Word: profiteer
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Dates: during 1930-1939
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...boss of an incredibly disjointed network sweeping across the U. S. from Boston to Los Angeles, flown by an assortment of Condors, Vultees, Stinsons, and generally regarded in aviation as the weakest of the big lines. Last year, by contrast, American was the only transcontinental line to show a profit-$213,000-while its two competitors, United and TWA, lost $997,000 and $773,000 respectively. American is today the biggest and fastest-growing airline in the U. S. In the first four months of 1939 its passenger revenue was 26% over a year...
American's stock, with 290,000 outstanding shares (biggest single owner, Errett Cord: 20,000 shares), is considerably smaller than the average issue admitted to the Big Board. And American, having been listed on the Curb only three years, has neither the profit record nor the "seasoning" that has traditionally been required for Stock Exchange listing. But the exchange was glad to list American as the largest unit of a growing industry. American is glad to have the more active market on the Big Board, for it may be obliged to issue more shares to improve its current weak...
...International Harvester at 60. His twin puts $30,000 into International Harvester at 30, it rises to 60, and he keeps it. Each started with the same amount in cash, each ended with 1,000 shares of International Harvester, but according to accounting practice, one had $30,000 profit and the other none...
...group of financiers forms two identical investment trusts, each with identical portfolios. After a market rise, Trust X realizes its profits by selling its securities, but Trust Y does not. Accountants therefore certify that X had a large profit, Y only that realized on dividends. X's stock rises on the news and Y's falls. The financiers then sell their X stock at a profit, reinvest it in the depressed Y stock. Then they order Y to realize its profits by selling its portfolio. When the accountants certify this profit, Y's stock rises, giving...
...copper-riveted, rock-ribbed, Mark Hanna, true-blue" Republican who prospered as building contractor, ran a bank, read the classics, raised his family on a farm to develop their backbone. At 18 Charles Beard owned a country weekly, the graduation gift of his father, ran it at a profit for four years. At Methodist DePauw College his extracurricular activities included reporting for a Republican newspaper, electioneering for a Republican Senator, first exposure to the rising Progressive movement...