Word: avco
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Dates: during 1930-1939
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Cord Into Avco...
According to Avco, the company is paying Mr. Cord no cash and "less than 140,000 shares of stock" ($2¾ per share last week). Avco receives about 30 Stinson planes (all tri-motors except three or four) which have been flying between St. Louis, Chicago, Detroit, Toledo and Cleveland; between El Paso and Los Angeles; and between Sacramento, San Francisco, Los Angeles and San Diego. Also it receives Century's new hangar and shop at Chicago Municipal Airport, valued...
...permission. The Century lines east of Chicago will also be erased by American Airways, which withdrew long ago from that highly competitive section. But the western coastwise service will be retained, to join American's southern transcontinental line at Los Angeles. Total new mileage acquired: 553. By accepting an Avco directorship, Motormaker Cord agrees not to engage in other air transport operations for two years. But he sees his position as a manufacturer materially strengthened. Although Avco denied that it was bound in any way to buy more transports from Cord's Stinson factory, Mr. Cord was confident that airmail...
...investment broker, President-elect Cohu learned aviation from the inside after his firm organized the investment trust called Air Investors Inc. (a substantial stockholder in Aviation Corp.). When the management of that firm became involved, Broker Cohu was made president. Year ago he was elected a director of Avco, became known as "a sort of Col. House of the directorate." He held no other office but was always being called into important committee meetings...
...Cohu's next official duty was a sad one. He had to investigate the crash of an American Airways plane with five passengers aboard at Calimesa, Calif., near San Bernardino. Pilot, co-pilot and passengers were killed. Among the passengers was a humble 21-year-old Avco employe, Albert Coburn, outgoing President Coburn...