Word: controller
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Dates: during 1930-1930
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Operated by C. & A. are about 1,000 mi. of track between Chicago, St. Louis and Kansas City. Mine products are its chief traffic, 40% of its tonnage. In 1922, sapped by Government control, burdened with a big funded debt, hampered by strikes in its shops, weakened by loss of business owing to coal strikes, the line tumbled into receivership, has lain there ever since. But its equipment has been kept in better than average condition, its double tracks between Chicago and St. Louis transport about half the passenger traffic there...
Last week B. & O. announced that, acting through the great railroad house of Kuhn, Loeb & Co., it had acquired control of C. & A. The total cost to B. & O. was estimated at $21,500,000 against the I. C. C.'s 1928 valuation...
...deal was done entirely through the purchase of bonds, which carry voting control. Puzzling in the case was unusual strength in C. & A. stock issues early last week with both the common and preferred selling at 7¼, before dropping to 3⅞ (common) and 3 (preferred). Even the wary New York Times said flatly: "There will be nothing left for stockholders...
...other words, the A. M. A. wishes to control the practice of medicine in the U. S. It wants each doctor to develop his own clientele through his own ability and personality. It wants patients to have the freedom to seek personally preferred medical attention. It does not want U. S. doctors regimented, as in England and Germany, where doctors are listed on panels like jurymen. In England some 39,000 doctors are so paneled. To each is allowed up to 1,000 of the population. The sick under the insurance plan must go to one of these doctors...
Empire Free Trade. One Briton who rejoiced secretly at the Canadian victory of Conservative Bennett was Conservative Stanley Baldwin. He has been fighting tooth & nail to keep control of his party from the British "Press Lords" Baron Beaverbrook and Viscount Rothermere with their pet policy of Empire free trade (TIME, Dec. 2 et seq). Stanley Baldwin, personally a free trader, was grudgingly forced to accept Empire free trade when popular opinion seemed to demand it. Australia's mountainous tariff and absolute embargoes, conservative Canada's high tariff policy, gave Stanley Baldwin one more chance to declare his independence...