CORPORATIONS: Heirloom Collector

The ranking heirloom collector of U.S. business is a Pittsburgh millionaire named Thomas Mellon Evans. His heirlooms are old, family-owned business enterprises that have fallen on hard times, and his specialty is modernizing them. Last week Tom Evans, chairman of Pittsburgh's H. K. Porter Co., Inc., an industrial combine with assets of $57 million, added another heirloom. He took over as board chairman and chief executive officer of Chicago's Crane Co., the nation's largest manufacturer of valves, fittings and pipes, in a shake-up of 104-year-old Crane's management.

Evans cast his collector's eye on Crane...

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