Word: cashes
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Dates: during 1950-1959
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...task force of high-priced pressagents and lawyers, Boston Millionaire Bernard Goldfine made a big headline decision during congressional committee hearings last summer on his dealings with Presidential Assistant Sherman Adams (TIME, June 23, 1958 et seq.). He would refuse to tell the Subcommittee on Legislative Oversight about cash withdrawals of $104,973 from two of his tangled companies on the ground that the questions were not pertinent. Congress slapped him with a contempt charge...
...squeeze. The deal: for $40 million, Hughes Tool will turn over six new long-range Boeing 707s to Pan Am, beginning in December. Hughes will also get an option to buy Pan Am's six shorter-range 707s for $32-to-$33 million-if it can raise the cash. Hughes has a $320 million commitment to buy 63 jets for TWA. Even though TWA has finally climbed into the black, Hughes has trouble raising that much money...
Most of the companies started in small lofts, warehouses or garages in the commercial districts of Boston or Cambridge, looked very much like the radio-repair shops and jobbers that surrounded them. To finance samples of new products, the founders dug into personal savings or tapped friends. Cash came from such risk-minded organizations as American Research & Development Corp., which sponsored many science companies (High Voltage, Tracerlab), and from individual investor groups such as those of Laurance Rockefeller, who now is sponsoring one of 128's newest, Geophysics Corp. of America. As the prototype models succeeded, the young companies...
ITEK CORP. started when its president, a wartime aerial-reconnaissance expert named Richard Leghorn (M.I.T. '39), borrowed $142,000 from Laurance Rockefeller to buy two science-heavy organizations after the defense-spending cutback hit research in 1957. With these two-Physical Research Laboratories of Boston University and cash-shy Vectron. Inc. (electronics )-Itek began with a well-shaped organization (more than 100 scientists) that would have taken years to build. Though most of its work is classified, and identified only as "graphic retrieval,'' its stock soared from about $1.60 to $60 in a year, counting splits. Among...
...Joseph Barbara, 53, host to one of gangland's most baffling conclaves at his plush hilltop home in Apalachin, N.Y.; of a heart attack; in Johnson City, N.Y. Mystery still shrouds Barbara's famed barbecue, where police caught 65 Mafia mobsters carrying among them $300,000 in cash, a combined record of 153 arrests, 74 convictions. An immigrant (1921) from Sicily who was convicted only once (a $5,000 fine for sugar smuggling). Barbara avoided police for 25 years at Apalachin, but after his party he was indicted -with 26 others-for refusing to explain the purpose...