Word: curtiss
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Against this rule the Allies made no headway so long as World War II was merely a threat. The French bought obsolescent Curtiss P-36s, surprised most U. S. airmen after war came by showing that they could put on a first-class show against the more advanced Messerschmitt log. The British bought Lockheed Hudsons, North American trainers, long past the secret stage. The one-year rule was first broken last September when the French were allowed to buy a new Douglas attack-bomber. Everybody knew the reason: the Air Corps was already interested in a new and better Douglas...
...last two years, Hatch has pitched the Jumbos to three wins over the Crimson. His mates batted him to a 13 to 4 victory in the spring of 1938 as Slim Curtiss was blown wide open on the mound. Last spring Healey was twice the victim of Hatch's skill on the hill, as the Stahlmen went down...
...Curtiss has 1940 earnings of $15,000,000 they will protect the dividend six to eight times whereas Atlas' usual earnings barely covered...
...Curtiss-Wright common stockholders the main advantages are the $37,000,000 of new capital from Atlas, the hope that this can be put to work to earn a return handsome enough for expansion plus dividends, and a straightened-out capital structure. To holders of Atlas' 3,000,000-odd shares of common (year-end net asset value: $12.80), it means trading $5 per share of their asset value for 65/100 share of Curtiss-Wright Common having a market value of over $6.75 ($10.50 a full share), and the remaining $7.80 per share of their asset value...
...Odlum, Atlas' largest holder (roughly 200,000 shares of common, 200,000 warrants), a boom in Curtiss-Wright stock to these levels would be bonanza. To him also it means that his new $25,000,000 investment company will have only common stock, no preferred dividends to worry about in his speculative business. And it means that his clean capital structure may attract new speculative money, if he ever wants it. Even with its reduced capital Odlum's new Atlas, no longer an investment trust, now a new-fangled investment finance company, will tower over Wall Street...