Word: webbs
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Dates: during 1960-1969
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...Pocket. Zeckendorf's firm of Webb & Knapp has holes in the ground and buildings under construction all over the U.S. and Canada, was carrying short-term debts of something like $100 million -some at interest rates as high as 20%. With no money to spare from company coffers to build his hotel, Zeckendorf had to find the financing elsewhere. He got off to a typically dazzling Zeckendorf start. He borrowed $16.5 million from a bank to buy the land. Then he turned around and sold the land to the Prudential Insurance Co., leased it back from them. Prudential would...
ZECKENDORF'S Webb & Knapp has dropped plan to buy 20th Century-Fox's 267-acre movie lot in Los Angeles and develop it into $500 million "Century City," needs its cash for other developments. Kratter Corp., New York realty investment company, will pay $43 million cash for the property, build middle-income housing and shopping centers. Webb & Knapp still plans a 950-room hotel...
...JOHN L. WEBB JR. Lake Wales...
Time Exposure. In Memphis, Maud Webb, 63, won a divorce from West A. Webb, 66, father of her 18 children, after testifying that he had "harassed" her for 20 years...
...holding company, Alleghany Corp. controls a stock empire whose assets include 20% and working control of the giant New York Central Railroad, 50% of Missouri Pacific Class B stock. 18% of Webb & Knapp real estate firm, plus 24% of the voting stock in Investors Diversified Services, an investment trust worth close to $3 billion. All told, Alleghany's assets amount to $134 million, and they are enough to give any group of managers all the leverage they need to wheel and deal. But last week Alleghany's wheeler-dealers were laid low by a small stockholder...