Evening star. [volume] (Washington, D.C.) 1854-1972, 1929-06-02

! Since the wrights had made theil
first flight in 1908, he often hac
thought of the part flying might play
| in TRANSFORMATION. So when he read Of
the Hammondsport flights he realized
their importance. He knew Baldwin
He had taught him how to play foot
ball at Ridley College. He addressed q
letter to his former student, gave !,
to a writer and sent him to Hanmonds-
port for a story.
Later Baldwin and McCurdy visited
New York. They telephoned Keys. II
was just friendly party.
After that they kept in touch with
one another. When the Worlds
Work lost its financial editor in 1911
Wall Street acquired new firm, c. M
Keys g. Co. At first 1t was an in
vestor's service.
Three years in his own business; he
was selling millions of dollars worth
of bonds and waxing rich, when Europe
went to war.
Glenn Curtiss began building air.
planes for the allies on quantity pro-
duction scale that made quick ex-
pansion imperative He reorganized his
company in 1916 Wall Street interests
| bought control. CurtisS found himself
with much money. He told his friend
McCurdy, that he wanted expert ad-
vice about investing it.
60 down to New York and talk to
C. M. Keys" said McCurdy.
Curtiss and Keys have been close
| friends and business partners ever since
Keys became a vice president OF the
was simply financial adviser. He cut
no ice at all in aviation.
When the United States joined the
allies. Curtiss had to expand again.
One of the Keys clients was John N.
WHY'S, the motor car manufacturer.
Through Keys he became interested in
aviation, and in September. 1917,
bought control of the Curtiss company.
Keys was chairman Of the finance
committee.
Airplane Industry Hit.
The armistice knocked the airplane
industry for complete loop. 1t landed
fat on its back. 1t was a war baby
nourished solely by war contracts. The
Government had Cancelled 100000
600 worth Of aircraft orders within "a
hours.
Curtiss was the biggest concern in
the industry. It had produced 5000
airplanes and as many engines. It had
the only complete research laboratory
and engineering organization in the
United States. The WHY'S interests
thought they could develop commercial
aviation and keep their plants running
They spent $1,50o.oo0 finding out that
flying then was not popular.
On Friday afternoon in August,
1920. they went to Keys.
We're through. These are hard
fya ind Pa
cannot afford to carry the Curtiss COM
pany any longer. It has $650,000 in
debts payable next Wednesday. We
plan to ask for a receiver"
What a pity!" exclaimed Keys.
"That will mean the finish. If Curtiss
goes, the others will go. Most Of them
are out of business now. Let me see
what I can do"
He went home and remained in the
house over the week end, thinking. On
Monday night he met the WHY'S people
and the Curtiss board Of directors.
This company Is not worth a good
dime" he told them. But as an or
ganization it is worth saving. If you
want to sell your holdings to me, for
cash, I'll take control. Tomorrow I
shall pay the debts, and I'll keep the
company going until find some way
to save it and protect the thousands of
small STOCKHOLDERS.
Credited With Foresight.
They sold out to Keys for less than
Sd q share and thought themselves
lucky. Perhaps they were. He himself
told me at the time that of all the
foolish things he had ever done this
deal took the prize. But others think
that he knew what he was doing. They
credit him with foresight which he
Continued on fifth Pagel