Word: distributor
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...risen from 7% of sales in 1951 to around 14% (v. an average 33% for department stores). Korvette and other big discounters have the cash reserves they need to grow, but their smaller brothers do not. Traditionally, the discounters' main credit source has been manufacturers' wholesale distributors, who "carried" discounters through periodic slow periods. Even if the discounter failed, the distributor could rationalize his own loss as advertising for the products. The sagging appliance market has tightened that credit source just when shoestring discounters need it most. For small operators, vainly trying to wrap packages, and make deliveries...
...Trans-Canada will bring. Vancouver Oilman Ralph K. Farris, son of a Liberal Senator and founder of the Northern Ontario Natural Gas Co., paid $300 for stock now worth $750,000. Two insiders invested $12,012 in stock now priced at $3,200,000. Quebec Natural Gas Co., another distributor, made $32.2 million in paper profits, and again the big chunk went to insiders. By contrast, the Alberta government thoroughly policed the Alberta Gas Trunk Line Co., and waitresses and farm hands all got a share of profits that now total $45.9 million...
...separate action resulting from the Adams case. Britain's biggest newsstand distributor, W. H. Smith & Son. announced that henceforth it will 1) screen all foreign newspapers and magazines for material that seems to violate the libel and contempt laws, and 2) handle no publications that do not have a British representative who can be held responsible in the event of court judgments. In addition, Smith's asked foreign publishers to indemnify them against fines and other expenses levied on them as a result of material in publications distributed by them...
Away As At Home. Smith's ultimatum was prompted by a contempt case in which it was fined $140 for distributing an issue of Newsweek containing a story that was held prejudicial to Dr. Adams' case. While punishing the distributor, the court did not punish Newsweek, ruled that Newsweek's London bureau chief, Eldon W. Griffiths, was not responsible.' since he testified that he had cabled nothing on the Adams trial and that the offending account had been written in New York from newspaper clippings...
...subsidiaries manufacturing everything from candy to tin cans). But the team raised only enough to buy 60,000 shares. Last week, for the second time in seven weeks, ailing U.S. Hoffman got a new transfusion. The donor : Harold Roth, president of Continental Industries, Inc., a vending-machine manufacturer and distributor...