Word: errett
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...American International Corp., and its troubles began. From 1925 on it was bought & sold first by brilliant, eccentric Laurence Russell Wilder, a promoter, who dropped its name and combined it with his electric equipment manufacturing firm of American Brown Boveri Electric Corp.; then by Motormaker Errett Lobban Cord, a promoter too. Present owner (since 1938): canny, balding Victor Emanuel's Aviation & Transportation Corp., which controls 102,800 of its 175,000 founders' (voting) shares...
...holding company that remained a holding company was ATCO. At that time it was called Cord Corp. and its head, hardboiled, dynamic Errett Lobban Cord, was fast becoming the least regimented syndicateer in the flying game. But in 1937 Motorman Cord sold out his Cord Corp. holdings. About a quarter of them went to his broad-shouldered, boom-voiced No. 1 man, Lucius Bass Manning, already a large stockholder. The rest went to a syndicate headed by British Bankers J. Henry Schroder & Co., and to young, up-&-coming Public Utilitarian Victor Emanuel's investment house, Emanuel & Co. (in which...
...American Airlines) stocky, purposeful Sigmund Janas was assistant to American's President C. R. Smith. Earlier he had learned the tricks of financing as Deputy Superintendent of Banks in California, the tricks of airline operation as president's assistant for Western Air Express. Close friend of Motorman Errett Lobban Cord (American's chief stockholder) he had also learned how to combine the tricks of operation and banking, take over ah airline (as Cord had American) and make it tick...
...proceeds bought up some 80 aeronautical properties, including 9,100 miles of airlines. These were presently lumped into American Airways. As might have been expected, the conglomeration had an operating loss of $3,400,000 in 1930. Successive losses brought continued shake-ups in management until 1932, when Plunger Errett Lobban Cord got control after a spectacular proxy battle...
American's stock, with 290,000 outstanding shares (biggest single owner, Errett Cord: 20,000 shares), is considerably smaller than the average issue admitted to the Big Board. And American, having been listed on the Curb only three years, has neither the profit record nor the "seasoning" that has traditionally been required for Stock Exchange listing. But the exchange was glad to list American as the largest unit of a growing industry. American is glad to have the more active market on the Big Board, for it may be obliged to issue more shares to improve its current weak...