Word: investment
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Dates: during 1930-1939
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...Theme of Uncommon Sense: "Saving for a rainy day only makes it rain." With lucid plausibility David Cushman Coyle expounds technological unemployment, the arrival of an economy of plenty, the advantages of economic nationalism, the congenital wickedness of high finance. The blame for Depression he places on men who invest part of their income instead of spending it. His solution is high income taxes to take away from the rich the money they invest, and Government spending to distribute it among the poor who will not save it. Potentiality: 100,000 votes for Roosevelt...
...Times editorial's fear that the tax would stunt the growth of American industry and restrict the opportunities for new employment seems silly in view of the fact that the receivers of dividends would still have the opportunity to reinvest these profits through the ordinary channels of the investment market, the only difference being that this market, and not the views of the management of the corporations, should decide in what industries to invest. Considering that the over-expansion of the automobile industry was one of the main causes of the depression, the statistics given by the Times...
Petitioning a California court for permission to invest part of its endowment in common stocks, Stanford University introduced as a witness Trustee Herbert Hoover. At a San Jose hearing Trustee Hoover testified: "The trustees of Stanford University . . . are now confronted with a grave problem. . . . For 50 years much prudence and wisdom have caused the trustees to invest the endowment, now amounting to some $24,000,000, in seasoned bonds and first mortgages. . . . The devaluation of the dollar, the widespread bank credit inflation and the possible menace of currency inflation are the new factors with which the trustees must deal...
Kilkenny's other shipmates include Count Ilya Tolstoy, cinema photographer, grandson of the novelist. Count Tolstoy is whiling away the time for the junk to be built by persuading his friends to invest in a concrete stadium for fighting-fish fights near St. Augustine...
What the Department of Justice last week announced as a "major victory" in a war against natural gas monopolies encouraged the "monopoly" in question to invest $8,000,000 in the construction of a 300-mile pipe line to Detroit. Target of the U. S. Government was Columbia Gas & Electric Corp., which supplies manufactured gas, natural gas and electricity to some 1,326 cities and towns in Indiana, West Virginia, Ohio, Kentucky, Pennsylvania, Maryland and New York. Specific allegations involved the relations between Columbia Oil & Gasoline Corp., an affiliate of Columbia Gas & Electric, and Panhandle Eastern Pipe Line Co. This...