Word: levelers
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Dates: during 1930-1939
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...moderator Dr. Oscar Edward Maurer, pastor of the New Haven, Conn. Center Church and long a member of the denominational boards Mr. Babson has been attacking. Undiscouraged, Roger Babson demanded an increase in the salaries of 75% of the church's pastors ("to raise them to the level of bricklayers'"), called for a vote on his plan to give the 6,000 Congregational and Christian churches in the U. S. a delegate to the council. Thereupon sober churchmen resorted to a mediator. They succeeded in suppressing a sharp reply to Mr. Babson, which had been printed for distribution...
This meant cuts of from $2.50 to $8.50 a ton, brought prices back to the pre-1928 days. As striking as this news was another aspect of the reduction: prices at Big Steel's Birmingham and Chicago plants were for the first time lowered to the Pittsburgh level. Announced reason for the change: "Increased production facilities and greater diversification of products" in these two steel centres. To the steel trade, however, it meant that Big Steel, sniped at by non-union independents since it made a wage contract with C.I.O. and pinched by their price concessions had finally abandoned...
...others Philip Morris relies on its good dealer relations to maintain the 15? price. This price stability assures dealers their approximate 2? per pack profit margin with Philip Morris and they tend to push it harder, give it better displays, etc. Conversely, with its prices rigid at a high level, Philip Morris has more money per cigaret to spend on tobacco and manufacture. Even so, it probably could not have gone over but for two circumstances at its birth. After years of pushing Melachrinos, Rube and Mac had first-name friendships in most of the nation's tobacco stores...
...policy of being a one-man arbiter of everything. He extended the bonus system to the whole company. As the only major executive in the country with leaf-buying, manufacturing and selling experience he was a logical choice as McKitterick's successor. And as the cool, careful, level-headed type he was well fitted to guide Philip Morris from a small unit with big ideas to actual bigness...
...such level of eloquence and penetration as James's monograph, Author Armstrong's biography is nevertheless written with care and understanding. Her subject is a "natural," and, thanks to the fact that she quotes liberally from Fanny Kemble 's own vivid journals, the result ably suggests the reanimating qualities that inspired James's enthusiasm...