Word: frazers
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Dates: during 1940-1949
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...Frazer and associates, said the statement, had bought 265,000 shares of Graham-Paige Motors Corp. from Founder Joseph B. Graham at $2 per share. The same purchasers have an option to buy on or before Sept. 7 an additional 265,000 shares at the same price, also from Founder Graham...
...corporation gave Frazer an option-good for five years-under which he may buy up to 300,000 shares of Graham-Paige stock from the company's treasury at $3.50 per share...
...Frazer's "associates" include David Baird, vice president of Marsh & McLennan, insurance brokers, and Floyd Odium, Boyd Hatch and Oswald L. Johnston, all of Atlas Corp. But Atlas itself is putting no money into Graham-Paige stock. Atlas Corp.'s June 30 statement showed a heavy cash position. The purchases were made by Atlas officers and directors as "personal investments...
Because of his option, Frazer has an incentive to build greater future value into Graham-Paige. But he also has a more personal urge to succeed. Only last September, Frazer left Willys-Overland after falling out with Ward Canaday, Willys' board chairman. Into the vacated post went Charles Sorensen from Ford, at $52,000 a year (TIME, June...
Proud of his operating skill, energetic, 52-year-old Joe Frazer did not take that lying down. At the suggestion of the Navy, he organized a company to take over Warren City Tank & Boiler Co. Last February he changed its name to Warren City Manufacturing Co., became its president, soon doubled its output of landing barges and other war goods...