The Rosenbaums (Rosenbaum Brothers, Rosenbaum Grain Co.) established their position as great grain storers by forming the Chicago Elevator Properties, Inc., in Chicago last week. That new company will own and operate seven grain elevators and operate two additional leased ones in the Chicago district, acquired from Armour Grain Corp. in settlement of
Armour Grain's frauds (TIME, May 23 et ante).
The nine granaries have a storage capacity of 17,000,000 bushels and represent 46% of the total grain storage space in the neighborhood of Chicago.
Because the new company is a subsidiary of Rosenbaum...
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