Word: investment
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Dates: during 1930-1939
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...Share. United not only is one of the biggest utility holding companies but it is the utility operator's conception of a beneficent holding company. It exercises no control over the operations of its subsidiaries, its function is wholly financial. In an industry where it is necessary to invest about $6 to do $1 worth of business (U. S. utilities last year had total gross sales of $2,200,000,000 from a fixed capital of $14,370,000,000) financing is vital. Therefore top utility men must be financiers primarily and Wall Street has logically become their headquarters...
...concerned, and my family and my wife, who are wealthy people, there has been provided $50,000,000,000 in tax-exempt securities in which we can invest our money and pay no part toward the support of the Government. I think that is a pernicious system." With this as a jumping-off point Doris Duke's husband, James Henry Roberts Cromwell, proceeded to tell the House Ways & Means Committee how to reform the U. S. tax system. He had flown straight from Honolulu and was fairly bursting with ideas. He wanted to abolish all income, gift, estate...
...adventurers-a discredited sea captain (Oscar Homolka), a sniveling, cadging, little cockney (Barry Fitzgerald) and an English remittance man (Ray Milland) whose remittances have stopped coming-commandeer a Sydney-bound schooner, deprived of its crew by plague, and set off for South America to sell their stolen cargo and invest in mines. Their fates and that of Frances Farmer (a studio addition to the passenger list) are determined by a stop-over at an uncharted South Pacific island ruled with a rifle by a religious madman (Lloyd Nolan...
...given $5,000 apiece and the one who can double it in a month is to receive a million more. The plot which made "If I Had A Million" extremely good entertainment many years ago falls down here partly because of the niggardly sum that is to be invested, and partly because of the uninteresting people who are to invest it. Crosby sings songs that we vaguely remember hearing a few months ago, and wins the coveted fortune by the most preposterous "deus ex machina" we have seen in some time. The picture is hardly to be recommended...
...there must be required stringent liability on the part of promoters for the worth and good faith of the securities they issue . . ." And further capital must not become "entrenched in certain favored corporate structures." Therefore "the limited liability corporation must be deprived of the right to retain profits and invest them, . . . not according to the judgment of the market but at the discretion of the managers." Mr. Lippmann does not say whether he favors the S.E.C. or the undistributed profits...