Word: coshland
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...that ubiquitous meeting-goer, Lewis D. Gilbert ("U. S. Minority Stockholder No. 1"), rose to propose that Mr. Schwab be kicked upstairs into an "honorary chairmanship" with a $25,000 annual pension. Mr. Schwab, said Stockholder Gilbert, had outlived his usefulness. Loudly seconded was this thought by Leopold B. Coshland, a stockholder who once complained that Bethlehem was closer to Mr. Schwab's stomach than his heart...
...Schwab laughed. But loyal President Eugene Grace grew white as chalk. Eyes flashing, fist clenched, he said quietly: "Mr. Schwab has not outlived his usefulness to this corporation. His retirement would be a grave mistake." He stalked menacingly toward Stockholders Gilbert & Coshland, was restrained from snoot-punching by fellow officials...
...interrupted Stockholder Leopold Coshland, "but there comes a time when a man outlives his usefulness. . . . There are 44,000 men getting 67? an hour by the sweat of their brows in the plants of the corporation while three officers draw...
Stockholder Coshland, "I would hide my face in shame...
...When the Coshland motion to slash salaries came to a vote, however, it was defeated, 2,370,000 to 335 shares. Apparently oblivious to the commotion he had caused, Chairman Schwab uprose to remind the stockholders: "This is our thirtieth meeting and I think we have every reason to be proud. ... In the steel business I have been known as an optimist and a dreamer for 55 years, and I have seen those dreams come true...
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