Word: flynn
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Dates: during 1930-1939
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Shipping men, John T. Flynn explains, have a special word for graft-"Cumshaw." When a captain, after being entertained lavishly by a chandler, gives an order to him, it is "Cumshaw...
...Cumshaw" is not of course limited to the sea. Big graft and little graft run through the entire commercial structure. In Graft in Business, published last week by Vanguard Press ($3), Author Flynn goes into the matter. Part of the book deals with petty graft by corporation officials, tells of no practices one does not know or suspect to exist. Typical example : a Victor Talking Machine Co. superintendent who changed glue brands when offered a 5% commission...
...greater part of the book deals with what Mr. Flynn thinks are corporate practices. Such famed cases are cited as the Chicago, Milwaukee & St. Paul Railroad scandals of 1925, the St. Louis & San Francisco revelations of 1913, the Good year Tire & Rubber reorganization in 1921. Modern examples are the Bethlehem bonus system, the Loft, Inc. management troubles in 1930, the Bank of United States failure and the fall of Banker Rogers Caldwell. Cyrus Stephen Eaton's recently shaken corporate pyra mid is also discussed adversely...
While the story Mr. Flynn tells is true he offers no alluring remedies. He does, however, make a few improving suggestions. Among these: that corporations should adopt uniform accounting methods (a suggestion made last week by Gerard Swope-see p. 16); that lists of stockholders should be made public; that directors should be drafted from genuine investors in the company, not tycoons who may have other interests at heart or who pay no attention to the position. He would have no holding companies, would have no company own stock in another except in rare cases. As for general Cumshavian tendencies...
Married. Mrs. Nora Langhorne Phipps, youngest of the five famed Langhorne sisters of Virginia who inspired the (Charles Dana) Gibson Girl* and Maurice Bennett ("Lefty"') Flynn, Yaleman, onetime All-American football star, thrice before married and divorced (Irene Claire, Blanche Shrove Palmer, Cinemactress Viola Dana); in London. Mrs. Flynn knew her husband in Oregon many years ago, was not divorced from British Architect Paul Phipps until last month in London. A zealous photographer who sought to photograph bride & groom was knocked out by husky Mr. Flynn...