FORTUNE RAPIDLY MADE
I HARVARD GRADUATE AVIATOR. Washington, Jan. 19. The Senate’s Committee which is investigating the campaign funds question 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' each, the cost totalling 40 dollars. Two years later he 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 Deeds has since sold part of his holdings for nearly £400,000, besides earning £60,000 in salary and bonuses as a director of the company.
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Taranaki Daily News, 29 January 1934, Page 7
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133FORTUNE RAPIDLY MADE Taranaki Daily News, 29 January 1934, Page 7
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