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...Corp., and lost only voting control of that (TIME, July 25). To reimburse the banks which had financed its purchase by a group of Rochester business men, an $8,500,000 bond issue is contemplated. Though the New York Public Service Commission lashed Mr. Hopson for "milking" Staten Island Edison and refused to sanction the sale of $8,500,000 long-term bonds to pay off notes, he promptly offered to exchange the notes for a new 364-day issue. The Commission has jurisdiction only over borrowing of a year or more. All but $1,000.000 of the maturing issue...

Author: /time Magazine | Title: Business & Finance: Utility Week | 8/15/1932 | See Source »

...Garden," a ballad, was composed by Mrs. Idabelle Smith Firestone, wife of Rubberman Harvey Samuel Fire stone. Mrs. Firestone is a mother of six, grandmother of three (who call her "Banny"), a longtime friend of Mrs. Henry Ford and Mrs. Thomas Alva Edison. Grey-haired, distinguished-looking Mrs. Firestone is fond of birdsongs, buggy-riding, playing on piano and organ. Improvising casually for her family several years ago, she played a melody which she said was inspired by her garden. They urged her to write it down. Arranged by Radio Orchestra Conductor William Merrigan Daly, with lyrics by one Lester...

Author: /time Magazine | Title: International: Rose, Heart, Garden | 8/8/1932 | See Source »

Engineer Sprague was never a man for titles or labels. In 1889 he sold his Sprague Electric Railway & Motor Co. to Thomas Alva Edison. Forthwith his name was wiped from the rolling stock of 113 U. S. and foreign electric railways and from all items of construction, equipment and control, Edison's name being substituted. Later he sold his electric elevator company to Otis Elevator Co. Electric traction had many other fathers -including Siemens Co. in Germany, Stephen D. Field, Charles J. Van Depoele, Leo Daft-but Frank Julian Sprague first conceived the idea of a car moving freely...

Author: /time Magazine | Title: Science: Liberator of Mules | 8/1/1932 | See Source »

After graduating from U. S. Naval Academy and serving briefly in the Navy, Engineer Sprague spent a year with Thomas Edison, then formed his own company, got a contract in 1887 to install an electric railway in Richmond, Va. Said he later: "I believed in myself and staked a fortune. All hands worked with a vengeance. . . . The morning we tried the first trolley up the steepest grade, it crept up the 10% slope slowly, steadily, wobbling here & there. After an eternity it reached the crest and the men cheered. Our company went into a receivership in the end but. . . contracts...

Author: /time Magazine | Title: Science: Liberator of Mules | 8/1/1932 | See Source »

Birthday. Frank Julian Sprague, 75, "father of the trolley car." Celebration: a tribute meeting at the Engineering Societies Building, Manhattan, with hundreds of celebrities present. An Annapolis graduate, Scientist Sprague specialized in electricity, was for a year affiliated with Thomas Alva Edison. He organized Sprague Electric Railway & Motor Co., tried to get Jay Gould to electrify Manhattan's steam-powered elevated lines. During a demonstration, a fuse blew out, scared Financier Gould out of all interest in electric cars. Later in Richmond, Va., Mr. Sprague successfully constructed an electric surface line. Within two years 200 other U. S. cities...

Author: /time Magazine | Title: Milestones, Aug. 1, 1932 | 8/1/1932 | See Source »

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