Word: lordly
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Dates: during 1920-1929
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...Were warned by Hero-Admiral Earl Beatty, Commander of the British Grand Fleet (1916-19), First Sea Lord (1919-27), "our situation with regard to cruisers is indeed serious...
That such a tremendous company should again face depression indicated to British financiers that the "Lord of the Seven Seas" had placed his K upon some orders that were unwise. Especially did this seem plausible in view of the belief that Lord Kylsant is paid not a salary nor a percentage of the profits, but a percentage of the gross. Thus more ships, more lines, terrific expansion, would have brought more pounds sterling into the Kylsant coffers even if they brought less to the Royal Mail treasury. And, according to Scandal, last week's trouble indicated that of late...
That all was not well in Royal Mail was indicated when early this year the common stock began a decline that carried it from a high of 76 (shillings) to 55. Then, while the stock dropped abruptly to 44, Lord Kylsant's brother. Viscount St. Davids, publicly accused him of mismanagement...
...explanation Lord Kylsant said that "public attacks" had hurt the company although its earnings for this year would be as large as during 1928. Yet canny Londoners, awaiting the auditor's report, were inclined to believe Viscount St. Davids' attack upon his brother had been more than a family squabble. For Lord Kylsant's official statement included the phrases: "write off . . . for estimated shrinkage (under present conditions in heavy British industries) of investments in other than shipping companies." These "investments" were guessed to be the base of Viscount St. Davids' anger, were seen to be unwise and unwarranted uses...
...rates. Last week's lowering of the Bank of England's discount rate to 5% and the shipment of $21,000,000 gold from New York were bullish items on the London market but could not compensate for the collapse in the gigantic Royal Mail and doubts concerning Kylsant, "Lord of the Seven Seas...