Word: pyrrhic
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...handle; like Mr. Krueger, he suffered from a continual embarras de richesses, and was, in boom times, hard put to it in his effort to use the money which flowed into his hands. To this difficulty Mr. Insull was, however, equal; there was the Colorado River Dam, and the pyrrhic battle with Cyrus Eaton: The difficulty to which he was unequal was that of liquidation. As an expert in money and banking, Mr. Insull knew that liquidation, on a large scale, is a witless feat which no one who lends money has a right to expect, and, if the demand...
...Bethlehem-Youngstown merger that blasted his fame & fortune. He wanted Youngstown for his own big Republic Steel but the battle was fought in the name of industrial independence for the Midwest. To finance that battle Continental Shares pledged most of its assets for bank loans. The Eaton victory was Pyrrhic. By 1931 slumping stock prices pushed his loans under water and Cleveland bankers ousted him as president in favor of George Taylor Bishop, a semi-retired financier. Cyrus Eaton disappeared from the headlines as completely as if he had died. Last week bushy-browed old President Bishop was making...
...those of any other man. At Geneva the British Foreign Secretary suavely brought the League Assembly around to a certain way of looking at the Sino-Japanese situation. This viewpoint approximated that of President Hoover and Secretary Stimson. Meanwhile at Shanghai, where the Japanese victory had become embarrassingly pyrrhic (see p. 16), worried Japanese generals, admirals and diplomats flocked around the British Minister, Sir Miles Wedderburn Lampson, who was, of course, under orders from his chief, Sir John Simon...
...East. Last December when he broke the proposed merger between Bethlehem Steel Corp. and Youngstown Sheet & Tube Co. by one of the bitterest and most expensive lawsuits in history, the whole nation looked on and Cyrus Eaton stood at the height of his fame. But it proved a Pyrrhic victory, which left the conqueror too weak to continue the fight. Reverses came thick and fast. In April, Continental Shares, Inc. announced the retirement of Mr. Eaton from its chairmanship and the severance of its connection with Otis & Co. (TIME, May 4, 1931). The same week, expansive E. A. Pierce...
There are without doubt large numbers of people in this country, although perhaps a distinct minority, who, convinced that even the triumphs of war are Pyrrhic victories feel a moral obligation to refuse to fight. By uniting these men, the "Youth's Peace Federation" may weld together an important force for the prevention of war. In any case, the Federation has contributed much to the cause of peace by adding its weight to the growing movement of "militant pacifism...