Business: Eastern Sold

Only major domestic U. S. airline to make money in 1937 changed hands last week. As planned month and a half ago, Eastern Air Lines, which has no rivals on its runs up & down the Atlantic coast and which made $270,000 last year before tax deductions, was sold by North American Aviation, Inc. to a banking group formed by Eastern's general manager, Captain Edward Vernon Rickenbacker. Elected president of the new company, Eastern Air Lines, Inc., was Eddie Rickenbacker. His backers include Harold S. Vanderbilt and the Wall Street investment firms of Kuhn, Loeb & Co. and Smith, Barney &...

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