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...members of last week's purchasing group, he will presumably get back his Central States shares and Mr. Odium will be pretty well out of North American. But chief reason for sale of Blue Ridge was the large profit returned on the investment. Lehman Bros. The banking house of Lehman Bros, dates from 1850, when Brothers Mayer and Emanuel Lehman, emigrating from Germany, started a cotton commission business in Montgomery, Ala. The Civil War ruined the cotton business; in 1867 the brothers moved to New York. They helped form the Cotton Exchange, floated bonds for traction and ferry companies...
...Sarnoff, short, round-faced head of Radio Corp. said, in effect, to his troublesome corporate offspring: "Go and never darken my door again." But the orphan was not put out into any storm. Waiting to receive it was Floyd Bostwick Odium's Atlas Corp. which, together with Lehman Bros., Manhattan banking house, bought an unspecified portion of RCA's holdings in RKO stocks and debentures. What Atlas and Lehman paid for their purchase was equally unstated but, inasmuch as the deal carried an option to buy whatever RKO securities Radio Corp. may still hold, the transaction may result...
Page Miss Glory. (Warner Bros.) On Broadway last winter this slight, satiric comedy on the lunacies of the beauty contest and advertising testimonial rackets enjoyed a modest success (TIME, Dec. 10). Eyebrows went up, however, when Warner Brothers paid $72,500, highest price in years, for the stage scripts as the first vehicle for Marion Davies under their management...
Bloomingdale Bros...
...honor of running (he biggest woolen company in the U. S. Mr. Warner, an expert on merchandising and style promotion, had a good salary and plenty of honor as president of McCall Corp. Mr. Noah was said to be getting $50,000 as vice president of Gimbel Bros., Philadelphia. The thing that clinched their bargain with American Woolen was the right to collect a bonus of from 22% to 6% of all net profits over $2,000,000. This request the company was delighted to grant. It had lost so much money in the preceding three years that the stockholders...