Word: ince
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Dates: during 1930-1939
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...aggressive Mr. Cadle made a good thing of the oldtime religion, today drives a Cadillac, owns an airplane. In his People's Church, Inc. his son, Buford, 29, is business manager, his daughter, Helen Cadle Major, 26, office manager, his daughter, Virginia Ann, 16, director of young people's activities. Operating expenses of the Tabernacle and radio programs, which bring in 4,000 letters a week, come to $100,000 a year. The Church's motto is: "No creed but Christ, no law but love, no Book but the Bible." No donations are refused. The Cadle...
Last week in Manhattan, the directors of Hearst Consolidated Publications Inc. faced their gravest crisis since the company was formed in 1930. Hearst Consolidated (which controls 13 of the 20 Hearstpapers, plus the American Weekly), had passed three consecutive quarterly dividends on its 7% Class A (preferred) stock. If it passed the fourth, due March 15, control of the most valuable Hearst newspaper properties could go out of the hands of Hearstmen and into the hands of some 50,000 small stockholders, who put up $50,000,000 for what Mr. Hearst assured them nine years ago was "an ultra...
Hearst Consolidated and almost everything else Hearst owns are controlled by American Newspapers Inc., top holding company of the bewildering Hearst corporate hierarchy. Mr. Hearst owns 95% of its common stock, but Judge Shearn is his sole voting trustee. As trustee he has irrevocable control over all Hearst enterprises-provided he can keep the Consolidated preferred stockholders happy-until 1947, when Hearst will be 84. Nobody, not even Hearst, knows if Hearst will live that long, and so the trusteeship is a race against death, when the Government may demand up to 20% in inheritance taxes and creditors...
...down his bonded indebtedness he floated stock. In 1930, when San Francisco Lawyer John Francis Neylan was his counsel, Hearst lumped together his six West Coast papers (on which he had previously borrowed $20,000,000), four other profitable newspapers and the superprofitable American Weekly into Hearst Consolidated Publications Inc. He valued "circulation, press franchises, libraries, etc." at $75,000,000, and with a barrage of publicity denouncing phony stock schemes sold $50,000,000 worth of preferred stock to the public...
...business advice, ex-Social Worker Hopkins relies on President William Loren Batt of SKF Industries, Inc., Treasurer Beardsley Ruml of R. H. Macy & Co. and Chairman W. Averell Harriman of Union Pacific R. R. Dynamic Mr. Batt is an expert on scientific management; jovial Mr. Ruml used to be dean of the social sciences at the University of Chicago; swank Mr. Harriman, long interested in the New Deal, chairmans the Commerce Department's Business Advisory Council. Last week he flew to Des Moines from his Union Pacific's Sun Valley playground, on Harry Hopkins' advice...