Today's Equipment Leasing Headlines
Myerson Opens Pacific Island Financial in Lihue, Kauai
Broker/Funder/Industry Lists | Features (writer's columns)
You May have Missed---
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and was not written by Leasing News nor information verified, but from the source noted. When an article is signed by the writer, it is considered a “by line.” It reflects the opinion and research of the writer.
Myerson Opens Pacific Island Financial in Lihue, Kauai
Don Myerson, President of BSB Leasing, Englewood, Colorado, Chief Credit Officer, Mintaka Financial, Advisory Board Member, Orion First Financial and Leasing News Inc., has opened Pacific Island Financial in Lihue, Kauai. He and his family live six months in Colorado and six months in Poipu. The company will provide equipment financing, unsecured working capital loans and retail merchant cash advances for Hawaii businesses.
Don Myerson, Leasing News Advisor
Social Media Guidelines—Imperative
If your company, large or small, does not have social media guidelines in place, your organization is permitting unnecessary risks.
While it is important to encourage participation in social media to open two way channels of communication and engage your target audience, most people need guidance in doing so properly.
Our agency has written many of these policies and can help you with yours. Just send me a note at firstname.lastname@example.org.
ICBA Announces Top Community Bank Leaders in Social Media
The Independent Community Bankers of America® (ICBA) today released the Top 50 Community Bank Leaders in Social Media and the Top 25 Community Banker Influencers on Twitter. This is the second year that ICBA has compiled these two lists, which highlight the community bank social media trailblazers among the financial industry.
(These ads are “free” to those seeking employment or looking
Free Posting for those seeking employment in Leasing:
All “free” categories “job wanted” ads:
Sondra Rowland was hired as Chief Credit Officer, EverBank Commercial Finance, Greater New York Area. She had joined Emigrant Business Credit Corp., September, 1997, and was promoted to President, January, 2009. She started as a Marking Support Specialist for The CIT Group-Commercial Equipment Finance, 1995, and was promoted to Marketing Specialist. Education: Fordham University - Graduate School of Business Administration,
Leasing Industry Help Wanted
For information on placing a help wanted ad, please click here:
Please see our Job Wanted section for possible new employees.
Corridor Capital to Manage Amtrak Hoosier State Route
Corridor Capital LLC Chairman James E. Coston, CLP, perhaps better known to the leasing industry as Jim Coston, attorney at Coston & Coston, Chicago, Illinois, had his railroad company chosen by the Indiana Department of Transportation as its preferred vendor to manage and operate the current Amtrak Hoosier State route between Indianapolis and Chicago.
He notes his company is working with other states regarding their corridor services.
He continues active in the banking, finance, and leasing legal industry. In 2004, he became the first attorney to serve as President of the United Association of Equipment Leasing (UAEL). From 2000 to 2003, he served as a presidential appointee on the Amtrak Reform Council.
He is also one of the first attorneys to become a Certified Leasing Professional.
Why I Became a CLP
Aggregate auto loans at U.S. banks and thrifts edged up in the first quarter while delinquencies fell below year-ago levels. Auto loan balances at commercial and savings banks, not including holding companies, increased by $6.21 billion over year-end 2013 and $33.38 billion over the first quarter of 2013, reaching $358.27 billion at March 31. Aggregate auto loans 30-plus days past due or in nonaccrual status dropped to 1.52% at March 31, down from 1.98% at year-end 2013 and 1.55% in the year-ago quarter.
Auto loans and delinquencies at US commercial banks and savings banks. According to SNL data, the average interest rate charged on auto loans has been steadily falling over the last two years. The average rate on a five-year new car loan was 3.98% in mid-June, down 18 basis points year over year. Meanwhile, the average rate on a three-year used car loan was 4.19%, down 19 basis points over the same time frame.
Wells Fargo added $1.80 billion to its auto loan tally quarter over quarter and $5.35 billion year over year, while Ally's auto loans were up only $208.0 million quarter over quarter and down $8.49 billion year over year.
During Wells Fargo's investor day in May, Thomas Wolfe, executive vice president of consumer credit solutions, noted that auto originations jumped 16% quarter over quarter. Wolfe also remarked that 95% of the company's auto loans come from car dealers and that for every new car subvented business Wells Fargo does with the new GM dealer relationships, the bank books three used car loans at the same dealership.
Santander Holdings USA Inc. entered the ranks with the sixth-highest level of auto loans — $21.07 billion at March 31 — after the company began reporting the auto loans held at its consolidated subsidiary, Santander Consumer USA Holdings Inc.
Santander Holdings USA was another beneficiary of an auto company's expired contract with Ally Financial, this time Chrysler Group LLC and FIAT. In February 2013, Chrysler announced a 10-year agreement with Santander Consumer USA Inc. whereby Santander would provide auto loans to Chrysler and FIAT customers and dealers under the name Chrysler Capital.
According to a May 21 investor presentation by Santander Consumer USA Holdings, the company originated $6.95 billion in consumer loans and leases in the first quarter, of which $3.5 billion were Chrysler retail loans and more than $1.2 billion were Chrysler leases. Overall loan originations were $2.77 billion in the same quarter of 2013.
