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Leahy, an old associate of Wolfson, profited when Wolfson and friends bought working control of Washington's Capital Transit Co. for $20 a share, took over the company's fat $7,000,000 surplus, and in four years paid themselves more than $30 a share in dividends. In 1950 Leahy owned 4,700 Capital Transit shares. He declined to say whether he still owns them, but if he does, he has made upwards of $150,000 in dividends and an estimated $100,000 more in paper profits. Later he became a partner with Sam and Cecil Wolfson (Louis...
...high cost is due partly to the fact that ground handling of cargo is done with expensive, old-fashioned methods. According to a University of Tennessee survey, "an estimated 80% of total in-transit time for air freight is consumed by slow and inefficient ground handling." Only a small number of the major U.S. airports have separate air-freight terminals; most lines process their freight through passenger terminals or makeshift sheds. Furthermore, most cargo planes flying today are not suited to the job, are hard to load and unload, often have high maintenance costs...
Last week La Régie Autonome des Transports Parisiens (transit authority) embarked upon an experiment designed to give the subway a daintiness hitherto found only in boudoir and meadow. Each train traveling two of the main routes across Paris was equipped with an atomizer through which gushed a jet of perfume. On the Vincennes-Neuilly line, the fragrance was Eau de Cologne; on the Orleans-Clignancourt line, a workmen's route, it was Essence of Pine. "My," said one happy office worker arriving at his desk, "the Metro smelled deliciously today." But after a careful sniff...
Councilman Joseph A. DeGuglielmo '29 yesterday charged that Harvard Square was being used as a bus terminal and passed an Order at the City Council meeting requesting the Metropolitan Transit Authority to stop this practice...
...example, Louis E. Wolfson, who is now waging a proxy war to take over the $999 million Montgomery Ward Co., bought control of Washington's Capital Transit Co. five years ago for $2,100,000. Since then Wolfson has paid out $5,911,200 in dividends from cash in the till. As a result, the stock has soared, bringing Wolfson and his associates a whopping $4,378,320 profit on the stock alone...