Word: stockmarket
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Thus had White House pressure and the cry of Hard Times broken the decade-long deadlock on eastern mergers. For the last ten years these same rail executives had been fighting a stockmarket battle for possession of subsidiary roads as part of their trunk systems, had been snatching at all independent trackage in the country's rail territory to keep it out of their rival's hands. So bitter and reckless had become their operations that the Interstate Commerce Commission had cried out in loud protest while the Senate had passed a resolution to suspend temporarily all mergers...
...anxious, went to Washington. Daniel reassured her, but soon the truth came out: he was head-over-heels in love with beautiful Mrs. Miller. Irma was heartbroken but gallant. Just in time to save the situation and the Congressman's soul came a curious concatenation of circumstances : the stockmarket crashed and took his amateurish speculations with it; beautiful Mrs. Miller hooted with laughter at the suggestion that she divorce her husband and marry Dan; a heinous appropriation bill reared its ugly head and Daniel smacked it, though in vain. The last you see of him he is flying furiously...
...which began July 1, has seen a great change in the financial situation. A surplus of $122,788,966 had been predicted, but its computation did not take into account the effect of the temporary 1% income tax reduction. The President's only mention of the stockmarket crash was backhanded: "Due to the depression it is now estimated that the income of the Government in taxes and postal receipts . . . will probably fall below the anticipation." Besides, "the measures taken to increase employment . . . represent a very material increase in Government expenditures of over $225,000,000. . . . These sums . . . reduce...
Ever since the first stockmarket crash there have been stories of a "trouble-spot'' in Manhattan banking. When remedies from within fail, a sure ointment for financial and industrial troubles is a merger. Long has it been hoped that this treatment would be used to assuage the Manhattan sorespot. Recently just such a merger was rumored. Remarkable feature was that it involved the unique plan of consolidating four banks (TIME, Nov. 10 ). They were: Manufacturers Trust, with resources of $463,000,000, greatly expanded during recent years; Public National Bank, with resources of $246,000,000, a bank...
Near Santa Monica, Calif., three sisters -Mrs. Ada McKeon, 80, Abba Miller, 70, and Jessie Miller, 60-destitute because of stockmarket losses, unable to pay taxes, waded into the Pacific Ocean, drowned themselves...