Wall Street and the Rise of Hitler by Antony C. Sutton Page A
Authors: Antony C. Sutton
Tags: United States, General, History, World War II, Military, 20th Century, Europe, Business & Economics, Economic History
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continued
until 1944, the year before the end of World War II.19
Footnotes:
1In 1935, John D. Rockefeller, Jr. owned stock valued at $245 million in Stan http://reformed-theology.org/html/books/wall_street/chapter_04.htm (7 of 8) [8/4/2001 9:44:14 PM]
CHAPTER FOUR: Standard Oil Fuels World War II
dard Oil of New Jersey, Standard Oil of California, and Socony-Vacuun Company, New York Times, January 10, 1935.
2 Elimination of German Resources, op cit., p. 1085.
3Ibid.
4 NMT, I.G. Farben case, p. 1304.
5 New York Times, April 28, 1929.
6Ibid.
7Ibid, November 24, 1929.
8 NMT, I.G. Farben case, Volumes VII and VIII, pp. 1304-1311, 9See letter from U.S. War Department reproduced as Appendix D.
10United States Congress. Senate. Hearings before a subcommittee of the Committee on Military Affairs. Scientific and Technical Mobilization, (78th Congress, 1st session, S. 702), Part 16, (Washington: Government Printing Office, 1944), p. 939. Hereafter cited as Scientific and Technical Mobilization.
11Ibid.
12 Oil and Petroleum Yearbook, 1938, p. 89.
13 New York Times, October 19, 1945, p. 9.
14George W. Stocking & Myron W. Watkins, Cartels in Action, (New York: The Twentieth Century Fund, 1946), p. 9.
15For original documents see NMT, I.G. Farben case, Volume VIII, pp.
1189-94.
16 NMT, I.G. Farben case, Volume VIII, p. 1264-5.
17 Scientific and Technical Mobilization, p. 543.
18Robert Engler, The Politics of Oil, (New York: The MacMillan Company, 1961), p. 102.
19See Chapter Nine for details.
BACK
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CHAPTER FIVE: I.T.T. Works Both Sides of the War
CHAPTER FIVE
I.T.T. Works Both Sides of the War
Thus while I.T.T. Focke-Wolfe planes were bombing Allied ships, and I. T. T.
lines were passing information to German submarines, I.T.T. direction .finders were saving other ships from torpedoes. (Anthony Sampson, The Sovereign State of I.T.T., New York: Stein & Day, 1973, p. 40.)
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 the epitome 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 Telefonica de Espana. In 1924 I.T.T., now backed by the J.P. Morgan firm, bought what later became the 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:
Affiliation with other
Directors
Wall Street firms:
Arthur M. ANDERSON
Partner, J.P. MORGAN and
New York Trust Company
Hernand BEHN
Bank of America
Sosthenes BEHN
NATIONAL CITY BANK
F. Wilder BELLAMY
Partner in Dominick &
Dominicik
John W. CUTLER
GRACE NATIONAL BANK,
Lee Higginson
George H. GARDINER
Partner in Davis, Polk,
Wardwell, Gardiner & Reed
Allen G. HOYT
NATIONAL CITY BANK
Russell C. LEFFINGWELL
Partner J.P. MORGAN and
CARNEGIE CORP.
Bradley W. PALMER
Chairman, Executive
Committee, UNITED FRUIT
Lansing P. REED
Partner in Davis, Polk,
Wardwell, Gardiner & Reed
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CHAPTER FIVE: I.T.T. Works Both Sides of the War
The National City Bank (NCB) in the Morgan group was represented by two directors, Sosthenes Behn and Allen G. Hoyt. In brief, I.T.T. was a Morgan-controlled company; and we have previously noted the interest of Morgan-controlled companies in war and revolution abroad and political maneuvering in the United
until 1944, the year before the end of World War II.19
Footnotes:
1In 1935, John D. Rockefeller, Jr. owned stock valued at $245 million in Stan http://reformed-theology.org/html/books/wall_street/chapter_04.htm (7 of 8) [8/4/2001 9:44:14 PM]
CHAPTER FOUR: Standard Oil Fuels World War II
dard Oil of New Jersey, Standard Oil of California, and Socony-Vacuun Company, New York Times, January 10, 1935.
2 Elimination of German Resources, op cit., p. 1085.
3Ibid.
4 NMT, I.G. Farben case, p. 1304.
5 New York Times, April 28, 1929.
6Ibid.
7Ibid, November 24, 1929.
8 NMT, I.G. Farben case, Volumes VII and VIII, pp. 1304-1311, 9See letter from U.S. War Department reproduced as Appendix D.
10United States Congress. Senate. Hearings before a subcommittee of the Committee on Military Affairs. Scientific and Technical Mobilization, (78th Congress, 1st session, S. 702), Part 16, (Washington: Government Printing Office, 1944), p. 939. Hereafter cited as Scientific and Technical Mobilization.
11Ibid.
12 Oil and Petroleum Yearbook, 1938, p. 89.
13 New York Times, October 19, 1945, p. 9.
14George W. Stocking & Myron W. Watkins, Cartels in Action, (New York: The Twentieth Century Fund, 1946), p. 9.
15For original documents see NMT, I.G. Farben case, Volume VIII, pp.
1189-94.
16 NMT, I.G. Farben case, Volume VIII, p. 1264-5.
17 Scientific and Technical Mobilization, p. 543.
18Robert Engler, The Politics of Oil, (New York: The MacMillan Company, 1961), p. 102.
19See Chapter Nine for details.
BACK
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CHAPTER FIVE: I.T.T. Works Both Sides of the War
CHAPTER FIVE
I.T.T. Works Both Sides of the War
Thus while I.T.T. Focke-Wolfe planes were bombing Allied ships, and I. T. T.
lines were passing information to German submarines, I.T.T. direction .finders were saving other ships from torpedoes. (Anthony Sampson, The Sovereign State of I.T.T., New York: Stein & Day, 1973, p. 40.)
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 the epitome 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 Telefonica de Espana. In 1924 I.T.T., now backed by the J.P. Morgan firm, bought what later became the 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:
Affiliation with other
Directors
Wall Street firms:
Arthur M. ANDERSON
Partner, J.P. MORGAN and
New York Trust Company
Hernand BEHN
Bank of America
Sosthenes BEHN
NATIONAL CITY BANK
F. Wilder BELLAMY
Partner in Dominick &
Dominicik
John W. CUTLER
GRACE NATIONAL BANK,
Lee Higginson
George H. GARDINER
Partner in Davis, Polk,
Wardwell, Gardiner & Reed
Allen G. HOYT
NATIONAL CITY BANK
Russell C. LEFFINGWELL
Partner J.P. MORGAN and
CARNEGIE CORP.
Bradley W. PALMER
Chairman, Executive
Committee, UNITED FRUIT
Lansing P. REED
Partner in Davis, Polk,
Wardwell, Gardiner & Reed
http://reformed-theology.org/html/books/wall_street/chapter_05.htm (1 of 9) [8/4/2001 9:44:14 PM]
CHAPTER FIVE: I.T.T. Works Both Sides of the War
The National City Bank (NCB) in the Morgan group was represented by two directors, Sosthenes Behn and Allen G. Hoyt. In brief, I.T.T. was a Morgan-controlled company; and we have previously noted the interest of Morgan-controlled companies in war and revolution abroad and political maneuvering in the United
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