Word: defict
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Major General Lewis B. Hershey predicted yesterday that a new draft call may be necessary to fill a 25,000 man defict in the armed services...
While it is impossible not to admire the political astuteness of the veteran senator, it seems transparently obvious that "trust-busting" is not of such pressing importance as issues suggested by colonel Roosevelt's reply. The defict, taxation, Bureaucracy, unemployment--to name only a few--loom larger on the political horizon. Senator Borah did a public service when he attacked the NRA from the standpoint of free competition. But by helping to clip the eagle's wings, he destroyed in large part the value of his present thesis...
Probably the most funereal note struck in the business world lately was the Central Leather Co. statement. Operations during the calendar year of 1923 showed an unexpectedly heavy defict of $7,272,243, compared with a surplus of $1,528,209 in 1922. But in 1920 a deficit of $25,751,666 occurred, followed by another of $11,651,425 in 1921, so that the Company's profit and loss deficit Dec. 31, 1923, was $12,637,851. Last year, operations did not even cover expenses, and interest on bonds was paid out of surplus. Common and preferred dividends...
...survey of annual deficits of leading symphony orchestras (TiME, Feb. 11) stated that most of the defict of the Minneapolis Orchestra was met by one guarantee. This is not the case...
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