Word: edithton
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...formed a trust bearing her name to consolidate, operate and develop some of her real estate properties which as late as 1931 were valued at $12,000,000. They consisted chiefly of office buildings in the business district, subdivisions at Highland Park Highlands, Edithton (named for her) Beach and a section near Evanston. In 1929 the Trust needed new working capital, had to pay off bank loans. Mrs. McCormick endorsed an $11,000,000 bond issue which was further secured by $18,000,000 worth of securities, chiefly in Standard Oil of New Jersey.* When 15,000 tenants found themselves...
...John D. Rockefeller, recently offered a prize. She would give $1,500, not to mention consolation prizes, for the best name suggested for a 1,500-acre town some real estate men were organizing in the interests of the Rockefeller-McCormick Trust. Names poured in: "Edithwatha," "Edithsdream," "Edithport," "Edithton City," "Lakrenda," "Shadowwood," "Eden Pier," "Krenado Beach" (after Architect Krenn). A Chinaman from Madison, Wis., suggested "Elysians." W. R. Hearst of Maywood, Ill., received a prize of $5 for an inferior title. But a touch of genius fired one Elmer H. Huge of La Porte, Ind. He turned in the name...
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