Word: peres
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...Office, went back to Canada and taught tactics where he had learned them, at Kingston. In 1916 he had married a handsome Toronto girl in London. They have a married daughter, and a 21-year-old son, Peter, who is a lieutenant with the Canadians in Italy. Crerar pere was in Italy when he got the call to replace McNaughton in London. He could not tell Peter he was leaving, but-he admitted in a rare burst of confidence to a correspondent-he "gave his hand an extra squeeze...
...late last year. They are taking in more money but lower freight rates, taxes and higher wages leave less & less. Southern Pacific rolled up $21,685,247 in last year's first quarter, saw its profits plummet to $11,445,893 in this. Smaller roads fared no better. Pere Marquette tumbled from...
...Joseph Beecham's long passion for theatrical properties reached a climax when (in a syndicate) he bought no less an item than London's Covent Garden Opera House, complete with the vast Covent Garden vegetable market that adjoins it. When World War I broke, Beecham pere's colleagues backed out, left him holding the bag. In the bag was nominal ownership of the Opera House, the adjoining market, nine other theaters, and an unpaid bill for $15,000,000. Having achieved this stroke of financial wizardry, Joseph Beecham died and left the magic to Tommy. The bequest...
...expect no dividends for at least five years (they have already waited for eleven years), since all of Nickel Plate's earnings were earmarked for paying off more than $21,000,000 of debt due in 1947. Then Robert J. Bowman, the successful Young candidate for president of Pere Marquette Railway, told his equity holders that they could go begging until $40,000,000 of bonds due between now and 1956 (57% of the road's bonds) had been fully paid...
With both roads turning in better-than-average earnings, stockholders disgustedly dumped their shares on the market, by week's end had sliced some 10% off all Pere Marquette and Nickel Plate issues. But for stockholders patient enough to hang on, Bob Young's belt-tightening should mean much fatter checks later...