Word: firming
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Dates: during 1930-1939
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TIME errs in asserting (Nov. 2, p. 55) "there never was an N. W. Ayer in the old Philadelphia advertising firm of N. W. Ayer & Son." For nearly three years N. W. Ayer held a half interest. The business was founded in April 1869, by Francis Wayland Ayer who gave it his father's name, possibly as a personal tribute to his father, possibly because he himself barely turned 21, had less than a year's experience in business, and may have feared that his youth would count against him when he solicited business from Philadelphia merchants...
...question was presented to the public repeatedly, through voiced and printed arguments, until no opposition worthy of the name remained, Hearst papers, alone standing firm for the oath. Church groups sensed the beginning of mechanized thinking, labor leaders recognized a popular issue in time to support repeal, and the majority of the press was favorably inclined. The fundamental question, whether teachers can discuss changes in society, was somehow felt on all sides. Roosevelt, Landon, Smith have all opposed teachers' oaths, and now the Massachusetts legislature seems to be approaching agreement with them...
...Founder Goldman took his son-in-law, Samuel Sachs, into the business, and by the century's turn Goldman, Sachs & Co. was the largest commercial paper house in the land. It still is. The commercial paper business was the chief reason for the firm's emergence as the leading industrial banking house of pre-Depression days. As it is done now the commercial paper business consists of buying promissory notes direct from the borrower instead of secondhand. For corporations needing money for short periods, commercial paper is often cheaper than bank loans. This type of business keeps Goldman...
...Senate committee the firm reported a $12,000,000 loss for 1930. Rich, the firm stood the loss, tightened its belt for rehabilitation of its name. Of the three sons of Samuel Sachs, only one remained in the firm, Walter Edward Sachs, who sold his yacht and set to work on the wreckage. His brother Paul had long since retired to an art professorship at Harvard and an associate directorship of Harvard's Fogg Art Museum. Brother Arthur retired last year to the life he preferred in France. Dignified, cultured Walter Sachs, a Harvard classmate of Franklin D. Roosevelt...
Even more cheering last week to Walter Sachs and his partners than the proposed Sears underwriting was the final interment of Goldman Sachs Trading Corp. Though the firm was stuck by its own investment (originally $12,000,000) in that ill-fated venture, control was acquired by Floyd Odium's Atlas Corp., which changed the name to Pacific Eastern Corp. Last week in a corporate simplification program, Pacific Eastern was submerged into Atlas...