Word: talcott
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Dates: during 1930-1939
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Revered in the frugal offices of James Talcott, Inc. at No. 225 Fourth Avenue, in the heart of Manhattan's mercantile district, is the old desk of the Connecticut Yankee who founded the famed factoring firm in 1854. On the desk is a richly-bound volume of letters written on the occasion of the firm's 80th anniversary by the nation's great. Visitors are allowed to thumb through the volume and, if themselves distinguished, are occasionally invited to sit in the Founder's own chair. Generations of dead Talcotts gaze from their portraits...
Heavy though the atmosphere of genealogical respectability in James Talcott, Inc. may be, it has never been a detriment to trade. In the past ten years the annual volume of Talcott business has grown from $11,000,000 to $68,000,000 and is currently running at the rate of nearly $100,000,000 per year. To finance this expansion, Talcott turned to the public for the first time last spring, selling $1,500,000 worth of preferred stock. Last week it again went to the public, this time with an issue of 100,000 shares of common stock...
With the exception of a trifling amount of merchandise taken over on bad debts, the only item of physical assets on the Talcott books is $32,000 worth of furniture and office equipment. But its current assets foot up to more than $18,000,000. Explanation for this astonishingly liquid position lies in the nature of factoring...
...students of the Hudson's Bay school of literature may be lieve, masterful Scots at lonely fur-trading posts. In the modern business sense they are a cross between financing companies and service organizations, having evolved in the U. S. from the oldtime commission merchants. James Talcott, Inc. will make market studies, find selling agents, provide storage and showroom facilities, handle the clerical detail of foreign or domestic shipments. It does not, as the commission merchant used to do, actually sell the manufacturer's goods. Like all factors, James Talcott is primarily concerned with cash and credit...
...Cassels, An Economic Analysis of Milk Marketing and Prices; Elizabeth W. Gilbey, Statistics of Consumption; Robert A. Gordon, A Case Study of Enterprise and Profits in the Modern Corporation; Wassily W. Leontief, Inter-relationship of American Industries in 1929; Edward S. Mason and Associates, The Trust Problem and Policy; Talcott Parsons, Informal Institutional Control in the Medical Profession, and Comparative Study of the Leading Professions in the U.S. and Europe; and Carle C. Zimmerman, The Community during the Depression...