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...finished breakfast, towering Sir Ronald Lindsay, British Ambassador to the U. S., marched briskly up the front steps of "Woodley," suburban home of Secretary of State Stimson. He was promptly ushered into the study. After brief greetings Sir Ronald handed Statesman Stimson a heavy brown envelope tied with blue cord. Inside, the brawny Briton explained, was another note from His Majesty's Government on War Debts- a note, he estimated, "about as long as the Pickwick Papers." In triple-spaced typewriting it covered 26 foolscaps, on the first of which was embossed a large lion & unicorn...

Author: /time Magazine | Title: National Affairs: Debts, Disarmament & Davis | 12/12/1932 | See Source »

Then two of the breaks awaited by Avco occurred in quick succession. E. F. Hutton & Co., Cord supporters, published a booklet in which President Cohu's name appeared above an Avco balance sheet showing $20,000,000 losses since 1929. Mr. Cohu, who has been president for only six months, started a $1,000,000 libel suit. Also, Avco got and published a letter from President William Green of the A. F. of L. Excerpts: "We are thoroughly convinced that Mr. Cord is hostile to union labor. ... If [he] secures control . . . it will be the purpose...

Author: /time Magazine | Title: Aeronautics: On Kill Devil Hill | 11/28/1932 | See Source »

...Next day Cord's most potent proxy-committeeman, white-haired Speculator Frank Arthur Vanderlip ("The Grey Ghost of Wall Street"), called at the office of young Banker William Averell Harriman, who lately left Avco's chair (TIME, Oct. 31). Presently they summoned Avco's new Chairman Robert Lehman, President Cohu, and Cord's hard-bitten Vice President Lucius Manning. From noon until nearly midnight they argued, bartered. Then, on terms which will doubtless remain secret, they emerged with a truce: the Avco board shall be reduced from 35 to 15. Five will be chosen by the present regime (probably Harriman...

Author: /time Magazine | Title: Aeronautics: On Kill Devil Hill | 11/28/1932 | See Source »

Aviation leaders breathed more easily. The dirty linen was in off the line. The Cord front-line forces vacated their enormous quarters in the Hotel Biltmore, where they had kept three leased telephone wires busy to Chicago and Los Angeles, entrained for Chicago headquarters to meet Mr. Cord, who had been in California. But whatever the truce meant to the principals, it meant nothing to Mr. Trumbull, who announced that his committee would continue to gather proxies...

Author: /time Magazine | Title: Aeronautics: On Kill Devil Hill | 11/28/1932 | See Source »

...Hubert Beal, 37, became president of Auburn Automobile Co, as busy Errett Lobban Cord, 38, retired to the chairmanship. Mr. Beal has worked for Auburn's unit, Lycoming Manufacturing Co., since 1919. In 1931 Mr. Cord withdrew into the chairmanship for ten months. Currently he needs freedom to attend to his interest in Aviation Corp...

Author: /time Magazine | Title: Business & Finance: Personnel: Nov. 28, 1932 | 11/28/1932 | See Source »

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