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EBBETS FIELD, longtime home of Brooklyn Dodgers Baseball Club, will be turned into $25 million housing development. For an estimated $2,000,000, Dodgers have sold Ebbets Field to Manhattan Real-Estateman Marvin Kratter, associated with Financier Hanns Ditisheim who took over Chicago's Butler Bros, retail-store chain eight months ago (TIME, March 5). Kratter will lease the field to team until 1961, when he starts work on housing project...

Author: /time Magazine | Title: Time Clock, Nov. 12, 1956 | 11/12/1956 | See Source »

...Ditisheim tried to take over the White Motor Co., whose stock was selling at $13 although it had a book value of $55. Buying 100,000 shares (about 3%), Ditisheim proposed a complete reorganization. But when the company refused to go along, Ditisheim was squeezed out. However, White stock moved up in the general market boom, hit $48 a share last year. Gradually selling their holdings, Ditisheim & Co. wound up with a profit in the millions...

Author: /time Magazine | Title: Business: A Company for Hanns | 3/5/1956 | See Source »

...Ditisheim moved into American Woolen Co., whose stock had a market price of $22-$25 and a book value of around $69. With 98,000 shares (10% of the stock outstanding), Ditisheim and the same group of backers again tried to reorganize, but failed when Executive Committee Chairman Albert Wiggin, who backed their bid, died in mid-deal. Selling their stock at an average $40 a share, the Ditisheim group still counted a $2,000,000 profit...

Author: /time Magazine | Title: Business: A Company for Hanns | 3/5/1956 | See Source »

...Ditisheim stepped into United Board & Carton Corp., whose stock had been limping along at around $9 a share (book value: $24). He joined a group that bought 130,000 shares (54%) and actually had control, but once again he sold out his share of the stock (13,000 shares), for a $155,000 profit. This time Ditisheim's reason was to build up cash to move into Butler Bros., which was then selling around $11 a share but had a book value...

Author: /time Magazine | Title: Business: A Company for Hanns | 3/5/1956 | See Source »

...Moneymaker. The son of a back-country Swiss doctor, Ditisheim became a Basel banker specializing in international finance. He made his first killing in 1931 arranging a $100 million debt payment by Russia to Germany. Six years later he helped Nationalist China use its silver hoard to float a $10 million war loan. He has always enjoyed spending money as much as making it. Coming to the U.S. in 1941 "to retire," he first lived in California, then bought a house in Tarrytown, N.Y., played polo, water-skied, flew small planes. After his wife persuaded him to stop flying...

Author: /time Magazine | Title: Business: A Company for Hanns | 3/5/1956 | See Source »

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