Word: pecora
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Ferdinand Pecora, Inquisitor of the Senate's Banking and Currency Committee, last week found that Edsel Ford did not make an exciting witness. Son Ford, a director of the Guardian Detroit Union Group, owner of 50,000 shares of its stock, was exceedingly vague about what had gone on officially. Typical questions & answers...
...Pecora: Did you attend meetings of the board of directors at which the conditions of the banks were discussed...
...Pecora: Were you . . . active in the discharge of your duties as a bank director...
Comedy is the keynote of the 1934 Follies. As a New York Mayor in the reviewing stand, Willie Howard notes the absence of photographers ("Is Eleanor Roosevelt in town?"), the Republican delegation ("Where is he?"), the marching bankers with "angina Pecora." But the show belongs mostly to Miss Brice. Older and heavier, she uses her kangaroo lollop and wry mouth as trademarks for a great human personality. All her songs are written by her third husband, Billy Rose. In a pinafore she repeats her radio performance of "Snooks," the problem child of a George Washington descendant who tries to cure...
Dividends, In a short time, however. Inquisitor Pecora was making Mr. Lord uncomfortable. "The units of this group were milked to pay dividends," Mr. Pecora declared, "when earnings did not justify the dividends." Mr. Lord protested. Promptly Mr. Pecora produced "form letters" nearly identical in language written by Mr. Lord to presidents of the Group's banks. One such: "To provide for the dividend requirements of the Guardian Detroit Union Group, Inc. on the basis of an annual disbursement of $3.20 a share, a dividend should be declared at the June meeting of your board of directors. I would...