Lehman Brothers Collection - Contemporary Business Archives

Harvard Business School Baker Library Historical Collections

Lehman Brothers Collection

Twentieth-Century Business Archives

Transcontinental & Western Air, Inc. Deal - Lehman Brothers Collection

Transcontinental & Western Air, Inc.

Company Dealcommon stock
Transaction TypeCommon Stock
Deal DescriptionTranscontinental & Western Air, Inc., added the net proceeds from this transaction to its general funds. The company applied such funds to the purchase of thirteen Douglas transport airplanes with spare engines and accessories, including Sperry Automatic Pilots. The company also applied the funds to the purchase of replacement equipment and material, including propeller blades, hubs, and equipment to prevent the formation of ice on airplanes and to the redecoration of the interiors of transport planes, as well as the purchase of ground and aircraft radio communication equipment for instrument landing and an airplane for flying instruction. Any balance of the proceeds was applied to other general corporate purposes.
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