HIGH FINANCE: Springtime for Henry

After 3^ years and more than 3,200 pages of court testimony, Henry J. Kaiser finally laid an old enemy low. He won his breach of contract suit against Otis & Co., Financier Cyrus Eaton's Cleveland underwriting firm. In 1948, Otis & Co. signed up to help float 675,000 shares of Kaiser-Frazer stock at $11.50 a share; under the contract, the underwriters could bail out if anyone should try to block the stock issue in court. At the last minute Eaton bailed out, using as an excuse a suit against K-F to prevent the stock issue on grounds that Kaiser...

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