Word: ponte
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Dates: during 1940-1949
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Thomas W. Phelps, a partner in Francis I. du Pont & Co. and one of Wall Street's leading exponents of the famed Dow theory, voiced the most prevalent view. Said Tom Phelps: "Many Americans, despite their dislike of Communism, lack enough faith in capitalism to risk their money on its ability to produce sustained prosperity. Many others . . . lack not faith but cash to buy stocks after paying record high taxes and living costs. [As a result] the stockmarket remains the only uninflated segment of our economy...
Chemical Change. At E. I. du Pont de Nemours, the president customarily resigns by the time he's 60. Last week, when Walter S. Carpenter Jr. turned the mark, he stepped aside for Crawford H. Greenewalt, 45, a chemist who had joined Du Pont in 1922, later married the daughter of Irénée du Pont. Carpenter became chairman of the board, succeeding 67-year-old Lammot du Pont, who remains a director...
Cellophane Monopoly? Trustbuster John F. Sonnett of the Department of Justice got after E. I. du Pont de Nemours & Co. (Inc.). In a civil suit, he charged that Du Pont had the U.S. Cellophane market so tightly wrapped that it 1) got more than $46 million of last year's $62 million total sales, 2) imposed production restrictions on American Viscose Corp.'s Sylvania division, its only competitor in the U.S., and 3) divided the world market with a four-nation cartel. Sonnett asked the court to make Du Pont sell enough plants to permit competition. Du Pont...
Married. Margaret Osborne, 29, homespun hazel-eyed tennist (seven times national women's doubles champion, 1947 Wimbledon singles titleholder); and William du Pont, 51, banker-sportsman; she for the first time, he for the second; in Wilmington...
...never had B.C. rubbed elbows with so many tycoons at one time as he did last week at the Waldorf-Astoria. The bosses of Du Pont, General Motors Corp., General Electric Co., U.S. and Bethlehem Steel, Ford Motor Co., Chrysler Corp., the Pennsylvania Railroad Co. and many another great industry came to eat breast of guinea hen with Forbes (at his expense) and get illuminated scrolls naming them "Today's 50 Foremost Business Leaders...