Word: frazer
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Dates: during 1950-1959
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...boss of Cleveland's Otis & Co. and the Chesapeake & Ohio Railway, was helped up, then knocked down, by the U.S. Government. Otis was cleared by the Securities & Exchange Commission of six-year-old charges that it welshed on a $10 million deal to help float stock for Kaiser-Frazer Corp. But Internal Revenue agents handed Eaton a $1,570,000 bill for back income taxes (1943) on a $1,909,000 profit he made by transferring stock between two Canadian iron-ore companies...
...expects to gross $50,000 this year as a broker in penny stocks. Stockseller Coombs also started his own brokerage firm. Others got into the act, formed their own companies and began peddling stock. The boom will come of age when & if Prospector Steen and ex-Automan Joseph Frazer, who have formed Standard Uranium, get their stocks listed on the American Stock Exchange, as scheduled...
...Joseph Washington Frazer. who formed Kaiser-Frazer Corp. (now Kaiser Motors Corp.) with Henry J. Kaiser in 1945, then stepped out of company operations when he split with Kaiser in 1949, resigned as vice chairman and director of the company. Said he: "I tried to give advice and counsel, but Henry and I still didn't agree, so I decided to get off the board." Frazer will hold his job as chairman of Graham-Paige Corp., an investment company, and will be president and chairman of Standard Uranium Corp., a new company in which he will be in business...
Despite all this, competition in 1954 will be fierce. Last year saw one big auto merger (Kaiser-Frazer and Willys), and heard rumors of another (Hudson and Nash); 1954 may bring more of the same as independents battle to keep their share of the market. Meanwhile, General Motors' Harlow Curtice plans to spend $300 million in expanding production...
...budget, obviously wanted to drop an operation criticized as wasteful. Henry Kaiser and Edgar had done their best, before the hearings broke up. to acquit K-F of this charge. In a 22-page prepared statement, and an 88-page memorandum passed out to the press, they detailed Kaiser-Frazer's tribulations...