Word: reporter
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Dates: during 1930-1939
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School superintendents favor Federal aid for schools as naturally as businessmen favor more and better business. Hence, they were well pleased with the recent report of Franklin Roosevelt's Advisory Committee on Education. That committee, to overcome the long-standing objection of Catholics to Federal aid, incorporated in its recommendations a proviso that Federal money be also made available for the education of children in parochial schools (TIME, Mar. 7). To Protestant educators, who hate and fear Catholic influence in education, that recommendation last week was like a red flag...
Desperately seeking to avoid an open fight on the convention floor, the Association's officials brought in to the final session a resolution ducking a commitment on specific Federal aid legislation until after study of the Reeves Committee's full report, not yet published. Unappeased, Professor Strayer strode to the auditorium platform to again demand "separation of Church and State," boomed: "If this movement develops sufficient strength, we may find ourselves in the not distant future committed to a program which will deny to the people the control of their schools." But he made no effort to amend...
...monopolies go, American Telephone & Telegraph Co. is probably the best run and most benevolent in the U. S. Nonetheless, Congress in the last three years has appropriated $1,500,000 for an A. T. & T. investigation. Hearings ended last summer and last week the Federal Communications Commission report was in the hands of Chairman Frank R. McNinch, almost ready to be submitted to Congress. Therefore, in making his annual report last week, A. T. & T. President Walter S. Gifford took care to get his word in first. "This country," observed Mr. Gifford, "is entitled in good times...
Aside from this subdued snort of annoyance, President Gifford's report was confined to a dispassionate summary of the activities of the world's largest communications company. Excerpts: In 1937 it earned $182,342,866 ($9.76 a share) against $184,744,464 ($9.89 a share) in 1936. It thus barely covered the $9 annual dividend it paid last year for the 16th successive year. Total operating revenues increased 5.7% to $1,051,379,343 , but total operating expenses increased 7.5% to $708,479,450. This fact, plus the gradual dwindling of business toward the end of the year...
...brokers could not believe their ears. Indeed, as the report shot through Wall Street it was not believed until the Stock Exchange issued a public statement. For Richard Whitney was the Depression president of the Stock Exchange, is a brother of Morgan Partner George Whitney. Richard Whitney & Co. had always been known as "the Morgan brokers." It was in behalf of a Morgan banking group that Richard Whitney strode across the floor to U. S. Steel post on a dark day in 1929 to bid $2.05 per share for 25,000 shares of steel -15 points above the market. That...