Word: trades
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Dates: during 1930-1939
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From the German point of view, President Roosevelt, in trade matters, is a shady coin-clipper who cheapened the value of the U. S. dollar and thus "unfairly" reduced U. S. export prices on the World market. In Washington's eyes, the German Economics Minister and Reichsbank President Dr. Hjalmar Schacht is also shady because he does not similarly and frankly reduce the value of all German marks but, instead, has created an intentionally bewildering list of different kinds of marks. Each has a separate value and all are manipulated to Germany's trade advantage by Schacht...
Thus last week Berlin considered that Washington had acted with intolerable presumption, and Dr. Schacht, fighting mad, was reported to have exclaimed, "They mean to kill our trade with them? All right, let's kill their trade with us! Afterward we can build it up again on a new basis...
Ranking abreast of Kimball is Baldwin Piano Co., which also consigns products to dealers, is consequently called in the trade "that banking house." In third place is Winter & Co. Winter goes in for low-priced pianos, stands near the top in unit production. One of its models is a "pianette" at $99.50 built to compete with Japanese pianos, which cost $4 to make, sell in the U. S. for $50. Aeolian American Corp. has been slipping in the past few years but still holds fourth place in dollar volume with such big names as Chickering and Knabe...
Though musically the violin is by all odds the most important stringed instrument, there have been no Steinways of the fiddle trade since Stradivarius and Amati. Of course, the reason is that a good violin never wears, out. Improving with age, they are traded like works of art. What few fine U. S. violins are made today are the product of independent craftsmen like Manhattan's Paulus Pilat, who turns out ten instruments per year at $500 to $750 each...
...trusts, extant and defunct, will be examined before SEC sends its report to Congress next January with recommendations for regulatory legislation. In charge is Commissioner Robert E. Healy, the grey-haired Vermont Republican who conducted most of the six-year investigation of public utility holding companies for the Federal Trade Commission. His first lieutenant is Paul P. Gourrich, a demon statistician who used to work for Kuhn, Loeb & Co. If his German accent were not so pronounced, Paul Gourrich might have been Commissioner Healy's inquisitor. Asking the questions last week was David Schenker, a bright young SEC lawyer...