Word: gruen
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...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...
...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...
...Walker has be come something of a legend. He has escaped the anonymity of desk work often enough to produce articles for Harper's, American Mercury, Forum and The New Yorker, a best-selling book (The Night Club Era ) and to pose for a full-page testimonial for Gruen watches in the Satevepost. He is reputed one of the ablest news executives in the land, although he will be only 36 this week. Last week he established himself as a prophet of his profession with a new book. City Editor.* City Editor is salty, rambling shoptalk and third-highball...
Rare among cities, Cincinnati lies along her seven hills watching the lordly Ohio lap at her feet. Proud is the Queen City of her Gruen watches, her Ivory soap, her municipally-owned railway which brings her half a million a year, her celebrated zoo and outdoor opera, her beer, her famed families of Longworths and Tafts. Prouder still was she last week. Cincinnati had done for the fifth time what no other U. S. city of comparable size (452.000 pop.) had done twice in succession-reinaugurated a reform municipal government. And Cincinnati was that almost equally rare big town which...