Word: new
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Dates: during 1920-1929
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...McMasters University, also to Denison University (Ohio), and is a University of Chicago trustee. On a visit to his home town of Pugwash he disliked the hotel accommodations, so undertook a campaign of municipal improvement which included the straightening of Main Street, a park, and a new hotel. Shortly after these improvements, the whole town was practically destroyed in a fire, and had to be largely rebuilt, again with Mr. Eaton's assistance. Mr. Eaton never drinks, seldom smokes, spends much time at home with his art-loving wife and seven children (five girls). A hobby: Reading character from...
...Fourth largest of New York banks is Equitable Trust Co. with resources of $953,000,000. Last fortnight its president. Chellis A. Austin died (TIME, Dec. 23). Last week Lawyer Winthrop Williams Aldrich was elected to succeed him. A yacht-goer, Lawyer Aldrich is 44, also a director of Bankers Trust Co. While he has been legal advisor to Equitable for ten years, most famed of his legal activities was to handle John Davison Rockefeller Jr.'s ousting of Oilman Robert Wright Stewart from Standard Oil of Indiana. After his election, Mr. Aldrich frankly conceded he came to Equitable...
Merger. There is many a venerable bank which only after years of business considers a merger. But last week directors of Underwriters Trust Co. of New York, three weeks old, admitted they were already discussing a merger with the two-year-old Sixth Avenue Bank...
Best argument for a pool wishing to move a stock up is talk of "secret processes and patents." Last February the International Combustion Engineering Corp., world's leading manufacturer of boilers, automatic stokers, ash handlers and power plant devices, opened a new plant at New Brunswick, N. J. Function of this plant was to use a newly acquired foreign patent for the distillation of coal, rendering from the fuel valuable gas byproducts, light oil, and a powdered semi-coke for use in steam power plants...
...Combustion, through 37 subsidiary companies, had earned some $3,000,000. Tremendous were the earnings predicted from the new process. In April rights to $100 7% preferred stock were offered. At the time the common stock was selling at about 76, had been to 103, was touted to go to 500 under the management of a capable pool said to be directed by shrewd Speculator William Crapo Durant...