Word: atlases
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...Atlas Corp. is the biggest U. S. trust ($103,929,000) and the most successful (asset value of its common stock has tripled since 1929). President Floyd Bostwick Odium entered Depression loaded with cash, kept liquid until bargains were plentiful, then bought other trusts by the dozen at heavy discounts from their asset value. Thus, in effect, he bought securities not at Depression lows but far below. Last year he cashed in on his paper profits to the extent of $11,000,000. Common stock dividends were initiated last September with a 30? payment, boosted fortnight...
President Odium is a great believer in "special situations." At the year end Atlas' special situations included Radio-Keith-Orpheum Corp. and Utilities Power & Light, in both of which Mr. Odium is heavily committed. But Mr. Odium does not like any "situations" which involve control. Last week in San Francisco he finished negotiating the sale of American Trust Co., a $271,800,000 institution which came with one of the trusts he picked up during Depression. Worked out by G. (for George) Parker Toms, astute Atlas West Coast representative, the deal will give Atlas some...
...showed an actual gain in net asset value in the six years since 1929. Under the personal management of Robert Earll McConnell, a highly successful mining and patent promoter who gets a cut from the trust's profits, Mayflower goes in for special situations even more heavily than Atlas. It made a tremendous profit on Rhodesian copper stocks early in Depression, has always kept a large part of its resources in cash or Government bonds to catch a bargain when it flits by. Though total assets are more than $13,700,000 Mayflower stock is inactive...
...Texas, Anchors Aweigh, Home on the Range, played by special appointment to the White House, but the celebrants enjoyed the President's favorite food to the extent of 7,000 scrambled eggs. Crowning event was the pageant: "Health, Wealth and Happiness." Central figure of "Health" was Charles Atlas, whose brawny biceps and leopard skin breechclout are familiar to all readers of pulp magazine advertisements.* He stood on a pedestal while below him paraded socialite ladies dressed as Sun, Air, Water, Bananas, Peaches, Carrots & Peas, Tomatoes, Milk, Coffee and Greens. Central figure of "Wealth" was Donna Marina Torlonia, gowned...
...tackled his problem with one great advantage. Radio Corp. had plenty of ready cash At the close of 1934, RCA's balance sheet showed cash and securities of $23,679,000 Last October, Mr. Sarnoff sold half of Radio Corp.'s interest in Radio-Keith-Orpheum to Atlas Corp. and Lehman Bros, for some $5,000,000. These investment houses also took an option on the rest of RCA's holding in RKO for another $5,000,000, payable before the end of 1937. Last November Mr. Sarnoff sold RCA's interest in Electric & Musical Industries...