Word: debt
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Dates: during 1940-1949
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There was a third way-to keep on overspending, keep on going into debt, even in good times, as if debt didn't matter. Nobody seriously tried to justify this as a lasting policy. But it was just what the U.S. was currently doing...
...last the Dramatic Club decided that Cambridge theaters were not satisfactory and hired the Plymouth Theater in Boston for its production. Because the HDC failed to draw a large enough audience, to fill up even a few rows of the theater, it soon found itself thousands of dollars in debt. Worried creditors, instead of badgering HDC members to ante up the money, hounded University Hall for payment, despite the fact that the University had absolutely no legal or moral responsibility for the HDC's debts...
...tour over and the debt paid, 22-year-old Rafael was appointed resident conductor of the Czech Philharmonic Orchestra. In 1942, two years after his father's death, he was promoted to permanent conductor. Since then, young Kubelik has built the Czech orchestra from 85 to 120 pieces, raised its critical rating from fair to excellent...
...parish. Five years later, Dr. Manning became rector of Trinity Church and thus head of the wealthiest Episcopal parish in the U.S. At his desk and in the pulpit, he proved to be a good choice for the job: during his 13-year tenure the Trinity Corp. reduced its debt substantially...
With such genteel stiff-arming of the buyer, white-haired Hiram Parke, 76, who looks more like a bank president than an auctioneer, has pleased most of the sellers who have come to him.* In eleven years he has built Parke-Bernet (rhymes with "in debt") into the largest U.S. auction house, lured buyers from as far away as Europe and South America, and sold more than $50 million worth of paintings, books, furniture, tapestries, etc. At commissions ranging from 10% (plus expenses) up to 20%, he has always shown a tidy profit (last year's take: about...