Word: webbe
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Dates: during 1960-1969
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Manhattan's William Zeckendorf, 57, buys properties the way other people buy record albums. The trouble is that Zeckendorf's base of operations, the New York realty firm of Webb & Knapp, Inc., has sometimes been barely a step ahead of its creditors. It seemed a healthy and restraining influence on Zeckendorf's unorthodox dealings when 13 months ago he took on as his partners the London real estate firm of Second Covent Garden Properties Co. Ltd.-in return for $43,750,000 in needed cash and loan guarantees that Second Covent pumped into Zeckendorf...
...Englishman's cup of tea," ebullient Bill Zeckendorf announced Evacuation Day for the hapless British. He acknowledged that his three British representatives, as well as three Americans whom the British had named to the board, had resigned as directors (though the British hold on to their 15% of Webb & Knapp stock). The British had found Zeckendorf impossible to harness or control. Barely controlling his own glee at having shucked off his British advisers, Zeckendorf piously admitted: "They thought that they could reform the old man, and I wish they...
...Webb & Knapp of its bothersome short-term debts, the British had demanded that Zeckendorf sell some of Webb & Knapp's holdings. But Zeckendorf's idea of liquidation differed from his partners': though he sold some holdings, he kept right on buying others (among the purchases: $25 million for Manhattan's Savoy Hilton Hotel). Outraged, the British sent to New York a relay of executives, who camped out in Zeckendorf's Madison Avenue offices to try to halt his acquisitions. But, in his own inimitable way, Zeckendorf confounded the British Expeditionary Force. He made his deals...
...Robert Frost, 88, patriarch poet of the U.S., in Boston's Peter Bent Brigham Hospital after surgery for a urinary tract obstruction complicated by a mild heart attack and a subsequent blood clot in his lung; Clifton Webb, 69, courtly film comedian, in a Houston hospital for vascular surgery; Mrs. William O. Douglas, 45, wife of the Supreme Court Justice, with lacerations of the forehead and left knee sustained in a car-truck collision in Georgetown not far from her home; Hugh Gaitslcell, 56, Britain's Labor Party leader, in a London hospital with pleurisy complicated by pericarditis...
...Alcoa Urban Development Corp., a newly formed subsidiary of mighty Aluminum Co. of America, which wants to do a little diversifying in a way that will also promote the use of aluminum construction. Alcoa gave Zeckendorf Property Corp. (an equal partnership between the British consortium and Zeckendorf's Webb & Knapp Inc.) $10 million in cash, a 90% interest in Alcoa Urban Development Corp., and a note for $25.6 million payable within eleven years...