Business & Finance: Boss of the Empire

A year ago Chicago's Henry R. Crown, who runs the biggest U.S. building-supply firm and finds time to promote big deals on the side, got interested in buying the Empire State Building. Reluctantly, he decided it was "too rich for my blood." But he kept a watchful eye as Detroit Real-Estate Man Roger L. Stevens made a deal six months later (TIME, June 4) to buy the building from the estate of John J. Raskob for $51 million, paying $13,500,000 in cash.

Three weeks ago it looked as if the deal would fall through: Stevens...

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!