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...banks, insurance companies-would not mind in view of their improved security. Farmers would pay the Land Banks 4½% on their new mortgages and be free from foreclosure for at least two years. ¶ By another of his quick, bold pen-squiggles, President Roosevelt last week created a brand-new military pension system for the U. S. and saved the Treasury more than $400,000,000. By authority of the Economy Act, he issued a set of twelve long regulations, prepared by Budget Director Douglas over the loud objections of the veterans' lobby and affecting some...

Author: /time Magazine | Title: THE PRESIDENCY: Roosevelt Week: Apr. 10, 1933 | 4/10/1933 | See Source »

...years ago, Harvey Samuel Firestone has been one of Mr. Ford's few close friends. The friendship explains a great deal about Mr. Firestone. Mr. Ford never lifts his spear without waggling it at bankers. Mr. Firestone's particular windmill is the mailorder tire. Each has a brand of individualism...

Author: /time Magazine | Title: Business & Finance: Firestone v. Mail-Order | 4/10/1933 | See Source »

...Firestone's brand has never been relished by the heads of his three potent competitors-Goodyear's Litchfield, U. S. Rubber's Davis, Goodrich's Tew. Until last fortnight when Mr. Tew assumed the unpopular rôle, Mr. Firestone almost always took the lead in slashing prices. But so fast flew the chit-chat about their opinions of Mr. Firestone that when Mr. Firestone wrote his stockholders last fortnight that he was cutting not prices but dividends, he declared: "There has been much said, written and portrayed by cartoons to promote the thought that there...

Author: /time Magazine | Title: Business & Finance: Firestone v. Mail-Order | 4/10/1933 | See Source »

...brought up in the brewery, became one of the dandies of New York, a stalwart of Tammany (eight years in Congress), was made Colonel by New York's Governor. Father & son worked hand in hand. They had a house on Fifth Avenue. In 1913 they built themselves a brand-new 2,000,000-bbl. brewery; they grew to rival Ehret's. Both were good joiners and their popularity made sales. The elder Jake never lived to see Prohibition. He died in 1916. Colonel Jake just before his father's death acquired the New York Yankees which continued...

Author: /time Magazine | Title: Business & Finance: Resurrection | 4/3/1933 | See Source »

Housed temporarily in the old First National, National Bank of Detroit was brand-new, 100% liquid, the first bank launched under President Roosevelt's emergency banking measures. Toward its founding the biggest home-town industry, General Motors Corp.. had put up $12,500,000 and the U. S. Government through the R. F. C. had bought $12,500,000 of preferred stock. Its first statement showed: Federal Reserve stock, $675,000; Cash, $24,325,000; Deposits...

Author: /time Magazine | Title: Business & Finance: Open Detroit | 4/3/1933 | See Source »

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