Word: controller
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Dates: during 1940-1940
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Italy's object in the far-flung bush battles of the war in East Africa is to bite off pieces of France's colonies in the north, gain control of Egypt and the Suez, and bite into Great Britain's holdings in the Anglo-Egyptian Sudan, British Somaliland, Kenya Colony...
...Caro Lloyd Strobell, 81, Illinois-born, graduate of Vassar College in 1881. Wife of a Manhattan schoolmaster, George Strobell, Mrs. Strobell had three ancestors in General Washington's Army. Slight Mrs. Strobell became a Socialist in 1898, was a pioneer in birth-control research, has no children...
...William Firth, handsome kinetic chairman of Richard Thomas & Co., Ltd., ?23,000,000 British steel firm, decided that Britain should have at least one modern continuous strip rolling mill, U. S. type. He got his mill (at Ebbw Vale, South Wales), but in financing it he lost control of Richard Thomas & Co. First his own bank, Lloyds, refused a loan, called in an overdraft, nearly strangled Thomas & Co. with a working-capital shortage. The Bank of England agreed to make the loan, but extracted an issue of prior-rights stock and put some of Sir William's chief competitors...
Next, Britons heard an ugly rumor (still unconfirmed because of defense regulations) that the Ebbw Vale mill, most efficient sheet mill in the British Isles, was lying one-third idle because the Steel Control Committee, a semi-official front for the Iron & Steel Federation, was giving preference in Government orders to cartel-owned mills...
Last week it was the turn of Thomas & Co. stockholders to grouse at the Federation-controlled Management. Gathering in the River Plate House in Finsbury Circus, London, they wanted to know why, since Firth was ousted, their once profitable stock had paid no dividend. Chairman the Earl of Dudley did his best to explain. "It's imperative that a strong liquid position should be maintained. . . . Your directors regret that in spite of the substantial increase in profits it has not been possible for a dividend to be paid. ..." He spoke foggily of the dealings between the Steel Control Committee...