Word: cigarete
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...stockholder of Hupp Motor Car Corp. In 1932 when this arch-promoter was backing the sale of securities in packages of one share each in 25 or 50 companies, he confidently expected his merchandise to become the "Ford of the American investment business." When he was pushing his Elektrolite cigaret lighter, he used to rub his hands over the 120,000,000 U. S. birthdays as prospective gift sales, crowing: "Give me 5% of them and I'll make $10,000,000." A sworn foe of Wall Street, which warmly reciprocates his sentiments, he once declared...
...acre farm with blooded cattle down on the Yadkin River and got to work at 7:30 in the morning. But neither did that life blight his ability. When he paid his first visits to Washington in 1933 he went as the representative of the hard-headed big four cigaret makers with the job of getting a "re-employment agreement" (i. e. preliminary code) that suited them. He got a code that specified not a minimum but an average wage, and he got it without fireworks and without making enemies except in the labor camp. In fact he made decided...
...confidence of business. Because of his open taking of sides in the Recovery Board's debates, it was at one point suggested that he resign the gavel to the Board's Executive Secretary Leon Marshall-which he did. During the discussions of the recently adopted cigaret code he did not try to be impartial, simply withdrew from the meetings when the subject came...
...temperament to promote stormy scenes and he never has anything of importance to say to the Press. What he has to say he says at the White House himself or sends word by Donald Richberg. He is valued also as a midway man on NRA theory. The index of cigaret consumption fluctuates with every economic curve-and the industry meets fluctuations by flexing not by fixing prices. S. Clay Williams is accordingly no price- fixer. Recently NRA surveyed 23 industries and came to the conclusion that those which had maintained their prices had bad employment records compared to those which...
...cigaret code, lost in the White House office for days (TIME, Feb. 11), was found. Promptly the President signed it, bringing the big tobacco companies after 18 months' delay into NRA. Hardly had the President done so when William Green, who had just come off second-best in an argument with him, declared the A. F. of L. keenly disappointed that the minimum wage of the code was 25? an hour. One kick Mr. Green could not make: that S. Clay Williams, as head of NIRB and erstwhile president of R. J. Reynolds Tobacco Co., had been partial...