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...comrades look upon as a likely successor to Commanding General Andrews when the latter retires, transformed 16 Douglas bombers into transports, shuttled them and their pilots as many as eight times across the continent, based his entire force at New Haven. Conn, and nearby airports in the New England area. From Barksdale Field, La.. came Brigadier General Frederick S. Martin, who led the Army's round-world hop in 1924, and his Third Wing with 756 officers and men, 47 pursuit and attack planes. Commander of the Second Wing, based normally at Langley Field. Va., temporarily at Middletown...

Author: /time Magazine | Title: ARMY & NAVY: Soldiers in the Sky | 5/23/1938 | See Source »

...this corridor is at least 100 miles long and never narrower than 45 miles, the Japanese claim was considered optimistic. The effective closing of the long western end of the Lunghai corridor seemed to military experts to be feasible only if Japan sent many thousands more soldiers to the area...

Author: /time Magazine | Title: WAR IN CHINA: Victory Supplied | 5/23/1938 | See Source »

...Exchange found that on March 31 the 452 member firms handling margin accounts in the metropolitan area were custodians of free cash balances of $245,562,000 belonging to customers. After sampling 60 presumably representative firms with aggregate free customers' balances of $51,349,000, Exchange accountants last week confirmed Mr. Simmons' assertion. The Exchange discovered a general disregard of a joint opinion of seven law firms representing the largest brokerage firms on the Exchange. This opinion, written in 1934 as an aftermath of the Banking Act of 1933 which divorced deposit banking from underwriting and brokerage, held...

Author: /time Magazine | Title: Business & Finance: Customers' Funds | 5/23/1938 | See Source »

...city of Knoxville joined in offering $7,500,000 for most of the electrical properties of the company, a million and a quarter more than the previous offer. Simultaneously, TVA Director David Lilienthal let it be known that TVA may limit sales of its power to a definite area, that it was considering buying up Commonwealth & Southern's private lineage in this territory. Apparently all that remained was for Wendell Willkie and David Lilienthal, who call each other by their first names, to work out terms...

Author: /time Magazine | Title: Business & Finance: No Death Sentence | 5/23/1938 | See Source »

...hard it had been for him to get there, announced that he had only ten minutes to make his train, and dashed away. But good-natured provincial audiences seemed to sleep just as contentedly through that sort of performance as any other. Although Gay MacLaren summons up a vanished area of U. S. cultural life in Morally We Roll Along, tells some good stories, the main impression communicated by her book is that in the end she decided that the childhood advice of her South Dakota neighbors was not so bad as she had thought...

Author: /time Magazine | Title: Books: Tent Culture | 5/23/1938 | See Source »

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