Word: makers
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Dates: during 1950-1959
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...Edgewater Beach, Manhattan's Plaza and Ritz Tower), Sonnabend first got interested in textiles this year, when he supported Textron's attempt to take over American Woolen. Recent purchases of Botany stock gave him working control of the company along with Philadelphia's H. Daroff & Sons, maker of men's suits. To get Botany on its feet, he has plans to merge a middle-sized, prosperous firm (e.g., Daroff) with Botany, to take advantage of the large tax-loss carry forward. He is also thinking of putting Botany's modern machinery in a new, streamlined...
...Pittsburgh, the money-losing (first-half loss: $414,511) Follansbee Steel Corp. announced a two-way deal to dispose of both its corporate shell (i.e., big-board listing and cash) and its physical assets to two separate groups, one headed by Murchison and the other by Manhattan Machine-Tool Maker Frederick W. Richmond. For some $9,000,000 cash, Richmond will buy up Follansbee's steelmaking plants, warehouses and inventories, continue to operate the company. Follansbee's corporate shell (with $9,000,000 in the till and no plants) will then merge with two profitable Murchison firms: Chicago...
Britain last week rolled out its first truly supersonic jet. Built by English Electric, maker of the Canberra twin-jet bomber, the new P. 1 is a stubby, delta-winged interceptor, with a double-barreled Armstrong Siddeley Sapphire power plant turning out a total of 20,000 Ibs. of thrust. All English Electric will say is that the plane can fly faster than sound in level flight, and that 20 have been ordered to short-cut the time lag between prototype and production models. At the news, most of Britain's newspapers went all out, claimed speeds...
Portable Pig. A portable, electric disposal unit that sits in a sink and disposes of 1½ quarts of garbage in a minute or two was announced by James. Inc.. of Independence, Kans., maker of portable dishwashers. Water from the faucet pours through the top of the lightweight machine while blades churn the refuse, which is funneled down the drain. The James garbage disposer cleans itself, will not run with the top open. Price...
...United Air Lines is now the third biggest U.S. airline (No. i: Pam Am; No. 2: American), with assets of $156 million; United Air craft is the biggest propeller and engine maker, has assets of $298 million, also makes planes (Vought) and helicopters (Sikorsky...