Word: armstrong
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Dates: during 1930-1939
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Although the Armstrong Investigation viewed with alarm the steady mushrooming of the biggest insurance companies, no effective legal brakes were applied. At that time there were 138 legal reserve companies with aggregate assets of $2,924,253,848. Last week Bill Douglas declared that at the end of 1937 there were 308 legal reserve companies with aggregate assets of $26,249,049,219. The biggest three companies in 1906 had some half billion dollars in assets apiece then; now they have more than a billion apiece. And Metropolitan Life Insurance Co., which in 1906 had only $176,000,000, today...
Thereupon last week's look-see into insurance began to diverge from the Armstrong pattern of 33 years ago. The Armstrong Commission was primarily interested in insurance by itself; the Monopoly Committee is out to survey "the economic power inherent in the vast investment funds controlled by insurance companies. . . ." Today the largest 49 legal reserve companies hold 11% of the U. S. debt, 9.9% of all outstanding municipal bonds, 22.9% of all railroad bonds, 22% of the public utility debt, 15% of the industrial debt, 14.5% of urban mortgages. The Metropolitan alone now invests...
...aspect of Metropolitan agents' resourcefulness was considered next day. The Metropolitan is a mutual company, its policyholders being its shareholders and theoretically therefore electors of the management. Bill Douglas set out to show that this was only theoretical, that mutual management was actually self-perpetuating-just as the Armstrong Investigation concluded over 30 years ago. Noting that in the 23 years since Metropolitan shifted to mutual status the management slate has never been opposed, Bill Douglas further noted that at election time it is customary for branch offices to instruct their agents to ask policyholders to sign election ballots...
Thompsonites. With her background of eight years as a correspondent in Vienna and Berlin before the rise of Adolf Hitler, Dorothy Thompson last December joined Publicists Herbert Sebastian Agar (Louisville Courier-Journal) and Hamilton Fish Armstrong (Foreign Affairs) in composing a "Re-Declaration of American Faith" to which, on Benjamin Franklin's birthday (January 17), the National Student Federation set out to obtain "several million'' signatures. First they signed up 63 Big Names, including such diverse characters as William Allen White, William Green, Marshall Field III, Al Smith. Central proposition of their manifesto is an inverted declaration...
...National Philharmonic Symphony Orchestra, and Louis Armstrong playing "Jeepers Creepers"; a murder mystery, and Maxine Sullivan singing "Mutiny in the Nursery;"--that is the dish the University is serving up today and tomorrow. In its serious moments, except for a rendition of Wagner's "Tannhauser," it is very poor; in its humorous ones, excellent. "There's That Woman Again," with Melvyn Douglas and Virginia Bruce, pretends to be a detective story, with domestic trimmings; but the director, realizing that his "mystery" was as transparent as the glass doors in the Douglas-Bruce apartment, threw the emphasis on the humorous side...