Word: odlum
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Dates: during 1930-1939
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Long before Floyd Bostwick Odlum started to collect broken-down investment trusts for Atlas Corp., he traveled all over the world using his absolute power-of-attorney to buy hundreds of millions of dollars of utility properties for Electric Bond & Share. Before that he was a $75-per-month law clerk in Salt Lake City. And shortly before that the slight, sandy-haired son of a Methodist minister was married to Hortense ("Tenney") Mc-Quarrie, daughter of a Mormon elder...
Last week, 18 years after Floyd Odlum arrived in Manhattan, so green that he tried to walk from Grand Central Station to Wall Street (3½ mi.), Mrs. Odlum was 42, mother of two sons, sprightly wife of the head of the biggest investment trust in the U. S. but still a Westerner in speech and manner. And her husband gave her a present. Hortense McQuarrie Odlum was duly elected president of Bonwit Teller, big Manhattan smartshop...
...process of collecting the investment trusts which swelled Atlas Corp.'s resources from $14,000,000 to $121,000,000 in four Depression years Mr. Odlum of necessity picked up a rag, tag & bobtail assortment of assets along with the stocks & bonds of hundreds of major U. S. corporations. Among the barge lines, furniture factories, Long Island estates, vacant lots, amusement parks and fruit ranches was Bonwit Teller. Founder Paul J. Bonwit borrowed money from Ungerleider Financial Corp. to move up Fifth Avenue from 38th Street to 56th Street in 1930. As times went from bad to worse...
...When Floyd Odlum added Goldman, Sachs Trading to his swelling portfolio of investment trusts last spring, he prudently changed the name to Pacific Eastern Corp...