Word: tycooning
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Dates: during 1930-1939
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Died. Samuel Livingston Mather Jr., 15, son of the Cleveland steel tycoon, by hanging himself with a belt looped over the top of a door in his bedroom; in Mentor, Ohio. Reason assigned: grief for his mother who died last June. His father was just landing in Europe when the news came...
...week one of the principal speakers was sharp-bearded Henry Latham Doherty, generalissimo of Cities Service Co. He scolded the oil industry for having branched into unrelated lines, said proper planning would have carried petroleum companies through the Depression. Some of his listeners marveled to hear such talk from Tycoon Doherty for if ever a company had diversified interests it is Cities Service Co. Besides being a complete oil organization, from gusher to fuel tank, it also controls natural and manufactured gas companies, power companies, street car lines. And if ever an individual had diversified interests it is Tycoon Doherty...
...industry which Tycoon Doherty now enters has been, as a whole, badly upset by Depression. August hotel room and restaurant sales were down 19%, from August 1930, 27.6% from 1928. Room sales were down 17% and restaurant sales down 21%. The room rate was averaging 8%, under last year while the August average rate of occupancy was 54% of capacity against 60%,. In comparing last month with August 1928, Horwath & Horwath, hotel accountants, found that Detroit has suffered the most with a 40% drop, while Cleveland, a big convention city, has suffered the least with a 21% drop...
...While Tycoon Doherty's entrance into the hostelry business was news, hotel men last week were primarily interested in big doings in Manhattan. In the new Waldorf-Astoria there was bustle and excitement, prior to the formal opening...
...Sherry-Netherland Hotel, also has a large interest in the Savarin chain of high-grade restaurants in Manhattan. The new Waldorf directors also include such celebrities as General William Wallace Atterbury of Pennsylvania Railroad; Edward Wentworth Beatty of Canadian Pacific; Robert Goelet, Manhattan real estate tycoon; Condé Nast, socialite-publisher; Alfred Pritchard Sloan Jr. of General Motors...