The Atlas Corporation is an American investment firm that was formed in 1928. Atlas invested in and managed a number of major US companies during the 20th century and has a number of investments in natural resources.

History

Atlas corporation was formed in 1928, in a merger of the United Corporation, an investment firm started in 1923 with $40,000, with Atlas Utilities and Investors Ltd. The corporation specialized in capital formation and management. In 1929, Atlas was a $12,550,000

investment trust An investment trust is a form of investment fund found mostly in the United Kingdom and Japan. Investment trusts are constituted as public limited companies and are therefore closed ended since the fund managers cannot redeem or create shares. ...

. The company was able to shrewdly weather the Wall Street Crash of 1929, and continue to grow through the 1930s and 1940s. The corporation was founded by Floyd Odlum and his brother-in-law Boyd Hatch. With Floyd Odlum as president and Boyd Hatch as vice-president, Atlas invested, managed or controlled numerous industries, including

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, Bonwit Teller (acquired 1934) and Franklin Simon & Co. (acquired 1936) ladies' apparel stores,

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, and various mines, utility companies, aviation related businesses, and banks. After Atlas Corporation acquired the Bonwit Teller ladies' apparel stores, Floyd Odlum convinced his wife,

Hortense Odlum Hortense McQuarrie Odlum (July 1891 – January 12, 1970) was the first woman president of Bonwit Teller Department Store in New York City and the first wife of financier Floyd Odlum. Biography Hortense McQuarrie was born in St. George, Utah, th ...

, to become involved in the store's operations. She became the first female president of a major department store chain when she became president of Bonwit Teller in 1934. In 1948, Howard Hughes acquired controlling interest in

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from Atlas. The Atlas Missile program was named after the Atlas Corporation, the contractor through its Consolidated Vultee Aircraft Corporation, (later Convair) subsidiary, which was used in the

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missions to send astronauts into orbit. Today, the company has ownership in natural resources investments.

References

{{Authority control Financial services companies established in 1928 Investment companies of the United States Holding companies of the United States Holding companies established in 1928 American companies established in 1928