Word: roberte
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Dates: during 1930-1939
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Work Done. To set up and run this very first agency of the First New Deal, the President chose Tennessee-born, Georgia-raised Robert Fechner. Because Robert Fechner was an A. F. of L. unionist, and A. F. of L.'s William Green had at first opposed CCC as "forced labor," the choice was bound to be interpreted...
Quiet by nature, unobtrusive by preference, Robert Fechner had 'hardly taken hold at CCC before he got into a first-class stink. The Affair of the Toilet Kits in June 1933 concerned a persuasive salesman who got Louis Howe to get Robert Fechner to pay an outrageous price for 200,000 handybags. Although Franklin Roosevelt himself had casually endorsed the salesman, loyal Mr. Fechner took the blows from Congress. That body in 1937 repaid him by cutting his $12,000 salary to $10,000. (Mrs. Norton's bill would restore...
Immediately above Chesapeake Corp. in the fantastic Van Sweringen pyramid was Alleghany Corp. Robert Young bought control of Alleghany (TIME, May 3, 1937) and proposed merging it with Chesapeake. His idea was that the owners of 667,539 shares of Alleghany preferred-including several potent friends of Guaranty Trust-should surrender their stock and their right to accumulated dividends of $33 per share in exchange for a new type of preferred and common-stock warrants. This plan was thwarted by Guaranty, which held Alleghany's 71% interest in Chesapeake as collateral for Alleghany bonds in technical default...
...pyramid by distributing to Chesapeake's stockholders their company's assets. Last week, with Guaranty voting; 71% of the stock, 73% of the stockholders approved. When the burial is completed, Alleghany will be directly over the C. & O holding a 25% interest in that valuable property. Robert Young's group, meanwhile. remains the largest owner of Alleghany-but Guaranty will remain in control as long as Alleghany's bonds are in default...
...probably the most influential modern poem. It was the first English periodical to publish the work of Marcel Proust, Paul Valery, Jean Cocteau, many another since-famed major European writer. The list of its contributors-James Joyce, Thomas Mann, Virginia Woolf, D. H. Lawrence, Ezra Pound, W. B. Yeats. Robert Graves-is an honor roll of contemporary letters...