Word: kool
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Dates: during 1940-1949
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Jesse Jones gave the British a break last week on the forced liquidation of British-owned U.S. companies to pay for war supplies. Satisfied that in today's market British-American Tobacco Co. might have trouble getting $40,000.000 for their Brown & Williamson Tobacco Co. subsidiary (Wings, Kool, Raleigh, Avalon), he lent them the money, left them a chance to salvage their investment, when the loan is paid off in ten years...
...very bottom of the barrel lies their least liquid sediment: some $850,000,000 (book value) of "investments in controlled enterprises," the unlisted securities of privately owned corporations. Such companies include giants like rayon-making American Viscose, British-American Tobacco's Brown & Williamson Tobacco Corp. (Kool, Raleigh). They also include many smaller fry: British Ropes, Ltd., J. & J. Cash, Inc. (woven names), Crosse & Blackwell (jam, etc.), Jaeger Co. (knit goods), Oxford University Press, Yardley & Co. (cosmetics), many another. Not listed on U. S. exchanges, stock in such companies is "unseasoned," would probably find an uncertain market...