Santander Holdings USA's auto loans 30-plus days past due or in nonaccrual status were equal to 8.33% of total auto loans at March 31, the highest percentage among the top 25 depository institution auto lenders in SNL's ranking. Capital One Financial Corp. posted the second-highest delinquency rate at 5.63% at March 31, but that was down from 7.46% at year-end 2013 and 5.93% in the year-ago quarter.
Yozons First with “Digital Certificate-less” Electronic Signing
David A.E. Wall, CEO at Yozons, Inc., said his company in 2000 invented "digital certificate-less" (patented) web-based electronic signing technology, originally offering the service for 75 cents a signature. (1)
There was a challenge with the USPTO regarding Yozons "core patent" for all of its products, which the company finally had re-affirmed.
CEO David Wall describes it as, "Yozons, being a small company, is only now able to begin asserting its rights against those web based e-signature vendors that make use of our invention that allows a server to perform e-signatures on behalf of its users without requiring a public key infrastructure (PKI) and users verifying each other directly.
“Well-funded competitors came to market years after Yozons practiced our invention, but also years before our patent was finally awarded in 2008 with a filing date back to January 2001. These competitors basically made our reasonable 75 cents a signature an impossible
“The Yozons invention changed all that for the better, allowing web-based e-signatures to work as well on desktop computers as on tablets and smart phones and enabling the U.S. market to grow rapidly ever since.”
Ex Parte Re-exanimation Certificate
(Leasing News provides this ad as a trade for investigations
The word collateral means the assets signed over to a lender to support the extension of credit. Generally, it requires a listing of all the assets being pledged, and requires the filing of a lien, in accordance with the Uniform Commercial Code and similar laws, with a full description of the assets, including serial numbers, if applicable. If the lender is first filed chronologically, it gives the lender the right to recover the assets to satisfy the balance of the credit extended. If the business fails, the order of the dates of the liens are generally the determinant as to who gets paid first, but often can be decided by the trustee, or a credit committee appointed by the trustee.
The first important difference from a lease is that the lender, by use of the lien, gets the borrower to surrender his “interest” or “equity” in the collateral, not its ownership. When the loan is paid off, the lien is released, and the asset(s) are free and clear. In a default or a bankruptcy, the court will investigate the liens to determine which lien holder is first filed, and who has the right to repossess the pledged assets to try and offset the loan balance.
A security agreement lays out the language for the lien position, and creates the remedies, for the lender. None of this language is found in a lease agreement. Even an Equipment Finance Agreement assumes the lessor is the owner because title is retained until the lease contract is paid in full, and then title is passed.
However, some lessors feel the need to have additional support to approve a lease. Usually, we use advance rents, security deposits, or even vendor recourse as an "abundance of caution." Additional collateral can also be acquired. A security agreement attached as a rider to the lease agreement is made, along with a separate UCC or DMV filing.
Get a strong note and security agreement. First make sure you will be in first lien position on the assets pledged as collateral. I recommend a lien search to make sure you have first position, otherwise another creditor may be in front of you. It is not uncommon for banks to make “blanket lien” for lines of credit. You may be required to obtain an exemption from the bank to be in first position. Most often an appropriate payment is required to obtain some form of waiver or release. Each state may have different interpretations of this, so your wording should take this into account.
One of the difficulties of using a note a security agreement is that you will need a lenders license to offer loans. I recommend all licenses from advance or deposit licenses or finance lender’s license in the state of the lessee be obtained, as well as in the state where you are located and have venue.
If you need additional support to approve the lease transaction and cannot get a security deposit, or advanced lease payments, at least make sure it is a legal true lease that meets Article 2A requirements. If a default occurs, at least you will have the benefit of the advantages of a legal lease and be treated as the owner of the equipment instead of a lien holder.
The most common mistake that I see is your attorney should be well-versed and experienced in finance and leasing; an expert, not a “generalist.” I can't emphasize this enough!
Mr. Terry Winders, CLP, has been a teacher, consultant, expert witness for the leasing industry for thirty years and can be reached at email@example.com or 502-649-0448.
He invites your questions and queries.
Previous #102 Columns:
(Here is a recent article by Tom McCurnin on how a blanket lien
Secured Creditor’s Use of Blanket Security Interest in Loan Agreement Pays Off in a Chapter 13 Claim Dispute
(This ad is a “trade” for the writing of this column. Opinions
Michigan Court Upholds Subordination to
Blackstone Equipment Finance
Equipment Lessor Succeeds in Overcoming Convoluted Assignment and Subordination Agreements in Inter-Creditor Dispute
Monroe Bank & Trust v. Chie Contractors, Inc. 2013 WL 1629300 (Mich. App., 2013).
Hard money, asset based equipment leasing is a tough business, and a lessor has to hire detail oriented people to underwrite credit. Often, the job of tracking down who has title to certain equipment is as difficult as writing a title letter in a real estate closing. In today’s case, the equipment lessor must have hired top notch people because notwithstanding a withering assault by the customer’s bank, the lessor prevailed as to its financed equipment. The facts follow.
