Word: mistrust
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Last week brought good and realistic news to all those advocates of hemisphere solidarity who fear that the phrase may remain only a phrase. Mistrust of U.S. intentions, plus mistrust of U.S. ability to take effective military action in the far south, had hitherto hampered U.S. efforts to get military cooperation from those countries which lie south of the Tropic of Capricorn. Last fortnight Argentina's Foreign Minister Emeritus, Carlos Saavedra Lamas, urged a conference of Foreign Ministers of the 21 American republics to agree on plans for common defense (TIME, June 16). Last week such a conference seemed...
Railroad bonds rose even farther than stocks. Such second-rate liens as Missouri-Kansas-Texas (Katy) 4s and 4 1/2s, Southern Pacific 45, were bought in large blocks. Thanks to Wall Street's year-old mistrust of the defense boom, the abrupt conclusion of which might send many railroads into bankruptcy, these bonds could be bought at prices to yield as much as 20%. Wall Street still distrusts the boom. But it could not overlook the rising curve of railroad traffic...
Tough luck dogged the inexperienced Scripps boys from the start. Drastic salary cuts (excepting their own) and mutual mistrust soured their employe relations. A Seattle Guild strike heavily sapped circulation and advertising; they had to pay seven months' back wages besides. Fumbling editorial policy cost still more heavily. In order to pay the installments due Sanders, they had to sell two profitmakers, the Portland News-Telegram and the San Luis Obispo Telegram-Tribune...
...does it mean that they are particularly vulnerable to meaningless vehemence and invective. . . . The Latin American cannot be expected to react exactly as we do because he lacks 1) firsthand experience of the sustained and healthy functioning of democracy, 2) the fundamental mistrust of Hitler's word, fed in North Americans by the feeling of intimacy with the tragedies of Czecho-Slovakia, Poland, etc., given us by our press, our great magazines, our radio, which after all have no true counterpart even in the wealthiest metropolitan centres [in South America], and 3) sentiment or love of any kind...
...temporary prosperity stimulated by rearmament "will leave us with our economic problems worse than ever because we failed to set our house in order before the boom started." Thus the recent sluggishness of the stockmarket, despite soaring production indices, is evidently deeply rooted in Management's long-range mistrust of the defense hypodermic. This mistrust was confirmed by the Forum's feeling on whether now is a good time for business to expand: 26% thought expan sion unjustified by present conditions, 61% saw it justified in war industries only...