Word: public
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Dates: during 1930-1939
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...Deal adviser. First evidence of Currie's growing technical weight in Washington came in the spring of 1938, when he wrote an influential memo on the Causes of the Recession. Its prime theses, now commonplace: 1) U. S. Social Security taxes took so much out of the public pocketbook that the Government's net contribution was reduced during the crucial March-September period in 1937 to a monthly average of $60,000,000 from $335,000,000 during 1936. 2) "Compensatory" Federal spending to stimulate heavy industry might be more flexible if concentrated "in large part outside...
...years the New York Stock Exchange has tried to put its best foot forward to the public. For six years the Exchange has wondered why its wooing has not produced a spark of reciprocal affection. Last week the Exchange hired Elmo Roper, chief researcher of FORTUNE'S famed polls of public opinion, for a special job: to find out what the middle and upper income people of the U. S. now think of the Exchange. Object: to improve its style of wooing...
...year of violent change for 63-year-old Boss Groesbeck. Its turning point was the Supreme Court's decision against Electric Bond & Share in its test case on the Public Utility Holding Company Act. Groesbeck saw the handwriting on the wall, quit beating his head against it. Promptly, Bond & Share registered with SEC. Holding company service subsidiaries had frequently been charged with bleeding operating companies. So Bond & Share forfeited all income (about $800,000 a year) from its management firm (Ebasco Services, Inc.), which began servicing the system's operating units at cost. Next, Groesbeck pulled...
During this retreat Groesbeck was not thinking of winning victories. He was thinking of saving his army. All through the winter, as he shuttled back & forth between Washington and Manhattan, Groesbeck wondered how he could get out from under, how he could forestall public agencies from building competitive transmission lines to his customers' doors...
Homeward bound on the Pennsylvania one night, an idea struck him. In the arid west, where the U. S. Bureau of Reclamation has for years provided water and sometimes generated power as a byproduct, Bond & Share units have bought this public power and transmitted it to their own customers over their own lines. Why could not Bond & Share keep Bonneville and Grand Coulee from building transmission lines by the same means? Why not buy their power and distribute it, dovetailing public power plants with private transmission lines and private meters...