Word: lobban
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Auburn brought three lines to show, led by a yellow sport roadster with exposed exhausts and a supercharged engine. Guaranteed speed: 100 m.p.h. Long and handsomely streamlined, the Auburns looked as if Errett Lobban Cord considered it a propitious moment to bid for the swift and flashy market, as he did to his great profit in the first years of Depression...
Married. Alice Lee Grosjean, 28, Louisiana supervisor of public accounts, onetime secretary to Senator Huey Long; and William Allen Tharp, 31, secretary of the Louisiana State Tax Commission, brother-in-law of Tycoon Errett Lobban Cord; in Los Angeles...
Auburn was the gold mine which supplied young Errett Lobban Cord & friends with the fortune which, between speculative excitements, they have invested in airlines, shipbuilding, taxicabs. Entering the company when it was flat on its back in 1924, Motorman Cord lofted sales from $8,000,000 in 1925 to a peak of $37,000,000 in 1929. Early in the Depression he realized that there was still a market for a smart, fast model priced under $1,000 among people who had lost their shirts but did not want their neighbors to know it. Auburn became a Depression sensation, making...
...have listened to what they have to say but have promised nothing." Lastly, a shift in the Cord personnel diverted no attention from the goings-on. Auburn's President W. Hubert Beal resigned to become right-hand man to Lucius Bass Manning, who is right-hand man to Errett Lobban Cord. To become active head of Auburn, Mr. Manning, now in complete charge of Cord affairs, picked not a Cord subordinate but a Pierce-Arrow vice president in charge of sales, Roy Henry Faulkner. True, the shift was home-coming for Roy Faulkner, a temperamental sales genius, who was Auburn...
...dividend (50? per share). In 1929 Auburn stock hit $14. Last week it was down to $6, an alltime low. A speculative favorite during the early years of Depression, it gyrated between 84 and 295 in 1931, sold above 150 even in 1932. Out of Auburn stock President Errett Lobban Cord reaped the quick fortune which put him into aviation, shipbuilding. ¶Edison Electric Illuminating Co. of Boston last week filed with the Federal Trade Commission for registration under the Securities Act, a $35,000,000 coupon note issue, biggest since the Act was passed. Proceeds were to be used...