Business & Finance: Skimp & Splurge Service

Frank Masterson, 28, an ambitious Chicagoan who entered his father's contracting firm few years ago, soon tired of that job, wanted a business of his own. In December a Marshall Field & Co. advertisement of traveling bags piqued his curiosity; he found that plenty of people came to look, few to buy. Luggage, he decided, was too expensive to sell readily. He wondered why no one had thought of renting it. Visiting railroad and airline offices, steamship and travel bureaus, he planted an idea: if vacationists could skimp on luggage, perhaps they would splurge...

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