Word: sherneth
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...toughest fights of Midwesterner Kirkeby's nine-year career as a hotelman, and the stakes were high: control of Manhattan's 375-room Sherry-Netherland Hotel. Sharply at 10 a.m., big, confident Mr. Kirkeby arrived at 14 Wall Street for the annual meeting of Sherneth Corp., which owns the Sherry-Netherland...
...Sherneth stockholders had not met since 1936, when, under a ten-year voting trust, a committee of bondholders took over the bankrupt hotel. In 1943, Kirkeby, who has an eye for bankrupt properties, started buying into Sherneth. When the voting trust expired this January, he owned $1,000,000 worth of the corporation'" bonds, 26% of its stock. But the trustees refused to give him a voice in running the hotel. So, his dander up, Kirkeby began collecting proxies...
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