Word: glore
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When the bank's anemic investment trust and two others were merged into Chicago Corp. by shrewd, dressy Charles Foster Glore (TIME, Nov. 28, 1932), Charlie Glore (whose Glore, Forgan, & Co. helped put through last week's financing), became president. He picked Dick Wagner as vice president. At that time they hoped to keep busy and make money by financing new Midwest enterprises. But the depression scared everyone...
Cash In. So Wagner and Glore, who hated to see the corporation's cash in stocks & bonds instead of sparking new business, tried their luck on Chicago real estate, began to dabble in Texas gas & oil. They saw a fortune to be made in waste natural gas. Texas oil wells within ten miles of the present pipeline alone were blowing it off at the fantastic rate of 200,000,000 cubic feet a day because there was nothing better to do with...
Wagner, who had been upped to president when Charlie Glore became chairman of the executive committee, sank $500,000 in a new process for extracting gasoline from gas, enthusiastically leased vast tracts of "worthless" gas lands, set up a string of money-making oil and gas subsidiaries...
More important than such precepts is example. One of the first practical examples of private U.S. capital going into Latin America on a partnership basis is at hand. Slim, shrewd Charles Foster Glore (of the investment banking firm of Glore, Forgan & Co.) has formed a Mexican corporation with a down-to-earth purpose and a jawbreaking name: Impulsora Comercial e Industrial S.A. (Industrial & Commercial Development Corp...
...also heads Mexico City's potent Banco de Comercio. Its purpose is to find ways of investing the long-term capital of both countries in productive Mexican enterprise; its pet project is to help U.S. corporations establish branch plants that will be 50% Mexican-owned. Said Charlie Glore last week, understating the case for his corporation: "Business in Mexico is going to be small for some time ... it has to grow...