Word: zeckendorfs
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Dates: during 1960-1969
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...somehow spotted a few members of the smart set slumming there one night. No sooner did Cholly break the news in his gossip column than the Peppermint Lounge became an instant fad. The Duke and Duchess of Bedford showed up. So did Porfirio and Odile Rubirosa, and Bill Zeckendorf Jr. and Judy Garland and the Bruno Pagliais (Merle Oberon), and Billy Rose, and Tennessee Williams, and William Inge. The word shot quickly over the mink-line to the Stork's Cub Room, El Morocco and the Harwyn Club. Inside of just a few weeks, virtually everybody who is anybody...
...home, e.g., desk clerks wear evening clothes after 6 p.m., coffee is ground just before brewing. Shrewd Businesswoman Sharp (who took over Sharp Ltd. Hotels on the death of her husband in 1941) last week sold the Gotham, the Stanhope and California's Beverly Wilshire to William Zeckendorf's Webb & Knapp for $25 million. As replacements, Mrs. Sharp plans to put up in Manhattan and Beverly Hills a pair of new luxury hotels, as posh as ever but with modern details, such as refrigerators disguised as antiques...
...Zeckendorf Formula. From the start, Murdock consciously modeled his business and tax techniques on those of Manhattan's high-flying William Zeckendorf (who has had less success with them lately than Murdock). Invariably retain ing ownership of the structures he built. Murdock took advantage of the 1954 change in the Internal Revenue Code permitting accelerated depreciation on buildings. He multiplied his holdings by borrowing against the income from leases and the capital appreciation of the property. Hardly had construction begun on the $6,500,000 Guaranty Bank Building in 1959 when Murdock smelled the possibility of a new killing...
Moving Time. Alleghany is a rich prize. Besides its I.D.S. stock, Alleghany owns 50,000 shares of Transamerica Corp., a West Coast insurance holding company, and $20 million of notes in Bill Zeckendorf's Webb & Knapp real estate company. But its biggest holdings are in railroads: it controls the New York Central, owns more than 50% of the class B stock of the Missouri-Pacific, and holds, in conjunction with the Central, 20% of the Baltimore & Ohio's common stock. In all, Alleghany controls companies with assets of about $6.7 billion...
Another plan that should be under way soon is a blue-sky dream of William Zeckendorf's Webb & Knapp Inc.-made practical by cheap power from Bonneville Dam and Stratmat's smelting process-to retrieve iron, copper and zinc from waste copper slag cast off by copper companies. A Webb & Knapp subsidiary, in which Stratmat is to have a minority interest, plans to build a mill in Montana and buy slag from Anaconda Co. at 25? a ton. The slag heap contains iron, copper and zinc ores worth an estimated $1.4 billion. Zeckendorf even hopes to sell...