Word: ince
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Dates: during 1930-1939
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Another $3,000,000 is needed to pay off short-term notes sold to Halsey, Stuart & Co. last month. Two-thirds of this money was borrowed not for the use of the borrower. Hearst Magazines, but to re-lend upstream to American Newspapers. Inc. The rest of the money borrowed from Halsey, Stuart was applied as a down payment on a Manhattan building owned by Hearst's New York Evening Journal-but leased by Hearst Magazines. Full price for the building is $3,253,000, which is $500,000 more than the appraised value. This inflated price is justified...
...latest move in the simplification program is to lump the same Hearst Consolidated properties, with one exception-the profitable New York Evening Journal-in a wholly-owned subsidiary called Hearst Publications, Inc., which now proposes to offer $22,500,000 worth of bonds to the public. Nearly all the proceeds will be used to pay off bank loans and refund old bond issues, many carrying William Randolph Hearst's personal guarantee...
...interesting as the intricate paths of Hearst finance were the tabulations on the state of typical Hearstpapers.* Six of the nine dailies now included in Hearst publications, Inc. made less money last year than ten years ago, the exceptions being the Oakland Post-Enquirer, Los Angeles Evening Herald & Express and the Detroit Times. Four made less money last year than five years ago in the deep of Depression, and six showed circulation losses since 1932. Most conspicuous loser was the Seattle Post-Intelligencer, which has shown operating losses every year since 1929. Definitely on the down grade is the Chicago...
Newspaper operating profits are figured before interest, taxes and various other charges. Last year after all charges Hearst Publications as a whole earned only $2,372,000, a slight gain over the year before but under the figure for 1934. Not the least startling item in Hearst Publications, Inc.'s accounting is the principal tangible asset-$37,000,000 due from its parent company, Hearst Consolidated Publications. A footnote explains that most of that item once represented money due from another Hearst company. When Hearst Consolidated was formed in 1930, it assumed the debt in part payment for stock...
...Wenatchee, Wash., because it "held thousands of skilled apple workers in the Wenatchee Valley up to ridicule and contempt," the Chamber of Commerce petitioned the Motion Picture Producers and Distributors of America Inc. for elimination from the screen of the term "apple-knocker...