Word: christianae
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...executive committee. McCoy, who has spent 37 years with the company, is typically calm, thoughtful, and a believer in moving cautiously. The tone of the company is still set by the Du Pont family, one of the largest and most cohesive dynasties in U.S. history. Through its Christiana Securities Co., the family can vote a dominant 29% of Du Font's common stock, and eleven of the 25 directors are either Du Ponts or married to Du Ponts. Many of the adult members of the Du Pont family, and the related Copeland and Laird clans, are spotted through...
...last summer I took an uptown bus to the Museum of Modern Art. Down in the theater in the cellar I cried it out with Greta Garbo in Queen Christiana. Upstairs I walked through the most beautiful exhibit of photographs I have ever seen and finally, I found myself by the pool in the museum garden. It was dark and warm and Buddy Guy was playing. Close and sad at first, then wild and glad...
Died. Harry Elmer Humphreys Jr., 66, president (1949-57) and chairman (1951-65) of Uniroyal Inc., formerly U.S. Rubber Co., third largest U.S. rubber producer, who rose from secretary of Christiana Securities, the Du Pont family holding company, to head the Du Pont-controlled rubber firm, where he overcame a late start in postwar expansion and more than doubled sales (to $1.2 billion) before retiring; of a heart ailment; in White Plains...
...Dikeman family of Long Beach, Calif, this week will move into a new $55,000 home that sits smack on top of an oil well. Their house-and 400 others around it-is on an oilfield owned by the Christiana Oil Corp. So valuable has the surface of the aging field become that Christiana has closed and cemented over its producing wells. It has converted the tidal slough on which they stood into a posh residential marina called Huntington Harbour, which sits on the Pacific Ocean south of Los Angeles. Like more and more U.S. companies, it has discovered that...
Copeland himself last year earned $349,846 in salary and bonus-a sum that pales in comparison with the $3,400,000 he collected in dividends on his Du Pont and Christiana shares. But the statistic that he watches most closely is Du Pont's profit as a percentage of invested capital. The company always aims for a 10% return on investment, usually comes close to achieving it. This year the figure has risen somewhat above the 8.6% of 1963, but the gain is not enough to satisfy Copeland, despite Du Pont's rising sales. Says he: "When...