Word: stuarts
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Dates: during 1950-1959
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What gave Ratliff and his friends their bargaining power was the quiet support of marble-faced old (74) Harold L. (Harry) Stuart, head of Chicago's Halsey, Stuart & Co. and one of the country's top financiers. It was Stuart who floated $6,000,000 in loans to swing the Enquirer deal and who still holds $1,500,000 in debentures, which are convertible into stock. The stock would give its holders working control of the paper...
Since the fight over management began. Financier Stuart has taken a dim view of Publisher Ferger, who now votes a majority of the paper's stock under a trust agreement. Once Ferger flew to see him in Chicago, and at the end of their conference said he was going directly to catch his plane back to Cincinnati. Stuart later checked Ferger's expense account for the trip, found that it did not jibe with Ferger's account...
...Stuart was no less firm with the Ratliff faction, and impatient with their failure to win the battle with Ferger. Last week he called in Ratliff, told him he had decided to sell his interest in the Enquirer. "Might as well get out while there is a chance," he said. "Under this management, I don't think the stock will ever go up." Ratliff argued-as he had before -that Stuart himself could change the management. The banker's reply: he had no desire to run a newspaper...
...Stuart thought that his $1,500,000 block of debentures might bring as much as $3,000,000-a handsome capital gain for him, and a bargain for working control of a thriving, big daily. Control of the Enquirer would be a coup for the Taft-owned Cincinnati Times-Star, which tried to buy it before, or for the Scripps-Howard Cincinnati Post. But the purchase, which would give either paper a total of 70% of the city's advertising and circulation, might draw frowns from Government trustbusters. At week's end there were plenty of other possible...
George Harrington of the Crimson and Stuart Hansen of the visitors tied for scoring honors with 19 apiece...