Brunswick-Balke-Collender Co., which has diversified from bowling into school and sports equipment, has been looking for a boatbuilder. It lost out on Chris-Craft Corp., the nation's largest motorboat maker, to NAFI Corp., which is controlled by Wall Street's Shields & Co. (TIME, Feb. 15). After helping to close the Chris-Craft deal, famed Yachtsman Cornelius ("Corny") Shields Sr., a Shields & Co. partner, pondered a way to see Brunswick into the boat business. As a director of the Owens Yacht Co., the nation's No. 2 builder of pleasure crafts (1959 sales: $15.3 million),...
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