Word: floating
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After 3^ years and more than 3,200 pages of court testimony, Henry J. Kaiser finally laid an old enemy low. He won his breach of contract suit against Otis & Co., Financier Cyrus Eaton's Cleveland underwriting firm. In 1948, Otis & Co. signed up to help float 675,000 shares of Kaiser-Frazer stock at $11.50 a share; under the contract, the underwriters could bail out if anyone should try to block the stock issue in court. At the last minute Eaton bailed out, using as an excuse a suit against K-F to prevent the stock issue...
...second later it plunged into the sea and exploded in a great sheet of jagged white fire. Flaming debris smoked and crackled on the black water. While the emergency team went to work, the carrier continued on its course. There was no confusion. From amidships, men threw float lights overboard as the still-blazing crust of the crashed Corsair slid past. On the bridge, Captain William Gallery, the Princeton's commander, swore stoutly...
...changes were wholly experimental. Bolles would try a combination, have it row about 40 strokes and then rowing it back to the float to try a new one. This afternoon he will probably pick the combination he intends to use against Cornell Saturday...
...superbly trained journalists' shell is expected to beat a hastily assembled float of the alleged funnymen by about two lengths over the 23-mile Charles River course...
...best is yet to come. Ever since exhorbitant expense did away with Float Night three years ago, the big crew race has taken place on Tree Day instead. And incidentally, although the occasion almost always brings idyllic weather for the setting, it's all postponed a day in case of rain...