Fairchild Solo

Fair child Aviation Corp., outgrowth of Fairchild Aerial Camera Corp. formed ten years ago by youthful Sherman Mills Fairchild, is a holding company held in turn, until last week, by Aviation Corp. It included Fairchild Airplane Manufacturing Corp., Fairchild Engine Corp., Kreider-Reisner Aircraft Co. Inc., Fairchild Aerial Camera Corp. and Fairchild Aerial Surveys, Inc. Of late, Fairchild Airplane Manufacturing Corp. and Fairchild Engine Corp. have operated at heavy losses; large expenditures would be necessary for experimentation and development of new products before the plants could be operated on a paying basis. Fairchild Aviation Corp. has not the money. Last week Fairchild turned over its airplane company and its engine company, its factory and flying field at Farmingdale, L. I., to Aviation Corp. In return it received the common stock held by Aviation Corp. in Fairchild. Control of the company passed to the group of minority stockholders headed by Sherman Fairchild, who was elected president to succeed Frederic Gallup Coburn.

The independent Fairchild company will build planes in its Hagerstown, Md. and Montreal plants. Aviation Corp. may continue to produce the present type of planes and engines at the Farmingdale factory, but must soon abandon the Fairchild trade name.

This file is automatically generated by a robot program, so reader's discretion is required.