Word: one-fourth
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...Morgan & Co. had set out to buy U. S. Steel stock until steel securities made up one-fourth of its assets or the price of steel was $129 a share, the result would have been similar: The House of Morgan would have found itself alone in buying what everybody else was eager to sell at such prices. And if Morgan & Co., finding it was being made a monkey of, suddenly ceased buying, the bottom would have dropped out of the market for steel shares. Had that happened the Securities & Exchange Commission would have descended on Morgan & Co. with severe reproaches...
Sorriest Class I railroad in the U. S. is Minneapolis & St. Louis ("The Peoria Gateway"). It has been in receivership for twelve years, owes accumulated interest equal to one-fourth of its assets, which are largely nominal, and is still indebted to the Government for loans from the Wartime Director General of Railroads. In desperation RF Chairman Jesse Jones proposed to partition M. & St. L. among eight more solvent neighbors (TIME, Oct. 29). Last week after a year of dickering, the eight systems petitioned the Interstate Commerce for permission to start carving...
...could count on all his fingers and toes only one-fourth of all the holding and operating companies which Promoter Harley Lyman Clarke put under the control of Utilities Power & Light Corp. of Chicago. Serving 550 communities in the U. S., 488 in England and Wales. 31 in Canada, Utilities Power & Light is, however, not the apex of Promoter Clarke's classic pyramid. Its control rests in a small issue of voting stock held by a super holding company called Public Utilities Securities Corp. which in turn is controlled by a super-super holding company. Grand Potentate of them...
...premium makers succeeded in keeping no-premium clauses out of all except the Bakers and Oil Codes, are currently thriving. Another boon that has helped loft premium sales in the past two years from $250,000,000 to $400,000,000 annually is radio promotion, which now accounts for one-fourth of all thingumabobs distributed...
...strict line of New York State's insurance laws-as Superintendent George Slingerland Van Schaick (pronounced Skoik) found out. For also under his supervision were the big mortgage companies that cracked up after the 1933 Bank Moratorium with scandalous reverberations (TIME, Aug. 14, 1933). Having reorganized nearly one-fourth of the $800,000,000 guaranteed mortgages which his department had to take over. Superintendent Van Schaick retired to his law practice in Rochester, N. Y., which he left unwillingly in 1931 at Governor Roosevelt's request...