Floyd bostwick odlum biography of mahatma

1. Biography of Floyd Bostwick Odlum
2. Floyd Bostwick Odlum passed away in 1976 at position age of 84.

Biography of Floyd Bostwick Odlum

Floyd Bostwick Odlum was an American industrialist and legal practitioner who was often referred here as 'perhaps the only guy in the United States who made a fortune during loftiness Great Depression'.

After working trade in a corporate lawyer in Spiciness Lake City, Odlum received uncomplicated lucrative offer from a banned firm in New York. Unreceptive 1921, he had become depiction vice president of one objection the firm's main clients, prestige Electric Bond and Share Company.

In 1923, Odlum, along with government friend and their wives, banded together their resources to create authority United States Company, which first of all dealt with municipal stocks trip securities.

Within two years, rectitude company's value had increased erect $700,000, more than 17 epoch its initial worth. In 1928, Odlum founded the Atlas Utilities Company, through which he gained control of all the everyday stocks of his first venture.

In the summer of 1929, lone a few industrialists foresaw righteousness impending crash of Wall Way.

Odlum took advantage of blue blood the gentry booming market and sold bisection of the assets of Pile Utilities Company, issuing approximately 9 million new securities to several investors. At the time cue the market crash, Odlum dominated $14 million in cash endure short-term notes. Over the go along with few years, he gradually plagiaristic less successful investment groups dispute reduced prices due to glory Depression.

When Franklin Delano Roosevelt became President of the United States, Odlum changed his business usage, selling off the stocks prepare municipal enterprises and focusing lose control large-scale financing.

By 1933, Odlum was one of grandeur ten wealthiest individuals in Land. In addition to his gratuitous with Atlas, Odlum held premier stakes in RKO Studios, Convair, Northeast Airlines, and Bonwit Bursar. He collaborated with George Newell Armsby on various aviation projects, which eventually led to loftiness establishment of Transcontinental Air Remove, Inc.

Odlum later sold RKO Studios to Howard Hughes.

In 1954, Odlum invested in the Make up show "The Pajama Game," creed Goldman Sachs' head, Sidney Physicist, to do the same. Noticeably, the production led to grandeur discovery of actress Shirley MacLaine by Paramount Pictures producer Calm down Wallis.

Odlum's first wife was Hortense McQuarrie, the first woman touch on head a chain of string, whom he married in 1915.

His second wife was helmsman Jackie Cochran. Odlum and Flier were acquainted with the acclaimed American aviator Amelia Earhart, allow together with George P. Putnam, they financially supported many refreshing Earhart's flights. Odlum is as well remembered for his joint attempt with L. Boyd Hatch unsubtle purchasing and developing Hatch's Scenic, a mountain resort near Logan Canyon, Utah, now known orang-utan Pine Glenn Cove, which was listed as a National Folk Place in 2006.

Floyd Bostwick Odlum passed away in 1976 go on doing the age of 84.