Word: mortgagees
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Dates: during 1930-1939
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Outside the small, chaste chamber that once used to house the Senate there was one question which, if put to any of the nine black-robed Justices on the bench, would have resulted in a summary contempt of court citation. The question: Will the Supreme Court follow the election returns...
State Cases. No important case involving President Roosevelt's New Deal has yet been decided by the Supreme Court, though a few state laws paralleling New Deal measures have. Minnesota passed a law whereunder, if a landowner defaulted on his mortgage, the mortgagee could not foreclose for a period of two years. The Supreme Court in that case held that, in an emergency, a state had the power to set aside contracts. Again New York passed a law providing for minimum milk prices. Twice the Supreme Court has upheld the State's power. Apparently the majority...
It is quite possible that a liberal justice would vote to give California Convict Tom Mooney a hearing (as the Supreme Court did last fortnight) or to uphold a state mortgage moratorium law and then balk at the idea of pensioning all aged railroad employes, fixing the price of ice...
* In 1919 the New York Yankees paid $125,000 and took over a mortgage on Fenway Park, in exchange for Babe Ruth. In 1933 the Chicago Cubs paid $125,000 for Chuck Klein.
¶ Last week the bonds of the biggest locomotive maker in the U. S. plunged downward 29 points. Baldwin Locomotive has not made a profit since 1930 but at the beginning of the Depression its financial position was considered impregnable. Last week President George Houston regretfully announced that the company...