Word: boarding
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Dates: during 1930-1939
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Meanwhile last week onetime AAAdministrator Davis, who once served as Montana's Commissioner of Agriculture & Labor, was glooming in Glacier National Park at a meeting of the Montana Bankers Association. He confessed that although on leaving AAA for the Federal Reserve Board he thought he was "sailing from a storm-tossed sea into a comparatively smooth and protected harbor." now, after a year, he was not so sure. Said he: "If another crisis finds the American banking system disorganized and ineffective, the American citizenry . . . may . . . seize a short cut. . . . Certainly public opinion at such a time will have scant...
...love of their stockholders which moved many a board of directors to pay out as much as 99% of earnings in dividends rather than 27% in surplus profits tax. Contented stockholders would buy more stock, return to their company as much cash or more than they received in dividends. One of the first big companies to go the whole hog on this method of making everybody but the Collector of Internal Revenue happy was Sears, Roebuck & Co., which paid out approximately all it earned to its 34,500 stockholders, then proceeded to sell them $43,000,000 worth...
...annual report last week (see col. 1) the Federal Reserve Board noted that in 1936 securities issued to obtain new capital amounted to $1,200,000,000, or more than the aggregate for the previous four years combined. During the first five months of 1937 new corporate capital financing totaled $526,187,000 compared to $310,709,000 in the same period of 1936. Notable issues: by Johns-Manville, $10,000,000 in common stock; by Pennsylvania Railroad, $52,000,000 in debentures; by Burlington Mills, $3,150,000 in common stock; by Fruehauf Trailer...
...year-old daughter of his landlady with a ring chopped from a gold guinea. He did so well renting Birdsboro that he bought it in 1796. Plant Manager Matthew Brooke married his daughter and Brooke-Barde descendants have owned and operated Birdsboro ever since. Chairman now of the Birdsboro board, which contains six Brookes, is tall, 70-year-old Robert Edward Brooke, grandson of Matthew. President since 1933 has been hard-bitten John Edward McCauley, onetime machinist's apprentice, who states in his hoarse steelman's voice that the C. I. O. "hasn...
...Rockefeller III was Princeton '29; Nelson Aldrich, Dartmouth '30; Laurance Spelman, Princeton '32; Winthrop Aldrich, Yale '35 (but no graduate); David, Harvard '36. Last week Princeton, which is currently seeking $6,500,000, elected serious young John D. Ill a life member of its Board of Trustees. Mr. Rockefeller; 31, is already a trustee of the Rockefeller Foundation, the General Education Board, the American Museum of Natural History...