Word: hotelmen
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...months, hotelmen had been quietly tilting for control of Los Angeles' luxurious Ambassador Hotel, whose 500 rooms, famed Cocoanut Grove, swimming pool and golf course have long been run by a bondholders' trust. Conrad Hilton, owner of Chicago's Stevens ("world's largest") and twelve other hotels, thought he had the inside track. Hilton started dickering last year, first offered $22 apiece for a controlling quantity of the 58,200 trust certificates issued after the hotel went bankrupt in 1935, gradually raised this to $44, with no takers...
...while he and other hotelmen cautiously debated upping their bids a bit, in stepped Junious Myer Schine, 54, who has picked up over $30,000,000 worth of choice hotels* in less than three years in the business. He talked turkey to a group of California brokers who held a fat chunk of the trust certificates. To the consternation of Hilton et al., Schine last week paid $55 apiece for 51% of the certificates. For his $1,621,510 he got control of the hotel...
Musicians' Czar James Caesar Petrillo had already waltzed his way through wage raises from the movie magnates and hotelmen. Last week it was the turn of the record companies to feed the kitty...
Each nation may send five representatives and five alternates. With their camp followers they will total some 2,000 souls; Manhattan hotelmen feared their already jammed buildings would burst. It was encouraging that Russia was fielding its first team, led by Molotov and Vishinsky...
Mount Wilson* was not always worth that much. In 1890 a syndicate of California hotelmen bought 1,500 acres of peak timberland for $4,500. But the small hotel they built burned down and the syndicate broke...