Word: multimillions
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...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...
...pages of bonds, eight pages of blue-chip stocks, e.g., $2.8 million worth of Dow Chemical. Then came a final, eccentric footnote. As Mrs. Wilks's biggest single asset, the tabulation revealed a personal checking account which she had used for everything from $2 light bills to multimillion-dollar business deals. The balance at her death: $31 million...
Died. Sherman Hoar Bowles,* 61, who parlayed an inherited newspaper (the Springfield, Mass. Republican) into a multimillion-dollar empire; of a heart attack; in Manhattan. Starting with the paper founded in 1824 by his great-grandfather, Bowles finally owned large slices of Bell Aircraft Co., Manhattan's Longchamps restaurant chain, Atlas Tack Co., a Wall Street skyscraper. Involved for nearly two decades in skirmishes with his unionized Springfield employees, he tried, in 1947, to deliver his own papers from his strike-crippled Daily News plant, got fined $25 for piloting the paper's truck without a driver...