Word: mutuals
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Dates: during 1930-1939
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...Italy to endure without armed retort economic & financial sanctions which the League of Nations must impose or utterly lose face; 3) France and Britain to block the League from voting military or naval sanctions and participate in an "open door" exploitation of Ethiopia in their "spheres of influence"; 4) mutual understanding that there will be cheating all round on the "economic sanctions," with European States who have wares to sell to the belligerents disposing of them through private smugglers, these to take their chances of being caught and punished...
...realtors?farm boys who had gone to the city, worked hard, saved their money and by shrewd investment piled up about $500,000 between them. Then they got into railroads, purchasing the decrepit Nickel Plate. By 1929, not long before they took their first & only vacation, they estimated their mutual fortune at $100,000,000. From their adjoining offices on the 36th floor of their Terminal Tower building they directed coal mines, trucking companies, street car lines, $150,000,000 worth of real estate and 23,000 miles of railroad?largest personally-controlled railroad system in the U. S. Last...
...small, nervous promoter named Charles George Pfab. Few of them knew that versatile Mr. Pfab was a registered pharmacist, a onetime professional baseballer, an organizer of a Denver insurance company. They did know that Promoter Pfab's current venture was the high-sounding National Educators' Mutual Association, which sold ''endowment bonds" to teachers. The Pfab scheme was simple and forthright, if not generous. In return for $750 in cash, a teacher would receive a bond redeemable in ten years for $1,000 in cash plus five shares of stock in the Association. To lend prestige...
Stormed SEC: "In this 'mutual' enterprise, profits go to promoters and advisers in the ratio of approximately 60% and to the investing 'bondholders' in the ratio of approximately 40%! No array of locally prominent names should be allowed to conceal these facts...
...sooner had Representative O'Connor got well started toward headlines, investigating the mutual accusations of Representative Brewster and Brain Truster Tom Corcoran, than Senator Black stole the front page from him by a more spectacular investigation of fake telegrams from Pennsylvania (TIME, July...