Word: hoarded
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Gimbels' venture in art selling started last winter when the agents in charge of William Randolph Hearst's art hoard cast about for some method of converting it quickly into cash. Dr. Armand Hammer, head of Manhattan's Hammer Galleries, gave them the idea of selling it through a department store. So successful was the Hearst sale that Gimbels decided to keep on selling big art collections on consignment, put ace Art Salesman Hammer in charge...
Reason for this extreme action was to hoard all U.S. silk supplies for military use (chiefly powder bags and parachutes). At month's end visible supplies were 47,000 bales. Last week the crack Japanese liner Tatuta Maru, after much legal backing & filling, unloaded its 5.568 bales on San Francisco docks (see cut). Five other ships added another 11,000 bales, bringing U.S. supplies to 63,000 bales. This was about three months' civilian supply. It would fill all defense needs, said the Army, for two years...
...Hull, has an agreement with Admiral Georges Robert, High Commissioner for French Territories in the Western Hemisphere, which: 1) provides "certain guaranties" regarding movements of French ships in U.S. waters; 2) commits France to notify the U.S. in advance concerning any shipment of the estimated $200,000,000 gold hoard from the Bank of France, now stored in the fortress at Martinique; 3) allows the U.S. to patrol the neighborhood of France's Caribbean islands by ship and plane...
Most visitors thought they were a little queer. But connoisseurs soon found that the Landis brothers' hoard contained the largest and most complete collection of Pennsylvania-Dutch arts and crafts in existence, and the Oberlaender Trust decided to build a museum on the farm where scholars and tourists might see what Henner and George had collected...
...raising the value of its gold hoard, the government can make another tremendous paper profit to fill the hole in the budget left by deficit financing. Thus in 1933 F. D. R. made $2,800,000,000 by reducing the gold in the dollar to fifty-nine cents. $675,000,000 of that sum has already been used to wipe out part of the government debt; and the rest has been allocated to our Exchange Stabilization Fund. Suppose, though, that the President lowered the gold in the dollar to twenty or even to ten cents. F. D. R. might...