Word: edithton
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Dates: during 1930-1939
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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...
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