satanic mind-control operations and pedophile ring from.) When the war broke out he was made responsible for investigating security breaches for secret atomic research information from the Manhattan Project's Berkeley Radiation Laboratory. Pash would later become military commander of Alsos, a military-scientific intelligence force to be directed against Nazi atomic weaponry research. After the war he served as Chief of the Foreign Liaison section on General Douglas MacArthur's staff in Tokyo (1946-47). Later he was the Army's representative to the Central Intelligence Agency (1948-51), and then served as Special Forces planning officer with the U.S. forces in Austria (1952-53). He served as Deputy Assistant Chief of Staff for Intelligence for the Sixth Army (1953-56), and was on the staff of the Assistant Secretary of Defense for Guided Missiles from 1956 until his retirement in 1957. Shortly before his 95th birthday, Colonel Pash died in Greenbrae, California, on 11 May 1995. So don't laugh at the YMCA.! http://www.haigerloch.de/keller/allison.htm and http://www.haigerloch.de/keller/eende.htm And don't forget also young Mark David Chapman, not only stayed at the West Side YMCA, 5 West 63rd Street while stalking John Lennon in December 1980, but had been with the organization for several years, beginning as early as 1975. http://www.courttv.com/onair/shows/mugshots/indepth/chapman.html and http://www.crimelibrary.com/classics4/chapman/2.htm

With reference to Butcher's service to the university, see

http://www.archives.upenn.edu/primdocs/trustees/90s/19910621tr.pdf

(9) http://216.239.35.100/search?q=cache:HZUuV05W7q0C:www.archives.upenn.edu/primdocs/trustees/70s/19701113a4.pdf+butcher+and+sherrerd&hl=en

November 5, 1970 TO THE TRUSTEES OF THE UNIVERSITY OF PENNSYLVANIA:

We have been asked as University Counsel, whether the manner in which the investment banking firm of Butcher & Sherrerd disposed of the University's holdings of stock of the Penn Central Company in May of this year violated any statutes or stock exchange rules relating to the preferring of investment advisory customers over the accounts of the advisory firm or those closely associated with it. In addition to our conversation with Mr. William L. Day, Chairman of the Trustees, we have talked briefly with representatives of Butcher & Sherrerd, with various officers and employees working in the Treasurer's Office and Investment Office of the University, and with George Connell, the officer of Drexel Harriman Ripley, Incorporated, who is in charge of that firm's activities in connection with the University's account. We have seen some of the underlying documentation relating to the brokerage transactions in question, but we have not made a thorough or exhaustive study of the various sales slips and journal entries involved, nor have we attempted to authenticate or supplement in detail the facts as described to us in the brief meetings we have had with the persons indicated above. Under the Investment Advisers Act, to which Butcher & Sherrerd is subject, the duties of the adviser to its customers are broadly stated. ...The Advisers Act was aimed at eliminating conflicts of interest between an investment adviser and his clients. Consequently, an investment adviser must not effect transactions in which he has a personal interest in a manner that could result in preferring his own interest to that of his advisory clients. Furthermore, Whenever trading by an investment adviser raises the possibility of a potential conflict with the interests of his advisory clients, the investment adviser has an affirmative obligation before engaging in such activities to obtain the informed consent of his clients on the basis of full and fair disclosure of all material facts. Full disclosure of such potential conflict must be made to apprise the client of relevant facts so that the client is able to give his informed consent to transactions executed for the client, or to reject such transactions if he so desires.

“We understand that in March 1970, the University in accordance with a general determination made by its Investment Committee, began a gradual reduction of its Penn Central holdings. Butcher & Sherrerd sold for the University's account between March 5 and April 1, an aggregate of 18,500 shares. It was not, however, until May 15 that a definite selling program for the disposition of its remaining 94,714 shares was decided upon and undertaken. We have been advised that during the week of May 18, a substantial number of shares were sold by Butcher & Sherrerd for its own account and for the account of various partners and members of their families, and that most of such shares were sold toward the end of the week. The question, therefore, is whether these sales violated the rules stated above in the Kidder Peabody proceeding.

