Word: plowed
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...Peek, like NRA's General Johnson with whom he was once a partner in the Moline Plow Co., is rated a "Baruch man." Ever since President Roosevelt gave him the AAA he has been fighting clear of the Braintrusters who stood close to Mr. Wallace in the Department of Agriculture-Assistant Secretary Tugwell, Columbia professor, and AAA Counsel Jerome Frank, disciple of Felix Frankfurter. They favored restricting production, holding down the profits of processors and distributors. Their aim was not just recovery for the farmers but a radical step: permanent "socialization" of the processing and distributing business. When they...
...Willys-Overland Co. took over Moline Plow Co., made George Peek president at $100,000 a year. President Peek made Hugh Johnson, whom he had met with Bernard Baruch on the War Industries Board, his chief counsel. When New York and Chicago bankers took over the liquidation of the concern, Mr. Peek was asked to resign. He did so but later sued for future salary under his contract and recovered several hundred thousand dollars. General Johnson stayed behind, while Peek, now independently wealthy, went into a cornstalk processing concern which left him more time for his life hobby, farm relief...
George Peek was born 59 years ago at Polo, Ill. His sympathy for farmers was not acquired wholly as result of his experience in the plow business, where he found that "you can't make a nickel off of a busted customer." Still clear in his mind is the picture of his family's eviction from their farm at Polo when the mortgage was foreclosed. In 1922, year before he left the Moline Plow Co., he and Hugh Johnson wrote a pamphlet called Equality for Agriculture which, like the later McNary-Haugen bill, permitted the farmer to grow...
...undeniable muscular ague. Banking recovery has lagged so far behind industrial stimulus as to produce a dangerous gap in credit; Mr. Ickes, in however small a way, is flying directly in the face of economic reason, and building for us bathos. Let the errant horses be yoked to the plow, and the dilatory horses spurred into life, or more than the cotton will be turned under the sod. POLLUX...
...Before the turn of the year Deposit Insurance Corp., created by the National Banking Act of 1933, must plow through the books of the 14,000 banks that are expected to apply for participation in the deposit insurance plan (TIME, Sept. 18). D. I. C. will requisition all Federal Reserve and national bank examiners, is counting on the services of all U. S. clearing house examiners. Last week to supplement this army of examiners, D. I. C. asked the banks to loan it 2,500 smart credit...