Word: debts
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Dates: during 1930-1939
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Month ago Panama Pacific gave up the ghost, withdrew its luxurious liners California, Virginia and Pennsylvania from coast-to-coast service. Last week the Maritime Commission consummated a smart deal. By wiping out about $10,000,000 of Panama Pacific's debt to the U. S.,* it got title to the three ships. Already operating 47 cargo ships, the Commission planned to use the new ones as the nucleus of a "luxury" passenger and commercial line to the east coast of South America, to vie with the eager efforts of Nazi and Fascist shipping to corner trade in Brazil...
...comeuppance delivered by the Mexican Government to His Majesty's Government three weeks ago. when Mexico jibed that even great powers like Britain were behind in payment of debts, dragged the skeleton of Britain's $4,000,000,000 War debt to the U. S. out of its seven-year closet. Last week. 37-year-old Conservative M.P. Robert John Graham Boothby, who five months ago accused President Roosevelt of precipitating the current stock-market decline, appealed to the Commons to send a "really authoritative mission" to Washington to negotiate a War debt settlement, "if necessary to restore...
...mighty club over factionalists who a week previously had hoped to ease him out, confident Mr. Martin promptly began to squelch insubordinate subordinates, to assure automakers that neither they nor rambunctious unionists should expect to get away with anything. Meantime he had become deeper in Mr. Lewis' debt than any other big man in the labor movement...
...Government. Meanwhile, British Ambassador to Mexico Owen St. Clair O'Malley was sent packing with two calculated slaps-in-the-face from the Government of President Cárdenas: 1) He was reminded by the Mexican Foreign Office that the United Kingdom has welshed on her War Debt. Wrote Foreign Minister General Eduardo Hay: "The government of Your Excellency lacks all right to analyze the domestic situation of Mexico. . . . Even powerful states having at their command abundant resources cannot pride themselves on being up to date in the payment of all their monetary obligations." 2) He was handed...
...Kidder, Peabody & Co. -the issue promptly went to a premium at $104, was oversubscribed in an hour. C. One of Myron Taylor's prescriptions for U. S. Steel Corp. when he was elected its finance committee chairman in 1927 was a realistic appraisal of its funded debt. In 1929, in the biggest industrial refinancing in U. S. history, he wiped out virtually all of it-$295,000,000-with money taken from surplus plus a $142,000,000 issue of common stock. But between 1932, when Myron Taylor became chairman of the board, and 1935 Big Steel lost...