With respect to the sales by the University on and after May 15, we understand that as a result of a conversation between Mr. Butcher and Mr. Connell of Drexel Harriman Ripley, Incorporated, on May 15, 1970, Drexel Harriman Ripley, Incorporated has given general instructions to sell an aggregate of 42,607 shares of Penn Central. A specific order was marked for sales at $15-3/8, approximately the prevailing market, and 3,000 shares were sold at that price. On May 18, the next trading day, Drexel Harriman Ripley, Inc. sold an additional 2,000 shares at $15-5/8. Butcher & Sherrerd came upon an opportunity to sell an additional 3,000 at $15-l/2, and after checking with Drexel, effected this transaction as a part of the sale instruction for 42,607 shares given Drexel as described above. The market price of the stock declined below $15 on Tuesday and Wednesday, May 19 and 20, and accordingly no shares were sold in accordance with the sales orders at that general level which remained in effect at Drexel Harriman Ripley. In view of the decline in market price and the failure to effect sales at the $15 level, Drexel Harriman Ripley reduced the sale price on Thursday, May 21, to $13-l/4. 100 shares were sold at that price, and an additional 10,000 shares were sold later that day when the Drexel trading department reduced the asking price to $13 flat. On Friday, May 22, when the market price dropped almost two points, Drexel Harriman Ripley entered sale orders “at market” for the remaining portion of its 42,607 sales order and sold all of the University's remaining shares at prices ranging from $11-l/4 to $11-7/8, except for 40,000 shares which Butcher & Sherrerd, on receipt of an order on the Philadelphia Exchange, and after checking with Mr. Connell, sold at $12 per share. ...It can be seen from the foregoing that if Butcher & Sherrerd, as the University's investment adviser, should be considered responsible for the manner and timing of all sales for the University's account, and if the rules enunciated in Kidder Peabody are carried to their logical extreme, namely, that an investment adviser may make no sales for his account until he has completed all of the sales he has recommended to all of his advisory clients, some or all of the sales made by Butcher & Sherrerd during the week of May 18 for its own account and for the account of affiliates, as referred to above, may be held to violate those rules.

Yours very truly, JAB:bh DRINKER BIDDLE & REATH

(See also http://www.archives.upenn.edu/primdocs/trustees/70s/19711112a2.pdf or http://216.239.51.100/search?q=cache:Q8YbMl5Ju4sC:www.archives.upenn.edu/primdocs/trustees/70s/19711112a2.pdf+drinker+biddle+reath+jab&hl=en ). With regard to litigation, see http://www.law.upenn.edu/alumnijournal/Spring2000/department5/index2.html

