Word: sold
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Dates: during 1930-1939
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...axiom in the insurance business that insurance is not bought but sold. In 1935 Franklin Roosevelt sold Congress and Congress sold the U. S. the Social Security Act, the biggest, most comprehensive, most expensive mass insurance policy ever written. Since then its purchasers, the nation's taxpayers, have had occasion to read their policy carefully and, if they have detected no outright jokers, their reaction has been such that practically every politician in the U. S. from Franklin Roosevelt down has put revision of Social Security at the top of his must list. Last week, as the House Ways...
...Banister is seeking $1 for each page of the lifted story in every copy of the book sold, or about $60,000, but will probably get much less. Soon after More Merry-Go-Round appeared, its publishers failed, and the two authors never got any of the $12,000 they claim were due them. Counsel fees have put them out an additional $5,000 at least...
...hard-pressed Harrison Williams had sold nearly half his holdings for a mere $28,000,000. His remaining 51% control of Central States, through a bizarre series of other holding companies, gave him a net interest of 18.3% in North American. This is the sort of setup the Public Utility Holding Company ("death sentence") Act of 1935 was specifically designed to alter. Shrewd Harrison Williams was the first of the major utility tycoons to submit to its painful yoke, and North American registered with SEC in February 1937. By last fall when SEC finally forced the rest of the industry...
Three years ago American Airlines financed the purchase of some Douglas DC-3s and DSTs largely by equipment trust certificates sold to RFC. But Pan American had to seek no such professional giver of largess. It sold $2,500,000 worth of 4% certificates, maturing semiannually from January 1940 to January 1944, to the hardheaded New York Trust Co., has an option to sell it another $1,000,000 worth...
International's biggest producer is the Frood Mine near Sudbury, Ont., discovered by Prospector Thomas Frood, who sold his claim for $30,000. Deep beneath tall smelter chimneys and black slag mounds, its shafts bite 3,425 feet into the earth; from its honeycomb of stopes come 12,000 tons of nut-brown ore every working day. A ton of Frood ore contains 95 pounds of copper, 47 pounds of nickel, and the farther the shafts pierce toward the earth's core the richer the ore becomes...