Word: schott
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Walter E. Schott, 50, is a Cincinnati businessman who likes to collect companies. Fortnight ago he called reporters and announced: "We've just bought the Bunell Machine & Tool Co. of Cleveland for $1,750,000." Next day Schott called reporters again. This time he had paid $1,000,000 for the Novo Engine Co. of Lansing, Mich. This week, Schott's speculative eye was already on a new prospect. By such hustling and sharp buying, Schott has put together a family holding company with enterprises worth an estimated $20 million and controlling some 26 companies spread over...
...typical Schott deal was his purchase late in 1949 of the Royal Vacuum Cleaner Co. for $2,000,000. By vigorously pushing low-priced lines and reorganizing distribution, he increased monthly sales from $500,000 to $1,000,000, paid back the $600,000 he had borrowed from the bank in five months. He has his own rule for financing a new business: clean up the bank debt by the end of a year with profits from other companies...
...scant hundred feet from the Senate Office Building lies a dismal little thoroughfare named Schott's Alley. Its huddled brick houses have no plumbing, heat or electricity. In summer, the stench of its outdoor privies drifts through the open windows of the apartment building where many Senate secretaries live. But few Senators know that it exists...
...other events followed. On November 29 the body of one Raymond Lesobre, real-estate agent, was found in an empty villa in St. Cloud, shot through the back of his head. In his pocket was the visiting card of "Herr Schott." Among people mysteriously missing in recent weeks was a young German, Arthur Frommer, who had an uncle named Schott. Aroused at last, secret police agents traced Uncle Schott to Nice. He had no recollection of giving any visiting cards to his nephew, but did remember giving his card to a plausible young German named Eugene George Weidmann. Eugene George...
...Year before its profits were $1,790,000. During 1935 the company paid off its $1,000,000 funded debt, boosted dividends four successive times. "Plans are under way for increasing production facilities to keep pace with the increasing demand for the company's product," wrote President Max Schott. Calling for a $2,600,000 expenditure, this expansion will be financed from profits...