Word: stettiniuses
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Dates: during 1940-1949
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Edward Reilly Stettinius Sr. made his fortune as a purchasing agent for the House of Morgan during World War I. Ed Stettinius Jr., born in 1900 on Chicago's Gold Coast, grew up to make a reputation, if not a fortune, as an effective seller of other men's ideas...
...President Truman called for the export of U.S. know-how and capital to other nations of the world (in his famed Point Four), the same idea had occurred to a small, forward-looking group of U.S., British and Canadian capitalists. The group included ex-Secretary of State Edward R. Stettinius, onetime OSS Boss William J. Donovan and Britain's Sir William Samuel Stephenson, World War II boss of all British secret operations in the Western Hemisphere. At war's end, they and associates* formed the World Commerce Corp. and raised an initial $1.000.000 to help "bridge over...
Medal for Merit. Sir William agreed to take on the Jamaica cement project. With the same quiet dexterity that won him a wartime U.S. Medal for Merit, he quickly organized the Caribbean Cement Co. Ltd., with himself as chairman (Ed Stettinius joined in as a director). He got a 19-year monopoly on Jamaican cement, and a scale of guaranteed prices (30% below the delivered cost of British cement, but still enough to make a tidy $221,650 annual profit...
Stay-at-Home. At home, with his handsome wife Elizabeth (a sister of ex-Secretary of State Edward R. Stettinius***), Trippe is a relaxed and placid parent, a two-Scotches-before-dinner man who likes to hear all about his four children's day in school. The Trippes see little of Manhattan's night life. They usually spend Trippe's off hours at home in their big apartment on fashionable Gracie Square, a stone's pitch from Mayor O'Dwyer's mansion and the tooting tugs on the East River. (A deafening blast once...
Last week, Christie persuaded Republic Steel Corp. to come in on his deal. He sold the corporation approximately 20,000 shares in his Liberia Mining Co., Ltd. (no connection with Edward R. Stettinius Jr.'s Liberia Co.-TIME, Oct. 6, 1947). In two years, he and Republic hope to be shipping 1,000,000 tons a year from Monrovia to Republic and other U.S. steel mills...