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Pastimes : Clown-Free Zone... sorry, no clowns allowed -- Ignore unavailable to you. Want to Upgrade?

To: JRI who wrote (114510)	7/26/2001 11:05:12 AM
From: John Madarasz	Read Replies (2) \| Respond to of 436258

Charles Schwab died bankrupt from speculating in the market in 1929 schwab made his money in steel, and lost it all in the market. Now his heirs make all their coin in steal too<gg>... That's something you never seem to hear about though. It was Schwab's gambling that caught up with him. His stock speculations in 1929 wiped him out. Over the protests of stockholders who wanted him ousted, Grace gave Schwab a $250,000-a-year job. In 1936 he tried to sell Riverside to the City of New York, but city officials were uninterested. Four large apartment houses occupy the site today. Crushed in spirit and bankrupt, Schwab died Sept. 19, 1939. In less than a year, World War II, which began a few weeks before his death, would make Schwab's holdings once more worth millions. Although Schwab is long gone and little remembered, the mark he left on the Lehigh Valley remains a testament to his influence at the start of the 20th century. steelprofiles.com