Word: merchant
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Secret of Success. "The secret of my success," Founder Philip Rosenthal boasted, "is a combination of American merchandising ideas and German craftsmanship." The son of a Westphalian china merchant, Rosenthal ran away to the U.S. at 17, punched cows in Texas, rode horseback mail routes in Colorado, wound up heading the glass and china department of a Detroit department store. In 1879, when he was 24, Rosenthal returned to Germany to buy china. Instead, he bought a castle near Selb, in the heart of North Bavaria's famed porcelain country, and started turning out decorated chinaware. By 1934, when...
Emblazoned on the smokestacks of dozens of ships around the world is a huge white N. It does not, as landlubbers might think, stand for Nicaragua or The Netherlands but for Stavros Spyros Niarchos, 46, a short (5 ft. 7 in.), slim citizen of Greece whose private merchant fleet is bigger than the navies of Nicaragua and The Netherlands combined. Niarchos. whose name means "master of ships," claims to be the world's biggest independent shipowner, with some 1.600,000 tons afloat and abuilding (v. Moore-McCormack's 400,000 tons). Though he has launched more ships than...
Niarchos plans to keep on building bigger ships on the theory that operating costs increase only slightly as capacity goes up. He talks of atomic-powered 100,000-tonners in the not-too-distant future. Present-day merchant fleets, Niarchos points out, are never too far from the financial reefs. In a bad year, a ship can lose more than half its value. In the best of times, merchantmen usually work ten years or more to pay off their owners' mortgages. Thinking of his heavily mortgaged fleet, Niarchos claims he is still a long way from blue water. Says...
...Board under which Grace promised to build, and the board agreed to subsidize, 26 ships at a cost of $286 million. The program will completely replace Grace's present aging fleet over a 20-year period, as part of the Maritime Board's plan to modernize U.S. merchant shipping before it all becomes obsolete at once (TIME...
...Poujadists hope to enlist the support of the student League for Reaction, and the student Monarchists, and the student Apathy League to their cause, under the leadership of James Cronin, local merchant, and to move into the national political arena behind Governor J. Bracken Lee of Utah when their mission here is accomplished...