Word: firming
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Dates: during 1930-1939
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...rate that seldom fluctuated, little debt, conservative little Flemington, near New Jersey's western border, looked good to harassed Standard. Into the tiny law office of sedate, greying George K. Large (Princeton '99; former country judge) went a huge new safe to hold the oil firm's records of incorporation. Up went the town's ratables as Standard was assessed $45,000,000 in personal property, paid a $301,500 tax. Down dropped the 1938 tax rate from...
...Father have remarked that this 400-mile line is one of the straightest on earth. According to legend, the Tsar so ordered it by ruling a line on the map. According to Parry, Major Whistler's skill and economy had much to do with it. A firm Irish Yankee, he was amazed to find Russian engineers behaving like poets, actors, priests and revolutionaries (Dostoevsky graduated from the Imperial Engineering School in 1843). He proudly refused a commission in the Tsar's army, refused to say "Your Majesty" to Nicholas. Nicholas found him indispensable...
Year before World War I got going, tall, dignified Albert V. Moore, socialite, and squat, jib-nosed Emmet J. McCormack, ex-tugboat captain, tossed $5,000 into the pot and founded the shipping firm of Moore & McCormack (now Moore-McCormack Lines, Inc.). Two years later the shoestring firm bought its first ship for $90,000 (cash: $15,000), christened it the Moormack, put $185,000 worth of repairs into its hull and went after business. From that time on the history of Moore-McCormack is the history of most of today's U. S. merchant marine...
Riding the wartime shipping boom, the firm bought ten more ships, sometimes had as many as 50 more under charter and Government allotment. At war's end it sold the Moormack for $400,000, later snapped up the Government's offer to take its huge merchant marine off its hands at dirt cheap prices of $10 to $15 a deadweight ton. The advent of World War II found Moore-McCormack big and respectable (capital: $5,000,000), in hock to the Government and worried over what to do with the surplus ships that the provisions of the Neutrality...
...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...