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...deductions, was sold by North American Aviation, Inc. to a banking group formed by Eastern's general manager, Captain Edward Vernon Rickenbacker. Elected president of the new company, Eastern Air Lines, Inc., was Eddie Rickenbacker. His backers include Harold S. Vanderbilt and the Wall Street investment firms of Kuhn, Loeb & Co. and Smith, Barney & Co. Last week these two firms offered 416,666 shares of common stock at $10 a share to a select group. By week's end some 75% of the stock had been taken up. If the rest remains unsold, the general public...

Author: /time Magazine | Title: Business: Eastern Sold | 5/2/1938 | See Source »

...Germany. In 1934 a Congressional Committee investigated the Friends of New Germany, found it "for ail practical purposes the American section of the Nazi party." The Friends changed this name to Amerikadeutscher Volksbund in 1936, resumed functioning under the leadership of a sleek, pompous, garrulous ex-chemist named Fritz Kuhn whose offices in Manhattan are decorated by portraits of Franklin Roosevelt and Adolf Hitler...

Author: /time Magazine | Title: National Affairs: Bund Banned | 3/14/1938 | See Source »

...Swastika brassards are drilled in German military tactics, sing German songs, listen to speeches in favor of Adolf Hitler. Dues of $9 a year partly go to buy camping sites, of which the Bund has 27 in as many cities. They also pay the salaries of Führer Kuhn and the district leaders whom he appoints. Major Bund centres are New York, Milwaukee and Los Angeles. Separate editions of the Deutscher Weckruf are printed in New York, Philadelphia, Chicago and Los Angeles. Unfortunately for its reputation as a legitimate wing of Naziism, the Bund did not suffer...

Author: /time Magazine | Title: National Affairs: Bund Banned | 3/14/1938 | See Source »

...first, Bund members are urged to patronize only stores run by Aryans who give members stamps entitling them to a discount relative to the amount they purchase. To achieve the second, Bundsmen have thus far done no more than make impassioned homesick speeches, parade with wooden guns. Sleek Mr. Kuhn, who looks and talks like an embryo Göring, last week failed to lead his organization through its latest crisis. He was in Brussels for an "antiCommunist" meeting with two other equally unsuccessful but considerably more authentic advocates of totalitarian government-Belgium's Léon Degrelle, France...

Author: /time Magazine | Title: National Affairs: Bund Banned | 3/14/1938 | See Source »

...continue after a merger with TWA. He also knew that TWA is in anything but healthy financial shape. So he asked General Motors to stall for a few weeks while he hunted for other buyers. These he found in the Wall Street investment houses of Smith, Barney & Co. and Kuhn, Loeb & Co. When they agreed to put up $3,500,000 in cash, keep the line independent and give General Manager Rickenbacker complete operating control, John Hertz gracefully folded his wings and yielded the battle. Said Eddie Rickenbacker: "I am glad to be able to save the airline...

Author: /time Magazine | Title: Business: Eastern to Rickenbacker | 3/14/1938 | See Source »

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