Business: Final Parting

Until 1938, when he was driven to cover by a rolling barrage of lawsuits attacking his sharpshooting financial technique, Herbert Fleishhacker was the Pacific Coast's second biggest banker (No. 1 A. P. Giannini). Since October 1938 he has been out of Anglo California National Bank, and a bankruptcy receiver has been collecting his assets to pay off his creditors (whose 76 claims originally totaled $18,881,653). Last week, with unsecured claims reduced to about $3,000,000, Anglo California slapped a $160,000 suit on Fleishhacker's onetime lawyer, famed Hearst Counsel (until 1937) John Francis Neylan.

This was Anglo California's final repudiation of its builder and...

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