Word: sweringens
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When slim, silent John Galbreath heard that Railroader Robert R. Young and others wanted to sell most of Cleveland's 35-acre Terminal building group, success still beckoned. Built by. the buccaneering Van Sweringen brothers for $100 million in the 19203, the Terminal group had collapsed with the rest of the brothers' empire, and had been picked up by Young for peanuts, and recently have been good moneymakers...
...with a net income (before taxes) of about $2,250,000 a year. For Bob Young, who needed the cash badly for his money-losing Eagle Lion movie company, the transaction was an even better deal. The Terminal buildings were only a small part of the vast Van Sweringen empire. Young had bought the whole empire for only...
...Alleghany. Popular champion that he was, Bob Young also had his hands on a greater potential monopoly than any other railroader. He got his hands on it when he bought control of Alleghany Corp. in 1937. This fantastic financial Humpty Dumpty, put together by Cleveland's famed Van Sweringen brothers, O.P. and M.J., was one of the worst examples of giddy railroad financing of the '20s. After it crashed in 1932, no one thought it could ever be put together again...
...lake shipping tycoons. In its formative era men of such wealth had largely held the reins of power over Cleveland's development. In more recent years, up to depression, the town had been greatly shaped to the mould of the late Oris P. and Mantis J. Van Sweringen, whose Terminal Tower remains to dominate Cleveland's skyline...
Last week Robert Young was no longer despondent. In the intervening years of recession and war he had copper-riveted his hold on the old Van Sweringen empire -with the help of $3 million from an old friend and Woolworth heir, shy, tweedy Allan Price Kirby. Now he was ready to consolidate the empire, to make it the base from which he hoped to realize an old Van Sweringen dream-a single transcontinental railroad...