CORPORATIONS: Traveling Man

Walter E. Schott, 50, is a Cincinnati businessman who likes to collect companies. Fortnight ago he called reporters and announced: "We've just bought the Bunell Machine & Tool Co. of Cleveland for $1,750,000." Next day Schott called reporters again. This time he had paid $1,000,000 for the Novo Engine Co. of Lansing, Mich. This week, Schott's speculative eye was already on a new prospect. By such hustling and sharp buying, Schott has put together a family holding company with enterprises worth an estimated $20 million and controlling some 26 companies spread over...

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