Word: profit
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Dates: during 1930-1939
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...Profits. Two huge holding companies last week revealed proportionately huge profits. Transamerica Corp., holding company for the $1,167,116,000 worth of banks that Amadeo Peter Giannini managed to gather together before he retired this year, in its 1929 earnings statement, set down its net profit for the year at $67,316,000, or nearly $3 per share on the 24,000,000 shares outstanding (now selling at $26). However, the management holds "it would be lacking in ordinary business prudence" to ignore the current depression, plans to cut the October quarterly dividend from 40¢ to 25¢ a share...
Depression: "The world economic crisis is merely the last and worst of the periodic crises inevitable under the capitalist system, whose production invariably outruns the demand every ten years or so because the capitalist producers withhold the profits from the working population and the gradual accumulation of this mass of profit becomes, so to speak, 'frozen' at the end of each period?or is exported?whereas under the Socialist system every cent of 'profit' is returned to the workers, not only in the form of wages but in material and cultural construction. Thus in the Socialist state?in Soviet Russia?...
...these needs has now grown Aeronautical Radio Inc., a nonprofit company supported by the airlines to administer their radio operations much as (for profit) Radio Corp. serves U. S. steamships and Marconi serves British steamships. At the head of Aeronautical Radio Inc. is an able engineering son of an able engineering father: Herbert Clark Hoover...
Publisher William Randolph Hearst has always been the sole proprietor of his vast businesses. Last week he followed up his offer of employe-participation in Hearstpaper profits (TIME, June 30) by offering to the general public 2,000,000 shares of Hearst Consolidated Publications, Inc. 7% cumulative participating preferred stock at $25 a share. Another 2,000,000 shares of this stock will be authorized but not outstanding. The stock will be entitled to participate up to 3% per annum additional in extra profits after $1.75 is paid on 2,000,000 shares of Hearst consolidated common, the voting stock...
...Chesterfield cigarets have maintained that taste is the cigaret's vital quality, while Old Gold cigarets have compared themselves to Rudy Vallée, radio crooner, and many another swift and contemporaneous success, American Tobacco and Lucky Strikes lave been enjoying prosperity in an unprosperous season, have made profit in an unprofitable year...