Word: backes
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Dates: during 1930-1939
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Meanwhile Continental Illinois did better than it had agreed in buying back the RFC preferred: in 1936, $5,000,000; in 1937, $10,000,000; in 1938, $10,000,000 more. Continental Illinois common shares, which sold at $60 in 1934, are now selling around $87. An interesting sidelight: Preferred Representative Cummings, who in 1937 owned only 104 shares of his own common, reported a year later that he held 3,019 shares and today reports holdings of 5,019 shares, owns more Continental common than any other director...
Last week Mr. Cummings cut the umbilical cord between his bank and RFC, announced that Continental Illinois would buy back the last $25,000,000 of its preferred in one batch...
...Jesse Jones, who likes to get RFC's money back, this was presumably good news. On the other hand, Banker Jones also likes to keep a grip on key properties like Continental Illinois-it has a useful fiscal finger in many pies, especially railroads and bankruptcies, which have given it large profits, the RFC much useful information...
...glove after the other is lost. This week their patented answer went on sale at Manhattan's swank Mark Cross Co. (leather goods). It was a glove which looked like a hand's pattern jig-sawed out of a board. It is made by sewing an identical back and palm to a leather ribbon edge. Loose and easy on the open hand, it bunches a bit when the fist is closed...
...leftists are not likely to crib. To declare that big U. S. fortunes are ending in the natural course of things is bad news for those who advocate ending them by "proletarian" revolution. Far less detailed than its predecessor, also far livelier, The Ending of Hereditary American Fortunes goes back a long way to explain its title. Key of Myers' argument is the U. S. tradition against special privileges that are due to accident of birth...