Word: avco
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...office on the 47th floor of Manhattan's Chanin Building to a broad-framed young man with a grin and a pipe. It was not surprising that the name of the president-elect, La Motte Turck Cohu, should be better known in Wall Street than in airway operations. Avco, which has yet to show black ink on a profit & loss statement, is of prime concern to the bankers who underwrote its $40,000,000 financing and who own a large part of its shares...
Southern Line. Fortnight ago the route from Atlanta to Los Angeles was opened by Southern Air Fast Express, operating company formed by American Airways (of Aviation Corp.), joint bidder with Southwest Air Fast Express for the mail contract (TIME, Oct. 6). President Coburn and Vice Chairman Grosvenor of Avco made the inaugural trip. Passengers leave either terminus at early morning, may stop overnight at Fort Worth or Dallas (about 16 hr.) and reach the opposite end next evening. (Fare, $147.15). Service will be completed between New York and Atlanta about Dec. 1 when Eastern Air Transport, mail operators, begin carrying...
...acquired Stout Air Lines (its sister subsidiary in United Aircraft & Transport), immediately placed in service a new fleet of Fords, with streamlining and engine-cowling that boost the cruising speed to 125 m. p. h. Aviation Corp. meanwhile turned attention to the new southern transcontinental airmail route which (if Avco accepts the contract) it will begin to operate Oct. 15. Not improbably Avco will seek to extend its control all the way to the Pacific by buying from Western Air Express its El Paso-Los Angeles division (formerly Standard Air Line...
...heels of Avco's semi-annual statement came announcement by Post- master General Walter Folger Brown that the contract for the new southern transcontinental airmail route was awarded to the sole bidder?Aviation Corp. (through its subsidiary, Robertson Aircraft Corp.) bidding jointly with Southwest Air Fast Express (TIME, Sept...
Fortnight ago appeared the six-month statement of Curtiss-Wright Corp. showing loss of $5,560,410.11. As in the case of Avco, about one-third of the sum was accounted for by extraordinary charges for development engineering, inventory adjustments, etc.: $2,031,307.55. Board Chairman Richard F. Hoyt was optimistic...