Word: fortington
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...marked a reversal of a much-criticized policy: it also provided the Board with a suitable figure to act as chairman of the New York Reserve Bank. Last winter Reserve Board Chairman Marriner Eccles ap-Brothers and Floyd Bostwick Odium's Atlas Corp. in the Paramount reorganization. Mr. Fortington quit after a split on an involved question of profit-sharing arrangements with theatre operators, departed for Labrador, where he owns a salmon river. Whether Joe Kennedy has any suggestions for resignations will not be known until his final report is published. More comforting to the directors would be suggestions...
...John D. Hertz, who, putting all thought of retirement from his head, had in the meantime become a partner in the Manhattan banking house of Lehman Brothers. Another was Floyd Bostwick Odium, who smelled a bargain for his Atlas Corp. And finally there was Harold A. Fortington, financial secretary of Britain's Royal Liverpool group of insurance companies. An exceedingly rich and somewhat mysterious Briton, Mr. Fortington has been in the U. S. since 1920. He has a home in England, an apartment in Manhattan and a 1,400-acre estate in Pawling, N. Y., where...
Messrs. Hertz, Odium & Fortington also had rich friends who liked the looks of the Paramount wreck. Stockholders, bondholders, trade creditors, and the big banks all had conflicting claims. But the importance of Messrs. Hertz, Odium, Fortington & friends was the fact that together they owned nearly $20,000,000 face value of defaulted Paramount debentures and other claims. What was more, they had shrewdly purchased most of the bonds after the company went bankrupt. Thus it was that Messrs. Hertz, Odium et al. had much more to say about the reorganization plan which went to the courts last November than...
...only missing jig in the Paramount puzzle was the executive staff. Last week Paramount's 17 new directors got together in Manhattan, attended to this final detail. Old Mr. Zukor was given a berth as board chairman but key job of executive committee chairman went to Mr. Fortington. Picked for president was John Edward Otterson, 54, a tall, quiet, iron-haired onetime Naval officer who has long headed Electrical Research Products, Inc., American Telephone & Telegraph's spectacular subsidiary. He it was who boosted A. T. & T. to its dominant position in the film industry's sound equipment...
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