FORTUNE SPEEDSTER.
AMERICAN WALLINGFORD
WASHINGTON, January 18.
The Senate Committee investigating campaign funds stumbled upon what appears to be the most quickly made fortune ever recorded in the United States. Charles Deeds, a Harvard graduate, aged 31, stated that he went into aviation 10 years ago, and bought 200 shares in the Pratt and Whitney Aircraft Company, at 20 cents apiece, totalling 40 dollars ( £8 at par).
Two years later lie received a stock dividend of 16,000 shares. He exchanged this for 34,000 shares in United Aircraft, which at its peak in the 1929 boom had a book value of £1,120,000. For cash he has since sold part of his holdings for nearly £400,000, besides earning £60,000 in salaries and bonuses as a director of the company.
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Auckland Star, Volume LXV, Issue 21, 25 January 1934, Page 7
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127FORTUNE SPEEDSTER. Auckland Star, Volume LXV, Issue 21, 25 January 1934, Page 7
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