Word: profitability
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Dates: during 1930-1939
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...historically-dubious idea that wars are started for profit has long obsessed a group of Senators including Washington's Homer Bone, North Dakota's Gerald P. ("Neutrality") Nye, Missouri's Bennett Clark, Michigan's Arthur Vandenberg. "To keep democracy alive, and for other purposes," these gentlemen and 46 cosigners last week outdid themselves by sponsoring a war-tax measure written by little, pinch-faced Senator Bone...
Jimmy Hines's father was a master horseshoer in Manhattan. To profit by shoeing police and fire horses, he had to be close to the Tammany machine. His shop was a hangout for neighborhood politicians and young Jimmy, who at 14 quit eighth grade to start working in the shop, soon learned about precinct politics...
While the WPAsters still worked on at their regular $94-a-month salary, the Illinois Symphony actually began to pile up a profit at the box office. The size of this profit put it in a different class from most other WPA orchestras, enabled it to pay the high performance royalties asked by such ace contemporary composers as Dmitri Shostakovich, Serge Prokofieff, Paul Hindemith, Jean Sibelius...
Joseph Buchhalter, who was also cited last week, is a onetime Denver commodity trader and real estate dealer who devised a scheme for profiting from Henry Wallace's "ever-normal granary" program. Ihe Buchhalter plan entailed simultaneously going short and long on wheat contracts (buying and selling at the same price). Then if the price rose 1?, the profit was immediately realized on the long side while the short was kept open until the price permitted it also to be closed out at a profit. Since the ever-normal-granary program was expected to stabilize wheat prices...
Last week the Department of Agriculture announced that its Commodity Exchange Administration had found that of the 48 accounts operating under the scheme 42 had a closed profit aggregating $18,253 but all 48 had a total unrealized loss of $45,218. The owners of the accounts had been told only of the profitable deals. Indignant denials of fraud followed CEA's setting of hearings for March...