Word: interest
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Dates: during 1930-1939
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...friend to many a secular bigwig in Washington, including Franklin D. Roosevelt. Last December the Bishop, with his good friend Rev. Dr. Maurice S. Sheehy, head of the University's religious education department, called upon President Roosevelt at the White House. Ensued some joking about a mutual interest of the President and the prelate-deep-sea fishing. Then, with the blessings of the White House and the U. S. State Department, Bishop Ryan and Father Sheehy departed on a four-week, 18,000-mile airplane trip around South America (TIME...
Today, and for 18 years past, the subway has been a rat hole into which Cincinnati's tax money has been poured at the rate of more than $1,000 a day in bond interest. By the time its bonds finally fall due, in 1967, the Cincinnati subway will have cost $19,000,000. It has never carried a passenger. Once during a bitter Depression winter, a score of shivering hoboes holed up in one of its diggings, until they were driven out by the police. But no tracks were ever laid in its 2.6 miles of underground...
Most ski addicts can trace their initial interest in the sport to the spellbinding ski jumps seen in the newsreels. But they soon learned that ski jumping could not be mastered in "ten easy lessons." Last week, when the national ski-jumping champion ships were held at St. Paul, only a few natives were good enough to enter the Class A competition...
...hard-pressed Harrison Williams had sold nearly half his holdings for a mere $28,000,000. His remaining 51% control of Central States, through a bizarre series of other holding companies, gave him a net interest of 18.3% in North American. This is the sort of setup the Public Utility Holding Company ("death sentence") Act of 1935 was specifically designed to alter. Shrewd Harrison Williams was the first of the major utility tycoons to submit to its painful yoke, and North American registered with SEC in February 1937. By last fall when SEC finally forced the rest of the industry...
...lopped off the top last December by selling enough North American common to reduce his interest to less than 10%. Last week the pyramid was cut to two-story height. To liquidate North American Edison Co., huge intermediary holding company between it and the actual operating companies, and to refund some of its own outstanding obligations, North American Co. offered $70,000,000 worth of debentures and $34,829,000 in $50 par value preferred stock. A syndicate of 127 underwriters headed by Dillon, Read & Co. sold the issues like hot cakes...