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...attend a dinner of the Electrochemical Society. There he was joined by his brother Frank Jerome ("Jerry"), Carborundum Co. sales executive, onetime Cornell baseballer. There Franchot and Frank saw their father, Carborundum Co.'s President Frank Jerome Tone, 67 this week, receive $1,000 and the Edward Goodrich Acheson medal "for outstanding accomplishments in electrothermics." Well-to-do Mr. Tone said he would give the money back to the Society for any project the board approved...

Author: /time Magazine | Title: Science: Hardness & Heat | 10/21/1935 | See Source »

Frank Jerome Tone and Edward Goodrich Acheson made emery wheels obsolescent. An impure oxide of aluminum, emery was used for grinding in the time of the Pharaohs, was still the best abrasive industry had until 1891. In that year Acheson, looking for an artificial abrasive, found on the tip of a carbon electrode a few bright specks of an unknown substance. This, he discovered, was hard enough to cut glass and, when applied with oil to a wheel, would cut the face of a diamond tool. Acheson called the stuff "carborundum," because he thought it was composed of corundum...

Author: /time Magazine | Title: Science: Hardness & Heat | 10/21/1935 | See Source »

Died. William Goodrich Thompson, 70, indefatigable defense counsel for executed Radicals Sacco & Vanzetti, whose cause he adopted in 1924 (three years after their conviction) and carried valiantly until final defeat in 1927; in Chestnut Hill, Mass...

Author: /time Magazine | Title: Milestones, Sep. 23, 1935 | 9/23/1935 | See Source »

...company not to deal with Otis & Co. as an underwriter," he outlined the benefits of the new first mortgage as follows: 1) Its interest rate is lower than the coupons of any of the bonds and notes it replaces; therefore a considerable interest saving would be effected. 2) Goodrich's reason for refunding the Hood Rubber notes, due in 1936 anyway, is to protect its investment in that company, which last March stood at $13,440,000. 3) Since only $22,000,000 of the $28,000,000 to be raised by the new mortgage will be used...

Author: /time Magazine | Title: Business & Finance: Rubber Issue | 7/29/1935 | See Source »

When the special stockholders' meeting was convened last week, Otis & Co. counted in its favor the fact that under Goodrich by-laws at least 75% of the stockholders must approve all first mortgage financing. Since Goodrich has paid no dividends for a number of years, although it is currently operating in the black, Otis & Co. was confident of securing the proxies of enough disgruntled shareholders to block the plan. After two recesses had been called, the results of the vote were announced by President Tew: Goodrich had received 74% of the proxies- 1% short of the necessary number. President...

Author: /time Magazine | Title: Business & Finance: Rubber Issue | 7/29/1935 | See Source »

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