Word: gruen
(lookup in dictionary)
(lookup stats)
Dates: during 1930-1939
Sort By: most recent first
(reverse)
...when Cincinnati's old, famed Gruen Watch Co. found itself unable to pay $1,800,000 owed to banks, the banks asked Go-Getter Ben Katz if he could put the firm back on its feet. Substituting Gruen debentures and preferred stock for the bank loans, he thought he could do it in ten years. Last week he appeared to have done it with seven years to spare...
...Gruen, noted for its slender, popular-priced watches, had done little business during Depression. It was run by two quiet, conservative brothers, Fred and George Gruen, sons of Founder Dietrich Gruen, who died in 1911 after making the first thin pocket watch by flattening out the movement. With a Swiss chalet-style factory called Time Hill in Cincinnati, and another in Biel, Switzerland, the Gruens operated along conservative lines, licensed one or two dealers to a city, clung to the prestige of their name regardless of profits...
...first year under the Katz management Gruen made $606,000. Last year (ending March 31, 1938) net profit was $726,000. Having retired all the com pany's debentures with these profits, be sides $150,000 worth of Class A preferred stock, Ben Katz last week decided to pay off Gruen's remaining $839,000 of Class A and B preferred by issuing new common stock. With a 1938 sales record that equals last year's, and with the market in the mood for new financing, he hopes to sell 150,000 shares at a price that...
...Brothers Gruen are a little wide-eyed at the astonishing success of Benjamin Samuel Katz, who crosses the Atlantic six times a year, wears the latest Gruen wrist watch ("Ristside") and smokes cigars incessantly...
...Jeweled watches are subdivided into companies making both cases and works and those making cases but importing the works. Gruen and Bulova are the leading importers; Hamilton, Elgin and Waltham, the leading manufacturers...