Word: orders
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Dates: during 1930-1939
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...name of the new church. In many a locality where the work of the three late churches had overlapped, there would be mergers, although the Conference had warned against "hasty action for financial reasons." In truth, however, the Conference had itself performed some hasty actions for financial reasons-in order to adjourn before its Conference treasury was exhausted. In slapping together the nation's biggest Protestant church (8,000,000 members), it had settled, with a minimum of debate, matters which may need further attention at its General Conference next year...
Last week, this bit of history was memorable for Ford was again dangling an order before the trade, an order for only 5.000 tons, only an hour's run for the industry's continuous mills. But such was the state of the steel industry that the offer was demoralizing. Youngstown Sheet & Tube allegedly nibbled first, offering Ford a $2 a ton cut. He held out, won a reduction twice as big, added insult to injury by splitting the bone he was throwing seven different ways, so that no plant got more than a sniff of business...
...answer the point with an investigation which is not yet completed. The American Institute of Accountants, chief C.P.A. professional association, also launched an investigation. Last week it issued its report, tantamount to an order to all Institute Accountants from now on. Its chief decision: that good auditing procedure calls for actual corroboration of inventories by physical tests, heretofore usually done only on specific request by the company...
...does not. Accountants therefore certify that X had a large profit, Y only that realized on dividends. X's stock rises on the news and Y's falls. The financiers then sell their X stock at a profit, reinvest it in the depressed Y stock. Then they order Y to realize its profits by selling its portfolio. When the accountants certify this profit, Y's stock rises, giving the unscrupulous financiers a profit at other stockholders' expense...
...York Bureau of Municipal Research. A belligerent champion of civil liberties and academic freedom, Beard was a scorching critic of post-War red-hunting. When, in 1933, Missouri Pacific Railroad went bankrupt, Beard, a small bondholder, heard that the House of Morgan was withholding interest pending a court order. "Preposterous," Beard wrote, "you have my money. Send it to me." When they refused, Beard forced a Congressional investigation, collected his interest...