A prime example of how a raider loots a company was spread on the record in the U.S. District Court in St. Louis last week. The raider: Sydney Albert, 49, who in the past two years, through a jumble of fantastic stock swaps, stitched together 70 companies into the Bellanca Corp., then saw most of it crash last June (TIME, June 25). The victim: St.Louis' venerable N. O. Nelson Co., a large plumbing-supply house. Only last autumn Nelson had twelve-month earnings of some $200,000, plus $500,000 in cash surplus, more than $2,000,000 in accounts receivable, $5,000,000 in inventory....
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