Word: bendix
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Dates: during 1930-1939
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Kollsman is the name of a shy, German-born inventor who studied mechanical engineering at the technical schools of Stuttgart and Munich, in 1923 emigrated to the U. S., found work as a truck driver's assistant, then as a mechanic for Pioneer Instrument Co., a Bendix subsidiary. By 1928 Paul Kollsman had accumulated $500 and started Kollsman Instrument...
...bought the turreted Potter Palmer house which occupies nearly a block on Chicago's Lake Shore Drive, hung it with Rembrandts and Christys (Howard Chandler), dubbed it the Bendix Galleries and lost it after paying $1,250,000 on its $3,000,000 purchase price...
Last week three Chicago holders of one of these issues (for $1,400,000) filed a petition against Ben Bendix in South Bend, Ind. (home of Bendix Aviation Corp.) asserting that his debts amounted to $3,000,000, his assets about $500,000. Said Bendix, sadly: "This is the biggest blow of my life...
Meanwhile, Bendix, recently re-elected president of Bendix Aviation Corp., which "last year netted $156,047, is looking forward to a better showing this year with things booming in the flying business. Of its stockholders, General Motors is the largest, holds 23.8% of its shares. What Ben Bendix's holdings amount to, the three plaintiffs hope to find out. Most of his friends, who are used to seeing him find a way out of difficulties, still doubted that Bendix would have to go through bankruptcy...
...still heads the companies that sell the world these many devices ought to be a multimillionaire, but last week three creditors filed suit to put him in bankruptcy. For, outside of manufacturing, Ben Bendix, now 58, has had reverses since 1929. Among them...