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...potatoes and maybe a little bag of onions." Friends still recall seeing young John McCormack crouched on a curbstone, reading by the flickering light of a gas street lamp. He devoured dozens of Dick Merriwell* adventures, and he retains a reverence for the rags-to-riches novels of Horatio Alger. "Parents," he says, "should make Horatio Alger stories must reading for their children. They build fine character...

Author: /time Magazine | Title: The Congress: Mr. Speaker | 1/19/1962 | See Source »

...Good as the Count's. The life of Samuel Henry Kress could have been written by Horatio Alger, except for the fact that Kress never married the boss's daughter. Born in Cherryville. Pa., in 1863, he grew up a bookish boy who at 17 landed a teaching job in Slatington, six miles away. Kress's salary was only $25 a month, but he managed to save up enough money to open a novelty store in Nanticoke. Before long, he had a wholesale house in Wilkes Barre. By the time he died in 1955, there were...

Author: /time Magazine | Title: Art: Dime-Store Santa | 12/22/1961 | See Source »

...jovial hero of this Horatio Alger story is Charles W. Lubin, 58, president of the Kitchens of Sara Lee. Like all Alger heroes, Lubin ascribes his success to a simple formula: Lubin makes what Lubin likes. What stocky Charley Lubin likes are diet-defying coffee cakes, cheesecakes, chocolate cakes and pound cakes-all loaded with calorie-packed butter and topped wherever possible with sugar icings and pecans. And Lubin's taste for rich, high-quality baked goods is clearly widely shared. Now the most profitable subsidiary of Chicago's Consolidated Foods Corp. (other brands: Monarch, Hires), Sara...

Author: /time Magazine | Title: Corporations: A Baker's Millions | 12/15/1961 | See Source »

Mattei's companion on the river was Charles Forte, 53, an Italian-born British citizen whose creation of a vast snack bar chain has made him one of the few Horatio Algers in Britain's welfare state. Last week, thanks to his angling with Mattei, Forte had a new job: the chairmanship of A.G.I.P. (Great Britain) Ltd., a new E.N.I. marketing subsidiary to which Mattei has given $8,400,000 and orders to build a chain of 70 super service stations in Britain...

Author: /time Magazine | Title: Business Abroad: Invader from Italy | 12/1/1961 | See Source »

...other hand, the great Protestant teachers were wary of wealth and worldliness. Diligence and thrift they enjoined, writes Samuelsson, but so did Roman Catholics in the same mercantile age. And thrift did not make capitalism; it was enterprise that founded the great fortunes and industries. Even Horatio Alger, Samuelsson points out, always had his pious little lads get into the big money by "a gigantic inheritance, left to his hero by some previously unknown relative, or a gift from a multimillionaire who felt the virtuous boy to be worthy of a reward. Thrift and diligence were adequate instruments for winning...

Author: /time Magazine | Title: Religion: Protestantism & Capitalism | 10/20/1961 | See Source »

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