Chie Contractors was a Michigan contractor, which at one time borrowed most of its funds from Monroe Bank. In 2007, the Bank signed a subordination agreement to 19 pieces of construction equipment, in favor of Commercial Credit Group. In 2008, Commercial assigned its interest in the 19 pieces to Blackstone Equipment Financing. Blackstone, in turn, leased the equipment to Chie Contractors under a true lease. Blackstone perfected its lien by filing a UCC-1 Financing Statement.
When the Debtor defaulted, Monroe Bank claimed that its subordination agreement and the Assignment to Blackstone were without consideration and void, a ridiculous argument to make. But the trial court bought the argument.
Monroe Bank was not without its problems, either. In 2005, when it released some of its collateral, the Bank checked the box marked “Termination” but also checked the box “Assignment,” certainly equivocal. But Blackstone pounced on that mistake, claiming that the Bank actually, and in fact, terminated its entire security interest in all the collateral. This argument was a little farfetched, and the trial court ruled in favor of the Bank.
On appeal to the Michigan Court of Appeals, the Court was puzzled why an otherwise enforceable subordination agreement could not be enforced by the Court as to those 19 pieces. The Bank’s failure of consideration argument went down in flames.
I’ve simplified the facts in this case, but the bottom line is that the lessor Blackstone did a terrific job in ferreting out the correct lienholder for the construction equipment, obtaining assignments and filing a correct UCC-1 to perfect its security interest. It was rewarded with possession of the disputed equipment.
The lessons for the equipment lessor are obvious. If your company is doing yellow iron refinance leases, then your company needs a really good UCC search company and detail oriented people to interpret and track each piece of equipment from cradle to grave. Sometimes in really convoluted deals, counsel familiar with UCC title searches can assist the lessor in this process. I always advocate using a title company, UCC division, for UCC title searches, as such companies provide actual insurance for the deal in case the lessor and the title insurer make a mistake.
Monroe Bank Case
Tom McCurnin is a partner at Barton, Klugman & Oetting
Tiny 96 Year Old Bank in Oklahoma Closed Down
The Freedom State Bank, Freedom, Oklahoma, was closed with Alva State Bank & Trust Company, Alva, Oklahoma, to assume all of the deposits. Founded January 1, 1919, the bank had five full time employees as of March 31, 2014 at its office in Freedom. Year-end 2006, the bank had seven full time employees.
Freedom is a town in Woods County, Oklahoma, United States. As of the 2010 census, the city population was 289. Freedom State was the only bank in the surrounding area. Cargill operates a salt evaporation facility, appearing to be the largest employer, although oil and gas employment is also high.
Compared to other banks in Oklahoma, The Freedom State Bank has a significantly higher percent of Farm Loans on its balance sheet, potentially indicating a specialty in that lending area.
While employment has been good, primarily from oil and gas drilling, as well as Cargill Salt, the most telling may be the population chart from Wikipedia showing the declining population of Woods County, where Freedom is located.
(In Millions unless otherwise noted)
While the bank equity improved each year, the bank was profitable, and charge offs loan look in order, it appears the non-current loans were in the 90 day column; and the liquidity to pay off the debt was a major factor ("too many troubled assets," was the term used by the regulators.)
2006 -$29,000 (-$29,000 commercial & industrial loans)
Construction and Land, 1-4 family multiple residential, Multiple Family Residential, Non-Farm Non-Residential loans.
The Oklahoman reported: “Banking regulators ruled that Freedom State Bank was ‘critically undercapitalized” and had determined that its capital position was ‘rapidly deteriorating,’ according to an FDIC directive released Friday.
“FDIC had ordered Freedom State Bank’s directors in May to either make a direct cash contribution to the bank or sell stock in the bank to shore up its capital position”
It should be noted the FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $5.8 million. This is also after Alva State Bank & Trust Company will pay the FDIC a premium of 1.0 percent to assume all of the deposits of The Freedom State Bank. In addition to assuming all of the deposits of the failed bank, Alva State Bank & Trust Company agreed to purchase approximately $17.7 million of the failed bank's assets. The FDIC will retain the remaining assets for later disposition.
As of March 31, 2014, The Freedom State Bank had approximately $22.8 million in total assets and $20.9 million in total deposits.
FDIC stated in their press release, “Compared to other alternatives, Alva State Bank & Trust Company's acquisition was the least costly resolution for the FDIC's DIF.” *
List of Bank Failures:
“How to Handle ‘Behavioral’ Questions”
Question: I am going to be interviewing soon, and I know I will be asked behavioral type questions. Can you give me some samples
Answer: There are a number of questions the interviewer might use in order to find out if you: (1) will fit in with the staff (2) are a team player (3) is a good person and (4) are manageable.
The Interviewer may have you Explain an Action or Define a Word, for Example:
How interested are you in sports?
Career Crossroads Previous Columns
Top Stories June 23--June 27
Here are the top stories opened the most by readers:
(1) Dean Rubin Starts Ultimate Financing, Inc.
