Word: banquet
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Dates: during 1920-1929
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Twelve men will be initiated into the Harvard Flying Club at a banquet to be held at the Harvard Club of Boston Monday night. The new members were chosen from a list of 40 candidates who presented themselves for election...
John J. Raskob of General Motors Corporation gave a great banquet in Manhattan last week to Professor Edwin Robert Anderson Seligman of Columbia University. Invited to attend were more than 500 potent U. S. businessmen, financiers & economists-from Vice President Norman I. Adams of the National Shawmut Bank, Boston, to President L. S. Zimmerman of the Maryland Trust Co., Baltimore. They came less to eat than to hear Professor Seligman explain the first thorough analysis of the installment selling problem...
...Raskob said at last week's banquet: "In 1926 the retail value of automobiles, trucks and parts produced is estimated at $6,000,000,000." Only 40% was paid in cash, the balance by monthly installments. General Motors, Mr. Raskob's firm, believed that the installment system was good. However, said he: "If we were wrong we wanted to know it. If we were on fundamentally solid economic ground we wanted to know that also. All agreed that no opinion would tend to give a greater sense of security than that of Professor Seligman...
...Raskob's banquet he said: "Installment selling has increased production, stabilized output, reduced production cost and increased purchasing power. The installment plan induces the consumer to look ahead with greater care and to plan his economic program with a higher degree of intelligence. It not only tends to strengthen the motives which induce an individual to pay, but also influences his capacity...
Wednesday and Thursday. Crime Commission meetings. Made a speech (see p. 14) and introduced other speakers at the banquet. Entrained for Cleveland late that night...