Word: mr
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Dates: during 1930-1939
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Hearst Consolidated and almost everything else Hearst owns are controlled by American Newspapers Inc., top holding company of the bewildering Hearst corporate hierarchy. Mr. Hearst owns 95% of its common stock, but Judge Shearn is his sole voting trustee. As trustee he has irrevocable control over all Hearst enterprises-provided he can keep the Consolidated preferred stockholders happy-until 1947, when Hearst will be 84. Nobody, not even Hearst, knows if Hearst will live that long, and so the trusteeship is a race against death, when the Government may demand up to 20% in inheritance taxes and creditors...
...whom Hearst has been an institution as well as a legendary figure, have wondered what would happen to the institution when William Randolph Hearst was no more. Of late they have ceased to wonder, have realized that the institution has already started breaking up before their eyes. Since Mr. Hearst abdicated two years ago, six Hearst newspapers, one news service and one magazine have been sold or scrapped; Hearst radio stations cut from ten to three; rare Hearst treasures have been knocked down for $708,846; the value of all Hearst properties, estimated (too generously...
...Mr. Hearst tries to sell me a paper...
...seven and a half years the preferred stockholders got their 7% and Hearst got a great deal more. He got over $12,000,000 in common stock dividends. Publicly-owned Hearst Consolidated newspapers paid $2,000,000 a year to King Features, which was owned by Mr. Hearst's privately owned American Newspapers Inc. And in 1935 Hearst sold his Baltimore, Atlanta and San Antonio papers to Hearst Consolidated for $8,000,000 (of which $6,000,000 was for the familiar item of "circulation, press franchises, reference libraries, etc.") in spite of the fact that these same papers...
...Manhattan accountant named Bernard Reis filed a brief objecting to the registration statements as "tending to mislead the public." Hearst kept deferring the effective date of the issues. Hounded by creditors, in June 1937 he took a train to New York and went to see Judge Shearn. This time Mr. Hearst was more than strapped. This time Hearst was desperate...