(2) May 8 - Leasing News: Direct Capital Sold to CIT
(3) Leasing 102 by Mr. Terry Winders, CLP
(4) In Memory of Crosby—Who Passed Away
(5) Business Loan and Lease Broker Pleads Guilty
(6) 40 companies missed May TARP dividend payment
(7) New Hires—Promotions in the Leasing Industry
(8) ELFA: May New Business Falls 14%
(Tie) (9) Chart---Mobile Is Taking Over Digital Media Usage
(Tie) (9) Sales Make it Happen by Mr. Terry Winders, CLP
(10) Leasing Proposals
Extra(s): Not Counted for Technical Reasons:
May 8 - Leasing News: Direct Capital Sold to CIT
##### Press Release ############################
Senior Bank Executive Pleads Guilty
Michael W. Yancey, 55, of Olathe, Kansas, was a former senior vice president and commercial loan officer at TARP recipient Farmers Bank & Trust (Farmers Bank) of Great Bend, Kansas.
According to court documents, in March 2007, Yancey helped a bank customer obtain an $825,000 commercial loan for the purchase of real estate in Basehor, Kan. (the Basehor property). In March 2007, the bank customer submitted to Yancey a falsified contract of sale stating that the purchase price for the Basehor property was $1.1 million. The actual purchase price of the Basehor property was $850,000. Yancey, knowing that the purchase price was falsified, accepted the contract of sale as part of the Farmers Bank loan file. Yancey and the bank customer stated that the purchase price was $1.1 million in order to make it appear that the Basehor loan conformed to a maximum 75 percent loan-to-value ratio so that the loan could be approved by the bank’s loan committee. However, the $825,000 loan, in truth, accounted for approximately 97 percent of the purchase price. In late-March 2007, the bank loan committee approved the Basehor loan at Yancey’s request.
Additionally, according to court documents, Yancey created an “Application for Approval of Large Credit Facilities” for the Farmers Bank loan committee that falsely stated that the Basehor real estate transaction involved a seller carryback in the amount of $150,000 and a borrower equity injection in the amount of $125,000. In subsequent years, Yancey recommended renewing the Basehor loan – even after the bank had received and held federal TARP funds – and consolidated it with other loans without correcting the false statements contained in the Farmers Bank loan file.
In June 2009, Farmers Enterprises, Inc., of Great Bend, Kan., the parent company of Farmers Bank, received $12 million in federal taxpayer funds through the U.S. Department of the Treasury Troubled Asset Relief Program (TARP). In November 2012, Treasury sold its TARP investment in Farmers Enterprises back to the bank for approximately $11.5 million, and the bank exited TARP. The bank’s repurchase of the shares at a discount resulted in a principal loss on the TARP investment of approximately $500,000.
This case is being investigated by SIGTARP, the Federal Bureau of Investigation, and the U.S. Department of Labor Office of Inspector General and Employee Benefits Security Administration. The case is being prosecuted by Assistant U.S. Attorney Jabari Wamble of the District of Kansas.
### Press Release ############################
((Please click on ad to learn more))
Rescue Group: Hands of Hope Rescue
Fall 2014 Leasing Conferences Updates
Hyatt Regency San Antonio Riverwalk
September 19 - 20, 2014
Qualified leasing professionals from outside of China will not be charged any registration fees. They are, however, expected to pay for all their travel expenses including accommodations and meals at the venue.
From the Chinese side, the speakers will include prominent leasing company executives and supportive governmental representatives; from the international side, the speakers will be drawn from senior executives from leading leasing companies and others who have played a vital role in leasing's international growth.
Confirmed speakers include:
October 9 -10
Booking of rooms at the Grand Marina is to be done by filling in a Hotel Reservation Form, which can be downloaded from the Annual Convention website at:
Last year's event was a resounding success with more than 500 participants from across Europe as well from Australia, Canada, China, Morocco, South Korea and the USA.
Early Bird Registration Now Open
It will bring together critical decision makers concerning credit and collections
November 6 - 8
The 2014 Middle East Leasing Summit to be held November 11-13 at the JW Marriott Marquis Hotel Dubai is reported to be strongly supported by leading leasing companies and international leasing association.
This summit will gather regional government officials, vendor representatives, national organizations and industry leaders to interpret the air finance from the aspect of market situation, regulatory, growth point and second hand aircraft to better understand Middle East air finance market.
The conference promises "Deep insight into Middle East leasing market climate with introduction of Islamic Finance’s application and banks’ involvement. There is no doubt that this summit will provide a premier platform for its delegates to establish strategic cooperative partnerships, expand business. We firmly believe that your outstanding industrial background and broad knowledge would contribute significantly to the quality and scope of this
For more information, please visit the official website at
November 12 - 14
November 18 - 21, 2014
"Three prominent and qualified speakers have been added to the agenda.
For More Information:
CFA Related Conferences
CFA Network Calendar
ELFA ---2014 Schedule of Conferences, Workshops
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This Day in History
1730 - The most populous area of colonial America was New England, with 275,000 Europeans. By 1760, this number rose to 425,000, and at the close of the revolution, to 800,000.
1733 - Forty Jews, admitted to Georgia colony by its proprietors, settled in Savannah.