(10) http://www.businessweek.com/1999/99_19/b3628003.htm

(11) http://www.brownia.com/pro_b_sherrerd.html

(12) (See Charles Ray, Bruce Page and Godfrey Hodgson, “Do You Sincerely Want to Be Rich? The Full Story of Bernard Cornfeld and I.O.S. ; New York: Viking Press, 1971). Robert Vesco would later be accused by the U.S. Government of looting a quarter billion dollars (426 million in 1986) from Bernard Cornfeld's Investors Overseas Services. (See Arthur Herzog, VESCO copyright©1987 -- excerpts at http://www.electronpress.com/default.asp?pl=http://www.electronpress.com/excerpts/vescoexc.htm) Vesco was backed by Henry Buhl, who introduced Vesco to investment bankers Lazard Frères; Salomon Brothers; Allen & Co.; John Loeb, Sr. of Loeb & Rhoades; Lehman Brothers; Smith Barney; and to his accountant Arthur Andersen. Buhl had been an heir to the Fisher Body company which made the chassis for GM cars. On the board of directors of Vesco’s first company sat Malcolm McAlpin, a brokerage company executive who was also on the board of ITT. One of Vesco’s original investors in International Controls Corporation (ICC) was the Baron Edmond de Rothschild, who introduced Vesco to Henry Buhl at IOS. In 1970 Buhl, who worked in Los Angeles, became aware that tens of millions of dollars were missing from IOS as a result of transfers of IOS accounts from Geneva to the Bahamian branch in transactions benefiting John McCandish King. He asked Vesco to help IOS by assisting Commonwealth United, a California company which owned Seeburg, the world’s largest manufacturer of juke boxes and vending machines. Another officer at IOS (Cowett) attempted to sell Commonwealth stock to Bludhorn of Gulf + Western Industries, who, according to Penny Lernoux (In Banks We Trust), was its founder, chairman and CEO. Pete Brewton says (The Mafia, the CIA and George Bush, p. 378) that one of the “original founders” of Gulf + Western was John Duncan of Houston, whose brother, Charles Duncan, was chairman of Rice University Board of Trustees for many years, as well as being in Jimmy Carter's Cabinet. Bludhorn was born in Vienna, Austria, in 1926 and arrived in the U.S. in 1942. In 1949 he started an import-export business in Manhattan. In 1956 he acquired a small auto-parts company in Grand Rapids, Michigan that became Gulf + Western two years later. So it appears that Bludhorn and Vesco were both products of the same area as Max Fisher, who later began investing in land around Houston, Texas developed by Robert Mosbacher, who worked for Socony Mobil, Amoco and Houston Natural Gas/Enron. When Bernie Cornfeld was forced to step down, the IOS board considered selling to John McCandish King or Baron de Rothschild. King tried to outbid Vesco for a takeover of IOS, but blamed the “Rockefeller interests” for his inability to obtain financing. Vesco’s financing of IOS came primarily from Bank of America. He even claimed he was fronting for BA, but the bank denied that allegation. According to Arthur Herzog, “another potential purchaser of IOS was Raymond Mason, president of Charter Corp., and Edward Ball, chairman of St. Joe, a paper company and trustee of the A.I. DuPont estate. Early in 1972, the Charter/DuPont deal collapsed. Ball is supposed to have told Vesco, ‘I had a dream. You and I slept together on a cold night. In the morning, you had all the blankets.’ “ Vesco also formed a holding company called Property Resources, Ltd. (PRL) which issued shares of stock in exchange for assets of other IOS subsidiaries—Investment Properties International and Global Natural Resources. The purpose intended for PRL was to acquire Resorts International’s Paradise Island casino, hotels and marina. Global Natural Resources was a pre-Vesco spin-off of Cornfeld’s IOS, and it owned the mineral interests in John McCandish King’s Arctic permits. King had met Cornfeld in Geneva, Switzerland in 1967; IOS’ Fund of Funds invested more than $100 million in King’s oil properties. They were greatly overvalued at that time, however, because there was no way of removing the oil and gas from that frozen region. [Source: Arthur Herzog, Vesco: From Wall Street to Castro's Cuba, Doubleday: New York, 1987]. This time frame fits in well with the timing of the Duke of Windsor's obsessive interest in exploring his Canadian land for oil and gas. In the 1940's and 1950's he had visited Clint Murchison at his isolated Mexican ranch to discuss the matter, and in 1951 Murchison's Canadian Delhi Co. began building Trans-Canada Pipe Lines to transport natural gas from Alberta. See http://www.transcanada.com/company/our_history/where_it_all_began.htm Murchison had helped Robert R. Young gain control of the New York Central Railroad in 1954, and his two sons would wage a long proxy fight to seize control of the Alleghany Corporation from Allan Kirby in 1961.

