Word: airmailing
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Dates: during 1930-1939
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Reported and denied: That Cord is negotiating for purchase of Northwest Airways, a potent airmail system which flies from Chicago as far northwest as Duluth, Bismarck, N. Dak.. Winnipeg. Avco already owns 22½% of Northwest stock. A like amount is said to be owned by Transcontinental & Western Air, the remaining 55% by Minneapolis bankers...
...Transport was organized in 1926, and before it began service, "Bing" Seymour joined its ranks. He remained with it until a few months ago when he resigned as vice president in charge of operations (of United Airlines, which" had absorbed NAT). To him went much credit for early airmail pioneering. He will doubtless make his headquarters in St. Louis, operating centre of American Airways...
Foresighted air transport operators regard the express business as their ace-in-the-hole. Passenger business is rarely profitable to any long-distance carrier. Airmail subsidies are subject to politics. Airmail loads vary inversely as the postage rates (they are off 30% since the airmail stamp was upped to 8?). But air express has been zooming, will climb this year to 1,000,000 lb., 66% higher than last year...
...gone unanswered. He denied Avco's charge that he had tried to force his Stinson planes upon the company; denied placing "spies" in Avco ranks; admitted losing money on his Century Air Lines (bought by Avco), pleaded that it was a five-month-old venture without benefit of airmail. He flayed the directorate for "railroading" important deals, told stockholders that "if we had not stopped the directors from making the [North American] deal, the control of your company and its money would have passed forever from your hands...
...Every airmail contractor in the U. S. shuddered last week as the fight for control of Aviation Corp. became more & more rowdy (TIME. Nov. 21). Whether the operators sided with the management or with Motormaker Errett Lobban Cord, 30% stockholder who was trying to unseat it, the industry was painfully aware of one fact: That the missiles hurled by each side would be picked up by opponents of airmail subsidies, carefully saved until the next Congress convenes, then flung at all air transport...