Word: indirections
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Hard times reacted last week to the peculiar benefit of the Treasury Departmen and thereby to the indirect benefit of every U. S. citizen. It was possible for Secretary Mellon to execute a major refunding maneuver with exceptional profit. He offered for public subscription a $325,000,000 issue of one-year Treasury certificates. Because of "easy money" resulting from the plenitude of investment capital, he set the interest rate at 2⅜ %-a record low. In June 1929, he had had to pay as high as 5⅛% for his public borrowings. The previous record low rate...
...entrance of Mr. Hertz into the cab business was indirect, gradual. He began as a copyboy, became a sportswriter, then a manager of prizefighters, an automobile salesman, eventually an operator of private taxis for the Chicago Athletic Association. He started Walden W. Shaw Livery Co. (whited tires), later changed to Yellow Cab Manufacturing Co., founded the famed Hertz Drivurself Stations, Inc. When he started building cabs, he remembered having read that yellow possesses unusual visibility, stuck to that color. In 1925 he sold the manufacturing company to General Motors Corp., which changed the name to Yellow Truck & Coach Manufacturing...
...temperature. For the last six years measurements made at Washington and other stations showed a definite temperature movement up or down whenever solar radiation increased or decreased. With a change in solar radiation of only .8%, temperature was affected as much as 5° F. This effect must be indirect, must operate through some unknown atmospheric condition since at times a rise in radiation will lower temperature and at other times will raise it. More knowledge will furnish a means of forecasting weather months in advance...
Unlikely to forget the Johnstown Flood of 1889 is Jacob Leonard Replogle, potent retired U. S. steelmaker. The direct result of the flood upon 13-year-old Master Replogle was that he was carried several miles downstream, clinging to the onetime roof of his onetime home. The indirect result was that, his family penniless, he entered the steel industry as an office boy for Cambria Steel. Rapidly he climbed, his invention of a thread-rolling machine giving him additional impetus. In 1916, a director and member of the executive committee, he was instrumental in selling Cambria's control...
...Negotiations for a Gramophone-Graphophone merger were begun in 1929, reputedly under the direction of Morgan Partner Thomas Cochran, but Radio Corp.'s ownership of Victor Talking Ma-chine make it desirable for the English Columbia Graphophone to get rid of its U. S. Columbia Phonograph lest the indirect consolidation of Columbia Phonograph with Victor Talking Machine arouse U. S. anti-trust action...