Word: frazers
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Dates: during 1950-1959
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When Cleveland's sly old Cyrus Eaton pulled out of his firm's contract to underwrite Henry Kaiser's new $10 million stock issue for Kaiser-Frazer Corp. in 1948, he tried to find a legal loophole to justify his action...
Eaton, who backed out because the market broke as he floated the issue, failed and a federal court last year awarded Kaiser-Frazer a $3,120,743 judgment against Eaton's underwriting house, Otis & Co. Eaton shut down his business to elude Kaiser's collectors...
Millions & Millions. Once in debt to the Government up to his eyeballs, Henry Kaiser has now paid off more than $244 million. Of all his enterprises, ranging from autos, cement, magnesium and steel to aluminum and houses, only his auto company, Kaiser-Frazer, is still in debt to the U.S. It owes $51 million. Kaiser has little trouble getting money from private sources. He has recently arranged for: i) a $17,-500,000 preferred-stock issue to finance the rest of his new aluminum plant, and 2) $65 million in new private financing to add a third blast furnace...
...fifth afternoon a lookout on the minesweeper U.S.S. Token spotted Gus Frazer, unconscious, sitting upright in the boat, his hand still near the tiller. Sammy, still alive, died half an hour after his rescue. His parents' bodies were still in the boat...
What happened after that, only Gus Frazer, hurt and exhausted in a Charleston, S.C. hospital bed, was alive this week to tell...