Word: gay
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Dates: during 1930-1939
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...Edwin F. Gay, Henry Lee professor of Economic History, and one of the world's outstanding authorities on the development of modern economic theory, has resigned from the Harvard faculty and will be Professor Emeritus effective September 1, 1936. He is 69 years...
...from $188 per share in September 1929 to $11 in 1930. The insolvency record of the furniture industry went from 79 manufacturers with total liabilities of $3,710,000 in 1929 to 143 manufacturers with liabilities of $11,223,000 in 1932. Included in the latter figure was Berkey & Gay, which closed down its plants in 1931, went into receivership in February...
...never really believed it. It was certainly not the fault of Grand Rapids, said its citizens, but of the evil loose in the world and the merchandising policies of Simmons. In 1934 the City of Grand Rapids hired an industrial engineer to survey the possibilities of reopening Berkey & Gay. Grand Rapids businessmen went into a huddle with promoters. Promoter Frank Donald McKay, who had worked in Grand Rapids furniture factories as a boy. had a long string of organizations and reorganizations to his credit. Poker-faced, astute, potent in Michigan politics, he served as State Treasurer (1924-30), says that...
Promoter McKay and his partner, Abe Dembinsky, onetime Detroit auctioneer, bought the $2,000,000 Berkey & Gay property last spring for $75,000 in cash and assumption of tax liabilities amounting to $180,000. They sounded out the old dealers who had held Berkey & Gay franchises, found 124 of them ready to give estimates of a year's requirements. Collecting old-time Berkey & Gay officers for the new company, they hired 300 men to open up one plant last autumn, floated $1,600,000 in new stock, started commercial production last April...
...rehabilitated Berkey & Gay's first showing last fortnight went more than 700 furniture buyers, nearly three times as many as Grand Rapids drew last year, seven times as many as in 1934. Once indifferent to functionalism, Berkey & Gay had recognized the market for modern stuff (27% of all furniture sold last year) by adding to its period reproductions a line of moderns in "softer form, with sweeping rather than boxlike lines." Promoter McKay, now Berkey & Gay's board chairman, became a hero to Grand Rapids. Enough orders were placed to keep his newly-employed workmen busy for five...