Word: transported
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...Boeing started up a School of Aeronautics in Oakland, Calif. A year later it changed its name to United Aircraft & Transport Corp., in rapid succession bought up Pratt & Whitney, Chance Vought, Sikorsky Aviation, Northrup, and five smaller companies. Two years after that, United Air Lines was formed to tie together the combine's booming air-transport business. Phil Johnson moved to Chicago to head United Air Lines, soon turned over the reins of the Boeing division to Designer Egtvedt. Other young men hurried to Seattle as Boeing's name spread-Edward Wells arrived...
...youngsters worked on a family of exciting new transports. In 1933 Boeing put out its 247, the country's first twin-engined, all-metal transport that could keep its altitude with a full load on one engine. Boeing also put in such advances as trim tabs, supercharged engines and an automatic pilot, built 55 of the 247s for its United Air Lines sister subsidiary...
Five years later, Boeing's team of Egtvedt, Beall and Wells flew its famed 74-passenger 314 flying boat (the "Clipper"), designed for the first regular transatlantic runs. Then they built another four-engined airliner, the "Stratoliner," the first transport with a pressurized cabin for high-altitude travel. Boeing built 22 Stratoliners and 314s. But the planes, expensive to operate, and complicated challenges to airline maintenance crews, did not sell in quantity. Boeing lost a total of $4,500,000 on its twin giants and found itself in financial trouble...
...Washington in 1934, a congressional committee began poking into Government airmail contracts, investigating charges that carriers were making exorbitant profits, that airline officers had run investments of a few thousands into millions. Boeing hotly denied the charges, said that it had started flying the air mail as the only transport company on its route, soon had two competitors. Nonetheless, the Roosevelt Administration abruptly canceled all airmail contracts; four months later Congress passed the Air Mail Act of 1934, forbidding any financial link between an airmail transport line and a manufacturer. In the meantime, the Army Air Corps was ordered...
...great airmail purge was a disaster for Boeing. Under the law, United Aircraft & Transport had to split into three independent companies-United Air Lines, United Aircraft Corp.,† to make propellers, engines and planes, and Boeing Airplane Co. Says Allen: "We came out of it with less than $1,000,000 in liquid assets. We were still building the rest of an order for 136 P-26s for the Army, but that was it." Bill Boeing disgustedly sold out his interests and retired. Phil Johnson, who by then was head of the parent United Aircraft & Transport organization, was "exiled" from...