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Bank Figures. The World Bank wound up its second year with a profit of $4,094,652 (on a gross of $18,703,978), which would wipe out the first year's deficit of $1,063,805 and provide a tidy addition to its capital funds...

Author: /time Magazine | Title: FACTS & FIGURES: Markets to Targets | 8/16/1948 | See Source »

Next day, in a crowded, angry House of Commons, the storm broke. Though yellow linen blinds shaded the open windows, the atmosphere was like a, hothouse. Majority Leader Herbert Morrison took off his spectacles to wipe his eyes and forehead. Spruce David Eccles on the Tory bench discreetly eased his tie. Cripps looked comfortable and unperturbed when he described the plan in a short statement. Twenty M.P.s leaped up to cross-examine...

Author: /time Magazine | Title: GREAT BRITAIN: Hot Wind | 8/9/1948 | See Source »

...also added a new 1.2% boost (about $67.4 million a year), much less than the additional 5.6% the railroads had asked. Nevertheless, the roads were feeling a lot better. Example: in June, the Pennsylvania netted some $8,000,000, almost triple the May profit. It was enough to wipe out four previous months of red ink and put the road in the black for the half year...

Author: /time Magazine | Title: Facts & Figures, Aug. 9, 1948 | 8/9/1948 | See Source »

...readjustment of Western policy would have to start with a clear understanding of what Russia was now trying to do in Europe. The Kremlin had two main objectives: 1) to wipe out or reduce U.S. power on the Continent, and 2) to stop Western Union. On objective No. 1 the Russians' Berlin crisis had backfired. By committing itself to the relief of Berlin the U.S. had committed itself more deeply than ever to the defense of Europe. The very vulnerability of the U.S. military position in Berlin taught the lesson of how necessary it was to have force...

Author: /time Magazine | Title: THE NATIONS: It's More Fun to Know | 8/2/1948 | See Source »

...Church," he said, "was reduced to an institution whose function it was to comfort the aged and to wipe the eyes of those who couldn't take it in the struggle of life. Now all our compromises, our sins, our apostasy are coming back to roost in one awful tide of judgment. And we are afraid of the Communists, afraid of the atomic bomb, afraid of a depression, afraid of Catholics, afraid of anything and everything fearful, afraid of God." Dr. Rutenber's remedy: to "return to God and the raw Christianity of our origins...

Author: /time Magazine | Title: Religion: Two or Three | 6/7/1948 | See Source »

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