1776 – The Continental Congress, sitting as a committee, met on July 1,
1776, to debate a resolution submitted by Virginia delegate Richard Henry Lee on June 7. The resolution stated that the United Colonies “are, and of right ought to be, free and independent States.” The committee voted for the motion and, on July 2 in formal session took the final vote for independence.
1778 - The first foreign diplomat accredited to the U.S., Conrad Alexandre Gerard, arrived in America. He had been appointed by King Louis XVI of France. The tide of the Revolutionary War changed when France not only lent the new colonies money, but officers, soldiers, arms, and ships. At Yorktown, the victory that won the war, Frenchman outnumbered Americans almost three to one! Washington had 11,000 men engaged in the battle, while the French had at least 29,000 soldiers and sailors. The 37 French ships-of-the-line played a crucial role in trapping the 8,700 strong British army and winning the engagement.
1792—A tremendous storm (a tornado or hurricane) hit Philadelphia and New York City. Many young people were drowned while out boating on that Sunday.
1800 - The earliest recorded Methodist camp meeting in America was held in Logan County Kentucky, near the Gaspar River Church.
1807 - Birthday of Thomas Green Clemson, the man for whom Clemson University was named, at Philadelphia, PA. The mining engineer and agriculturist married John C. Calhoun's daughter, Anna. Clemson bequeathed the old Calhoun plantation to South Carolina and Clemson Agricultural College, now Clemson University, was founded there in 1889. Clemson died at Clemson, SC, April 6, 1888. http://www.clemson.edu/welcome/history/
1835 - The Baltimore and Ohio Railroad made its trial run from Baltimore, MD, to Washington, DC, starting railroad service to the nation’s capital.
1847 - The first US postage stamps were issued by the US Postal Service, a 5 cent stamp picturing Benjamin Franklin and a 10 cent stamp honoring George Washington. Stamps had been issued by private postal services in the US prior to this date. (last part of:http://memory.loc.gov/ammem/today/jul01.html )
1852 - The first body to lie in state in the US Capitol rotunda was that of Senator Henry Clay, who died in Washington, DC, at the age of 75 on June 29, 1852. His body was placed in the rotunda, where it was displayed for the public to pay their respects, prior to interment in Lexington Cemetery, Lexington, KY.
1859 - Amherst and Williams played the first intercollegiate baseball game, with Amherst winning, 73-32. The next day Williams evened the score by defeating Amherst in a chess match.
1861 - 1st public schoolhouse opens at Washington & Mason St, SF
1862 - Congress outlaws polygamy (1st time); “an act to punish and prevent the practice of polygamy in the territories of the United Sates and other places, and disapproving and annulling certain acts of the legislative assembly of the territory of Utah.” Most of the settlers in Utah belonged to the Mormon Church (The Church of Jesus Christ of Latter-day Saints), which encouraged men to marry multiple wives. Little effort was made to enforce this law. The first anti-polygamy law with teeth was the act of March 22, 1883, known as the Edmunds law, which defined simultaneous marriages as bigamy and prescribed loss of citizenship as a penalty. It legitimized children born in polygamy before January 1, 1883.
1862 - Day 7 of the 7 Days-Battle of Malvern Hill
1862 - The Bureau of Internal Revenue was established by an act of Congress. The same day, President Abraham Lincoln signed into law a bill levying a 3 percent income tax on annual incomes of $600—$10,000, and 5 percent on incomes of more than $10,000. The revenues were to help pay for the Civil War. This tax law actually went into effect, unlike an earlier law passed August 5, 1861, making it the first income tax levied by the US. It was rescinded in 1872.
1862 - The Morrill Land Grant Act was passed. This federal legislation led to the creation of the Land Grant universities and Agricultural Experiment Stations in each state.
1863 - Today began the Battle of Gettysburg, the largest of the war, where General Robert E. Lee made a desperate bid to smash through Union forces and approach Washington, D.C. from the west. After the Southern success at Chancellorsville, VA, Lee led his forces on an invasion of the North, initially targeting Harrisburg, PA. As Union forces moved to counter the invasion, the battle lines were eventually formed at Gettysburg, PA, in one of the Civil War's most crucial and bloodiest battles. This was a turning point in the war. Quite by accident, and not foreseen by General Lee, General George G. Meade stumbled upon the advance accidentally at Gettysburg, Pa. Lee's assaults on federal positions, trying to move out of this encounter, brought extremely heavy losses to both sides. On the climactic third day of the battle (July 3), Lee ordered an attack on the center of the Union line, later to be known as Pickett's Charge. When the famous charge of Gen. George E. Pickett's division failed, with one unit leaving 3393 out of 4800 men dead or wounded on the field, the battle was lost by the South. The 15,000 rebels were repulsed, ending the Battle of Gettysburg. On July 4, both sides were exhausted. On July 5, Lee's army retreated, listing more than one-third of the troops as casualties in the failed invasion, never to return to northern territory. Union General George Meade initially failed to pursue the retreating rebels, allowing Lee's army to escape across the rain-swollen Potomac River. He felt ill prepared for the action, particularly after initiating the battle without preparation and in “surprise.” Historians say he missed an opportunity. They were not there, but made this observation primarily because Meade was not a very good tactician or leader of men. His men labeled him “timid” and used a stronger word we can't print here. The South suffered 30,000 killed, wounded, or missing. The North, 23,000. http://memory.loc.gov/ammem/today/jul01.html
a key to the victory at Gettysburg
1869 - US mint at Carson City, Nevada opens
1869 – William Strunk, Jr. , American author and educator, born in Cincinnati. A professor of English at Cornell University , he authored “The Elements of Style ” (1918). After revision and enlargement by his former student E. B. White , it became a highly influential guide to English usage during the late 20th century, commonly called Strunk & White. It remains prominent now into the 21st century.
