Word: stockly
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Dates: during 1950-1959
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...Jones & Laughlin stock that Manhattan's Harry Schweitzer bought in 1955 at 38¾ is up to 60¾. His Continental Steel has gone from 33⅜ to 57¼, his Hecht Co. from 29¾ to 42⅝. All in all, the 895 shares in the Schweitzer portfolio were worth $21,000 and represented a handsome $12,000 profit, not to mention Harry's $1,600 savings accounts chunked together from dividends...
...steel by forming Portsmouth Steel Corp. with holdings in Detroit Steel and Cleveland-Cliffs Iron, helped that other great RFC beneficiary, Henry J. Kaiser, bankroll his ill-fated auto venture. Then, at a critical moment, Eaton backed out of a deal to underwrite $11.7 million worth of new Kaiser stock. (The court fight lasted four years; characteristically. Cy Eaton won.) One of his biggest deals: helping the late Robert R. Young win control of the New York Central Railroad in return for control of the profitable, coal-hauling Chesapeake & Ohio...
Tube-Reynolds brought the fight out into the open by calling in the press to explain its attractive offer. For two shares of Aluminium the new group would pay $10.92 in cash, plus a share of Tube stock worth $11.62-an average of $11.27 vthe $8.40 offer from Alcoa. To a hurriedly called press conference, Lord Portal lamely explained that he had ignored the much higher Tube-Reynolds offer because an Alcoa deal was in the "longterm interests of the company." But he conceded that his real fear was that the "Reynolds family," led by Reynolds President Richard Reynolds...
...half of all shares outstanding, had even picked up 260,000 shares that the Church of England's Commissioners, who handle the church's investments, unloaded at a profit of about $1,000,000. Reynolds' investment: around $40 million. In addition. Tube and Reynolds upped their stock-swap offer to $12.32, got enough additional stock to raise their total holdings...
...property. Only the British have insisted on holding Krupp to his promise. Since there is little they can-or want to -do about it, the Allies may now decide to release Krupp formally from his pledge. Krupp is already believed to own 75% of Bochumer Verein's stock, obtained through the good offices of his friend, Swedish Industrialist Axel Wenner-Gren...