Word: whitneys
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Dates: during 1930-1939
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...changes but slowly in many parts of Harvard University. The Visiting Committee appointed this year by the Board of Overseers for the Department of Economics is a case in point. Glancing down the roster of the committee, one finds the names of Wintrhop W. Aldrich, George F. Baker, Richard Whitney, and two lease moguls of the banking fraternity, together with Walter Lippmann and Walter S. Gifford. For a committee of seven members, the Overseers managed to pick one liberal columnist, one president of the American Telephone and Telegraph Company, and five bankers...
...idea of having an emergency business school session which should continue during the summer months was suggested last winter by Walter S. Gifford '04, Jesse I. Straus '93, and George Whitney '07, as a special measure to take care of college graduates who were unable to get jobs because of the current business depression. The administration acted on the suggestion, and the first special session was inaugurated last year which lasted from January 30 to August 16. Seventy five students were enrolled in the course...
...time, the first twelve experimental Wasp and Hornet engines were sputtering and coughing in the Pratt & Whitney shop, Shareholder Deeds had moved to Hartford to become assistant treasurer, later secretary & treasurer and still later vice president. The next two years were banner years for Pratt & Whiney and for Stockholder Deeds's $40 investment. Pratt & Whitney engineers developed the highest-powered air-cooled motor in existence, fitted with split crankshafts (for greater endurance), new type cylinder heads (for greater cooling). Lindbergh's flight across the Atlantic fired a nation-wide interest in aviation-and aviation stocks. The public rushed...
...United Aircraft, formed out of the Boeing Aircraft companies, took Pratt & Whitney over as a subsidiary, giving two and a fraction shares for one. Stockholder Deeds exchanged his 16,000 shares for 34,720 of United Aircraft, then selling for $97 per share. Net value: $3,367,000. United's airmail contracts, plus Pratt & Whitney's prosperous engine business, plus the bull market, pushed the stock up to a peak of $162 in May 1929. Mr. Deeds's $40 became $5,624,000. He liquidated holdings worth $1,600,000, but his remaining stock, at last week...
Vice Chairman Rentschler, brother of National City Bank's President Gordon Sohn Rentschler, had bought $253 worth of Pratt & Whitney stock, ran up a paper profit of $35,000,000, liquidated most of his holdings for $9,514,000. While "Chuck" Deeds's salary and bonus as secretary-treasurer and vice president had been comparatively modest, Vice Chairman Rentschler collected $1,585,544 in six years-the years during which the U. S. Government paid to United Aircraft's subsidiaries a total of $87,564,988 (half of which it got back from the public...