1870 – The US Department of Justice is created. The Attorney General was initially a one-person, part-time job established by the Judiciary Act of 1789. In 1869, the U.S. House Committee on the Judiciary conducted an inquiry into the creation of a "Law department" headed by the Attorney General and composed of the various department solicitors and United States attorneys . On February 19, 1868, a bill was introduced in Congress to create the Department of Justice. This first bill was unsuccessful, however, as time to ensure its passage was consumed with the impeachment of President Andrew Johnson. A second bill was introduced to Congress by Rhode Island Representative Thomas Jenckes on February 25, 1870, and both the Senate and House passed the bill. President Ulysses S. Grant then signed the bill into law on June 22, 1870.
1874 - The first zoo in the US, the Philadelphia Zoological Society, opened. Three thousand visitors traveled by foot, horse and carriage, and steamboat to visit the exhibits. Price of admission was 25 cents for adults and 10 cents for children. There were 1,000 animals in the zoo when it opened
1876 - Birthday of Susan Keating Glaspell, U.S. novelist and playwright who won the 1930 Pulitzer Prize for her play, “Allison's House”. She wrote no further plays but continued to write novels that examined women's struggles with biology, conservative mores, and other influences on her freedom and happiness. Her early stories were steeped in the Iowa of her childhood and after the success of her first novel, she resettled in New York, married a wealthy home-town boy, and lived and romped in Greenwich Village. The bulk of her noteworthy writing was done after his death in 1924. She remarried briefly.
1881 - US Assay Office in St Louis, Missouri opens for the World's Fair Exposition.
1881 - The world's first international telephone call is made between St. Stephen, New Brunswick , Canada, and Calais, Maine , United States.
1889 - Frederick Douglass named Minister to Haiti
1890 - 2,000 Census Bureau clerks began the daunting task of tallying the results of the country's 11th census, aided for the first time by mechanical calculating devices. Some 45,000 census counters had spent the entire month of June counting America's 60 million-plus population, using hole punches to record the results of their surveys by punching out designated spots on the card, like a train conductor punches a ticket. Later, those cards were counted by a tabulating machine invented by 29-year-old Herman Hollerith. Hollerith's counting machine had soundly beaten other proposed counting methods in a contest sponsored by the Census Bureau. Hollerith later founded the Tabulating Machine Company, which, through a series of mergers and reorganizations, eventually became IBM.
1893 - President Grover Cleveland boarded the yacht Oneida for surgery to be performed in secret on a cancerous growth in his mouth. As this was during the 1893 depression, secrecy was thought desirable to avoid further panic by the public. The whole left side of Cleveland's jaw was removed as well as a small portion of his soft palate. A second, less extensive operation was performed July 17. He was later fitted with prosthesis of vulcanized rubber that he wore until his death on June 24, 1908. A single leak of the secret was plugged by Cleveland's Secretary of War, Daniel Lamont, the only member of the administration to know about the surgery. The illness did not become public knowledge until an article appeared Sept 22, 1917, in the Saturday Evening Post, written by William W. Keen, who assisted in the surgery.
1893 - Walter White, who headed the National Association for the Advancement of Colored People (NAACP) for over 20 years, was born, Atlanta, Georgia. Of mixed race with African and European ancestry on both sides, White had features showing his European ancestry. He emphasized in his autobiography, “A Man Called White” (p. 3): "I am a Negro. My skin is white, my eyes are blue, my hair is blond. The traits of my race are nowhere visible upon me." White oversaw the plans and organizational structure of the fight against public segregation. He worked with President Truman on desegregating the armed forces after the Second World War and gave him a draft for the Executive Order to implement this. Under White's leadership, the NAACP set up the Legal Defense Fund, which raised numerous legal challenges to segregation and disfranchisement, and achieved many successes. Among these was the Supreme Court ruling in Brown v. Board of Education (1954), which determined that segregated education was inherently unequal. White also quintupled NAACP membership to nearly 500,000. He passed away at the age of 61, March 21, 1955, New York City.
