Word: sweringen
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...Missouri Pacific R. R. stock was eyed curiously because of a long, unspectacular but steady rise in price. Not until long after the stock-market crash did the public learn the reason why: Cleveland's Van Sweringen Brothers had been quietly buying control. The Brothers Van Sweringen put $86,000,000 into MOP securities, paid better than $80 a share for the common stock majority. Last week MOP stock sold at $1.25. Borne down with a weary load of debt and dwindling earnings, MOP subsided into bankruptcy...
Railway managements envied the coal-carrying Chesapeake & Ohio, kingpin of the Van Sweringen structure, which earned $23,384,000 against $26.558,000, or $3.06 a share against...
...line was bought by New York Central in 1885. Legend is that when Commodore Vanderbilt first heard the asking price, he bellowed, "I would not pay that if the tracks were nickel plated." In 1916 control of the road was bought by Cleveland's hustling Van Sweringen Brothers. It was their first road and is today a key link in their railroad empire. Serving a rich territory, it prospered. In 1929 it borrowed $20,000,000 in three-year notes, using the proceeds to buy 53% of Wheeling
Last March the Missouri Pacific, an-other Van Sweringen road, was loaned $12,300,000 bv R. F. C. Half the funds went to repay J. P. Morgan & Co. half of a note they held. This deal excited hot words in Congress (TIME, April 11). Last week the loan fell due, was renewed for a year...
Oris Paxton Van Sweringen, 53, and his two-year-younger brother Mantis James were at home in Cleveland last week, silent as to what they thought of the Nickel Plate's situation. Quiet, busy bachelors who live together in the fashionable Shaker Heights district which they built up, the "Vans" have always been shy of publicity. But many a success writer has written of their rise from newspaper selling with pooled assets of $16.32 to a position where they control 29,704 miles of track with Cleveland's new Union Terminal as their monument. The Depression has brought a severe...