Word: dealings
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Dates: during 1930-1939
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Made head of a feast-or-famine business in 1929, Lewis Brown pulled it through the century's worst depression intact (only deficit: $2,829,000 in 1932). The New Deal's Monopoly Committee regarded J.M. under him as an example of enlightened management in Big Business; he was summoned to Washington at the beginning of Depression II to give his views to Franklin Roosevelt. Neatest trick of all, Johns-Manville has C. I. O., A. F. of L. and independent unions scattered through its plants, firmly opposes closed shop, is at present on good terms with...
...October 1938 one attempt was made to break the log jam. Assistant Secretary of War Louis Johnson got up a National Defense Power Committee on which the New Deal's very power-minded Corcoran-Cohen organization was also represented. Mr. Johnson rounded up the topflight utility bosses (one of whom, white-mustached, aristocratic Hobart Porter of American Water Works, once used him as a Washington lawyer), got them to pledge to invest up to $1,000,000,000 a year on war emergency plant in 1939 and 1940. One power executive remarked: "They wanted ballyhoo and we gave...
Resources Board junked, then his National Defense Power Committee. In came an old body, the National Power Policy Committee, headed by New Deal Goalie Harold Ickes. The plans of this Committee are largely conceived in the fertile head of its General Counsel, scholarly, drawling Ben Cohen. It plans to study U. S.'regions in need of new generating capacity...
...balance of $2,300,000 to be financed later (probably by the U. S. Export-Import Bank), President Moore and Treasurer McCormack sold 14 of their old (19-21 years) Hog Island cargo ships to the Brazil Government. For Brazil it was a good deal. It stepped up her Government-owned Lloyd Brasileiro Line fleet to 62 ships, gave her urgently needed bottoms for carrying her coffee and raw materials overseas now that war has swept most belligerents' ships from the seas...
...Moore-McCormack the deal was even better. Under U. S. Government charter and direct ownership the firm operates American Republics Line's passenger-freight service to South America. For that line, by late 1940, Moore-McCormack will have 14-$40,000,000 worth-new 9,000-to 12,000-ton, 16½-to 18-knot passenger-freight ships, constructed under the Maritime Commission's program for rebuilding the U. S. merchant marine. Seven of the new ships have already been launched. Faced with the loss of its Scandinavian-Baltic trade (American Scantic Line) for the duration...