Word: odium
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Ever since Floyd Bostwick Odium's Atlas Corp. jumped into the tangled affairs of Utilities Power & Light Corp. in 1935. an air of electricity has hung about everything connected with the $400,000,000 holding company and its pyramiding promoter, Harley Lyman Clarke. Since last autumn, when Promoter Clarke was edged out of the U. P. & L. presidency, the charges and counter-charges have mounted to high-tension voltage. Last week came the first legal payoff in the whole business. In Chicago, Federal Judge William Henry Holly approved a voluntary petition from the company for a 77B reorganization, issued...
...foggy night five years ago, Brigadier-General Victor Wentworth Odium, C.B., C.M.G., D.S.O., walked into the city room of his Vancouver Star, regretfully told the staff that publication was suspended. Reason: with two well-in-trenched evening dailies in the field (population 246,593), a morning paper in Vancouver seemed an economic impossibility. After the General had gone, a group of his ex-employes went into a huddle, decided to carry on anyhow with a cooperative paper. Forty strong they combed Vancouver for funds, credit, advertising, circulation. Resulting enterprise was christened the News-Herald. It started life with...
Sued. Utilitarian Harley Lyman Clarke, 55; by Utilities Power & Light Corp., mammoth Chicago holding company whose presidency he resigned Oct. 29 ostensibly under pressure from Floyd B. Odium's Atlas Corp. which has bought control; for alleged misappropriation of $3,000,000; in "hicago. Utilitarian Clarke, still a P. & L. director, previously sought to intervene in P. & L. reorganization proceedings, charging Atlas Corp. with juggling its stock...
Chapter 6. By the summer of 1935, however, Radio was ready to wash its hands of an unhappy stepchild. In the autumn Floyd Bostwick Odium's Atlas Corp., biggest U. S. investment trust, paid Radio $5,000,000 for half of its interest in RKO, with an option on the rest to be exercised before the end of 1937. Joining Atlas in the purchase was Lehman Bros., interested in Keith-Albee-Orpheum Corp...
from earlier days. Mr. Odium put in as RKO's president Lawyer Leo Spitz of Chicago, who had been counsel for the old Lubliner & Trinz theatre chain there, later with Balaban & Katz and finally with Paramount. Radio's Sarnoff resigned as chairman of RKO and NBC's Aylesworth was moved upstairs. RKO finished 1935 with $684,733, its first profit since...