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This sort of forthright reorganization is almost unprecedented in U. S. railroad history. Before Depression I railroads went through reorganization much as a snake sheds its skin, with bondholders forced to split the loss with stockholders and with railroads often left in just as bad a fix when the shedding was over. After the Federal Bankruptcy Act was amended in 1933 to give ICC power to supervise or rewrite reorganization plans and to allow roads to continue operating with their debts in a sort of suspended animation (Section 77), there came a complete cessation of reorganizations. For nearly five years...

Author: /time Magazine | Title: CARRIERS: Realistic Relation | 10/31/1938 | See Source »

...Biblical subjects in U.S. painting. In Manhattan's Whitney Museum last week an exhibition of paintings by artists west of the Mississippi proved noteworthy chiefly for Missourian Thomas Benton's Susanna and the Elders, a Western version of a sultry incident from the Old Testament.* Composed in forthright Artist Benton's usual robustious arabesques, it gave a timeless answer to critics who have chided "U.S. Scene" painters with an inability to work nudes into their hayseed subject matter...

Author: /time Magazine | Title: Art: Biblical Benton | 10/24/1938 | See Source »

Last week the reformers finally forced the Old Guard to capitulate and offered a plan genuinely patterned on that devised by the Conway Committee for the Big Board, including paid president, public representation, democratic committee rule. This time SEC Chairman Douglas commented: "Forthright and realistic." Curb members, who are voting officially this week, showed their sentiments by accepting the plan 275-to-1 in a straw poll which was still incomplete at week...

Author: /time Magazine | Title: Business: Forthright and Realistic | 10/17/1938 | See Source »

Working through the University's extension department, with the help of its big, forthright director, Rev. Dr. Moses Mathias Coady, Father Tompkins preached the doctrines of cooperation so effectively that Nova Scotia today has 142 flourishing credit unions (small banks with revolving funds), 42 cooperative stores, 28 cooperative lobster and fish processing plants...

Author: /time Magazine | Title: Religion: In Antigonish | 8/29/1938 | See Source »

...forthright, plainspoken, sharp-eyed teacher who preferred playing the cello to painting, warned his students that he could read their thoughts from the colors they used. His method was to place a model on the beach, so that the brilliant background of sky and water forced students to see the head merely as a spot of color. He then gave students a big, broad-edged putty knife and a square of building board, and urged them to study color rather than drawing. "Painting is just getting one spot of color in relation to another spot of color," he would...

Author: /time Magazine | Title: Art: Mudheads | 8/1/1938 | See Source »

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