Word: marts
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Dates: during 1940-1949
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...months last year, his eldest son, Joseph Jr., and his son-in-law, the Marquess of Hartington, had both been killed in action. He had tried to take his mind off his troubles; he had bought property in Manhattan and Albany, finally paid $17,000,000 for the Merchandise Mart in Chicago. The antidote did not work. Said Kennedy: "I thought I'd get a kick out of such trading, but I didn...
Chicago's Marshall Field & Co. was determined to sell its giant, profitable Merchandise Mart. Joseph Patrick Kennedy, onetime Securities & Exchange and Maritime Commission chairman, was determined...
...year-old Merchandise Mart (4,000,000 sq. ft. of floor space) cost Marshall Field $30 million to build, is still valued on its books at more than $21 million. Once the whitest of elephants, it is now 100% occupied, brings in an impressive $4,000,000 annually in rents...
More important, it has a long waiting list of wholesaler tenants who want to sit in on the Mart's 400,000-a-year retail-buyer traffic. From the Kennedy point of view, the deal was a thumping bargain...
Field's seemed happy too. Said short, tough, beefy Field President Hughston M. McBain: the Mart put the company into real-estate operation to a degree that was not contemplated when the Mart was built. Now that Field's has dropped its wholesale business, the Mart is just a side show. So we're selling...