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...Curley, a delegation called on President Roosevelt, on Governor Black of the Federal Reserve, on Chairman Jones of R. F. C., on Vice President Garner, on Speaker Rainey. All they got was sympathy. The President was opposed to lending money to municipalities because 1) demand might quickly soar to ten billion dollars, 2) local governments would have to surrender their independence to Washington...

Author: /time Magazine | Title: STATES & CITIES: Municipal Bankruptcy | 6/12/1933 | See Source »

...theme of each mayor was the same: municipal credit with local banks was exhausted. Default on municipal securities loomed.∙ Taxpayers were on a silent strike. The cost of unemployment relief continued to soar. Jobs and salaries had been cut and cut again and still the municipal budget would not stay balanced for a week at a time...

Author: /time Magazine | Title: STATES & CITIES: Mayors Without Money | 6/5/1933 | See Source »

...Wall Street whispered that I. T. & T. was licked, Wall Street did not know Sosthenes Behn. To his shrewd daring and persistent battling I. T. & T. owed its spectacular soar to success. He was now to prove himself a bad-weather pilot of extraordinary ability. He hacked expenses, pruned salaries, wrote down assets. With his able brother, Hernand, he worked furiously to increase the efficiency of Mackay-Postal, built five new radio stations on the Atlantic Coast alone. When the storm began to clear it was apparent that Sosthenes Behn had not only braced his towering electrical companies to stand...

Author: /time Magazine | Title: Business: Behn Marches On | 5/29/1933 | See Source »

...Business was definitely better than it had been twelve months before. Automobile production for the third successive week exceeded last year's figures, and May was expected to be the best month in nearly two years. Steel output crossed the line at 33% of capacity, was expected to soar to 40% this week. Carloadings, biggest barometer of the movement of goods from mine to mill, from factory to store, jumped 43,000 to 535,000. considerably more than the usual seasonal gain.* Only major index still below the line was electric power production, but a heavy gain was predicted...

Author: /time Magazine | Title: Business: Above the Line | 5/15/1933 | See Source »

...horses. . . ." ¶ "Dedicated to Franklin D. Roosevelt after hearing his lofty and noble appeal for the Forgotten Man'' were some verses by 80-year-old Edwin Markham, author of "The Man With the Hoe." Excerpt : Not on our golden fortunes builded high- Not on our boasts that soar into the sky- Not upon these is resting in this hour The fate of the future; but upon the power Of him who is forgotten-yes, on him Rest all our hopes reaching from...

Author: /time Magazine | Title: POLITICAL NOTES: Politicules | 11/14/1932 | See Source »

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