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...Banking Act divorced deposit banking from underwriting; three Morgan partners, including bland Henry S. Morgan (J. P.'s younger son), accordingly split off to form a new partnership, Morgan Stanley & Co. J. P.'s elder son, Junius Spencer, stayed on as a Morgan partner. The foreign loan busi ness was dead; its epitaph the Johnson Act which forbids U. S. sale of securities of governments defaulting to the U. S. Government. Meanwhile Morgan partners were retiring, dying; from the partnership their heirs drew millions for inheritance and inheritance taxes. By last year's end the House...

Author: /time Magazine | Title: BANKING: Gotterdammerung | 2/26/1940 | See Source »

...since he was Diana Wynyard's husband in Reunion in Vienna. William Tracy (the much hazed plebe of Brother Rat} is the typically brassy errand boy who, after saving his boss from suicide, badgers him into making his rescuer a clerk. James Stewart walks through the amiable busi ness of being James Stewart. Joseph Schildkraut, as usual in a minor part, as 'usual acts rings around everybody else...

Author: /time Magazine | Title: Cinema: The New Pictures: Feb. 5, 1940 | 2/5/1940 | See Source »

...estimated 25% of such U. S. thrift plans from selling shares without prospectuses or with misleading information. Last week the sixth thrift plan enjoined by SEC, Lexington Foundation Inc., consented to a permanent injunction without admitting guilt.* Lexington, whose contracts total about $16,000,000, may continue in busi ness so long as it is careful to issue prospectuses which make clear such facts as that from the first $100 which an investor pays, some $70 is deducted for a service charge...

Author: /time Magazine | Title: THE GOVERNMENT: Investor's Advocate | 9/26/1938 | See Source »

...classical beauty, but she and Teddy were ever so distressed and annoyed when they were held one year by the Italian border customs officials. Those sillies thought M and Teddy were smugglers, and filled with jewels. M was positively haughty and finally got their release. . . . But now, this abdication busi ness. Teddy doesn't think much about that or anything, M, though, says, 'Kings do things...

Author: /time Magazine | Title: People, Jan. 4, 1937 | 1/4/1937 | See Source »

...annual sales of $400,000,000. That was only about 1% of last year's total retail sales in the U. S.. but enough to cause Printers' Ink to note : "If co-ops are to be viewed with alarm as poaching on the preserves of private busi ness, there is plenty of room for alarm...

Author: /time Magazine | Title: Business: Co-Ops | 7/13/1936 | See Source »

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