Word: hoxsey
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...fellow who ended his formal schooling after the eighth grade, Harry M. (for Mathias) Hoxsey, 52, has made quite a name for himself in the world of medicine. His formula for success: a mixture of roots, water and licorice, labeled Hoxsey Tonic and sold in 16-oz. bottles to thousands as a remedy for cancer...
...became one of the two or three prime U. S. authorities on utility depreciation. For ten years he was first vice president and treasurer of Southern Bell Telephone & Telegraph Co. in Atlanta. Now in his eleventh year as executive assistant to the Stock Exchange Committee on Stock List, Mr. Hoxsey leads a meticulously rational life. Before taking up contract four years ago he made a close study of all the systems, decided that Milton Work's was the best. When he saw the Culbertsons beat this system he suffered the pangs of the defeated. His forehead cupped with silver...
Whitney's admission that he could not recall any Exchange discussions of the problem of listing holding company securities, nor had he read the 1926 Hoxsey memorandum on this subject which the Senator so admired. Mr. Whitney pointed out that this memorandum, written four years before he was elected Exchange president, had been a "confidential report" to the Committee on Stock List. Senator Wheeler was unappeased. Broker Whitney: "I really did quite a bit of work at the Exchange." Senator Wheeler: ''I must confess I am surprised...
...type of holding company then blossoming in utilities and later exemplified in railroading by the Van Sweringen companies, Mr. Hoxsey had described in his memorandum as "necessarily bad ... a mere exploitation of what may be termed the surplus earnings of the operating companies during periods of prosperity ... a temptation to rape the subsidiaries for the benefit of the holding company." Senator Wheeler read aloud Mr. Hoxsey's reasons for the indictment of such companies: "Financially and economically, because a small and normal variation in the rate of return on the property of the operating subsidiaries makes a large...
Broker Whitney: "I want to disabuse your mind of any thought I did not concur in the memorandum, because I do. The Exchange is very proud of the fact that it was able to secure the services of Mr. Hoxsey...