Word: lannan
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Dates: during 1950-1959
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...James) Russell Duncan, 40, vice president of Chicago's Consolidated Foundries & Mfg. Corp. since 1954, was elected president of Minneapolis-Moline, farm implement company founded in 1929, succeeding Henry S. Reddig, 50, who resigned. The move followed a shareholder revolt in which Raider J. Patrick Lannan (TIME, July 25, 1955) and two associates won places on Minneapolis-Moline's board of directors two months ago. Lannan's H. M. Byllesby & Co. bought into Minneapolis-Moline two years ago with Henry Reddig and his brother Edward when the company's prospects looked good and its stock...
...connection with $4,600,000 worth of debentures it had issued in 1955 and 1956. The investigation also covers the activities of the Manhattan brokerage house of Elliott & Co., which handled the securities sale, and the group of 15 New York and Chicago investors, headed by Financier J. Patrick Lannan, who had bought the debentures (TIME...
...sudden spurt in Crowell-Collier stock early this year on optimistic estimates of company earnings prospects. By last August more than $500,000 worth of debentures had been quietly converted into shares of common stock, said SEC; shares were then sold at a profit to "numerous" other investors. Financier Lannan replied that Crowell-Collier's new board of directors, which decided to fold the magazines last fortnight, included none of the investors who had converted debentures. Said Lannan: "The company's 1,000% clean...
...decision to scuttle the magazines and salvage the book division was reached by a group of Manhattan and Chicago industrialists, who had put $4,600,000 into the company last year. The group, headed by Financier J. Patrick Lannan, could have gained control of the company by converting its debentures into 600,000 shares of common stock, although actual control (400,000 shares) was in the hands of Manhattan's Publication Corp., whose subsidiary publishes This Week magazine. Last week Lannan's group and Publication Corp. got together to save what they could of Crowell-Collier...
...that was definitely left of Crowell-Collier was a record-club division, Los Angeles Radio Station KFWB, a leasehold on the Crowell-Collier Building (worth up to $800,000), and P. F. Collier & Son Corp., the book-publishing subsidiary, which, said Lannan, a director of Manhattan publisher Henry Holt...