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...went to Fordham University and his middle name is Power. Last week William Power Maloney obtained a $4,500,000 mail fraud indictment against three young Yalemen, 49 other individuals and 20 corporations-biggest mail fraud indictment in U. S. history. Smartest of the three Yalemen was Wallace G. Garland, Class of 1925 (Sheffield). Member of a solid Pittsburgh family, he was not a conspicuous undergraduate except as a brilliant student. Even Professor Irving Fisher liked his original notions on business and economics. But Yaleman Garland's notions were far more original than Professor Fisher ever suspected. While still...

Author: /time Magazine | Title: Business: Yaleman | 11/18/1935 | See Source »

Before Automatic Signal had sold a single light, Yaleman Garland decided to give his heretical business theories a thorough workout. At a pen's stroke he wrote up the value of the patent to a flat $1,000,000. Then he transferred the patent to a new concern of his own, granting the original operating company a manufacturing license, carried on their books at $3,250,000. Affiliates, dummies, acceptance companies, holding companies, securities companies began to sprout like weeds. And the patent was given another boost, this time...

Author: /time Magazine | Title: Business: Yaleman | 11/18/1935 | See Source »

That was too heretical for even old Professor Fisher, who is a stanch advocate of the commodity ("rubber") dollar. To please his patron, Yaleman Garland revalued the patent at $5,000,000. Automatic Signal prospered modestly, is still a going concern. Still board chairman is spare, white-goateed Professor Irving Fisher. Yaleman Garland withdrew into the mysteries of his 30 new corporations...

Author: /time Magazine | Title: Business: Yaleman | 11/18/1935 | See Source »

Elected provisional members at the trials of the Instrumental Clubs Thursday evening were the following: Edward K. Bennett, Jr. '38, Allen W. Clowes '39, Alfred H. Corbett '37, John A. Day '37, William A. Dickson '36, Guy Garland '36, Robert Haydock...

Author: NO WRITER ATTRIBUTED | Title: Choose Instrumentalists | 10/5/1935 | See Source »

Feeble indeed was the seed from which the colony had sprung. One night last year a registered nurse named William Garland Hoffman, having failed at dairy farming in Washington State, sat down at his kitchen table and wrote Administrator Hopkins a letter. He proposed that the Government set him and eight fellow Seventh Day Adventists up as farmers in Alaska. Though Mr. Hopkins replied enthusiastically. Nurse Hoffman soon lost heart. But his small seed had fallen on fertile ground. From New Deal minds, notably that of Assistant FERAdministrator Lawrence Westbrook, there shortly sprang full-blown a scheme for transplanting Depression...

Author: /time Magazine | Title: RELIEF: Woe in the Wilderness | 7/1/1935 | See Source »

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