Word: doane
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Dates: during 1950-1959
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...years ago, in a letter acknowledging a bank draft of $75, Dow Chemical Co.'s Founder Herbert H. Dow wrote: "I think this will last us quite a while." Last week, in the Wall Street offices of Smith, Barney & Co., Dow's present President Leland I. Doan received another check. The amount: $100,425,000. Doan didn't think it would last long. Dow will probably be looking for more money in four years...
...fresh money was the biggest single public financing ever done by a U.S. chemical company, a 3% convertible debenture issue that investors snapped up the minute it came to market. With it, President Doan will continue the expansion program that made Dow the fastest-growing company in the fastest-growing U.S. industry. In the past six years, Dow has spent $441 million on expansion, quadrupled its sales to $410 million and its net to $36 million. Now fourth among U.S. chemical producers,* Dow plans to spend approximately $100 million a year for the next four years to carry...
Clean Sweepdown. Most of Dow's explosive postwar growth has come since 1949, when Leland Doan became president after the plane-crash death of his brother-in-law Willard Dow, son of the founder. Doan, now 57, joined the company soon after graduating from the University of Michigan (chemical engineering) in 1916. Rising through the sales department, he built a reputation as an organizer, and was made sales manager in 1929. When he took over the top spot in 1949, organization was just what the company needed. Under brilliant Willard Dow, the company had been a one-man show...
...spoken. Yet, by not making its attitude to-ward witnesses clear, the Administrative Board may be shaping the verdict in a number of clases: lack of witnesses is the shortest route to a conviction. While it is quite proper to withhold temporarily any judgment on those under arrest, Doan Bender should at least give the students who wish to testify, but don't dare, some rehef from their dilemma...
FRANKLYN E. DOAN...