Word: multimillions
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Dates: during 1950-1959
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I.D.S. has three other subsidiaries which invest mainly in real estate, and make I.D.S. the sixth biggest U.S. mortgage owner. I.D.S. has financed huge multimillion-dollar shopping centers at Wilmington, Chicago and Los Angeles. Last week, in a hunt for profitable new fields of real-estate investment, it spent $45,000 for advertising in a nationwide survey to determine i) where elderly, retired couples plan to live, and 2) what kind of housing they prefer (i.e., small homes, apartment kitchenettes, or what) When the returns are in, I.D.S. hopes to reach a lucrative new market that no big investor...
...small ship chandler's store seven miles from Lima, Peru, changed trades. He decided that he could make more money selling guano fertilizer (bird droppings) than from ship supplies He was right. By the time he died in 1904. his W. R. Grace & Co. was a multimillion-dollar empire whose ship lines, sales agencies, railroads and import-export business touched almost every town and hamlet along South America's west coast...
...Credit Life Insurance Co., likes to call himself the Woolworth of the insurance business. Says Jarrell, with a note of pride: "We're in the five-and ten-cent insurance business-and we like it that way." He well might. Like Woolworth's, Jarrell has built a multimillion-dollar business by scooping up the small insurance premiums in a comparatively new insurance field that many insurance companies have hardly bothered with. The field: insurance on installment buying and small-bank loans. By concentrating on credit insurance, Jarrell boosted the company up from a prewar nonentity to twelfth place...
Died. Lewis P. ("Lew") Reese, 59, granite-jawed Scio, Ohio (pop. 1,152) pottery manufacturer who turned an abandoned mill into a multimillion-dollar small-town bonanza; of a kidney ailment; in Pittsburgh. A West Virginia pottery worker, Reese scraped together $8,000 in 1932 to buy Scio's plant, mass-produced 5? teacups, saucers and plates to become the world's biggest producer of whiteware...
...dropped in at an electric-power consumers' conference in Washington's Willard Hotel and shot a 2,200-volt charge into the private power business. Harry Truman barked that the companies are carrying on a multimillion-dollar propaganda campaign against public power development, and hinted that he might call for an investigation. Said he: "What these private power companies are actually doing is deliberately and in cold blood setting out to poison the minds of the people . . . a leaf right out of the books of Karl Marx and Adolf Hitler...