Word: bankrupts
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northcliffe, whose own screaming, halfpenny Daily Mail was flourishing, saw no reason why a paper as old and influential as the Times should have only 40,000 circulation and be almost bankrupt. How he shook things up occupies the bulk of the latest and final volume of the fascinating Times-sponsored History of the Times, on which scholarly Stanley Morison, 63, has spent the last 20 years. As in the previous volumes (TIME, Feb. 23, 1948), Timesman Morison trots out all "the Thunderer's" skeletons, glories and stupidities with an unsparing candor seldom equaled by official chronicles anywhere...
...long and complicated race for control of the bankrupt Missouri Pacific, Railroad Juggler Robert R. Young has had the throttle wide open, but so far has gotten nowhere. Young has been battling an ICC plan which would turn over the now profitable road to the bondholders and wipe out MoPac's 828,395 shares of common stock, more than half of which are owned by Young's Alleghany Corp. (TIME, Dec. 10). Last week Young lost his fourth attempt to block the ICC plan, when the U.S. Supreme Court turned down requests by him and four others...
...third act clears up the reason for the diverse points of view. For though together they represent the intellectual pinnacle of 20th century culture, each view is cowardly, frustrated, or morally bankrupt, simply because each is a mere intellectualization. The inhabitants of Heartbreak House do not have the courage to go out and fight for what they believe in. They are lovely people waiting to be annihilated, and nihilism was apparently the best Shaw could wish them...
...control and possession of their oil but did not know how to refine it, and no tankers called at Abadan. A commission of experts from the World Bank, disheartened by Mossadegh's fanatic unreasonableness, prepared to leave Teheran, taking with it any hope of an immediate solution of bankrupt Iran's oil problem. With no money to spend, shoppers gazed longingly into the windows of Teheran's shops and glumly wished one another a happy Now Rouz...
...onetime star salesman for the Gruen Watch Co., Teviah Sachs, 49, knows the watch business as intimately as a watchmaker knows a 17-jewel movement. But when Sachs offered to put up $100,000 of his own money two years ago, to keep the bankrupt Waltham Watch Corp. from closing, it looked as if he had let his prudence run down. In return for his investment, Sachs got 1) 400,000 shares of common stock, 2) a chance to boss the reorganized company† as president, and 3) a suit from protesting stockholders. Last week the U.S. Supreme Court tossed...