Since 1991, Delta Financial Advisors, Inc. has managed client portfolios and financial objectives, providing suitable advice in helping people like you reach their goals. Visit us by clicking on ad.
John James Jachym purchases 40% stake in Senators
December 27, 1949
It is reported that John James Jachym of Jamestown, New York; became 40% stakeholder of the Washington Senators. With a major investment of $400,000 from Pennsylvania oil man Hugh A. Grant, John Jachym was able to purchase the 40% stake in the ball-club from the William Richardson estate for $550,000.
The transaction upsets majority owner Clark Griffith so much he keeps Jachym out of all of the team’s decision making. During the next six months Griffith was able to keep Jachym from getting an executive position in the team’s front office.
In June of 1950, with Jachym getting more and more frustrated with Griffith’s power play he ends up selling his shares to Washington insurance executive H. Gabriel Murphy. For Clark Griffith this is excellent news as it is well known that Murphy and Griffith are long time friends. It is reported that Jachym made a profit of $80,000 to $100,000 when he sells his shares to Murphy.