Word: money
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Dates: during 1930-1939
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...years Josephine Roche and other officers lent money to the company to pay interest on its $3,971,000 bonded debt. Some five years ago Miss Roche stepped out of the presidency to become Assistant Secretary of the U. S. Treasury, turned over the job of running the company to able J. Paul Peabody. Last year, after his death, she returned to the job, later asked bondholders to take interest cuts in their R. M. F. 5s. They refused...
...their $267,000 on deposit. To its depositors, the bank promised full payment, to its stockholders, the $10,000 capital they put up 33 years ago to found the bank, plus $21,000 surplus and undivided profits, $11,000 in real estate. Yawning, the local farmers let their money be, figuring that they would take their 2½% interest as long as possible...
Last week grey-haired C. C. Cook, first and only cashier of the Booneville bank, got sore. He announced that the bank would pay no interest after June 30. If they still refused to come for their money, he threatened to mail it to them by check...
...this year's end, air-minded Bishop Sheil expects to have three more big runways, a 180-acre improved landing field, an approved CAA flying school rating and an Illinois State license to confer Bachelor of Science degrees on his first graduating class in 1940. Current expense money comes partly from Holy Name's own farm produce, partly from the coffers of the Catholic Youth Organization (also founded by Bishop Sheil...
...these are all reprints. What cheap-book advocates want to know is why original editions cannot be sold for less than $2.50 to $5. Again publishers have a ready answer: they cannot sell big enough editions (50,000 copies) to make money. Once they tried it. In 1930 four Manhattan publishers-Doubleday, Farrar & Rinehart, Simon & Schuster, Coward-McCann-published some first editions at $1 to $1.50. They sold more copies, but lost money, dropped the experiment. To break even on a $2.50 novel, publishers figure they must sell at least 2,500 copies. On this number, they figure average costs...