FROM THE BASEBALL CHRONOLOGY
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| » February 3, 1934:
Powel Crosley, local millionaire, heads a syndicate that buys just over half the stock in the Cincinnati Reds from Sidney Weil. No price is announced. Crosley, owner of a 500,000 watt radio station, is on the board of the Central Trust Bank, and it is the bank that had loaned money to Sidney Weil and his syndicate to buy the Reds. Weil was in the process of raising money to pay off the bank when Crosley's purchase takes place. The Reds' home park will be renamed Crosley Field.
» February 13, 1934: In an item discovered by historian Doug Pappas, the National League loans the Cincinnati Reds $50,000 at 4.5% interest. Powel Crosley, who bought the team 10 days ago, will repay the Reds' debt in full by 1938.
» July 1, 1936: Powel Crosley, Jr. exercises his 2-year option and buys controlling interest in the Cincinnati Reds. » March 29, 1961: Powel Crosley's will directs the Reds to stay in Cincinnati and be run under nonprofit ownership. The late Crosley's daughter and husband, Stanley Kess, will head the foundation.
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