Clement Melville Keys
Encyclopedia
Clement Melville Keys who as a financier was involved with founding of aviation companies Curtiss-Wright
, China National Aviation Corporation
, North American Aviation
and TWA
.
Keys was born in the small town of Chatsworth, Ontario
, Canada
and attended the University of Toronto
and taught classics there before becoming a reporter for the Wall Street Journal in 1901 where he became railroad editor, then moving on to become the financial editor of the monthly journal World's Work
. He formed an investment counseling firm C.M. Keys & Co. in 1911.
In 1916 he became an unpaid vice president for Curtiss Aeroplane and Motor Company
and assumed controlling interest of the financially troubled company in 1920. The company merged with Wright Aeronautical
in 1929 to form Curtiss-Wright
and he was the new company's president.
In June of 1929, Keys personally bought all shares of Pitcairn Aviation for 2.5 million dollars, and resold them two weeks later to North American Aviation
, which was renamed to Eastern Air Transport, and finally Eastern Airlines.
In addition Keys was head of 26 other aviation companies including North American Aviation
, China National Aviation Corporation
, and Transcontinental Air Transport
(which was to become TWA).
In 1932 he withdrew from the aviation business citing health reasons but continued to maintain his investment business. In 1942 he went back to the aviation business establishing the C.M. Keys Aircraft Service Company and after WWII helped organize the Peruvian International Airways in 1947.
Curtiss-Wright
The Curtiss-Wright Corporation was the largest aircraft manufacturer in the United States at the end of World War II, but has evolved to largely become a component manufacturer, specializing in actuators, aircraft controls, valves, and metalworking....
, China National Aviation Corporation
China National Aviation Corporation
The China National Aviation Corporation , was a major airline in the Republic of China and is currently a state owned aviation holding company in the People's Republic of China, which owns a majority of Air China and Air Macau.-History:In 1929, it was established as China Airways by...
, North American Aviation
North American Aviation
North American Aviation was a major US aerospace manufacturer, responsible for a number of historic aircraft, including the T-6 Texan trainer, the P-51 Mustang fighter, the B-25 Mitchell bomber, the F-86 Sabre jet fighter, the X-15 rocket plane, and the XB-70, as well as Apollo Command and Service...
and TWA
Twa
The Twa are any of several hunting peoples of Africa who live interdependently with agricultural Bantu populations, and generally hold a socially subordinate position: They provide the farming population with game in exchange for agricultural products....
.
Keys was born in the small town of Chatsworth, Ontario
Ontario
Ontario is a province of Canada, located in east-central Canada. It is Canada's most populous province and second largest in total area. It is home to the nation's most populous city, Toronto, and the nation's capital, Ottawa....
, Canada
Canada
Canada is a North American country consisting of ten provinces and three territories. Located in the northern part of the continent, it extends from the Atlantic Ocean in the east to the Pacific Ocean in the west, and northward into the Arctic Ocean...
and attended the University of Toronto
University of Toronto
The University of Toronto is a public research university in Toronto, Ontario, Canada, situated on the grounds that surround Queen's Park. It was founded by royal charter in 1827 as King's College, the first institution of higher learning in Upper Canada...
and taught classics there before becoming a reporter for the Wall Street Journal in 1901 where he became railroad editor, then moving on to become the financial editor of the monthly journal World's Work
World's Work
World's Work was a monthly magazine which celebrated the American way of life and its expanded role on the world stage. In 1932 it was purchased by and merged into the journal Review of Reviews. It was founded in 1900 and edited by Walter Hines Page until 1913 when his son Arthur W...
. He formed an investment counseling firm C.M. Keys & Co. in 1911.
In 1916 he became an unpaid vice president for Curtiss Aeroplane and Motor Company
Curtiss Aeroplane and Motor Company
Curtiss Aeroplane and Motor Company was an American aircraft manufacturer that went public in 1916 with Glenn Hammond Curtiss as president. Throughout the 1920s and 1930s, the company was the largest aircraft manufacturer in the United States...
and assumed controlling interest of the financially troubled company in 1920. The company merged with Wright Aeronautical
Wright Aeronautical
Wright Aeronautical was an aircraft and aircraft engine manufacturer located in New Jersey.-History:This American company evolved from the 1909-1916 Wright Company, which merged with the Glenn L. Martin Company in 1916 to form the Wright-Martin Aircraft Corporation. Glenn Martin resigned from...
in 1929 to form Curtiss-Wright
Curtiss-Wright
The Curtiss-Wright Corporation was the largest aircraft manufacturer in the United States at the end of World War II, but has evolved to largely become a component manufacturer, specializing in actuators, aircraft controls, valves, and metalworking....
and he was the new company's president.
In June of 1929, Keys personally bought all shares of Pitcairn Aviation for 2.5 million dollars, and resold them two weeks later to North American Aviation
North American Aviation
North American Aviation was a major US aerospace manufacturer, responsible for a number of historic aircraft, including the T-6 Texan trainer, the P-51 Mustang fighter, the B-25 Mitchell bomber, the F-86 Sabre jet fighter, the X-15 rocket plane, and the XB-70, as well as Apollo Command and Service...
, which was renamed to Eastern Air Transport, and finally Eastern Airlines.
In addition Keys was head of 26 other aviation companies including North American Aviation
North American Aviation
North American Aviation was a major US aerospace manufacturer, responsible for a number of historic aircraft, including the T-6 Texan trainer, the P-51 Mustang fighter, the B-25 Mitchell bomber, the F-86 Sabre jet fighter, the X-15 rocket plane, and the XB-70, as well as Apollo Command and Service...
, China National Aviation Corporation
China National Aviation Corporation
The China National Aviation Corporation , was a major airline in the Republic of China and is currently a state owned aviation holding company in the People's Republic of China, which owns a majority of Air China and Air Macau.-History:In 1929, it was established as China Airways by...
, and Transcontinental Air Transport
Transcontinental Air Transport
Transcontinental Air Transport was an airline founded in 1928 by Clement Melville Keys that merged in 1930 with Western Air Express to form what became TWA....
(which was to become TWA).
In 1932 he withdrew from the aviation business citing health reasons but continued to maintain his investment business. In 1942 he went back to the aviation business establishing the C.M. Keys Aircraft Service Company and after WWII helped organize the Peruvian International Airways in 1947.