Word: bain
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...suspicion grew rampant in outlying districts. Armored cars rushed from the big Loop banks, carried millions of dollars to little banks where unexpected runs had started. But not all the outlying banks were in a condition to warrant saving. In one crack the twelve banks of the John Bain chain went down, affecting laborers and commuting clerks in such Southside districts as Stony Island, Auburn Park, Englewood and Chicago Lawn. Although onetime Scot and onetime Plumber Bain said depositors would receive 100%, the alarm spread. By the end of the week 29 banks had closed, Evanston, Des Plaines, Washington Park...
...past, Montgomery Ward have issued only yearly statements. Last week they disclosed the results of each quarter as follows: first, a loss of $2,318,000; second, a loss of $185,000; third, a loss of $345,000; total loss for the nine months, $2,848,000. President George Bain Everitt gave assurance, however, that earnings during the current three months will efface this entire deficit...
...employe of President George Bain Everitt of Montgomery Ward...
Mail Order Cut. To his 10,000,000 customers President George Bain Everitt of Montgomery, Ward & Co. wrote 10,000,000 letters last week. Gist of the letters was that prices had been cut drastically, time payments would henceforth be allowed on purchases of $25 and over. At once President Robert E. Wood of Sears, Roebuck & Co. told reporters: "Prices in the new autumn catalog of Sears, Roebuck & Co. are the lowest in ten years." Cause: suggested in President Everitt's statement that "we are placing orders for millions of dollars' worth of merchandise at the new low commodity levels...
Mail Order. Rumored and vigorously denied last week: that Sears, Roebuck & Co. will merge with its biggest and bitterest competitor, Montgomery Ward & Co. To tales that Sears, Roebuck's General Robert E. Wood and Montgomery Ward's George Bain Everitt have been engaged in conferences, General Wood stated: "We had luncheon together several times and have discussed certain things of mutual interest, hut if there is any trend toward consolidation I do not know about it." Wall Street cynics read the denial, remarked that a problem of mutual interest must be how to get mail order shares back...