1898 - Teddy Roosevelt & his Rough Riders charge up San Juan Hill. Included among the U.S. ground troops were the Theodore Roosevelt-led “Rough Riders,” a collection of Western cowboys and Eastern blue bloods officially known as the First U.S. Voluntary Cavalry. The U.S. Army Fifth Corps fought its way to Santiago’s outer defenses, and on July 1 U.S. General William Shafter ordered an attack on the village of El Caney and San Juan Hill. Shafter hoped to capture El Caney before besieging the fortified heights of San Juan Hill, but the 500 Spanish defenders of the village put up a fierce resistance and held off 10 times their number for most of the day. Although El Caney was not secure, some 8,000 Americans pressed forward toward San Juan Hill. Hundreds fell under Spanish gunfire before reaching the base of the heights, where the force split up into two flanks to take San Juan Hill and Kettle Hill. The Rough Riders were among the troops in the right flank attacking Kettle Hill. When the order was given by Lieutenant John Miley that “the heights must be taken at all hazards,” the Rough Riders, who had been forced to leave their horses behind because of transportation difficulties, led the charge up the hills. The Rough Riders and the black soldiers of the 9th and 10th Cavalry regiments were the first up Kettle Hill, and San Juan Hill was taken soon after. From the crest, the Americans found themselves overlooking Santiago, and the next day they began a siege of the city. On July 3, the Spanish fleet was destroyed off Santiago by U.S. warships under Admiral William Sampson, and on July 17 the Spanish surrendered the city–and thus Cuba–to the Americans.
(Bottom half of: http://memory.loc.gov/ammem/today/jul01.html )
1899 - In Wisconsin, the Gideons were founded by three traveling businessmen. They placed their first Bibles in 1908 at the Superior Hotel in Iron Mountain, Montana. http://www.gideons.org/
1899 - Birthday of Thomas A. Dorsey, the father of gospel music, at Villa Rica, GA. Originally a blues composer, Dorsey eventually combined blues and sacred music to develop gospel music. It was Dorsey's composition, “Take My Hand, Precious Lord” that Reverend Dr. Martin Luther King, Jr., had asked to have performed just moments before his assassination. Dorsey, who composed more than 1,000 gospel songs and hundreds of blues songs in his lifetime, died Jan 23, 1993 at Chicago, ILL. http://www.allmusic.com/cg/x.dll?p=amg&sql=B141510
1902 – Birthday of William Wyler, American motion picture director, at Mülhausen , Alsace, German Empire (present-day Mulhouse , Haut-Rhin, France). Notable works included “Ben-Hur ” (1959), “The Best Years of Our Lives ” (1946), and “Mrs. Miniver ” (1942), all of which won Wyler Academy Awards for Best Director, as well as Best Picture in their respective years. Other popular Wyler films include “Funny Girl ” (1968), “How to Steal a Million ” (1966), “Wuthering Heights ” (1939), “Jezebel ” (1938), and “Hell's Heroes ” (1930). Wyler died in Los Angeles on July 27, 1981.
1903 - A strong tornado just 50 to 75 yards in width killed many persons around the Gainesville, GA Cotton Mill. The tornado strengthened and widened near the end of its four mile path, killing 40 persons at New Holland, GA. A total of 104 persons were killed in the tornado.
1903 - Irna Phillips, U.S. radio script writer, who developed the genre of the radio and TV soap opera, was born in Chicago. Starting with a ten-minute drama on a Chicago radio station (it tried to block her further progress), in 1932, she sold a similar program to the networks and the Queen of the Soaps was on her way. She wrote a dozen different shows and by 1943, she had five daily shows going at one time including the enduring “Guiding Light”, hiring a staff of writers for the daily scripting. When TV destroyed the careers of so many writers, IP moved easily into the format starting with “Guiding Light”, (1952), “As the World Turns” (1956), and “Days of Our Lives” (1965), the most famous radio and TV soap operas of history. Her writing was superior and many have mourned the passing of her higher standards. Died 23 December 1973, Chicago, IL.
1908 - Birthday of Estee Lauder. She learned sales at the family hardware store, was introduced to beauty products by her uncle, a skin specialist from whom she learned to manufacture and develop skin creams. She started by giving free demonstrations and a small gift to customers. As her business burgeoned, she divorced and later remarried her former husband who agreed to run the factory which produced the Lauder beauty products while she did the promotions, marketing, and sales. She personally opened all Lauder outlets and hired the staff which was to reflect her standards of physical attractiveness as well as a balanced personality. She passed away at age 97, April 24, 2004, New York City.
1908 – SOS is adopted as the international distress signal .
1910 - The Chicago White Sox opened their new home originally called White Sox Park and later called Comiskey Park, losing to the St. Louis Browns, 2-0. Barney Pelty pitched the shutout for the Browns.
1910 - The Ward Baking Company, Chicago, IL started the first bread factory that was completely automatic. The dough was not touched nor the bread handled except when it was placed on the wrapping machine. In 1917, Taggart Baking Company of Indianapolis, IN began distribution to Mary Maid stores, a one-pound loaf. The first bagel baker was Lender's Bakery, which opened in 1927, in West Haven, CT. The owner was Harry Lender, who had just arrived from Lublin, Poland. Lender's introduced the first frozen bagels in 1963. By the way, the first frozen bread was offered to stores on November 3, 1942, by Arnold Bakers, Port Chester, NY.
