Word: bankrupt
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Dates: during 1930-1939
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...cinema code was finally adopted last autumn, President Roosevelt suspended, pending further investigation, two clauses which seemed particularly galling to the industry. One clause declared against "excessive" salaries; the other prohibited producers from raiding their rivals' star performers with offers of higher salaries. When cinema companies began going bankrupt, Hollywood ceased to brag of its wage scale and cinema employes began to take unusual pains to get their Federal income tax returns just right. Last week, NRA Division Administrator Sol Arian Rosenblatt, able Broadway lawyer, made his long-awaited report on stars and salaries...
...Mellons found their fortune. In 1908 he emigrated to Oklahoma, struck oil on one Willie-Cries-For-War's land, piled up a $65,000,000 fortune, built Ponca City, married his ward when his wife died, gave his State Bryant Baker's "Pioneer Woman," and then went bankrupt. He always felt that he had been euchred out of control of his Marland Oil Co. by unscrupulous financiers and when in 1932 he was elected to Congress, he kept up a steady racket against "the wolves of Wall Street." His gubernatorial platform: "A New Deal for Oklahoma," a State police...
...Every farmer unable to pay his mortgage or other obligations could be declared bankrupt, have his farm appraised and, with the consent of creditors, buy it back over six years at the new figure, with 1% interest...
...might repudiate the repudiation, the Administration joined Missouri Pacific in fighting Bankers Trust's demand. After long pondering Judge Faris pointed out that: 1) If the gold clause were held binding, 1,693 devalued dollars would have to be paid on each $1,000 bond. 2) "It would bankrupt well nigh every railroad, every municipality . . . and well nigh every State in the union." 3) Congress alone has power to say what shall be used as money. Concluded Judge Faris: "[The Gold Clause] is a promise to pay in gold, not as money, but as a mere commodity. . . . In short...
...simply that he seems guileless. His own cryptic opinions are buried deep in the characters of his people. Only occasionally does he let his irony be seen: a cynical businessman defines the decision of a jury as "just an idle opinion expressed by twelve negligible onlookers"; when a bankrupt unsuccessfully pleads that the bank should not strip him to the buff, "the Colonel was amazed that anyone should compare the most conventional of American businesses with a gambling house...