Word: conning
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Dates: during 1930-1939
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...years the history of the Cleveland Orchestra was chiefly made by three people: John Long Severance, its chief patron; Mrs. Adella Prentiss Hughes, its manager, who first convinced Cleveland that it wanted an orchestra; and Con ductor Nikolai Sokoloff who assembled the musicians, trained them from scratch. Peak of the first 15 years came in 1931 when John Severance gave the Orchestra a $2,500,000-home of its own. Most of his oil & steel fortune was lost not long after that. He could no longer go on contributing largely to the Orchestra's support. The triumvirate...
...open their books to Government accountants to find out what rail costs really are. Said Mr. Eastman: "The facts that these letters bear a common date, that they name an identical price . . . and that this price is the odd figure of $37.75) point unmistakably to the con clusion that these letters were the result of consultation and collusion. ... It seems clear that these are noncompetitive prices lacking the safeguard to the consumer which competition provides. Manifestly . . . the [steel] code was not intended to eliminate competition. On the contrary, it is by its own terms a 'Code of Fair Competition...
...Harvard School of Business last week issued a small opus entitled The Behavior of Consumption in Business Depression. Its author was Arthur R. Tebbutt, instructor in Business Statistics. It was a nice dry statistical study tending to show by many tables just how much con- sumption fell off from 1929 to 1932, but it packed a punch in its conclusions-a punch at the theories behind the Industrial Recovery...
...aggregate, consumption of goods by the ultimate consumer has re- mained at a very high level even during depression. . . . Judging the character of stagnation in business solely on the basis of consumption, we find that the depression is marked by sharply reduced con- sumption of producers' goods. That the way out of depression is to increase consumption of producers' goods seems evident. ... At the present time, however, if such a balanced recovery does occur, it does not seem likely that it can be attributed in any large part to the current activities of the Administration...
...control" Pennsylvania and Baltimore & Ohio were discussing a merger of the two competing roads. Penn sylvania's President Atterbury had "nothing to say," but B. & O.'s President Daniel Willard, vacationing in Vermont, promptly grabbed a telephone to shout: "I am opposed to any plan contemplating the con solidation of the Baltimore & Ohio with the Pennsylvania Railroad...