Word: babsonic
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...more lyric vein, Mr. Babson concludes that the only safe hedges are things like health, culture, children, friendship, birds, flowers, the sea and the sky. And Mr. Babson advises against entering any period of inflation or revolution without a clear conscience. "Jesus may not have been much of a theologian," admits this moderator of the Congregationalist Church. "He, however, was a real economist...
...Babson came honestly by his combination of Yankee piety and Yankee shrewdness. Born in Gloucester, Mass. where his father was a merchant, Roger Babson has probably made more money out of statistics than anyone in the U. S. One of the chapters in his autobiography is headed, "$1,200 Becomes Millions." As a youth, he relates, he "always liked bright, jolly girls, full of the dickens." But he kept his eye on the main chance, and after a disillusioning turn in investment banking, followed by a bad case of tuberculosis, he set himself up in Wellesley Hills, Mass...
Today the Babson interests are widely diversified. Babson's Reports, Inc. sells the statistical service through 16 branch offices in the U. S. and Canada. Publishers' Financial Bureau distributes the founder's views to 400 newspapers. A. P. W. Paper Co. (paper towels) is Babson-dominated, as is Gamewell Co., which makes fire and burglar alarms, signal systems, automatic sprinklers. Babson Institute is an endowed, non-profit-making business school with a 300-acre campus and ten buildings in Babson Park, Mass. where all Babson activities in Wellesley Hills are concentrated. The Institute now has 130 students...
...Babson also winters in Florida, where, in addition to his southern Babson Park, he owns a 12,000-acre ranch. There a fortnight ago he wound up his annual winter business conference, which is a small edition of the conference he holds at Babson Park, Mass. in the autumn. It was at the 1929 autumn conference that he uttered his last warning about the impending stockmarket crash. Even Mr. Babson admits that he started calling the tragic turn several years before anything happened...
Stocks. Statistician Roger Babson, pious and efficient moderator of the Con-gregational-Christian Church, declared that church boards now might well put their money in stocks rather than bonds. And in view of frequent churchly criticisms of Business, the Federal Council should appoint a committee to tell the churches what companies are "run according to Jesus Christ." Moderator Babson diagnosed Protestantism's basic trouble as its declining birth rate, thus perplexing listeners who recalled that a year and a half ago he was for birth control as a cure for poverty...