Word: prewar
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...Morgan & Cie., a name prestigious in French banking since the days of the Franco-Prussian War, last week reopened as an investment banking house. The reappearance of Morgan & Cie.,* complete with tellers' cages of gilded wrought iron, will remind a privileged minority of middle-aged Americans of the prewar years when Morgan's in Paris not only tended its clients' investments, but held their mail, minded their children, and saw their maids and steamer trunks safely into the Ritz across the square...
...chilling wind, a damp slurry of mud and snow. The city was dark, and the shops were sparsely stocked. Only sign of the holiday season was the Weihnachtsmarkt (Christmas market) set up near the Sportsplatz. Here a seedy collection of carnival rides attempted gaiety to the music of a prewar Harry James record. Pathetic crowds surrounded the few booths selling candied apples or thin bits of herring on hard rolls. Missing was the pungent smell of broiling sausage, for an epidemic of foot-and-mouth disease has made meat, and especially beef, scarce in East Germany. Across the street from...
...reach this moment, she has had to shed more than the memory of her early career. She was born in Vienna before World War II, when the city was still trying to be gay. Her mother, Magda Schneider, was a weepy, waltzy actress who was the Jeanette MacDonald of prewar Austria. Her father, Wolf Albach-Retty, was a celebrated actor, and is still a staple of the Vienna Volkstheater. Now divorced, the couple in those days had a retreat at Berchtesgaden, where Romy (a contraction of Rose-Marie) was raised by grandparents. There she playacted alone before her mother...
...Publicly supported secondary education was so selective that only one child in eight got any. The historic Education Act of 1944 established free secondary schooling for all. Now 80% of university students come from state schools and only 20% from private schools-reversing the prewar proportions. Yet all this is far short of the country's growing needs. Nearly two-thirds of all students still quit school at 15 because compulsory attendance still ends at that age. And even while launching mass education, elite-minded England has clung to the idea that only a few children are academically educable...
Profits into Write-Offs. Depreciation charges have risen for a number of reasons. They were relatively low in 1948 because businessmen then were "writing-off" depreciation expenses on machinery that they had bought at relatively low prewar prices; lately businessmen have been depreciating much costlier postwar equipment. In addition, the laws have been greatly liberalized since 1948 to allow businessmen to take bigger write-offs over briefer periods, and thus charge off against "depreciation" a lot of income that otherwise would have been counted as straight, taxable profit...