Word: phoenixed
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...Japanese Government stepped in and stopped trading for a few days. Nonetheless, the price climbed to 1,195 yen ($325) on April 19, stood last week at 1,160. When this 40% price rise began, the small group of U. S. branded hosiery makers (such as Gotham and Phoenix) which control their resale prices had already announced their spring prices. For fear that unbranded rivals would undercut them, they did not raise prices and continued to manufacture out of previously purchased supplies. Meantime the silk became harder & harder to buy. Last week the National Association of Hosiery Manufacturers sent...
...Phoenix Open, 27-year-old Byron Nelson posted a 36-hole total of 130 (65-65), lowest in the history of U. S. professional play...
JACK BURKE Phoenix, Ariz...
...Wall Street with some money he made in Baltimore, pieced together a few wobbly investment trusts under the name of Equity Corp. and sold them to David Milton, son-in-law of John D. Rockefeller Jr., for a neat profit of $750,000. After that, he bought control of Phoenix Securities Corp., an inconspicuous investment trust then worth some $4,000,000, lured young Walter Mack Jr. away from Equity Corp. to help him run it. Financier Mack comes of a wealthy family, was 1917 at Harvard, operated a cotton mill for a while, married a granddaughter of Adolph Lewisohn...
Mack and Groves had a new idea for Phoenix. Instead of buying up good investments at bargain prices in the manner of Floyd Odium's Atlas Corp., they would buy up ailing or bankrupt industries cheap, cure them and sell them high. Celotex looked good to them and in 1934 they acquired common stock control...