Word: prospectuses
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...North Atlantic shipping. For $35,000,000 I. M. M. tossed it out to Lord Kylsant's Royal Mail Steam Packet Co. (chartered by Queen Victoria) in 1926. After towering Lord Kylsant ("Lord of the Seven Seas") was convicted of selling Royal Mail stock with a fraudulent prospectus, White Star bulked large in the scrambled affairs of fallen Royal Mail. Still owed to I. M. M. on the purchase price was (and is) $11,000,000. Like most transatlantic lines White Star was running in the red. Reports that Lord Essendon's Furness, Withy or Cunard were dickering...
From Wormwood Scrubs Prison, London, emerged Convict No. 2,715 to become again Owen Cosby Philipps, 1st Baron Kylsant of Carmarthen. His sentence of one year, for sponsoring a misleading stock prospectus, had begun last November, was shortened for good behavior. The towering baron?he is 6 ft. 7 in. long but last week looked bowed and broken? was met by Lady Kylsant who escorted him by motor first to their May fair home, thence to their Welsh estate at Coomb Llangain, Carmarthen, where loyal villagers had erected a laurel arch. Some 40 villagers hooked ropes to His Lord-ship...
...look twice at any international gold brick which the Yazoos of New York and the Yapoos of Washington offer us. We bought one in 1917 and another in 1928 and hardly have we begun to pay for them than another is presented with the same glib prospectus...
...felt news needed organizing into sharply defined departments. More, it needed simplifying, abbreviating, so that the significant facts and the colorful de tails would stand out and be seen. . [He also] wrote into the prospectus that TIME would be edited in the historical spirit. It would be a magazine for those who came late to the human ball game, even for a man from Mars, with a succinct account of what happened in the opening innings, in what town, league, country and year the game was being played, and with a few hints, as polite and helpful as possible...
Baron Kylsant of Carmarthen, former chairman of Royal Mail Steam Packet Co. sentenced to jail for a year for sponsoring a misleading stock prospectus (TIME, Nov. 16), refused to eat or take exercise, was placed in an observation cell...