Word: ownerships
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Dates: during 1950-1959
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Competition in Charlotte. The Knights, wary of complaints about monopoly, were not anxious to gobble up the News and take sole ownership in a town they entered only four years ago. But buying the News made the kind of economic sense that Jim Knight likes to make: fusing the mechanical and business office operations of the two papers will give the ledgers a real lift. As for the editorial side, Jim Knight plans to let each paper keep its individual character, with the News continuing as a folksy, locally oriented, feature-conscious paper, while the Observer moves on a somewhat...
...York Stock Exchange spends more than $1,000,000 a year educating the U.S. public on the benefits of stock ownership. But last week the exchange was worried about all the new stockholders it has signed up and the kind of stocks they buy. The exchange increased its advertising budget 25% for a campaign to warn stockholders against tips and rumors, advised: "Hold your money tight when anyone gives you 'the inside dope.' " Merrill Lynch, Pierce, Fenner & Smith, the U.S.'s biggest brokerage house, began to run ads in 210 newspapers entitled "Danger! Inside Tip Ahead...
Hunger for Growth. The Midas touch has brought burly Lou Chesler most of the material possessions a man could desire: a 54-ft. yacht, a $250,000 Long Island estate, half ownership of a three-year-old Kentucky Derby hopeful named Atoll, firm control of two growing companies, vast investments in other stocks and Canadian real estate. Still he wants more. Recently he tried to merge Universal with Underwood Corp., got a cool reception and retreated. What makes Lou Chesler run? Answers Chesler: "I just cannot resist the challenge of an obvious business opportunity. Though this may sound corny...
...soil-bank funds. By comparison, 1,227 farmers in tiny Delaware altogether drew but $917,286 from the soil bank. "The high rigid support program is little more than a Government guarantee on the operations of corporate-type farming," charged Williams, "and actually encourages and underwrites absentee ownership to the detriment of small farmers...
...bigger profits at harvest time. Farm use of fertilizer has risen in 20 years from 1,500,000 tons to 6,200,000 tons. To handle the huge increase in crops, farmers have had to mechanize almost every farm job. From 1938 to 1958, farmers more than trebled their ownership of tractors, to 4,700,000 (an average1½ per commercial farm). Since 1945, they have increased their number of newer work-saving machinery by 1,200%-mostly with machines that had not even been invented in 1938. Farmers have invested $17.5 billion in 1,040,000 combines...