Cusack

In 1875, one Thomas Cusack, a youth in his teens, started a business with only a paint pot and brush and a remarkable personality as assets. The business consisted in painting advertising signs on the sides of buildings in a small way. Gradually, he took to building billboards of his own, and leasing suitable walls and other locations for outdoor advertisements.

After a half-century, Mr. Cusack decided to retire from active work. But it took a banking syndicate to buy out his interest in the Thomas Cusick Co. of Chicago. What his selling price was is unknown. But the company's last balance sheet showed assets over $26,000,000 and annual gross business over $23,000,000. The headquarters of the company are located in Chicago, with branches in about one hundred other cities. The concern owns 100,000 separate leases controlling 40,000,000 square feet (10 10/99 square miles) of wall surface and 1,800,000 square feet (5/11 square mile) of billboards.

The bankers who have acquired the Cusack Co. expect to make a public offering of the stock shortly. This is said to be the first time in the history of U. S. business that Wall Street bankers have taken over an advertising concern, and also the first time that shares in such a business should be underwritten and sold to the public through the Wall Street markets.