Word: seaboards
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Dates: during 1940-1949
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...Louis Blaustein was a genius in oil. His tank wagon business grew into American Oil Co. (Amoco). By 1922 its stations on the Atlantic seaboard were important competitors of Standard of New Jersey stations. The Blausteins worried about their source of supply, because Amoco was strictly a marketing company, depended chiefly on competing Standard of New Jersey for its gasoline and oil. Smart merchandisers, the Blausteins saw a way out, in 1923 sold half the stock of Amoco to Pan American (then controlled by Edward L. Doheny), congratulated themselves that finally they had an integrated setup. For Pan American, with...
...Perused by ICC was the application of a new Delaware corporation named Trans port Co. for permission to consolidate over 20 Atlantic seaboard trucking firms (employes 30,000; total '39 gross, $40,000.000) into one $25.000,000 firm. The deal: Transport Co. to buy the truckers for about 75% cash, balance in common & preferred stock of the new company. ∧ Be-goggled Detroiter Emmett Francis ("Spike") Connely, head of First of Michigan Corp., became first paid president of conservative Investment Bankers Association. Rumored maximum salary: $40,000 a year. He authored and will promote...
...executive committee of the Associated Harvard Clubs has yet to select a Pacific Coast city; it is only natural, however, that the meeting should take place in the east or middle west as most of the Harvard alumni come from New England and the eastern seaboard...
...reorganization plans, bondholders given the properties. Last week Pennroad Corp., which wrote its security holdings down by $87,959,517 in 1938, began to shovel some of its charred chestnuts into the fire, revealed that it had sold 152,119 of its original 402,119 shares of Seaboard Air Line (in receivership). The shares, which had cost an average of $11, had been marked down on the books to 62?, were sold for 25? each...
...Miami Beach and the rest of resort Florida was in full hothouse bloom, all figures indicating the biggest, giddiest season since Depression. Train and plane reservations were being booked two to four weeks in advance; 100% bet ter business over Christmas than in 1938 was reported by Seaboard Air Line Rail way; bus travel was up at least 25%; $3,000,000 more real estate had been sold in 1939 than in 1938 in Miami Beach, where sites were priced at from $800 to $1,000 a front foot; lots on Lincoln Road (Miami Beach's swank shopping street...