Word: drugman
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Dates: during 1930-1939
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...Chicago's President Robert Maynard Hutchins also announced a notable gift last week. With an anonymous donor promising $275,000 for "research in American institutions" if someone would match it two for one, President Hutchins finally found a man willing to give him $550,000. He was Drugman Charles Rudolph Walgreen, who two years ago was so shocked by his niece Lucille Norton's breakfast-table talk about communism that he not only withdrew her from the University but provoked a sensational legislative investigation (TIME, April 22, 1935). Of the resulting Charles R. Walgreen Foundation for the Study...
...simple principle of Founder-President Charles Rudolph Walgreen that a chain can be as long as it wants provided each link is strong. Each of his corner drugstores in 33 States can stay put so long as it is profitable, no longer. Now 63, bald, humorless, stern-faced Drugman Walgreen started rolling pills in a Dixon, Ill. drugstore in his teens. He left Dixon for Chicago when he was 20, got a drug clerk's job the day he arrived, started studying to be a pharmacist. He bought his first store on Chicago's South Side when...
Following the stockholders' meeting fortnight ago Walgreen directors voted a 50% stock dividend on common-with the current $2 dividend rate to continue. Previous stock dividends: 1921 (100%); 1922 (8%); 1923 (split ten for one); 1923 (16%); 1924 (16%); 1925 (16%); 1927 (split ten for one); 1934 (5%). Drugman Walgreen & family own nearly one-fourth of the common stock. Says Charles Walgreen: "There are no fixed rules for business success. I was not possessed with a vision that permitted me to foresee the developments that followed. It just happened...
Modest though the Walgreen family may be among U. S. business dynasties, it is not unknown out of the drugstore business. In 1935 one family breakfast after another was spoiled for Drugman Walgreen because his niece, Lucille Norton, 18, prattled about what she was studying as a freshman at the University of Chicago (TIME, April 22, 1935). Uncle Charles found out that Niece Lucille's reading list in a social science course included books about Soviet Russia in addition to such standbys as Herbert Hoover's American Individualism and Walter Lippmann's A Preface to Morals. Upshot...
Just before the heavy weather of the post-War depression, Drugman Queeny put out a sea anchor in Britain by buying a half interest in a Welsh concern making phenol (pure carbolic acid). In 1929 Monsanto absorbed Rubber Service Laboratories with a plant in Nitro, W. Va. for producing chemicals used in rubber processing. Same year Monsanto acquired the Buffalo, N. Y. plant of Mathieson Alkali Works and Merrimac Chemical Co. at Everett, Mass., oldest and largest New England manufacturer of heavy chemicals for the textile, paper and tanning industries. Monsanto has lost money in only three years since...