1913 - Birthday of Jo Sinclair (born Ruth Seid), U.S. an American novelist who wrote under the pen name Jo Sinclair. She earned awards and critical praise for her novels about race relations and the struggles of immigrant families in America. Her first novel, “Wasteland”, won the $10,000 Harper & Brothers prize for the best study of an aspect of U.S. life. (Cleveland).
1914 - Earle Warren Birthday. 1937-45, lead alto sax player, band manager for the Count Basie Band.
1915 - Blues legend Willie Dixon was born at Vicksburg, Ml. He moved to Chicago in 1936 and began his career as a musician with the Big Three Trio. With the advent of instrument amplification, Dixon migrated away from his acoustic upright bass into producing and songwriting with Chess Studios, where he became one of the primary architects of the classic Chicago sound in the 1950s. His songs were performed by Elvis Presley, the Everly Brothers, the Rolling Stones, Led Zeppelin, the Doors, Cream, the Yardbirds, Aerosmith, Jimi Hendrix and the Allman Brothers, among others. Dixon died Jan 29, 1992, at Burbank, CA.
1916 - Olivia De Havilland born in Tokyo to British parents. She and her younger sister, actress Joan Fontaine , moved to California in 1919. U.S. actor won Academy Awards for her work in “To Each His Own” (1946) and “The Heiress” (1949). However, she is probably best known for her role as Melanie in “Gone With the Wind” (1939). Her suit against a contract she had signed as a beginning actor broke the film studios lifetime monopoly on contract actors. It limited acting contracts to seven years, including suspensions. Her sister was Joan Fontaine (10-22-1917) who also won an Academy Award. The sisters were never friendly. De Havilland grew up in
Los Gatos and Saratoga, visiting often, as she had many friends here and
was quite the local celebrity to have to parties.
1916 - Dwight D. Eisenhower married Mary "Mamie" Geneva Doud in Denver.
1917 - Race riots in East St Louis, Illinois (40 to 200 reported killed).
1920 - Suzanne Lenglen of France became the first woman tennis player to win three Wimbledon championships in the same year. She won the singles titles, the doubles, and the mixed doubles. http://www.xrefer.com/entry/172914
1921 - The first sales tax enacted by a state became effective in West Virginia. The rate was one-fifth of 1 percent of the gross income of banks, street railroads, telephones, telegraph, express and electric light and power retailers, and two-fifths of 1 percent on timber, oil, coal, natural gas, and other minerals. Payments could be made to the state quarterly or annually. It replaced a tax on corporate net income.
1921 - Canadian country singer Stu Davis, whose real name is David Stewart, was born in Boggy Creek, Saskatchewan. He and his brother Fred teamed up in 1939 to perform as the Harmony Boys on Regina radio station CKCK. Stu Davis later became known as "Canada's Cowboy Troubador," and made appearances in the late 1940's on NBC radio's "National Barn Dance" from Chicago and the "Grand Ole Opry." Davis signed with London Records in 1956, making 15 LP's for the label. In 1968, Davis, already a veteran of several TV shows, narrated the 13-part CBC TV documentary history of Western Canada, "Trail-Riding Troubador." Eddy Arnold took Stu Davis's song "What A Fool I Was" to number two on the Billboard country chart in 1948.
1931 – United Airlines begins service (as Boeing Air Transport).
1934 – Birthday of actor Jamie Farr, Cpl. Klinger of M*A*S*H fame, in Toledo, OH as Jameel Joseph Farah.
1934 - An American film director , producer and actor , Sidney Pollack, was born in Lafayette, IN. Some of his best known works include “Jeremiah Johnson ” (1972), “The Way We Were ” (1973), “Three Days of the Condor ” (1975) and “Absence of Malice ” (1981). His 1985 film “Out of Africa ” won him Academy Awards for directing and producing; he was also nominated for Best Director Oscars for “They Shoot Horses, Don't They? ” and “Tootsie ”, in the latter of which he also appeared. His later films included “Havana ” (1990), “The Firm ” (1993), “Sabrina ” (1995), “The Interpreter ” (2005), and as producer for and actor in “Michael Clayton ” (2007). Pollack died in Pacific Palisades, CA in 2008 of cancer.
1935 - Benny Goodman and his band recorded the "King Porter Stomp" for Victor (Vi 25090). Often I play a series of how this song evolved, starting with Jelly Roll Morton, then Louis Armstrong, Benny Goodman, and finally, Gil Evans: “New Bottle, Old Wine” great album (one of my favorites).
1936 – Famous Amos, Wally Amos born in Tallahassee, FL. A real American success story. As an Air Force veteran who worked as a talent agent with the William Morris Agency , he would send home-baked chocolate chip cookies to celebrities to entice them to meet with him and maybe sign a deal to be represented by the William Morris Agency. On March 10, 1975, Amos took the advice of some friends and opened a cookie store in Los Angeles, California , naming it "Famous Amos". In the first year, he sold $300,000 worth of cookies, followed by more than $1,000,000 in sales in the store's second year of operation. The Famous Amos brand is now part of Kellogg’s.
1940 – Roosevelt signs a further Navy bill providing for the construction of 45 more ships and providing $550,000,000 to finance these and other projects.
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