Word: putnam
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Dates: during 1950-1959
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Investments in the University's 300-year-old endowment fund reached a new maximum, $309,000,000, last June 30. A statement released by the Putnam Management Company, manager of the George Putnam Fund of Boston, showed an increase of $35,000,000 over the preceding year...
...contract for a $1.90 wage boost is not inflationary-"it is pure as a sheep's heart." The WSB ruling is "contemptible." WSB Chairman Archibald Cox, "the little Harvard professor," and his associates formed a "cabal to steal 40? a day from each mine worker." Economic Stabilizer Roger Putnam, who applauded the WSB ruling, shows a "sadistic trait," for he is "robbing miners' babies of life-giving milk...
...coal mine operators, urged on and joined by Lewis, petitioned Putnam to overrule the WSB and grant the full $1.90 raise...
Economic Stabilization Administrator Roger Putnam, who had tried vainly to get the WSB to postpone its decision for further study, put the best face on the decision when it came and acclaimed the board's "real courage." Lewis lumbered into a strategy huddle with his top aides, lumbered out again to deliver his pro-Democrat oration as promised ("cast aside and push away . . . the alluring Republican names"), without a mention of the WSB decision...
...effects of the steel boost are still to come. Economic Stabilizer Roger Putnam, pooh-poohing talk that all prices will shoot up, said he had a plan whereby users would absorb the increases, thus "eliminating any need for increasing prices to consumers." Putnam soon discovered his plan was economic nonsense. Many small fabricators have such small profit margins any further absorption of costs would force them out of business. As a result, the stabilizers, who already have been flooded with requests for price increases to compensate for the steel rise, started looking for a face-saving formula which would...