Word: biddings
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Dates: during 1920-1929
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Last August the Shipping Board put on the auction block its two best Atlantic properties-the U. S. Lines and the American Merchant Line. The bids submitted were announced last month. High bidder was Paul Wadsworth Chapman of Manhattan, a daring and potent bond, real estate, public utility and air transport man. He offered: $13,782,000 for the six U. S. Liners (Leviathan, George Washington, President Harding, President Roosevelt, America, Republic); $2,300,000 for the five "Americans" (Banker, Farmer, Merchant, Shipper, Trader); $218,000 for pier leaseholds and sundries-total bid...
...Shipping Board the Chapman bid appeared reasonably adequate. For example, the Board's books carried the Leviathan at a value of $6,050,600 (though the U. S. spent more than $10,000,000 to recondition her). Mr. Chapman's offer itemized $6,782,000 for the Leviathan. The "American" vessels, all alike, cost the U. S. between $3,500,000 and $4,000,000 each to build. The Board valued them at $340,800 each. Mr. Chapman bid $460,000 apiece for them...
...terms of the Chapman bid were specified $4,000,000 in cash, a note for the balance, operation of 11 ships for five years, and construction of two new ships by borrowing 75% of their cost from...
Mildly defiant, the Shipping Board answered the Senate obliquely by voting (6 to 1) to accept the Chapman bid, subject to further consultation...
...After John Harvard has had 293 years of varying success, six weeks of apple sauce bid fair to leave him with nothing but a pair of pants and a coat of copper nitrate. And now that tradition has been blackjacked and thrown into a corner, these innovators are licensed to peddle their synthetic culture to the universities, colleges and preparatory schools...