Word: edisons
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Dates: during 1930-1939
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...down to $6, an alltime low. A speculative favorite during the early years of Depression, it gyrated between 84 and 295 in 1931, sold above 150 even in 1932. Out of Auburn stock President Errett Lobban Cord reaped the quick fortune which put him into aviation, shipbuilding. ¶Edison Electric Illuminating Co. of Boston last week filed with the Federal Trade Commission for registration under the Securities Act, a $35,000,000 coupon note issue, biggest since the Act was passed. Proceeds were to be used to pay a $25,000,000 two-year note issue due July...
Other honorary degrees were received from President Davis by William Hovgaard, professor of Naval Design and Construction at M. I. T.; William Barstow, president of the Edison Pioneers; William Duane Ennis, professor of Economics of Engineering at Stevens, and Harry R. Westcott, consulting engineer...
Sirs: Your article anent Insull in the May 14 issue left me with the following impression: Bighearted, genial Sam Insull was a true friend of the peepul. He had saved up a little nestegg of $100,000,000 out of his earnings as a secretary to Edison and felt reasonably well-fortified against a rainy day. He disliked money and hoped he never made another nickel, But he was continually hounded by common folk insisting that he take their savings to invest. Sam didn't want to do it. He had planned on putting his own money into some...
...blindly down the road to ruin. He built his tower of stock certificates so high that it cracked and crumbled. Bidding against Eaton. Insull's holding companies paid not only regular 1929 prices, but battle prices for the shares of his operating companies-$384 a share for Commonwealth Edison, $296 a share for Peoples' Gas. Then came the crash. Eaton backed off without control but Samuel Insull had not won. A good part of his fortune had disappeared in the fight. The rest disappeared in trying to keep his fantastic holding companies from tumbling. He had wrecked...
...Electric). In 1892, Insull, aged 32, was its vice president, earning $35,000 per year. He was asked to suggest a head for the struggling Chicago Edison Co., a $12,000-a-year job. He suggested himself and his offer was snapped up. Edison was only one of several primitive electric companies in Chicago. After three years Insull left it to join a rival named Commonwealth. Later he merged the two into Commonwealth Edison. When he went to Chicago electric power was about as reliable as the automobiles of 1905. He undertook to make it into the efficient thing...