Word: generalizes
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Dates: during 1930-1939
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...fact that at the end of the quarter which showed this 110% increase in earnings, stock prices were unsteady and only 33% up from the same date a year ago. A further tip-off came from several companies' sharply curtailed budgets for capital investment in new plants. General Motors will invest $10,000,000 for expansion, a little more for improvement, in 1939 against $60,000,000 for expansion and improvement in 1937. U. S. Steel will invest $25,000,000 against $67,000,000 in "the major depression year...
Motors were the quarter's most dramatic performers. Chrysler doubled sales, General Motors spurted 47%, and, with this improvement as a lever, both sextupled profits over 1938. Both companies nowadays need only a few months of fair business in any year to roll up what most of the U. S. regards as a boom year's profits. With increased volume G. M.'s quarter's earnings ($53,178.000) amounted to 14.4% of sales, compared to 3.3% a year ago. This was a clue to other earnings, for when G. M. earns only 3.3% on sales...
Mail Order. Another pair of high earn ers were Sears, Roebuck and Montgomery Ward. Both mail-order houses now obtain 50 to 60% of their sales as department stores. Although department store sales in general are running barely ahead of last year, chain groceries about 5% higher, Sears and Montgomery Ward were 20% ahead of 1938 in April. On this increase in volume, Sears' Chairman Robert E. Wood (who plays along with the New Deal) estimates his company will more than double the $7,000,000 profits earned in the 1938 first quarter; Montgomery Ward's Chairman Sewell...
...when the airline business suddenly looked good, Partner John D. Hertz (Yellow Cab Co.) of Lehman Bros, joined with Floyd Odium's Atlas Corp. to purchase 81,204 shares of T. W. A. from General Motors at some $14.50 a share. This 13% interest gave them operating control. Next year T. W. A. made $205,000 and its stockclimbed to $27.50. But in 1937 T.W.A. lost $959,000, in 1938 $773,000. Its stock dropped to $4, was last week at $8 when Lehman Bros, announced with an audible sigh of relief that it had sold out to Jack...
...legitimacy of university tutoring has recently been reviewed by the Harvard Crimson and, as the system is conducted there, found to be a definite evil. With a request to other Harvard publications to refuse tutoring school advertisements the Cambridge daily formally declared war on the system in general. . . . Not content with discreet announcements, high pressure advertising is brought into use (but the tutoring schools) inferring that he who studies is a sucker and which includes a cocktail party for freshmen. . . . Having as an example the mild form of the system as it exists here and at New Haven the editorial...