Word: retrenched
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...small roster of singers and a curtailed repertoire, the Teatro Colon in Buenos Aires opened last June its temporada grande (big season), which corresponds both in climate and in social brilliance with the winter seasons of U. S. operas. On its two greatest drawing cards the Colon could not retrench; immediately after the successful 1931 season it had signed contracts with Tenor Giacomo Lauri-Volpi and Coloratura Soprano Lily Pons. But there was no cause for regret. When Lauri-Volpi departed last month he flung exuberantly to the Argentine internal loan fund 50,000 pesos ($12,500), half...
After Thomas Bat'a's body had been embalmed the first thought of Jan Bat'a was to retrench. The Bat'a newspaper announced that the company had passed its dividend, that for the first time working partners will fail to receive their 10% return on the stock they hold. Under the Bat'a profit sharing system, half of each worker's profits has been automatically invested for him in Bat'a stock, thus making him a working partner...
...levies, was told it must lop off at least $15,000,000. Chicago bankers have promised to buy tax warrants if cuts are made in building operations, plant maintenance. But up until last week the Board, although agreed on the necessity, made no move to retrench...
...municipal economy. He accepted a low bid for the construction of an administration building at Atlanta's airport. Labor leaders, protesting that the wage scale was too low, got the City Council to pass a measure adding $4,300 as a workers' bonus. Mayor Key, determined to retrench, vetoed it. The Atlanta Federation of Trades picked up the Drys' recall petition, pushed it hard enough to secure last week's election...
Brazil Moratorium? Year ago Sir Otto Ernst Niemeyer of the Bank of England reported on Australia, advised the Dominion merely to "retrench." In Buenos Aires last week correspondents were "reliably informed" from a Government source that Sir Otto would give Brazil a different piece of advice. His report would recommend, the correspondents were told, a "national moratorium" (postponement of payments) on all foreign obligations of Brazil's Na tional and State Governments. Sir Otto, although Vice Governor of the Bank of England, went to Brazil to oblige her chief British bankers, the House of Rothschild...