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...cable and radio system to Europe and Latin America. In 1928, Clarence Mackay decided that music was a more interesting medium of communication, sold the system to International Telephone & Telegraph. By June 1935, I. T. & T. was fed up with advancing Postal cash to pay the $2,500,000-a-year interest on its bonds, let it slip into 77-B. Largest independent bondholder: Lehman Bros, (and clients), whose Bondholders Committee finally represented some $30,000,000 (about 60%) of the bonds...
...early-bird office boy named Martin Block used to tear a page off Owen D. Young's calendar every morning, turn on the office ozone machine, then listen to earfuls of advice (8:55 to 9) from the big boss himself. Nowadays Martin Block, the dapper $50,000-a-year impresario, prizes that advice highly. "I had better than a college education," he reflects. "I had five minutes a day, six days a week, two and a half years with Owen D. Young...
...usual. Pennsylvania's Republican Governor Arthur Horace ("Breaker Boy") James, who boasts that he used to be a miner himself, celebrated the day with an incredible political blunder. He let subordinates fire John Mitchell's 46-year-old son, Richard, a $2,100-a-year clerk in the Department of Property and Supplies. By nightfall, thousands of miners were petitioning for Richard Mitchell's re-employment and denouncing Governor James, who lamely pleaded that St. John's son had known for two months that he was to be replaced. But State Treasurer F. Clair Ross...
...year-old Miss Pope did much to make life bearable for her boss, fending off importunate callers and imposing order in an office not always noted for order. Miss Pope quickly got offers from other Federal bureaus and private business. Luckless Mr. Andrews, who gave up a $12,000-a-year job with New York State to take his $10,000 job in Washington, had nothing better in sight last week than a $7,500 place as labor-relations man for Reconstruction Finance Corp...
Most urgent news Editor Landry brought to Variety's showfolk readers last week was that war had completely stalled Europe's $3,000,000-a-year commercial broadcasting business, conducted mainly from Luxembourg and Normandy for British audiences, who get no commercials from their BBC. Big day for Radio Luxembourg, Radio Normandie and other "outlaw" stations has been Sunday, when the prim BBC goes completely Sabbath. On Sundays, the "outlaws" used to pour forth musical and variety programs acted and recorded in London and air-expressed to the foreign transmitters, briskly dinning Britishers with radio commodities like Alka...