Silesian Steel

Prescott Bush

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Bio of Prescott Bush


"In 1924, Bush had been made a vice-president of A. Harriman & Co. by his father-in-law, George Herbert Walker. Also employed by the company were E. Roland Harriman and Knight Woolley, Bush's Yale classmates and fellow Bonesmen. Seven years later, Bush became a founding partner of Brown Brothers Harriman & Co. that was created through the1931 merger of Brown Bros. & Co., a merchant bank founded in Philadelphia, Pennsylvania in 1818 with Harriman Brothers & Co., established in New York City in 1927, and A. Harriman & Co.

From 1944 to 1956, Bush was a member of the Yale Corporation, the principal governing body of Yale University. Bush was on the board of directors of CBS, having been introduced to chairman William S. Paley around 1932 by his close friend and colleague William Averell Harriman, who became a major Democratic Party power-broker."

Harriman Bank was the main Wall Street partner for several German companies and the varied U.S. financial interests of Fritz Thyssen. Thyssen had been an early financial backer of the Nazi party, but by 1939 was bitterly denouncing Hitler and had fled Germany. He was later jailed by the Nazis for his opposition to the Nazi regime.[5] Business transactions with Germany were not illegal until Hitler declared war on the United States on December 11, 1941, but, six days after the attack on Pearl Harbor, President Franklin Delano Roosevelt signed the Trading With the Enemy Act after it had been made public that U.S. companies were doing business with the declared enemy of the United States. On October 20, 1942, the U.S. government ordered the seizure of German banking operations in New York City. Roosevelt's Alien Property Custodian, Leo T. Crowley, signed Vesting Order Number 248 seizing property under the Trading with the Enemy Act. The order cited only the Union Banking Corporation (UBC), of which Bush was a director and held only one share. Fox News has reports on recently declassified material about this issue, according to a document signed by Homer Jones, chief of the division of investigation and research of the Office of Alien Property Custodian, a World War II-era agency.[6] By 1941 Thyssen no longer had control over his business empire, which was in the hands of the Nazi government."

and
Prescott Bush' Business links with Fritz Thyssen

" * E. Roland Harriman – 3991 shares
* Cornelis Lievense – 4 shares (New York banker)
* Harold D. Pennington – 1 share (Employed by Prescott Bush at Brown Brothers Harriman)
* Ray Morris – 1 share (a business partner of the Bush and Harriman families)
* Prescott S. Bush – 1 share (director of UBC; managing partner for E. Roland Harriman and Averell Harriman)
* H.J. Kouwenhoven – 1 share (organized UBC for Von Thyssen, managed UBC in Netherlands)
* Johann G. Groeninger – 1 share (German Industrial Executive)

The Harriman business interests seized under the act in October and November 1942 included:

* Union Banking Corporation (UBC) (for Thyssen and Brown Brothers Harriman).
* Dutch-American Trading Corporation (with Harriman)
* the Seamless Steel Equipment Corporation (with Harriman)
* Silesian-American Corporation (this company was partially owned by a German entity; during the war the Germans tried to take full control of Silesian-American. In response to that, the American government seized German owned minority shares in the company, leaving the U.S. partners to carry on the business.)..."



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