Word: kolster
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Dates: during 1930-1939
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...year. Geoffrey Gottlieb Kruesi, having revolutionized long-distance flying, is at 38 neither rich nor famed. Born in Switzerland (his father was a butcher), he studied engineering at Zurich Polytechnic Institute, arrived in the U. S. 15 years ago. In California he worked under Dr. Frederick August Kolster, famed "father of the radio compass," at Federal Telegraph Co., Palo Alto...
...Kolster. To verify another typical manipulation, Counsel Gray put George F. Breen on the stand. Mr. Breen described himself as a free lance operator who made markets in stocks for corporations or their officials. In October 1928 Operator Breen learned that Board Chairman Rudolph Spreckels of Kolster Radio Corp. (now in receivership) wished to dispose of his holdings. Taking Arthur W. Cutten, famed Chicago bull, and plunging Lawrence P. Fisher of Detroit into partnership, Operator Breen obtained options on 250,000 shares of Chairman Spreckels' stock at prices ranging between $70 and $74 a share. The first...
...August ("Gus") Spreckels moved to New York, where he directed the Spreckels Sugar Corp. (formerly Federal). Rudolph Spreckels continued to live and act in the manner which made Spreckels synonymous in the West with Wealth and Prestige. First blow to the Spreckels pride must have been the collapse of Kolster Radio (1930), of which Rudolph Spreckels was board chairman. Although absolved of blame, Mr. Spreckels had shown that his potent sugar magic was not applicable to radio...
While business conditions may make this venture seem untimely, the radio business is in a better position now than it has been for some time. Generally speaking, inventories are down, many old companies whose products became household words in a short time have been eliminated. Charles Freshman, Kolster, Brandes, Ware, Freed-Elsemann, Thompson, Bel-Canto, Sleeper, Themiodyne, are no longer names to be reckoned with. The industry has been concentrated into fewer, stronger hands, some of which are pioneer survivors. Old firms still strong include Atwater Kent, Philco, Grigsby-Grunow, Stromberg-Carlson, Crosley, Grebe, Andrea Inc., Gulbransen...
Absolved. Rudolph Spreckels, San Francisco financier: of charges of "rigging the market" in Kolster radio of which he was board chairman, and withholding information from stockholders. Said Special Master in Chancery John A. Bernhard: "The question is: were Mr. Spreckels and his associates under a moral or legal duty to disclose to stockholders the disposition of their shares? ... I have concluded they were under no legal obligations...