CORPORATIONS: New Transfusion

When Westchester County Banker Charles E. Stahl and Ohio's Michael Di Salle, onetime U.S. Director of Price Stabilization, bought into U.S. Hoffman Machinery Corp. last month (TIME, April 15), the company sorely needed a transfusion. New President Stahl and Executive Committee Chairman Di Salle hoped to gain working control of the company by buying the 224,938 shares of stock held by President Hyman Marcus, who moved up to become board chairman. They also hoped to raise $2,000,000 to refinance the shaky corporate empire (23 subsidiaries manufacturing everything from candy to tin cans). But the team raised only enough to...

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