Word: auctioner
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...With $10,000 worth of World Radio stock as capital, they bought control of Beacon Participations Inc., an investment-trust, used its cash to buy property cheap. In five years they controlled $30,000,000 worth of real estate, including Cambridge's Hotel Continental, which they bought at auction. They liked this taste of the hotel business. So in 1939 they bought control of Boston's swank Copley Plaza and Sheraton, both of which were losing money. Henderson admitted that he was not an expert on the hotel business, allowed his managers almost complete freedom. Both hotels, aided...
...tight-lipped businessman named Albert Houston from Chatham, Ont. had tramped from farm to farm buying used tractors. When he had 69, he slapped on some fresh paint, took them to Yorkton, Sask. In newspapers and on telephone-pole posters he advertised a "Mammoth Auction Sale of Farm Machinery." Not until the day before the auction did Yorkton's 5,577 people know what they were in for. Some 10,000 tractor-hungry farmers, their pockets bulging with cash, arrived from all over the prairies. When all the rooms in Yorkton's three hotels were snapped up, empty...
Next day, at the auction, the urge to splurge was even giddier. Reason: no ceiling prices on used machinery. A 1938 McCormick-Deering tractor, which cost $1,300, was knocked down at $2,100. A Cockshutt tractor ($1,341 new) went for $1,775. Twelve-year-old Olivers ($1,740 new) brought $1,875. One farmer got one for $1,800, sold it a moment later to an unsuccessful bidder for $1,900, thought the deal over, bought it back for $2,000. Another farmer, who had sold Houston one of his own used machines, liked the new paint...
Alice was about to move in with a new family. The famed Lewis Carroll Wonderland manuscript, whose sale at public auction in 1928 set a new manuscript high ($75,259), will be auctioned for the second time next fortnight in Manhattan. Alice lived for 65 years with the real-life Alice (the late Alice Pleasance Har-greaves), then went at auction to Bookman Dr. Abraham S. W. Rosenbach, who shortly sold her to Victor Talking Machine Co. Founder Eldridge R. Johnson, who died last November...
...founded the Baltimore Fruit Exchange, bought control of the New York Fruit Auction Corp., extended his jobbing business. When shippers' loans to growers started running as high as $4,000 an acre during the land boom following World War I, Di Giorgio limited loans to $350 an acre. Others scrambled for business he lost. When the boom collapsed, most of them went broke...