Word: cuneo
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Dates: during 1940-1949
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Three years ago, when Liberty was dropping a million dollars a year, Printer John Cuneo took it over for the printing bill, and decided to keep it going rather than let his huge presses stand idle. He called in his ace magazine salvager, handsome ex-Hearstling Paul Hunter, who had rescued Screenland, Silver Screen and Movie Show for him. Hunter ordered Liberty's circulation pulled up out of the barbershop trade, to reach people with more buying power. At first, under Hunter, circulation continued to drop...
...year-old John Cuneo spends much of his time with his family on his farms, where he raises hackney ponies, Palominos and Suffolks, drives his friends about in a tallyho on holidays...
...when the late Samuel Insull's famed Hawthorn-Mellody Farms went on the block, complete with an Italian villa, John Cuneo plunked out $752,000 for them. In short order, they became Chicago's third largest supplier of milk...
Into the Red. Cuneo's speculative eye had been fixed on National Tea for months before he decided to get into the grocery business. Founded by an immigrant, the late George S. Rasmussen, National Tea ran into difficulties not many years after he left the company to his sons, George S. Jr. and Robert V., and went home to Denmark. By 1937, National Tea was in the red by $1,365,280. McKinlay was brought in to try to pull it out, though Robert stayed on as president...
National made a little money, although not enough to encourage McKinlay, who sadly announced in 1943 that he saw little hope. John Cuneo, watching from the sidelines, saw plenty. He bought up 101,325 shares of common stock, another 1,907 of preferred. By last week he already had enough stockholders behind him to settle on his own terms: a thorough house cleaning of National Tea, new executives, new selling methods. When the stockholders meet, March 25, no one doubts that he will get what he wants. And no one doubts that Cuneo, in cleaning out the cobwebs, will make...