Word: airmailed
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Dates: during 1930-1939
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Just before CAA took over, the Post Office Department had to award contracts for several new airmail lines. Average Government subsidy for carrying the mail, during the four years since airmail contracts have been subject to competitive bidding, has been about 17? a mile. But for the new routes, bids reached new lows. Reason: successful bidders were to get their franchises confirmed as long as "public convenience and necessity" demanded them, when CAA took over, and would consequently have places in line if or when CAA handed out a fatter subsidy...
Last time Franklin Delano Roosevelt stuck his oar into the affairs of U. S. commercial aviation he made a superb mess of it. Aroused by Senator Hugo Black's airmail contract investigation, the President precipitately directed cancellation of all airmail contracts (TIME, Feb. 39, 1934, et seq.). The Army was ordered to fly the mail, which it proceeded to do with a loss of twelve lives in eleven weeks. Months later, when the airlines finally got all their mail subsidy back, it was under the supervision of a newly constituted Air Mail Bureau of the Interstate Commerce Commission...
...prevent a recurrence of the situation that brought about the 1934 Black inquiry, when the Errett Cord interests half-cornered the airmail subsidy of $16.500.000, holding 13 of 26 contracts through mergers and consolidations, the Act forbids mergers, interlocked directorates and subleasing of carrier contracts without consent of the authority...
...Rushed by airmail to Franklin Roosevelt at Warm Springs, Ga. was the special report on the railroad crisis prepared by Interstate Commerce Commissioners Walter M. W. Splawn, Joseph B. Eastman and Charles D. Mahttie. Meantime, in Washington, the Association of American Railroads and the Railway Labor Executives Association "decided to wait and see what the President is going to do'' before discussing wage cuts. Said R.L.E.A. President George L. Harrison after the meeting: "They told us how poor they were." Said A.A.R. President J. J. Pelley: "And they told us how poor they were...
...airline and the only major domestic one to make a sizable profit in 1937-$270,000 before income tax deductions. This makes it a choice business property, but North American Aviation found possession embarrassing because the Air Mail Act of 1934 forbids one company both to have airmail contracts and to manufacture airplanes. North American is the only U. S. concern to have gotten away with this since the act passed (by building military planes exclusively) and the Government has been scowling at the situation. Since North American's manufacturing division has a backlog...