Word: planning
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Dates: during 1920-1929
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Significance. Heretofore the I. C. C., by rejecting merger proposals, has been telling carriers how they might not consolidate. Its own plan serves to show roads how they now may. The Commission has no power to compel roads to merge in accordance with its plan, which it frankly states is subject to "modification." Since rail consolidations became a public policy in 1920, grave doubts have arisen as to their present necessity. Carriers have improved financially by leaps and bounds, with few weak roads needing the aid of strong ones. The agitation in Congress for additional consolidation legislation is designed...
Reactions. Western senators raised a great hue and cry against the proposed marriage of the Great Northern and Northern Pacific, claiming it would eliminate all competition. Chairman-elect McManamy concurred in the general plan "only because I expect economy and efficiency of operation to be promoted by the gigantic systems proposed. . . . We should not, to open the door to lawful consolidations, propose consolidations which are themselves unlawful and that I think we have done...
Reminding its readers that J. P. Morgan & Co. will launch the long awaited German Reparations Bonds, soon after the Young Plan comes into effect (TIME, June 10, et seq.), Tageblatt intimated that should Dillon, Read beat their "rivals" to the Stock Exchange with an $100,000,000 German loan, subsequent Morgan pickings from Reparations Bonds might verge upon the loan. According to the "dope" Dr. Schacht was persuaded to obstruct the loan by Seymour Parker Gilbert, whose post as Agent General of Reparations will automatically be abolished when the Young Plan comes into effect. For years Germans have been hearing...
...Largest British tin smelter is Williams, Harvey & Co., controlled by the Patino Mines and Enterprises, Consolidated (TIME, Dec. 16). Last week Williams, Harvey & Co. joined with three other large British tin smelters in a provisional plan to form the largest tin smelting organization in the world. Behind the consolidation is seen the influence of Patino, the Anglo-Oriental tin interests, and the new Tin Producers' Association. From this merger which affects about half the world's tin supply, is expected to come the long-awaited stabilization of tin production and price, one of the purposes...
Says Author Faÿ: "The secret of Franklin was his memory and his shrewd cleverness. It was easy for him to recall the slightest detail of even distant events, and he had a plan for everything." In spite of his careful creed of moderation, Ben was "cheerful and fond of good living, a hearty drinker and a good story teller." Also, though Author Faÿ does not labor the point, Ben had little saintliness in his blood: in 1785 he had a great-grandson, the illegitimate son of the illegitimate son of his illegitimate son. Author Faÿ, ironic...