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Last week the following were news: Highest council in the steel industry is American Iron & Steel Institute, whose 32 directors administer the Steel Code. When President Robert Patterson Lamont, onetime (1929-32) Secretary of Commerce, resigned last year, the Iron & Steel Institute postponed electing a new president pending reorganization. Its members wanted an active steel executive at their head and a far-flung research staff to keep the industry and the public abreast of Steel's developments. Last week, its reorganization apparently completed, the Institute announced the election of Eugene Gifford Grace of Bethlehem Steel as president...

Author: /time Magazine | Title: Business & Finance: Personnel: Dec. 24, 1934 | 12/24/1934 | See Source »

...game manufacturers, a small respectable family of 35, have their own NRA code. Like the four Mills brothers* who make vending machines adorned with plums and cherries, they keep at a safe distance from the sleazy arcades. They sell pin games to the wholesaler. The wholesaler sells them to the operator for $40 or $50. The operator takes a machine around to cafes, smoke shops, arcades, where he installs it with the permission of the owner, known as the "location" man. The operator and location man split 50-50 or 60-40 on the proceeds during the life...

Author: /time Magazine | Title: Business & Finance: Pin Game | 12/24/1934 | See Source »

...Orleans. He was promoted to hotel pressagent. The best publicity job he ever did was to provide Governor Huey Long with a free and luxurious suite of rooms. Governor Long made him Colonel Weiss, appointed him treasurer of the Long political machine. Soon "Colonel" Weiss was appointed NRA Hotel Code chairman for 13 Southern states. Last week he was elected president of the newly formed New Orleans Roosevelt Corp., operator of the Hotel Roosevelt and the Hotel Bienville. Twenty-four hours later a Federal Grand Jury indicted him for evading taxes on a $200,000 income...

Author: /time Magazine | Title: Business & Finance: Personnel: Dec. 24, 1934 | 12/24/1934 | See Source »

...June 1933 President George A. Sloan of the Cotton Textile Institute walked into the White House, slapped down on President Roosevelt's desk a cotton textile agreement which, with modifications, became the first NRA code. When Mr. Sloan tried to resign as chairman of the Code Authority and president of the Textile Institute last summer, the industry would not hear of it. Fortnight ago the Institute re-elected him president. Last week, complaining of the "double load of important activities," he compromised by keeping his job with the Code Authority but resigning his job with the Institute. Goldthwaite...

Author: /time Magazine | Title: Business & Finance: Personnel: Dec. 24, 1934 | 12/24/1934 | See Source »

...Call-Bulletin management, challenging the board's jurisdiction, refused to appear at the hearing. Up went the case to the National Labor Relations Board in Washington. Again Publisher Hearst, through counsel, insisted that jurisdiction belonged solely to the Newspaper Industrial Board created under the Newspaper Publishers' Code. That code permitted of no modification without the consent of the publishers who subscribed to it. For the Labor Relations Board to take over the Jennings case, it was argued, would constitute "modification" which in turn would nullify the code which in turn would justify all publishers in withdrawing...

Author: /time Magazine | Title: The Press: Unnecessary Torture | 12/24/1934 | See Source »

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