Word: fiscal
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Dates: during 1930-1939
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...House of Morgan was not merely an Allied fiscal agent. Its partners, notably J. P. Morgan himself, the late Henry P. Davison and Thomas W. Lamont believed, long before the public did, that a defeat for the Allies would have been defeat for the U. S. (Said Partner Davison later: "Some of us in America realized that this was our war from the start") and bent their energies to help. When Allied purchasing agents in the U. S. began fruitlessly bidding against one another, the Morgans became central purchasing agent to the Allies, and Morgan Partner Edward R. Stettinius (whose...
Because the late great Leland Stanford had wisely willed his trustees great latitude in investment, Herbert Hoover and friends got permission to revise their portfolio. Meanwhile, many another trustee, bound by strict fiduciary laws and without latitude to switch to common stocks, faced an immediate menace: New Deal fiscal policy has reduced interest rates so low that with every refinancing the dollar yield of securities gets closer to the vanishing point...
...year General Manager Nolan took charge, the line's net income was $1,181,587, and its fixed charges were earned 1.61 times. At the end of the 1939 fiscal year, net income had hit $2,030,033 and the line had earned its charges 2.26 times. It also paid $743,022 in taxes. Its wage scale went up with income and today Detroit Street Railways' platform men, operating 1,269 busses, 1,302 streetcars, are paid an average of 81? an hour, highest...
...occupied. Fourth head of the 74-year-old Stetson business was robust, grey-haired, 43-year-old George L. Russell Jr., former vice president and treasurer. After a miserable 1938 with a net deficit of $413,534, he was recently able to announce for the first half of fiscal 1939 a net profit of $37,090. No. 1 rule of Stetson's Philadelphia office: no hatless man is allowed to come in the front door...
Pleasing as those figures were to natty Grover Whalen, they still left him with a big fiscal headache. In twelve weeks attendance totaled some 14,700,000 (including almost 3,500,000 free admissions), about half what he had hoped for. He had forecast a $4,000,000 loss if only 40,000,000 people came to the Fair the first year, a $1,000,000 profit on 50,000,000. With three months to go, it appeared that he would be lucky to get 30,000,000. Tip-off on his Big Show's fiscal status...