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The Scrapbook

           

           Then,inaclippingmarkedFebruary1,1952:

           MILLIONAIREEXECTOSELLCOLORADO

           INVESTMENTS

           DealMadewithCaliforniaInvestorsonOverlook,OtherInvestments,DerwentReveals

           ByRodneyConklin,FinancialEditor

           InatersecommuniqueyesterdayfromtheChicagoofficesofthemonolithicDerwentEnterprises,itwasrevealedthatmillionaire(perhapsbillionaire)HoraceDerwenthassoldoutofColoradoinastunningfinancialpowerplaythatwillbecompletedbyOctober1,1954.Derwent’sinvestmentsincludenaturalgas,coal,hydroelectricpower,andalanddevelopmentcompanycalledColoradoSunshine,Inc.,whichownsorholdsoptionsonbetterthan500,000acresofColoradoland.

           ThemostfamousDerwentholdinginColorado,theOverlookHotel,hasalreadybeensold,Derwentrevealedinarareinterviewyesterday.ThebuyerwasaCaliforniagroupofinvestorsheadedbyCharlesGrondin,aformerdirectoroftheCaliforniaLandDevelopmentCorporation.WhileDerwentrefusedtodiscussprice,informedsources…

           Hehadsoldouteverything,lock,stock,andbarrel.Itwasn’tjusttheOverlook.Butsomehow…somehow…

           Hewipedhislipswithhishandandwishedhehadadrink.Thiswouldgobetterwithadrink.Heturnedmorepages.

           TheCaliforniagrouphadopenedthehotelfortwoseasons,andthensoldittoaColoradogroupcalledMountainviewResorts.

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