Word: one
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Dates: during 1930-1939
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...reorganizers (most of whom were bankers who had financed Fisk) for sacrificing the bondholders to suit their own fiscal interests. The old company was sold for $3,030,000 to a new corporation which wrote it up to $13,000,000, but new Fisk Rubber Corp. was clean in one respect: it had no bonded debt. And it prospered...
...one man, however, the deal was a shock. He is short, bald, capable Colonel Charles Edward Speaks, 52, Fisk President, who has increased his firm's business about 65% since he took over in 1936. Almost solely responsible for Fisk's good showing, he wanted to keep his plant going independently and profitably. Says he: "Of course, I'm an operating man, and I don't see any reason why the directors should want to sell...
Just as extraordinary is what is now going on within Pratt & Whitney's existing plant. Workmen are being hired at the rate of 50 a day. Soon there will be two men at every job-one working, one watching - throughout its 6,000-job plant. This also is a necessary extravagance. For one man at each job is a learner. When the new plant is opened, a trained staff will be ready to march in and begin production at full speed...
Three months ago they turned out their first unit: a portable derrick high enough (84 feet) to pull the double-jointed tubing of the deeper wells. One of its two sections telescoped inside the other to make it short enough to transport. Shell tried it, liked it, bought two at $20,000 apiece, ordered more...
Kollsman Instrument Co. employed more than 400 men in its Elmhurst, N. Y. plant and its Glendale, Calif, branch factory, acquired a one-year backlog of instrument orders for outfitting new planes, received royalties on Kollsman's 200 patents. But no outsider really knew what it was worth until last week, when Paul Kollsman sold out to Square D Co. (maker of electric switches and control equipment, particularly an automatic circuit breaker cheap enough to be used in houses in place of fuse boxes...