Word: murchison
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...mysteries surrounding the fight for the New York Central Railroad is: Who owns the 800,000 shares of Central stock supposedly sold by the Chesapeake & Ohio railroad to Robert R. Young's Texas friends, Clint Murchison and Sid Richardson? The Texans say that they bought the stock for $20 million, but New York Central President William White charges that they are not the real owners, says they put up no money of their own. As a result, the Central this week refused to transfer the stock until it got the "proper papers...
Under the terms of the agreement by which the stock was taken out of trusteeship in the Chase National Bank, the shares had to be sold to buyers with no direct or indirect affiliation with Alleghany Corp. And the Central suspected that Murchison and Richardson had been able to buy the stock only with Alleghany's help...
Bazy also tried another tack. She called a long list of potential backers, including such conservative millionaires as Sears, Roebuck's Chairman General Robert Wood, ex-Ambassador to England Joseph Kennedy, and Texas Oilmen H. L. Hunt, Sid Richardson, Hugh Roy Cullen and Clint Murchison. Before her 45 hours were up, she had pledges for about $4,000,000, but when she asked the colonel for time to raise more, he said "No, no, no." The colonel was determined to sell to Meyer because he respected him as a professional newspaperman. The colonel did not want to sell...
...asked for a compromise? The Central, snapped Young. But Central President White snapped back that Clint Murchison made the offer. The compromise was for a new board of directors with six for the present Central management and eight for Bob Young's faction, plus Young as board chairman. But both the Central and Railroader Young turned it down. Back in Texas, Murchison said: "I was the one who suggested the meeting. I suggested it with the idea that any kind of a compromise is better than a bloody fight. And I thought we had Mr. Young in line...
...Then Murchison cleared up another question that had been hanging fire for weeks. Did he and Sid Richardson actually own the 800,000 shares of New York Central stock they were supposed to have bought from the Chesapeake & Ohio railroad? Central President William White flatly announced that they did not. Said Murchison: He and Richardson came into actual possession of the stock this week, and "we're going to vote it for Young...