Word: power
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Dates: during 1920-1929
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...newspapers (notably Chicago's Tribune, Manhattan's Times) own their own paper mills. Most newsprint is bought from the great International (more than twice as big as its nearest competitor), from Great Northern Paper Co., Canada Power & Paper Corp., Abitibi Power & Paper Co. International is not making money on its pulp product but it denied last week that it was planning a price rise, professed ignorance of what the publishers' resolution might mean...
Thirteen Padlocks. On every drawer of the new Cash Register are U. S. padlocks. Thirteen of the 60 articles in the Statute were drawn wholly or in part to protect the U. S. Federal Reserve, which, under Article Twenty, has power to veto any dollar transactions contemplated in any country by the Bank. Getting this clause adopted was the major triumph at Baden-Baden of the two U. S. representatives, short, stocky Jackson Eli Reynolds and lanky, drawling Melvin Alva ("Mel") Traylor, presidents of the First National Banks of New York and Chicago, respectively...
Some of the U. S. safeguards are one-way padlocks. Thus, the U. S. will not be officially a party to the founding of the Bank, but may at any future time receive all the rights of a Founder Power by assuming responsibilities which the Hoover Administration declines to undertake. Most of the rights in question are secured to the U. S. anyway by the "Veto Clause" (Article Twenty...
Chairman? Chairman? As the delegates left Baden-Baden, New York's Jackson Eli Reynolds, though he had served as Chairman of the Conference with brilliant, driving power, was not mentioned as prospective Chairman of the Bank. Taciturn in the extreme with correspondents, he had earned their ire. He would not even give out the text of the Statutes, forced them to get it from Germany's offish Schacht, usually the closest oyster at any conference. Perhaps in irritation the newshawks made little of the fact that Mr. Reynolds went straight from Baden-Baden to Paris for a conference with representatives...
...Holy See gave no sign, unless an article in the Papal daily L'Osservatore Romano could be called such. In an article flaying "Market Vampires and , Exploiters," Editor Count Dalla Torte lamented that "the fate of the great world of investors is left to the caprice and enchanted power of a handful of men who caused the world to be shaken between 10 a. m. and noon." No libeller, the Count did not name any particular Wall Street operator as a vampire of enchanted power...