| Union Banking Corporation |
Article Index for Union |
Website Links For Union |
Information AboutUnion Banking Corporation |
| CATEGORIES ABOUT UNION BANKING CORPORATION | |
| defunct banks of the states | |
|
FOUNDING The UBC was founded in August 1924 , with offices at 39 Broadway in New York City . The founding officers of the bank included Cornelis Lievense as President along with the following:"New International Bank", ''New York Times'', Sep 10, 1924, p. 33
TRADING WITH THE ENEMY As early as March 1940, Cornelis Lievense had been implicated in trading with the enemy. Lievense, in addition to being President of the Union Banking Corporation, was an officer in several other companies, including:
In March of 1940, a '' New York Times '' article revealed that the Domestic Fuel Corporation had earned the dubious distinction of becoming the first American company to appear on the Canadian blacklist of suspected enemy persons and corporations."Canada Blacklists Two U.S. Concerns", ''New York Times'', Mar 28, 1940, p. 44 On July 31, 1941, a '' New York Herald Tribune '' article revealed that the UBC had been created and funded by the Bank voor Handel en Scheepvaart, a Dutch bank formed and controlled by German steel magnate and one-time Nazi supporter Fritz Thyssen . The UBC was formed by Thyssen with the assistance of W. A. Harriman ; the executive board consisted of trusted partners of Harriman and Thyssen. At the time the article was written, several members of Brown Brothers Harriman served on the board of the UBC, including Prescott Bush . As a Dutch-owned company, the U.S. assets of the UBC were frozen by the United States Government on May 10, 1940 when Germany Invaded The Netherlands . However, at the advice of William R. White , New York Superintendent of Banks, the Harriman directors of UBC were to remain in control of the UBC until the entire corporation was formally seized by the government in 1942.Racusin, M.J. "Thyssen Has $3,000,000 Cash in New York Vaults", ''New York Herald Tribue'', Evening Edition, July 31, 1941. On October 20, 1942, pursuant to the Trading With The Enemy Act , the United States seized all of the shares of the Union Banking Corporation. |
|
|