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Among the more arresting phenomena of current U. S. political life has long been the relation between the country's most important man-Franklin Delano Roosevelt-and its most important activity- Business. Business has been apt to regard Franklin Roosevelt as a malicious ogre who has its fate in his perverse hands. Franklin Roosevelt has appeared to regard Business as a malevolent force, somewhat parallel to original sin, which cannot be wiped out but should be perpetually chastened. In this strange misapprehension, the gravest flaw is obvious: it does not approximate reality. Last week, in the light of glaring...

Author: /time Magazine | Title: THE PRESIDENCY: Changed Tunes | 11/8/1937 | See Source »

...against "Japanese onslaughts so terrific that the Huto River is literally running with blood." Tokyo officially claimed to have taken Shihkiach-wang. Japanese war correspondents lyrically compared the action to "General von Mackensen's crossing of the Dunajec in the World War," prematurely boasted "this seals the fate of North China...

Author: /time Magazine | Title: WAR IN CHINA: Double-Ten | 10/18/1937 | See Source »

...Dominions, the Prime Minister springs a general election at a time most propitious for him and his party. Two months ago, