Word: websters
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...Stone & Webster got into utility operating (as distinct from plant construction) indirectly through the panic of 1893. During this panic there was a general collapse in the stocks of public utility companies. Holders of utility stocks were approached by astute J. P. Morgan, who bought the apparently sinking ships for about one-third of their original values...
Then he hired Stone & Webster to look over the properties acquired and report on their position and prospects. When Stone & Webster had completed their survey, Mr. Morgan offered them the Cumberland Light & Power Co. for the bargain price of $60,000. Borrowing the money, the partners bought the company, sold it some years later for $500,000. It was the profit on this operation that established Stone & Webster as a company of national scope...
...lives during the winter on Fifth Avenue, Manhattan; during the summer at Locust Valley, L. I. He is a tall, spare man with hair that has turned almost white except for a black border along the neck. When he speaks of the company's activities, he invariably says, "Mr. Webster and I" or "Stone & Webster," never uses the first person pronoun alone. He likes yachting and tennis, but his chief avocation is breeding horses on his stock farms in Virginia and New Hampshire...
When the present Stone & Webster retire...
...Stone is 62, Mr. Webster 61), there will be a junior Stone and a junior Webster to take their places. For among the directors of the new corporation will be Whitney Stone (Harvard, 1930) and Edwin Sibley Webster Jr. (Harvard, 1923) who is also a Stone & Webster Vice President under the new incorporation...