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...Private Osborne had no knife. Then another plane flew up, maneuvered above Osborne while an officer lowered a sandbag to which a knife was tied. After a half-hour's effort, Osborne caught the knife, freed himself, opened his second 'chute and landed safely in a corn field. There his irate instructors found him, angrily informed him he must repeat the parachute course...

Author: /time Magazine | Title: Aeronautics: Flunked | 6/15/1931 | See Source »

George Monroe Moffett was made president of Corn Products Refining Co,, succeeding the late Edward Thomas Bedford (TIME, June 1). George Monroe Moffett was previously Corn Products' vice president. He is a director of Chase National Bank and many industrial companies...

Author: /time Magazine | Title: Business & Finance: Personnel: Jun. 8, 1931 | 6/8/1931 | See Source »

...Government sued Corn Products Refining and the company discreetly sold its interest in Penick & Ford back to the original owners, who sold what amounted to one-third of the company to Frederick Thomas Bedford, who thereupon left the paternal fold to strike out for himself. Ten years younger than Messrs. Penick & Ford, Son Bedford assumed large duties. In 1927 he was made president of the company. Although Penick & Ford was almost wrecked by the depression of 1921, 1930 saw its profits at $1,811,348 against 1929's $1,882,441. It is the country's third largest...

Author: /time Magazine | Title: Business: Father & Son | 6/1/1931 | See Source »

...Corn Products Refining is a far greater company than Penick & Ford. Last year it earned $14,067,000 against $16,309,000 in 1929. Its total assets come to $127,393,000 against Penick & Ford's $14,097,000. Some 9,000 people own its common stock. Corn Product's best known brands include Argo starch, Mazola oil, Karo syrup, Linit starch, Cerelose sugar, Kremel pudding powder. Since Father Bedford was believed to be one of its largest shareholders, Son Bedford may find himself in the strange position of having a more valuable investment in Corn Products than...

Author: /time Magazine | Title: Business: Father & Son | 6/1/1931 | See Source »

...played poker. Every winter F. T. Bedford would spend a month or so with his father at Lake Wales, Fla. Each admired the other. But years ago they made a rule never to discuss business together. The rule was very seldom broken even to mention such important matters as Corn Products' patent infringement suit against Penick & Ford, or Penick & Ford's patent infringement suit against Corn Products...

Author: /time Magazine | Title: Business: Father & Son | 6/1/1931 | See Source »

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