Word: zeckendorfs
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...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...
...present, Sennott noted that he knew of no other groups interested in the MTA car barns site. In the past, there has been speculation that such outside investors as Webb and Knapp (William Zeckendorf) were negotiating to purchase the land...
...ZECKENDORF EMPIRE has been cut back by $90 million. Bill Zeckendorf, president of Webb & Knapp, big U.S. real estate firm, sold off that much property this year to get cash to rescue beleaguered Freedomland and to help finance multimillion-dollar developments in Los Angeles and Montreal...