Word: trane
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...Trane was a pioneer in air conditioning and is now beginning to cash in. It has had preferred stock outstanding in public hands for years but the common has always been tightly held by the founder's family and friends. Last week it filed a registration statement for 255,000 shares of common, 62,500 shares of which will be offered to the public to finance further expansion...
...Crosse last month the company held a jamboree in celebration of the opening of the fifth addition to the plant, the 25th anniversary of its entrance into the manufacture of heating equipment and the 50th anniversary of its founding as an obscure plumbing shop by James A. Trane. Plumber Trane's son Reuben went to the University of Wisconsin where he was captain of the crew. Not long after he graduated in 1910, his father decided to incorporate as a manufacturer of heating and plumbing supplies, made Son Reuben president, the job he has held ever since...
...Father Trane is dead and it was Son Reuben who put the company into air conditioning. Progress was slow. As late as 1920 there were only 40 on Trane's payroll, only 159 by 1927. Today the total is nearly 1,000. On the day the new plant was opened last month with speeches, dancing and free beer, all the La Crosse employes chipped in to buy a half-page newspaper advertisement, surprising their boss with a THANK YOU, MR. TRANE...
...Today you are giving us a party to celebrate the Opening of Greater Plant 2 of the Trane Co.," the advertisement continued. "You have left nothing undone to make us happy in many ways. We owe you and the rest of the Management a lot. . . . We are not working for the Trane Co. We are working with the Trane Co. for a common good-yours and ours. We realize that this procedure may seem unusual, but we'd like to have you know just the way we feel. The very culmination of this message is proof of its sincerity...
Tall, ruddy, white-haired at 48, President Trane is "Rube" to all La Crosse. In addition to his workers' THANK YOU, he got an 8-ft. floral valentine from the Trane Employes' Club as "The Merry Old Chief." An engineer by training, he owns 49% of his company's stock, his wife another...