Word: heidt
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Dates: during 1940-1949
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Until a year ago, Horace Murray Heidt was known chiefly as an amiable, nice-looking bandleader whose Pot o'Gold had started the rash of radio giveaway programs. Then he tangled with Jules Caesar Stein's Music Corp. of America, which controls a glittering array of movie and radio talent as tightly as James Caesar Petrillo controls his musicians. As agent for Heidt, Jules Stein was not content to collect only 10% of Heidt's musical earnings; he wanted a cut of all Heidt's earnings. Heidt refused and was forced to quit the music business...
...last week, thanks partly to hardhearted Mr. Stein, Horace Heidt was one of the West Coast's skyrocketing businessmen. His latest deal: a lot he had bought for $36,000 three years ago was sold...
...Heidt can hardly read music, plays no instrument well. He became a bandleader for a businesslike reason: to make money. He stuck strictly to his musical last until 1941, when he began buying likely bits of property. The big break came two years later. Heidt guessed that a profitable urban Los Angeles ballroom, the Trianon, could be bought by catching the owner off guard with enough ready cash...
...Fast Way. Heidt sold his annuities, put $200,000 in thousand-dollar bills in his pocket, called on the owner, a onetime gambler named Jimmy Contratto...
...Contratto," said Heidt. "have you ever thought of selling this place...