Word: turnabout
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...government repudiated this offer. This has not been forgiven, but investors have been disposed to regard it as an act of Congress rather than of an executive department and dictated by the emergency arising out of the impounding of gold during the bank holiday. A second instance of turnabout face is not so easy to defend. The withdrawal of Mr. Acheson serves to emphasize the perplexities that confront his successor. In fact the Treasury of the United States will have to get some help from President Roosevelt by way of assurances and pledges if future government securities...
...government repudiated this offer. This has not been forgiven, but investors have been disposed to regard it as an act of Congress rather than of an executive department and dictated by the emergency arising out of the impounding of gold during the bank holiday. A second instance of turnabout face is not so easy to defend. The withdrawal of Mr. Acheson serves to emphasize the perplexities that confront his successor. In fact the Treasury of the United States will have to get some help from President Roosevelt by way of assurances and pledges if future government securities...
That was, of course, wiped out by depreciation, bond interest etc., etc. but the turnabout was decisive. Moreover it was achieved on operations averaging only 27.5% of capacity. For July Steel's operations were estimated by Chairman Myron C. Taylor at 53% of capacity-a rate which if maintained ought to bring U. S. Steel quickly into a land of milk & honey.* That these figures represented not only the fortunes of U. S. Steel but of a big part of the steel industry was shown two days later when Bethlehem Steel reported its deficit cut from...
...cash & marketable securities of $51,000,000, voted the regular 25? payment. Next day in a radio salesmeeting over a national network Chairman Walter P. Chrysler told his 75,000 dealers and salesmen that the new Plymouth was base priced at $495, that price reductions averaged $60. Frisco Turnabout. The sprawling St. Louis-San Francisco ("Frisco") Railway Co., which owns rail enough to double-span the distance between Berlin and Bagdad, averted a receivership action two months ago. Last week it performed a turnabout. Its management went to Federal Judge Charles Breckenridge Faris of St. Louis, the judge who gave...
Much of the improvement in sentiment was caused by a turnabout in important commodities. The Annalist index of prices for July rose to 92.2 from 88.6 in June, the sharpest gain for one month since this index was first compiled in 1925. All the ground lost since early February was made up. The gain was apparently touched off by hogs, although the rise in petroleum last April was an indication of what might happen. While hogs had re-actecLfrom their highs of late June (TIME, July 11), last week they made up much of the loss. After hogs, cattle began...