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Died. George Maxwell Bell, 59, Calgary oil financier and chairman of P.P. Publications Ltd., Canada's largest newspaper chain; following surgery for a brain tumor; in Montreal. Bell bailed out his father's debt-ridden Calgary Albertan by borrowing from friends, then went on to build a multimillion dollar fortune through shrewd oil investments and by picking up other newspaper properties. In 1959, he and Winnipeg Free Press Publisher Victor Sifton joined forces to form the nine-paper P.P. chain. "The good Lord put me in the right place at the right time with the right friends...
Amfac was not always a globetrotter. The company was formed in 1849 by a German sea captain, Heinrich Hackfeld, to sell parasols, silk waistcoats, bird cages and window glass to the Hawaiians. Later, changing its name to American Factors, Ltd., the company became one of Hawaii's celebrated "Big Five" factoring agencies that grew to power by handling financing, shipping, insurance and other services for the sugar plantations. Walker's father, whose own father had been Chancellor of the Exchequer under Hawaii's King Kalakaua, became president of the company in 1933 and ran it until...
...believe in charging up to the hilt." Today he controls a hotel, restaurant, food, beer and gambling network that spreads into France, Belgium, The Netherlands, Italy, Monaco and to New York (the Royal Manhattan Hotel on Eighth Avenue). Last year, on revenues of $818 million, his Grand Metropolitan Ltd. earned $33 million net, up 62% from the previous year...
...long run by flamboyant Charles Engelhard, who before his death last year built up a billion-dollar business, mostly as an international trader and fabricator of precious metals. Engelhard does much business with Anglo-American Corp. of South Africa Ltd., which owns 30% of Engelhard's common stock and is run by Harry Oppenheimer, the South African mining magnate. But Rosenthal clearly would welcome any new business. Last year, on revenues of $1.5 billion, the company's earnings dropped from $36 million to $28 million...
Buying last week was touched off partly by a report from London-based Consolidated Gold Fields Ltd., a company that owns interests in major South African gold mines, predicting that rising industrial demand and limited supply could push the price to $85 per oz. by 1980. That may be an overstatement, but some metal traders figure that the day is coming when gold will be too valuable an industrial commodity to be used as mere money...