Word: bearding
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Dates: during 1930-1939
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...Hoffman, his five daughters and a son (who died last January) to call him anything except "Father." Lately he endures "Papa" from the grown "women, especially when they say, "Papa, here's a present for you." His six grandchildren dare to call him "Grandpa" and pull his beard...
...farmer isn't happy unless he has sand in his beard...
Thus did Charles A. Beard indict the U. S. railroads before the Senate Interstate Commerce Committee last fortnight. Something of an authority on railroad mismanagement. Historian Beard was urging adoption of a pending Senate resolution authorizing a railroad investigation on the order of the Banking & Currency Committee's famed stockmarket probe. Even Jesse Jones, whose RFC millions have not prevented the worst succession of railroad failures since the days of Jay Gould, has admitted that the investigation "might be a good thing...
Currently serving on an independent protective committee in connection with bankrupt Missouri Pacific (mileage: 12.183), Mr. Beard blames the bankers as the carriers' real managers. But bankers or no, financial ineptness is almost a railroad tradition. With a few notable exceptions like Burlington, Union Pacific, Atchison, Topeka & Santa Fe, Chesapeake & Ohio and Norfolk & Western, U. S. railroads have habitually increased their fixed charges when they should have reduced them; they have sold bonds when more prudent corporations were selling stock; they have paid dividends when they should have been paying off debts; they have sunk millions in improvements that...
...carriers made news last week which pointedly documented Historian Beard's indictment. As Wall Street had long expected, Chicago, Milwaukee, St. Paul & Pacific (mileage: 11,226) acknowledged itself in financial difficulties. Hav-ing failed to meet a maturing bond issue, it announced that it would present a reorganization plan before July i. Only seven years ago it emerged from a notoriously expensive reorganization managed by Kuhn. Loeb & Co. But instead of permanently paring the road's topheavy debt, the reorganization reduced fixed charges little, and the total capitalization was actually increased...