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Dates: during 1920-1929
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...Agricultural commodities compared with industrial products, are not sufficiently protected from foreign competition, with the result that farm imports lower farm prices in the U. S., help create farm surpluses...
...Second Dawes Committee in Paris (TIME, Jan. 14 et seq.) which is trying to revise the Dawes Plan and decide how much Germany must eventually pay in reparations. Last week the "Iron Man" found himself deadlocked with the delegates of the Great Powers, who include John Pierpont Morgan. Result: Dr. Schacht, who fears not even Wall Street, expressed himself to correspondents with concentrated, guttural vehemence, thus...
...they can now collect is a matter of "adjustment." They paid $3 per $500 coverage for an expected building period of 21 months. In London -world centre of maritime insurance- the disaster was declared "absolutely without precedent," since no such mighty leviathan has ever burned in course of construction. Result: the prevailing London rate of 8% for a "constructive total loss" was jumped to 15%. Most of the Europa insurance was placed in Hamburg, thus adding more murk to the city's gloom. Unofficially it was said that the N. G. L. had expected an increase in revenue...
...Half of people's appetite is a result of looking at food. Now that I can't see what I am eating I feel that I could very easily dispense with...
...meeting itself, its outstanding result was an agreement to restrict 1929 oil production in North and South America to approximate its 1928 output of 1,075,369,847 barrels. Output of various companies will be pro-rated by five regional committees; restriction is apparently on a voluntary "gentlemen's agreement" basis. Had the U. S. oilmen been European oilmen, they might have drawn up a very solemn legal compact involving fines for overproduction and compensation for underproduction. But despite the fact that President Coolidge in 1924 appointed a Federal Oil Conservation Board which consistently recommended co-operation within...