Word: controllable
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Dates: during 1940-1949
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...Sociologist Robert S. (Middletown) Lynd: "Until the present year I have held the general position that it is unwise to engage a Catholic or a Communist to teach the social sciences ... I believe that a teacher should not teach with a bit in his teeth controlled by any organization able thereby to control what he teaches and omits from his teaching and with a record of exercising such control . . . Today, anti-communism is actively fostered as a blanket political weapon, and pressure is being brought on educational institutions to dismiss uncritically actual or alleged Communists ... I have accordingly changed...
...laying out a mere $1,750,000, Young's Alleghany Corp. bought control of Minneapolis' Investors Diversified Services, Inc., the giant catch-all which includes three big investment trusts having assets of $580 million.* It was the same kind of shoestring which Young had used to tie down Alleghany's $2 billion assets in 1937 for $4,000,000 cash...
Young bought control of I.D.S. from a group of associates headed by Bert C. Gamble, chairman of Minneapolis' Gamble-Skogmo retail chain (519 stores). Gamble had bought his own holdings in I.D.S. as a personal investment for less than $500,000 in 1945 and, in the resale to Young, made a tidy profit of more than $800,000 (less the 25% capital-gains tax). Even so, he thought Young had bought control "very cheap...
Open Field. If Young still wanted to exercise control of the New York Central -and he still talked as if he did-he had "the perfect vehicle," said Gamble. But it would take a financial maneuver complicated enough to give many Wall Streeters a headache...
Though Young's Chesapeake & Ohio railroad has owned 6% of Central stock for two years-in effect, a slim working control-the Interstate Commerce Commission has refused to let him exercise control, or sit on the Central's board, because it is illegal for the same man to control two competing railroads. Young might get around this by transferring C. & O.'s holdings in the Central to Alleghany Corp., putting Alleghany's C. & 0. voting power in trust to an outsider, and resigning his board chairmanship of the C. & O. Thus, unless the ICC found some...