Business: Cord into Ships

One day last week Errett Lobban Cord, who has grown very rich supplying transportation on land and in air, ventured out upon the sea. He announced that he had added New York Shipbuilding to the lengthening list of Cord companies, most important of which are Auburn Automobile and Aviation Corp. Next day the Navy Department dished out its New Deal contracts and Mr. Cord's shipyard got the biggest slice of all—a $38,450,000 order for two 10,000-ton cruisers and four destroyers (see p. 10). The youngish onetime automobile salesman was at his home...

Want the full story?

Subscribe Now


Get TIME the way you want it

  • One Week Digital Pass — $4.99
  • Monthly Pay-As-You-Go DIGITAL ACCESS$2.99
  • One Year ALL ACCESSJust $30!   Best Deal!
    Print Magazine + Digital Edition + Subscriber-only Content on

Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!