Word: power
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Dates: during 1920-1929
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International Paper Co. is not its own master. It is merely a money-losing subsidiary of International Paper & Power Co., a holding company formed last year when newsprint prices were bad and it became obvious that more valuable than International Paper's coniferous forests were the rivers that rushed through those forests with vast potential horsepower (TIME...
Other subsidiaries of International Paper & Power are New England Power Co. and several similar public utilities operating within the sphere of influence of the Herald and Traveler. I. P. & P. is primarily a power combine nowadays, affiliated through such men as it placed in charge of the Herald and Traveler with potent finance (Old Colony Trust Co., First National Bank, Harris Forbes & Co.), with potent industry (United Shoe Machinery Corp.), with potent traction interests (New York, New Haven & Hartford...
Central figures in I. P. & P. are two: Malcolm Greene Chace-a quiet man of mystery-millions, a man so quiet his name is not on his office door or in Who's Who. For years he was a dominant stockholder in International Paper and New England Power. When he obtained control of the former, combinations began. He kept in the background. Seldom has his name appeared in print except, during the 90's, in the sport news. He used to be an able tennis racqueteer. His background is Quaker, and old New English. His father, Arnold Buffum...
...night, but now the industrial empire of which he is chancellor is approaching romantic vastitude. Grausteinia is becoming Graustark.* In the imperial coffers lies a treasure to which the felicitous French have given a suitable name. Besides paper, Graustein of Graustark now deals chiefly in White Gold - water power...
...many a swift river, densely populated, primarily a manufacturing area needing railroads to carry workers and their products, their necessities, New England is a hydro-electric El Dorado. Its latent wealth of White Gold was discovered comparatively late owing to a} pre-emption of the handier power sites by textile and other factories; b} New England conservatism - small men content to make and sell power in a small...