Word: sales
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Dates: during 1930-1939
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Annually for the past five years Charles Babb has sold between $500,000 and $1,000,000 worth of airplanes and airplane equipment, largely to clients in Alaska, Mexico, Central and South America. His smallest sale was his first, a $700 reconditioned and guaranteed Eaglerock three-seater. His largest: $400,000 worth of assorted ships for export to France in 1936, intended, he guesses, for Loyalist Spain. As sidelines he rents ships to Hollywood cinema studios, runs a skywriting business, operates the Ryan and Stinson agencies for Central and South America...
Last week, having labored to level local obstacles and brought all the utilities except big Nebraska Power Co. into line, Banker Myers rejoiced at a milestone which seemed to assure complete success for the "Myers Deal." The Federal Power Commission approved the sale to his clients of the Nebraska part of Iowa-Nebraska Light & Power Co., second biggest in the State, for $20,195,991-a compromise figure considerably higher than FPC's cost valuation but slightly under Iowa-Nebraska's original cost valuation...
Only one bidder-a Seiberling representative-turned up at the sale. He bid just once: $752,000. Thus, F. A.'s company bought back its entire funded debt, $2,350,000, at 32% of its face value, simultaneously paying off Ohio Goodyear's bank debt and canceling the profit from the stock sale. However, on the paper profit ($1,598,000) from acquiring the debentures at the written-down figure, Seiberling Rubber Co. must pay a 19% capital-gains tax of $303,620. Net result: Seiberling Rubber retired its $3,100,000 loan by a cash outlay...
America's first textbook on cartography, written by Erwin Raisz, instructor in Cartography at the Institute of Geographical Exploration, went on public sale last week as it came off the presses of the McGraw-Hill Book Company in New York City...
Heir Martin proved a good advertising salesman but very small shakes as a publisher. In five years he has lost-one by sale, one by merger, one by forfeit- three of the papers into which millions of Curtis magazine profits were poured. Last week it appeared that Publisher Martin might soon lose his last one, the evening Public Ledger...