Word: bidders
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...first place in line." But it was really more than that. Schine can now do one of three things: 1) acquire full ownership by paying bondholders off outright; 2) sit tight and wait for profits to wipe out the bonds; 3) sell certificates of his holdings to a higher bidder. Few people who know Schine expect him to sell...
...bidder, Dallas Gasman J. W. Crotty, who had bid $127,500,000, saw more than WAA blundering in all this. Well aware of the lobbying by railroads, coal operators and John L. Lewis' own U.M.W. to prevent the lines from being used at all, Crotty charged that WAA had prevented conversion "for no cogent" but for some "sinister or political" reason...
Adolf Hitler's prewar luxury yacht, the 375-ft. Grille, kicked up a bidding war among Britons who saw it as a money-making attraction. One bidder thought he had nabbed it for only $306,660; but the Admiralty said the end was not yet. Higher bids were in sight...
...would spend another $43,500,000 to give Geneva facilities for peacetime steel products, put Geneva in the front rank of steel producers. But U.S. Steel added a slight "if" to its bid: there would have to be reductions in Western rail rates on steel. Said Big Steel: "Any bidder on Geneva Steel sees a need for reduction in freight rates from Geneva to the Coast. The economic future of the plant rests on these reductions...
Colorado Fuel & Iron Corp., second best bidder, proposed to lease the plant with an option to buy, pay the Government rent of $2 for every ton of steel manufactured. Colorado Fuel also proposed to spend up to $47 million for added facilities, pay not less than $80,000,000 if the purchase option is exercised...