Word: olin
(lookup in dictionary)
(lookup stats)
Dates: during 1930-1939
Sort By: most recent first
(reverse)
Franklin William Olin stands six feet high, weighs 240 lb., and is one of the best known blackpowder men in the country. Last week Powderman Olin, in his 72nd year, put through a deal which once would have seemed incredible...
Thirty-four years ago powder-wise Mr. Olin founded Western Cartridge Co. in East Alton, 111. Soon the company was well entrenched in the munitions field and from time to time since the War it has set the pace for the industry, continually improving its products. Its most notable recent accomplishment was Super X shells, with a slow-burning powder to give shotguns a more even explosion, a shorter shot-string. Super X was developed in the company's laboratories by President Olin's son John, a vice president...
...this year it may make a million dollars against $878,000 last year. In good times it employs 2,300 men; now it employs 1,500. It makes clay pigeon traps, sportsmen's targets and detonators as well as shells and cartridges, is affiliated with four powder companies. President Olin hates waste and laziness, does not like to hire baseball enthusiasts or golfers. The atmosphere in the plant is friendly and open, but whenever there is an explosion (on July 10, 1923, twelve employes were killed by one) first-hand information on the cause becomes scarce...
Last week massive President Olin was in New Haven. In the arms & munitions industry New Haven has long meant but one thing: Winchester. Since Civil War days Winchester has been one of the foremost names in the U. S. firearms business. Its .30-.30 became the standard deer rifle, its .405 caliber rifle was known from the day it was first sold as death to moose and elk, its 45-.90 probably killed more buffaloes than any other firearm. The company was one of the pioneers in the popular .22 rifle field, has also been a big maker of ammunitions...
President Olin's terms were simple: Western Cartridge would buy the Winchester business & plants (valued last year at $30,000,000) for $3.000,000 cash, $4,800,000 in preferred stock, $300,000 towards paying receivership expenses. Last week the Winchester reorganization committee consisting of Earle Bailie, president of Tri-Continental Corp. and partner of J. & W. Seligman & Co., and Medley G. B. Whelpley, president of American Express Bank & Trust Co., approved the offer. The plan then awaited the approval of the Federal receiver. When the deal is completed owners of Winchester first mortgage bonds will receive $50 cash...