Product Details
Company
United Steel Works Corporation
Certificate Type
Sinking Fund Bond
Date Issued
July 1, 1927 (blue)
June 1, 1926 (orange)
Canceled
Yes
Printer
American Bank Note Company
Signatures
Hand signed
Approximate Size
10" (w) by 15" (h)
Images
Show the exact certificate you will receive
Guaranteed Authentic
Yes
Additional Details
NA
Historical Context
In 1926, an associate of Prescott Bush's father, Samuel P. Bush, and “Merchants of Death” board member Clarence Dillon, acquired $70 million dollars from Fritz Thyssen to set up a massive organization named the Vereinigte Stahlwerke (United Steel Works Corporation, or the German Steel Trust). This would become Germany's largest industrial corporation.
Although Thyssen's accounts were run through the Walker-Bush organization and the German Steel Trust did its corporate banking separately through Dillon Read Company, U.S. government investigations revealed that Bush's Nazi-front bank had actually worked directly with Fritz Thyssen’s United Steel Works Corporation which had produced 50.8% of Nazi Germany's pig iron, 41.4% of their universal plate, 36.0% of their heavy plate, 38.5% of their galvanized sheet metal, 45.5% of their pipes and tubes, 22.1% of their wire, and 35.0% of their explosives.
On October 20, 1942, the U.S. government ordered the seizure of all banking operations being carried out by Prescott Bush for the Nazis, under the Trading with the Enemy Act, however by that time he and the other associates at W.A. Harriman & Co. had already made their fortunes financing and arming Adolph Hitler. Under the Trading with the Enemy Act, the government was able to take over Union Banking Corporation, and The U.S. Alien Property Custodian, seized the Union Banking Corporation stock owned by Prescott Bush, E. Roland Harriman, and his associates until the war ended. Prescott Bush eventually sold his holding in Union Banking Corporation for $1,500,000.
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