(13) In late 1964 Hitchcock met Sam Feranis Clapp, a Boston attorney and chairman of the Fiduciary Trust Company in the Bahamas, with whom he set up some offshore trusts. Another of Clapp’s customers was Bernie Cornfeld, who turned to Billy for brokerage services for the accounts of his new mutual fund, Investors Overseas Services at about the same time Billy began advising Swiss banker Fred Paravicini in how to make money in the U.S. stock market without paying taxes. In 1969 Cornfeld’s IOS acquired Clapp’s Fiduciary Trust, and Billy transferred his trust accounts into a Swiss subsidiary of Capital National Bank of Houston called ”Bank for Investment and Credit Berne” (BICB), in which Billy had been offered a 6% interest. The bank stock was owned by Capital National Bank and Paravicini Bank, but investors included Seagrams, Boeing, Minute Maid in Zurich, the London subsidiary of Brown and Root and the Schlesinger Organization of London and Johannesburg. Vice-chairman was L.F. McCollum, Sr.—a long-time Humble Oil (Exxon) employee, who headed Conoco and who had founded Capital National Bank of Houston in 1965. The bank’s president was Baker Lovett, cousin of James A. Baker III. In 1967 Hitchcock left his job at Lehman Brothers to become a partner in Delafield and Delafield, based on the institutional account he brought in from IOS. It was the Delafield bank which handled the stock for the conversion of Mary Carter Paint to Resorts International. In 1969 Hitchcock left Delafield. By then he was living in Sausalito, California and already enmeshed in operations to spread the use of LSD among the youth of California. To learn more about Billy Mellon Hitchcock's role in bringing LSD to America, see Chapter 2 of Acid Dreams, The Complete Social History of LSD: The CIA, the Sixties, and Beyond, New York: Grove Weidenfeld. ©1985 by Lee & Shlain at http://www.druglibrary.org/schaffer/lsd/dreams2.htm.

(14) Directors of Eagle Star Insurance have included Sir Kenneth Strong, a Scotsman and son of the Rector of Montrose Academy, who was a Major General during World War II. Assigned to General Eisenhower in 1943, Strong became a firm friend of both Eisenhower and Walter Bedell-Smith, Eisenhower's chief of staff and later the Director of Central Intelligence. Strong was appointed Director-General of Political Intelligence at the Foreign Office and then became Director of the Joint Intelligence Bureau. In 1964 he became Director-General of Intelligence, Ministry of Defence, retired in 1966, and died in 1982. http://www.electricscotland.com/history/world/secret_service.htm

(15) The major shareholders of the New York Central acted as a front for DuPont and others. On May 20, 1971, Ross Perot, encouraged by the Nixon administration, bought a subsidiary of Dupont Glore Forgan, Inc.--Wall Street Leasing--and invested $10 million in the firm; in 1984 Perot sold his computer company to duPont-owned General Motors . Allegations of fraud were later brought against Perot in his creation of a joint venture with another DuPont brokerage company. http://www.paed.uscourts.gov/documents/opinions/01D0291P.HTM

(16) http://www.buyandhold.com/bh/en/education/history/2002/van_bros.html

Historian Robert Sobel writes that at cocktail parties, investment bankers would try to explain how Nickel Plate Securities Co. worked, but “usually with little success.” Though the facts seemed to be public, so

it HAD to be explainable. Well, here's a description, as told by Sobel:

“At the top of the Van Sweringen pyramid were the General Securities Corporation and the Vaness Co. The brothers owned 40 percent of G.S.C. and 80 percent of Vaness. Since Vaness owned an additional 50 percent of General Securities, control of both was assured.

“General Securities controlled Alleghany Corporation, which controlled Chesapeake Corporation, which controlled the Chesapeake & Ohio Railroad. The C. & O. in turn held stock in other lines, together with Vaness, General Securities, Alleghany, and the Chesapeake Corporation. The Wheeling & Lake Erie, the Kansas City Southern, the Chicago & Eastern Illinois, the Missouri Pacific, and the Denver & Rio Grande were also in the Van Sweringen web.”

[From Maury Klein, “Rainbow's End.”]

“On January 29 the Van Sweringens sold to (J.P.) Morgan $35 million in 5 percent bonds for $32.75 million, $25 million in preferred stock, and 1.25 million of the 3.5 million common shares for $20 a share, or $25 million. In addition, Morgan paid $375,000 to obtain warrants for another 375,000 shares of common at $30 per share. The Vans also took warrants for 375,000 shares at the same price and bought 2.25 million shares of common at $20 a share. For this stock they paid not cash but 100,000 shares of Nickel Plate common and 440,286 shares of Chesapeake Corporation common. Then they sold to their own General Securities Corporation the 2.25 million shares of Alleghany and 1.725 million option warrants at $1 per warrant. Since all the directors of Alleghany were Van Sweringen associates, the deal amounted to trading with themselves.” Or, as an official said at the time, “The control of the parent's directors over the subsidiaries' machinery is absolute; even the information disclosed may be so blind as to be unintelligible.”

