Word: investors
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Dates: during 1930-1939
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...have been watching with great interest the fight being waged against public utility holding company legislation. I have watched the use of investors' money to make the investor believe that the efforts of government to protect him are designed to defraud him. I have seen much of the propaganda . . . to exploit the most far-fetched and fallacious fears . . . enough to be as unimpressed by it as I was by the similar effort to stir up the country against the Securities Exchange bill last spring...
...fertilizer who can turn their production to explosives at a moment's notice, and automobile manufacturers who can make armored cars and tanks, and even the owners of oil wells and wheat fields, which are no less essential in wartime? Speaking of this problem as it affects the investor who is looking over his portfolio of stocks, Mr. Callender says, "it is difficult to find an industry that would not in some way contribute to success in war, directly or indirectly; and there seems more idealism than logic in the attitude of those who would shun he making of bombs...
Though the certificates are traded like a common stock, no investor has ever received one cent in dividends. The trustees have always applied the income from oil royalties, leases and the sale of land and lots to buying in and canceling outstanding certificates. Last week the trustees reported that income last year was up 48% to $458,000, of which only $41,000 was from land sales. More than half the income was used to buy in certificates...
...possibilities of this sort of levy are immense. In a large inflation, a rich man might have the greater part of his fortune expropriated. In an inflation such as the one Germany passed through after the war, even a small investor would suffer. If he owned a gold ring worth a little over a mark, he would make a mark profit of over a trillion marks, on which he would have to pay the tax. No wonder the threat of inflation scares American property-holders and forms a definite deterrent to recovery...
...Investor Clark, in Paris, freely admitted trying to get General Butler to use his influence with the Legion against dollar devaluation, but stoutly declared: "I am neither a Fascist nor a Communist, but an American." He threatened a libel suit "unless the whole affair is relegated to the funny sheets by Sunday...