Word: rosenwald
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Dates: during 1920-1929
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Famed as leader of "calendar reform" is George Eastman. Last week to his side came Julius Rosenwald's Sears, Roebuck & Co. which announced it will operate next year on a 13-month schedule. To its customers, the introduction of some new month such as "Sol" will mean nothing, but 40,000 employes will have to consult their company's new calendar to learn when payday falls...
Heroes. Julius Rosenwald, board chairman of Sears, Roebuck, early in the decline offered to cover the margin accounts of all his employes, became the prime hero. Later Standard Oil of New York became hero-ized with its announcement that it would lend $43 a share ($11 above the market at one point) to employes who had borrowed on their holdings. Other helping companies were Standard Oil of New Jersey, Humble Oil, Gulf Oil, U. S. Steel, Newton Steel. Late last week, when Washington's official silence was broken with promise of the tax reduction, then of an industrial conference, Hoover...
Actor Eddie (Whoopee) Cantor confessed that when he had heard of Mr. Rosenwald's offer to protect his employes' accounts, he had wired for a job as office boy. The confession was in Caught Short, humorous story of his market troubles...
Respectfully conscious, too, are Chicagoans that it is a civic honor to be on the university's board of trustees, now 29 strong. Besides such generous, longtime trustees as Julius Rosenwald, Martin Antoine Ryerson and Chairman Swift, who all live within a few blocks of the campus, and such illustrious out-of-towners as Charles Evans Hughes of Manhattan, George Otis Smith of the U. S. Geological Survey in Washington and Steelman Cyrus Stephen Eaton of Cleveland (elected last week), the board includes new-risen leaders of business and finance like President Sewell Lee Avery of U. S. Gypsum...
...Chicago Philanthropist Julius Rosenwald, board chairman of Sears Roebuck Co. guaranteed the margin accounts of all his employes. Two days later Chicago's public utility tycoon and opera promoter Samuel Insull announced that he would do the same thing. And so did Samuel W. Reyburn, president of Manhattan's department store Lord & Taylor. But the climax came when the wizened little man who lives in the fortressed home in Pocantico Hills, N. Y., said: "My son and I have for some days past been purchasing sound common stock." In memory of many a trader in Wall Street, John D. Rockefeller...