Word: lowering
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Dates: during 1930-1939
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...Manhattan. Assisted by Secretary of the Treasury Morgenthau, he arranged for a Coast Guard automobile to carry him to Floyd Bennett Field. There, swaddled in a heavy flying suit and parachute, he boarded a Coast Guard amphibian which shortly deposited him beside the harbor tug Manhattan in the lower bay off Quarantine. Taken to the Carinthia by the tug, he bounded blithely up the gangway, scowled blackly when he ran square into a bevy of newshawks. Backing away, his fists clenched, he snorted to photographers : "No pictures ! I'm warning...
...were spending as much money on operations as they spent in 1929, receiverships would now be almost universal. They have, however, made extraordinary reductions in operating expenses. In 1934 maintenance charges were $1,000,000,000 under their 1929 total, and transportation costs were almost $1,000,000,000 lower than the boom-time figure. But when nearly $3,000,000,000 are taken off receipts and less than $2,000,000,000 off costs, the railroads are still about $1,000,000,000 under prosperity levels. And bonds clamor for interest in even the worst of times. The fixed...
Rate Reduction. The I.C.C. based its order cutting the base rate from 3.6? per mile and eliminating Pullman surcharges, on the theory that railway passenger travel, decimated by the automobile, would be partially restored by the lower fare, and that the extra volume of traffic would more than compensate for the lower rate. The I.C.C. declared that since 1926, railroads in general have made no money on passengers, that they lost $200,000,000 a year on passenger traffic in 1931, 1932 and 1933. I.C.C. figures showed that in 1922 the railroads carried 537,000,000 passengers, in 1934 they...
Very little was said about John Consumer, who is the chief beneficiary of the lower prices made possible by mass buying. Smart, efficient independent merchants, able to offer quality and service which chains cannot afford to provide, do not worry about chain-store competition. But merchants of this type are rare. And while the ethics of chain-store purchasing are certainly elastic, the average storekeeper merely wants his competitive position restored without improving his merchandising methods-at the consumer's expense...
...made 116,900% on his money in the last ten years is Climax Molybdenum Co., world's largest producer of that elemental metal. In 1926 Climax stock could have been bought for 10? per share. Even as late as 1932 it changed hands at $1 per share-perhaps lower, for the stock has never been listed, was then unknown even to over-the-counter traders. Next year it sold as high as $15. By last October it was selling in the 80's, when the stockholders voted a three-for-one split. The new stock continued to climb...