Word: kaisers
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When Joseph Washington Frazer became board chairman of Graham-Paige Motors Corp., he got 45,600 shares of Graham stock for himself as part of the deal. The stock was then selling at $3.62½ a share. Joe Frazer soon changed that. He teamed up with Henry J. Kaiser, leased Willow Run, talked glowingly of Graham-Paige's future with Joe and his Frazer...
...tireless joiner, public speaker and partygoer, Palmer Hoyt gets around like no other Oregonian. He drinks his whiskey and gobbles his vitamin pills with equal gusto. His appetite for civic wheelhorsing has never been sated. He helped bring Henry Kaiser to Portland. As Oregon's first War Bond director, he put the state at the head of the U.S. in sales. His methods became the pattern for the national bond drives. In 1943 Hoyt slaved for six months as OWI's domestic director, fought hard to keep war news flowing free from needless and petty censorship...
...Kaiser-Frazer Corp. rolled merrily along last week. A second public offering of 1,800,000 shares of K-F stock (TIME, Jan. 21) was sold in less than an hour. Net proceeds: $34,470,000. K-F's first issue (1,700,000 shares) was offered for $10 a share last September. This time it brought in a spanking $20.25. But the road was getting bumpy...
...such pessimistic talk was drowned out by the hullabaloo raised by the first public showing of the Kaiser and Frazer automobiles in Manhattan's Hotel Waldorf-Astoria (a simultaneous showing on the West Coast was called off because the two handmade models on display in Manhattan were the only ones the company had). Some 156,000 New Yorkers climbed five flights of stairs and stood in line to look at the shiny green and red models...
...four and a half days, K-F salesmen took more than 8,700 "orders" from enthusiastic customers who gave no deposits, " got no promises as to delivery dates or prices. But if Henry Kaiser stuck to his general price prognostication ($900 to $1,400) K-F had a backlog (if the orders held good) of approximately $11,000,000 from the New York City showing alone. Carried away by all this, Partner Joe Frazer chortled: "We have, I believe, become the fourth largest automobile company in America...