(17) Can you tell me who made up America First? It began actually in New Haven. There was a kind of Chicago-Yale axis. And Chicago became its greatest source of strength. http://www.pbs.org/wgbh/amex/lindbergh/filmmore/reference/interview/schlesinger06.html Article by Gore Vidal:

“There is now a myth that the isolationists were pro-Hitler and anti-Semitic. This is nonsense. Practically every socialist in the country, starting with Norman Thomas, was an isolationist, while agrarian populists, like Senators Wheeler and Nye, tended to be wary of foreign wars and entanglements. Also, the only foreign power that we were hostile to--and feared--was Hitler's enemy, the Soviet Union, the exporter of godless and atheistic communism. America Firsters ranged from the historian Charles Beard to the young Kingman Brewster, not to mention a brilliant young football coach at Yale, Gerald R. Ford. The pro-German anti-Semites were at home in the German-American Bund, not in the America First Committee. Hitler's infamous final solution was not known as of 1940 and did not figure into the debate. As it turned out, no American majority ever favored American intervention in the European war. Had the Japanese not been inspired--or, perhaps, incited--to attack us, we might never have gone to war at all.”

http://www.dce.harvard.edu/pubs/lowell/gvidal.html

(18) (Merger history at http://www.meyersdale.org/borailhistory.html). The Seaboard had been controlled by the uncle of the Duchess of Windsor for many years (genealogy http://www.rootsweb.com/~mdannear/firstfam/warfield/d417.htm#P423 and http://www.rootsweb.com/~mdannear/firstfam/warfield/d420.htm#P420).

(19) Groves sold 3,000 acres of his Bahamas real estate to a group of Florida investors in 1961, who in turn sold the land to the Mary Carter Paint Co. Mary Carter was a partner with Wallace Groves in the operation of the Bahamian Club casino until 1967, when it opened its Paradise Island casino, under the direction of casino manager Edward Cellini, whom the company inherited from its partnership with Groves. Cellini, it turned out, was the brother of a known associate of Meyer Lansky, the infamous mob kingpin. The transition from paint to gambling was a Lansky-inspired enterprise. It was accomplished through the activities of a General Development Corporation, run by two more Lansky fronts, Wallace Groves and Lou Chesler. The board of directors of the General Development Corporation included Lansky's stockbroker, Max Orovitz, and gangster “Trigger Mike” Coppola. General Development bought up half of Grand Bahama Island for later syndicate development and contracts with Nixon's law client, National Bulk Carriers, to build a harbor there. http://www.shorecast.com/html/Features/Legends/legendresorts.html and http://www.policestudies.eku.edu/POTTER/Module8.htm http://www.policestudies.eku.edu/POTTER/Module8.htm

(20) http://heritage.dupont.com/touchpoints/tp_1918/depth.shtml and http://www.tsha.utexas.edu/handbook/online/articles/view/YY/fyo12.html

(21) [Source: William L. Leary, Perilous Missions: Civil Air Transport and CIA Covert Operations in Asia (Univ. of Ala. Press, 1984), cited in Alan A. Block, Masters of Paradis: Organized Crime and the Internal Revenue Service in The Bahamas (New Brunswick, N.J.: Transaction Publishers, 1991). See also http://www.geographia.com/grandbahama/gbhistory04.htm]

(22) Pan Am had been created by Juan Trippe, a Yale graduate who had raised money from other Yale friends and merged three groups into the airline with flights from Key West, Florida to Cuba in 1927. He had also been involved with Colonial Air Transport which had an airmail contract between New York and Boston, and was also involved with the Flying Clippers with the first routes across the Pacific and Atlantic by the late 1930s. Trippe was a close friend of Charles Lindbergh, whose wife was the daughter of Dwight Whitney Morrow, a partner in the Morgan bank, who also was Ambassador to Mexico soon after U.S. holdings had been expropriated by President Calles. http://www.library.miami.edu/archives/panam/trippe.html and http://www.library.miami.edu/archives/panam/pan.html and http://www.nytimes.com/books/first/h/hertog-lindberg.html and http://obits.com/lindberghannemorrow.html



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