Word: penns
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Dates: during 1950-1959
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...many children have apparently come to believe that Government and industry have a sort of duty to get them through school. As one California fifth-grader wrote: "Will you Please send me some pitures of Pennsylvania Because I'am study Pennsylvaina In school. I need pictues of Penn. very bad. So please send me some pictures. If I don't get some picturs I will flop in school...
...past five years Financier Leopold Dias Silberstein, 52, has swept up 20 companies into his Penn-Texas Corp., sometimes by stock swaps after a tough proxy fight. Last week, driving for his biggest prize of all, Chicago heavy-equipment maker Fairbanks, Morse & Co. (TIME, March 12), Silberstein ran into a brass-knuckled pier 6 brawl. The opposition came not from Fairbanks, Morse but from within Silberstein's own camp. In a New York Federal Court, dissident stockholders demanded an accounting of Silberstein's management...
Worrying the rebels was the fact that the market value of Penn-Texas stock has slumped from this year's high of $19.62 to last week's $12.37. Charged a leader of another dissident group, Attorney Alfons Landa (who is also chairman of the executive committee of Fruehauf Trailer Co., and holder of 1,400 shares of Penn-Texas): "This case is alarmingly similar to Sydney Albert's Bellanca [TIME, Oct. 22]. In Bellanca, Albert had a whole safe full of unissued shares, which he traded for shares of other companies to gain control of them." Answered...
Good Deal. Silberstein and friends, said the protesting stockholders in the court complaint, bought 100,000 shares of Fairbanks, Morse for $33 apiece, then sold them to Penn-Texas at $43 for a personal profit of $1,000,000. They further charged that Penn-Texas this year bought 200,000 shares of Fairbanks, Morse at an excessive price ($45), raised the money by borrowing and by selling and leasing back Penn-Texas properties. As a result, they said, banks were threatening to call Penn-Texas loans...
Sebo, who came to Penn in 1953, did not win a game in his first two seasons, but this year picked up four victories, including a 28 to 14 uset over a favored Crimson eleven. A campus poll at the end of his second losing season gave a vote of confidence to the coach...