Word: waterman
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...steamship lines have been barred by CAB from operating scheduled airlines to foreign points, though foreign lines can do so. Last week Mobile's aggressive Waterman Steamship Corp. got around CAB. Through its subsidiary, Waterman Airlines, Inc., the steamship company made a deal to get control of TACA Airways, S.A., shaky Central and South American airline system (TIME, Dec. 31, 1945). As TACA is incorporated in Panama, it is beyond CAB's authority. Yet recently, under the reciprocal rights granted foreign lines, TACA was given the right to operate out of Miami and New Orleans on its routes...
...control of TACA, Waterman 1) bought half the $1,000,000 worth of convertible notes TACA has issued in a new financing program, 2) got an option on two-thirds of the 18.2% stock interest in TACA owned by T.W.A., plus an option on stock held by other interests. Waterman also got an option on TACA's remaining 290,086 shares of authorized but unissued stock. When it has exercised all its options, Waterman will hold.well over 500,000 shares, better than 25% of the company...
Joke or no, Ralph Flanders made no such mistake last week. Result: he carried the farm as well as the city vote (with C.I.O. backing), swept to easy victory over Lawyer Sterry R. Waterman (30,878 to 24,823). This made him almost certain to go to the Senate as the successor to able, scholarly Warren R. Austin, who resigned to become permanent U.S. member of the U.N. Security Council...
...Mobile's Waterman Steamship Corp. bought a ship from the Government in 1931 for $76,320, earned $384,864 in fees, sold it to the Government...
...Wales Latham, descendant of 300 years of New England Yankees, became a Commander in the Order of the British Empire-for wartime Bundling (chief organizer, president) for Britain. Another new member of the Order: Rabbi Stephen Wise's artist wife, Louise Waterman Wise, who headed the women's division of the refugee-harboring American Jewish Congress...