Word: presents
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Dates: during 1920-1929
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...sales of the two stores are expected to reach $140,000,000. The 1928 net income of the combination was approximately $10,000,000, of which Macy's contributed $7,566,194 and Bamberger's $2,915,375. The two stores will each continue its present staff and policies?Bamberger's, for example, will continue to give charge accounts; Macy's will hold to its 71-year-old cash-only system...
...were last week cheered by the decision of Erie directors to pay a $2 semi-annual dividend. It was the first time that Erie preferred had paid a dividend since 1907. The common has never paid a dividend, but common dividends may soon be declared if Erie's present earnings continue...
Rowland Hussey Macy, Nantucket Quaker, Gold Rush Forty-Niner, whaling captain and grocery store owner, founded Macy's in 1858. The original Macy store (14th St. and Sixth Avenue) embodied present Macy policies of a cash business and "odd" prices (9¢ and 18¢ rather than 10¢ and 20¢). In 1874 Lazarus Straus, who had come to the U. S. as a refugee after the German revolution of 1848, leased part of Macy's basement and opened a crockery store. Captain Macy died in 1877, and until 1888 junior partners carried on the business. In 1888 control passed to Nathan...
...Present head of Macy's is Jesse Isidor Straus, who always wishes to have his middle name written in full out of respect to the memory of his father. Purchasing Bamberger's was a logical step because, situated on the west side of Manhattan, many a Macy customer is a New Jerseyite and the two great stores were competing ever more keenly. Friends of Mr. Straus twittingly asked whether he bought Bamberger's with the discount at which Macy's aims to sell all merchandise...
Wabash Plan. The opening of the present week saw another disturbance of the rail status quo, and again the movement was pro-Pennsylvania and anti-Baltimore & Ohio. The Wabash Railway proposed a plan which aimed at creating a 7,044-mile system with the 2,400-mile Wabash as a nucleus. Major links in the proposed Wabash chain were the Pittsburgh & West Virginia, Wheeling & Lake Erie, Western Maryland, Lehigh Valley. The Wabash plan clashes with the Baltimore & Ohio plan (TIME, March 4) at almost every conceivable point. In the first place, the Wabash itself was the most vital unit...