Word: nat
(lookup in dictionary)
(lookup stats)
Dates: during 1930-1939
Sort By: most recent first
(reverse)
United's Frederick Brant Rentschler became president and board chairman of NAT, supplanting Earle Reynolds and Howard E. Coffin. Other old-guard directors surrendered their chairs to United...
Rebuffed, United canvassed individual NAT stockholders for their proxies to support its exchange offer. Bitterness was intensified when United obtained the holdings of certain of the NAT personnel. Quick to retaliate, Curtiss-Keys launched a counter-offensive for proxies...
...stockholders meeting was a warm event. United sent its Directors Joseph Ripley (National City Bank) and Frederick W. Jackson (lawyer), their pockets presumably stuffed with proxies with which to oust the NAT management. But no one save Messrs. Ripley and Jackson knew what portion of the 650,000 outstanding shares they held, for they voted only one qualifying share each...
Perhaps aware of their opponents' strength, the United men began by claiming a quorum was not represented in the meeting. NAT countered with the statement that its board had but recently amended the by-laws to reduce the quorum to one-third of the voting stock, which they held. Over the violent protest of United's delegates, the meeting proceeded and a strong Curtiss-Keys directorate was reinstalled with minor changes...
Bitter were the recriminations that followed. Said Board Chairman Howard E. Coffin of NAT: "Stockholders stood overwhelming by the present management and voted 521,000 shares for retention . . . despite the unfriendly efforts of United to gain control for its selfish interest...