Word: optional
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Dates: during 1930-1939
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...collateral pledged by the Van Sweringens for defaulted loans from a J. P. Morgan & Co. banking group, setting up a concern called Midamerica Corp. as a new super-holding company for the Van Sweringens. What the Brothers Van Sweringen got was a 10-year option on a controlling block of Midamerica common stock, together with the right to vote it in the meantime...
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...
...director. He set a lawyer to work to right his alleged wrongs. In ordinary corporate practice the argument that a company may not vote its own stock is watertight. In the Ayer case there is certainly room for legal debate because the question involves the exercise of an option under an agreement in which the corporation is now interested as a stockholder, not a stock issuer. To settle the question Adman Thornley announced last week that he had filed suit in the Philadelphia Court of Common Pleas...
Snapped President Batten in a public counterattack: "In today's newspapers appears a statement purporting to emanate from George H. Thornley, formerly a vice president of N. W. Ayer & Son, Inc., to the effect that he has exercised an option to acquire stock control of this corporation. . . . Since he is seeking to establish this contention over the opposition of all parties concerned by litigation, the officers of the corporation are opposed to any attempt to try the case in the newspapers...
...have the option, in the case of families who need actual subsistence, of putting them on the dole or putting them to work. They do not want to go on the dole, and they are 1,000 per cent right. We agree, therefore, that we must put them to work-work for a decent wage...