Word: abitibi
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Dates: during 1930-1939
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...soon as he could toddle, played organized hockey (for boys up to 15) when he was 9, was a star player in the Ontario Junior Hockey Association when he was 12. He got his high-school education (and an "expense account") by playing hockey at Iroquois Falls for the Abitibi Paper Co., which made a practice of rounding up the best available amateurs to keep its employes in good temper during a long Canadian winter. He went to McGill University while playing for the Montreal Amateur Athletic Association. After his team won the Allan Cup, Canada...
Many a publisher thinks that the paper industry is passing along not legitimate costs but costs of bad management. Newsprint financing has always been optimistic to the point of exultation. Big Abitibi Power & Paper Co. Ltd. of Canada once had 21 issues of bonds, notes and purchase-money obligations and an immense number of preferred stock issues. Between 1928 and 1930 it bought five other paper companies and went into the power business seriously. It is now in receivership. Even International, which made $5,000,000 in 1936, had to recapitalize last year so its stockholders could be paid "some...
More than a week passed before a lineman discovered the last missing team between Sudbury and Abitibi Canyon in Northern Ontario. Grounded in a thunderstorm about 550 mi. from the start, Balloonists Trotter & Van Orman had plunged through the bush until they stumbled on power lines of Ontario Hydro-Electric Co. Shrewdly they had chopped down a pole, knowing that soon a lineman would be sent to repair the break. On the stump they left a note saying that they were following the line south. Finding the note the lineman hurried after, found them huddled in a shanty, their clothes...
Stricken Stocks. For many a year Abitibi Power & Paper Co., Ltd., owning about one-fourth of Canada's newsprint capacity and a potential million horsepower of hydroelectric power, has stood No. 1 on the New York Stock Exchange list. Last week this honor, alphabetical only, fell upon Abraham & Straus, Brooklyn department store. For Abitibi was declared bankrupt, its transfer office closed, its shares stricken from the Big Board. Abitibi's troubles were only one storm-centre in the mightily troubled newsprint industry.- Another stock stricken last week was Oesterreichische Credit-Anstalt fur Handel und Gewerbe, the name...
...renewed difficulties of Price Bros. complicated Canada's newsprint problems. A combine of companies seems essential to the industry but when a concern cannot reorganize itself the difficulties of merging it become tremendous. Last week Lake St. John Power & Paper Co., subsidiary of St. Lawrence Corp., and Abitibi Power & Paper both defaulted their interest...