Word: corps
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Dates: during 1940-1949
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When he grew more wheat or collected more eggs than the public would buy at his price, the Government's Commodity Credit Corp. bailed him out. That was all right during the war, when CCC, with $4,750,000,000 to draw on, could sell whatever it bought. Even as late as June 1948, CCC had laid out a mere $294 million. But in the 16 months since, CCC purchases-to keep the farmer's income up-had increased fantastically. Last week CCC President Ralph S. Trigg announced that CCC had tied up more than $3 billion...
...price-support program (see NATIONAL AFFAIRS) was on view last week. It consisted of 4,000 tons of cottonseed, piled high on the concrete tennis courts of a former naval air station in Oklahoma City. Bought and paid for by the U.S. taxpayer (through the Commodity Credit Corp.), the cottonseed seemed destined for the same fate as the mountains of potatoes, eggs and other commodities which the Government in the past has bought...
...Instead, for $300,000, he bought control of the Roosevelt, which bustles with salesmen and is as different from the Town House as Coney Island is from Beverly Hills. The Roosevelt deal established Hilton in New York and got him the backing he wanted from such moneybags as Atlas Corp.'s Floyd Odium. With the help of Odium, Hilton paid out $7,400,000 for New York's stately old Plaza, which was as deeply encrusted with stately tradition as it was with the grime of years. The Plaza's first guest...
...still seems a little amazed at the speed of his climb. While talking to an acquaintance some weeks ago, Hilton answered the phone, listened for a moment, then crowed with delight: "I just made half a million today." He bubbled out an explanation that the stock of Hilton Hotels Corp., of which he owns 400,-ooo shares or 26%, had risen five-eights of a point, giving him the paper profit. Then he soberly corrected himself: "No, it was just about $250,000 at that...
Dark Days. It was worth all the trouble; the Dallas Hilton was a whopping success. Hilton branched out throughout Texas and formed Hilton Hotels, Inc. (succeeded in 1946 by Hilton Hotels Corp.). When the depression hit, and an estimated 80% of all U.S. hotels went bankrupt, he was far overexpanded. He hurried from hotel to hotel, yanking out the room telephones and closing off some of the floors to cut costs. When a guest asked for ink, a bellhop would ceremoniously pour out enough to write one letter...