Word: cuyamel
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Dates: during 1930-1939
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...jobbing in New Orleans he got a stake to start importing bananas. When he could not get all the bananas he wanted in Central America he got some revolutionists busy. He clashed with big United Fruit in Guatemala and Honduras and when United Fruit wanted to buy out his Cuyamel Fruit Co. in 1930 he sold-on a share-for-share basis. United Fruit stock was then selling for $105 a share and Sam Zemurray's stake in the Caribbean was worth...
...Zemurray-Cutter feud is 20 years old. Victor Cutter was opening new tropical divisions for United Fruit. Samuel Zemurray, Polish-Jewish immigrant who out of his savings as a fruit jobber in New Orleans had formed Cuyamel Fruit & Steamship Co., was trying to wrest control of the Caribbean Sea from United. They clashed in Guatemala when each backed a different country in the dispute, not yet settled, over the Guatemalan-Honduras boundary line. They clashed in Honduras when United invaded the country Mr. Zemurray had made his own through a $200,000 revolution. Mr. Cutter, smooth-haired Dartmouth graduate...
...Cuyamel sold out to United for 300,000 shares of stock, distributed share for share. Slightly more than half of these shares Mr. Zemurray owned: the rest he controlled (his wife is daughter of his original partner, Jacob Weinberger). Sam Zemurray became largest stockholder in United Fruit and a director. His cash resources he put into government securities and bided his time...
When United Fruit bought Cuyamel its stock was selling for 105. Last June it reached its record low of 10¼. Mr. Zemurray, with some $12,000,000 profits from 20 years' operations at his finger tips, got busy. When he appeared in Boston in July he owned almost enough stock to dictate United Fruit's policies. For the rest he held proxies...
...plantations in Honduras, Guatemala, Costa Rica, Panama, Jamaica, Colombia. Last year's shipments were about 50 million bunches, ten million less than in 1931, which were five million below 1930. Throughout the plantations on the Caribbean Mr. Zemurray has replaced many United Fruit men with veterans of his Cuyamel...