Word: sharing
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Dates: during 1930-1939
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...parried (TIME, July 10). But within six historic days: the legal authority of most of the "alphabet" administrative agencies set up under the New Deal was gravely threatened, its Labor program was imperiled, its yardstick utility plan was circumscribed and back to the State machines went a great share of the political power that Franklin Roosevelt had spent six years gathering into Federal hands. Hardest blow of all landed on his nose, which the Senate feared he wanted to stick too far into international power politics...
...operas, does not own the dirty, mustard-colored building on midtown Broadway, but leases it from the Metropolitan Opera and Real Estate Co. This organization is nothing more nor less than the owners of the Metropolitan's 35 parterre boxes ("Diamond Horseshoe"). Each box holder owns 300 shares of $100-par stock, and liability for a possible annual assessment up to $15 a share...
...Jones industrial averages-enthusiastic over prospects for the second half of 1939, dashed off a sensational 6.1-point rise, reached its highest point since March (144.7 against 152.3 then). For the first week in six months the New York Stock Exchange had four 1,000,000 share days. All listed shares rose some two billions...
...days later, Groesbeck moved again, this time solidifying his relations with SEChairman Jerome Frank. He announced he would simplify the structure of Bond & Share's National Power & Light. Meeting one of SEC's main objections (the needless ramifications of utility finance), he announced dissolution of National's "intermediate holding company," $332,000,000 Lehigh Power Securities. Henceforth, National will have direct control of Lehigh's Pennsylvania Power & Light Co., which supplies electricity to 700 Pennsylvania communities...
Last week, Wall Street noted that power production for the week ending July 1 was 14% ahead of last year and slightly ahead of 1937, added this to Bond & Share-New Deal good-will and the chances of more SEC-holding company deals. Result: the Dow-Jones average of 15 utility stocks rose for eleven consecutive days, making the second quarter of 1939 look like a straight line advance for at least this group...