Word: basic
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Dates: during 1920-1929
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...This basic substance of feminine sexuality is not the sole property of the human species, for Dr. Allen presented evidence demonstrating that exactly the same hormone is present in the hen, pig, sheep, cow and rat as well as woman. In fact, just as is the case in thyroid, adrenal, pituitary and other glandular products, it seems assured that the animal hormone will substitute completely for the natural secretion of the human gland...
...seems certain that money conditions are just now the basic consideration in regard to future business conditions; and that, in this respect, the U. S. as a creditor nation is in a very different situation than ever before. Our theories of business cycles have been largely postilated on our situation, so long continued, as a debtor country. It may be, therefore, that the past will to a smaller extent than ever before indicate probabilities for the future. Also, the abundance of funds in this, country may lead to a generally lower level of interest rates for the coming years...
John Spencer grew to years of discretion and mechanical knowledge. Re- cently, the U. S. Patent Office issued to him a basic patent for a new type of quick-acting thermostatic bimetal device.* Last week, the Westinghouse Electric and Manufacturing Co. obligated itself to him (according to report) to the extent of a million dollars for this patent. The Spencer Thermostat will now appear on a variety of electrical apparatus, chiefly irons, coffee-percolators, water-heaters...
Periods of cheap money are usually accompanied by mergers and changes in corporate ownership. The basic reason for this is the readiness of the public to purchase securities at such times, plus the relatively high prices reached by securities when interest rates are low. The U. S. is apparently moving into another such merger period as 1900-06, except that today enthusiasm is more tempered with wisdom of ex- perience. But the figures are larger, except for the mammoth Steel Corporation merger of 1901. There are still few other billion-dollar corporations, yet in the last few years a large...
...Secretary Mellon (who, incidentally, is Chairman of the Federal Reserve Board) to look askance at the large sums of money loaned hy banks on stocks and bonds, such a fall in share prices is not fundamentally surprising. There has been the further factor of evident over production in many basic industries to give pause to undue optimism...