Word: accountability
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Dates: during 1950-1959
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Over the years, as the trusted and all-knowing head of the bookkeeping department, Mamie Averill created a sort of personal bank balance for herself, auditors discovered, by under-recording receipts in the company ledgers. Example: in 1952, after depositing in the firm's bank account a $94,891 check from a client, she altered the entry from $94,891 to $4,891. That gave her $90,000 to draw on. When she wanted some money she simply made out a company check to "cash," slipped it into a sheaf of legitimate checks for a company officer to sign...
...sure that the man he listened to until 1:30 in the morning was Austin Frank Young. But he looked the part-bruised, scratched and haggard. And he had a hair-raising yarn to spill. Scribbling furiously, Buchanan took it all down, airmailed home the fugitive's own account of his escape, which was promptly copyrighted by the Herald and splashed all over Page One. It made vivid reading: the ordeal ("I didn't know which was worse, the horrible crawl across the yard or the swamps, the muck and the rocks"), the ride to Havana...
...Schering improvement on Merck & Co.'s basic cortisone, is marketed by Schering under the trade name Meticortelone. Schering cross-licensed other companies to make it and bought a lot of it from Upjohn Co., at $1.19 per hundred tablets. But this price, argued Brown, did not take into account the costs for research, administration, taxes, selling and distribution. By Schering's figuring, said Brown, the 100 tablets cost $12.30. It offered the tablets to druggists at $17.90 with a suggested consumer's price...
TYPEWRITER IMPORT BAN is sought by U.S. typewriter manufacturers. The Tariff Commission will investigate a petition from Smith-Corona Marchant and Royal McBee asking for a duty of 30% ad valorem per foreign machine, with a minimum fee of $10. Main reason: imports account for a disproportionate 30% of the U.S. market...
...ARMADA, by Gorreff Mattingly. What is sometimes called one of the decisive battles of the world, the defeat of the Spanish Armada in 1588 by Sir Francis Drake, settled almost nothing and was about as ineptly fought as any large-scale naval engagement in modern history. This account of the battle, and of the political and religious currents surrounding it, is brilliant history...