Word: armoured
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...suburban Glenview, 30,000 a day watched the four-day International Air Races (see p. 44). At the Morrison Hotel holy men gathered for the World Fellowship of Faiths conference (see p. 23). And even the stench-laden stockyards made national news when, following a long Armour & Co. proxy battle, Armour directors voted down their proposed recapitalization plan...
Last week a notable meeting of stock-holders was held in a gymnasium. The gymnasium (no longer used on account of Depression) is on the second floor of Armour & Co.'s main building in the Chicago stockyards, faces on one side the packing firm's general offices, on the other a cowpen. The meeters were Armour & Co.'s stockholders. President of Armour & Co. is T. G. Lee. Thirty-eight years ago as Thomas G. Lee he became a stenographer in Armour & Co.'s beef department under the late F. Edson White. Through the ranks he rose...
...morning in January 1931, F. Edson White plunged out of his bathroom window. The directors of Armour & Co. met to pick his successor. After a stormy session they named not Philip D. Armour III, 37, who was first vice president, but Mr. Lee who was 52, had served in nearly every department of the business. Another change followed: T. George Lee became simply T. G. Lee and took up a tough job. He did more than stare down his nose at subordinates and say, as he liked to, "You're all wet." In his first report to stockholders...
...operating profit is handsome but it is wholly inadequate for Armour & Co. In the post-War slump when J. Ogden Armour lost his fortune, Armour & Co. took a terrific beating, emerged from reorganization with a debt of $144.000,000. Its funded debt is still $91,000,000. T. G. Lee could do this simple bit of arithmetic: add to $6,000,000 (interest charges), $4,000.000 (guaranteed dividends on the preferred stock of its subsidiary, Armour & Co. of Delaware) and $7,000,000 or $8,000,000 (for deprecia- tion) and the total makes over $17,000,000 that Armour...
...MacDonald Smith, who takes fewer divots and wins fewer tournaments than any other equally able golfer in the U. S.: the Western Open Golf Championship; with 282, to Tommy Armour's 288; at Olympia Fields, Chicago. On the second day of the tournament, detectives discovered that Chicago's Public Enemy No. 4, "Machine Gun Jack" McGurn, was playing in it under his real name of Vincent Gebardi. They arrested him for vagrancy at the eighth tee, where his score was one under par, accompanied him for the remaining holes. Disturbed, Golfer McGurn took...