Word: broun
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Dates: during 1920-1929
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Information on the investments of one such market follower was last week disclosed through the daily column in the New York Telegram by Colyumist Heywood Broun. The investor is, of course, Mr. Broun himself. Managing a column which is about equally divided between the controversial and the autobiographical, Mr. Broun, in one of his revelatory moments, mentioned the nature and extent of his corporate holdings. Purposely naive (as when he remarked that should his General Realty stock prove him to be his own landlord he would certainly do something about a defective window) Mr. Broun's commitments indicated...
Perm Railroad. For, in the first place, Colyumist Broun has acquired 25 shares of Penn Railroad. Mr. Broun maintains that his Pennsylvania stock has gone off two points since his purchase. Inasmuch as it last week closed at 78 and its high for the year has been 83 (low 72) the inference would be that the purchase was made somewhat by the outsider's proverbial system of buying at the high and selling at the low. Yet, with railroads showing best earnings in years, Mr. Broun might well be told to hang on to his railroad stock...
United Corp. For Mr. Broun to identify himself with the industrial fortunes of United Corp. of Delaware, however, might be called shocking in so famed a Liberal. Incorporated early in the present year, United Corp. was formed as a holding company for the Morgan, Drexel, Bonbright and American Superpower holdings in United Gas Improvement, Public Service Corp. of New Jersey, and Mohawk Hudson Power Corp. The company was designed to "foster closer relations between the great public utility systems of the east"-i. e., to promote utility mergers and consolidations. What would Brown Derby think? How could the Nation approve...
General Realty. Concerning an unspecified number of shares in General Realty, Mr. Broun claimed that he is "wholly in the dark," having purchased common stock on a tip from a friend whose advice was based on the preferred. Mr. Broun was, therefore, unaware that the full name of his company is General Realty & Utilities Corp., that it is a holding company for real estate and for public utility stocks. Thus far (it was incorporated in January, 1929), General Realty has functioned chiefly in the realty field, holds 100,000 shares of Thompson-Starrett Co., and has as yet engaged...
Arkansas Natural Gas. Of Arkansas Natural Gas, Mr. Broun holds no less than 100 shares, the purchase apparently having been inspired by the 500,000 share turnover (TIME, May 13) during one day last fortnight. Mr. Broun bought the preferred, which has been almost stationary around 8. With his Arkansas Natural Gas, his public morality got once again all entangled in the tentacles of the Superpower Octopus. For Arkansas Natural Gas is a subsidiary of unique Henry Doherty's Cities Service Co., great among U. S. utility companies...