Word: interest
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Dates: during 1930-1939
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...East 178th Street. If you did not know them well, you might easily have confused Philip Orlovsky, onetime clothing workers union official (now in the textile-shrinking business), and Irving (Isadore) Penn, 42, royalties manager for G. Schirmer, Inc., music publishers. A jolly homebody with no interest outside of his family (wife & two children), music publishing (he was up to $4,200-a-year from office boy after 22 years) and the New York Giants. Mr. Penn stood 5 ft. 8 in., weighed 240 lb.; Mr Orlovsky, 5 ft. 6 in., 260 lb. Each used to leave home for work...
Against such a background neither Mr. Nash nor his Labor Government was expected to get much sympathy from London's big financiers, who are far more interested in interest payments than in social experiments. The liberal British weekly New Statesman and Nation likened Mr. Nash in the City (London's Wall Street) to Daniel in the lions' den, recalled how badly both the British Labor Government of 1929-31 and the French Popular Front Government of 1936-38 had fared at the hands of the big bankers. There were predictions that before Mr. Nash could renew...
...from office boy to publisher of the Bayonne, N. J., Times, bought the Staten Island, N. Y., Advance and made it pay, reached out to acquire the Jamaica Long Island Press, the Long Island City Star-Journal, the Newark, N. J., Ledger. He was quietly buying an interest in the doddering Syracuse Herald when he heard about the Hearst-Burrill negotiations. Seeing a chance to control the evening field in Syracuse, Publisher Newhouse persuaded his backers to put up more money, offered $975,000 for the Journal and American, got them quick from the delighted Hearstians...
Certainly no new capital is now going willingly into the banking business, which can hardly earn a living at present interest rates. Chairman Crowley proposed to prepare against future crises by boosting its rate of assessment against insured bank deposits. This would of course further reduce bank earnings, further reduce the chances of getting any new capital into the banking business...
...myth, pettifogging historians have had hard work making it dull reading. Sometimes Author Pratt labors harder than he needs to keep it lively. But when he lets the legend tell itself, adding only his "worm's-eye view" (sidelights from old memoirs, letters, newssheets), he rivets readers' interest as easily as if he were pointing to a comet...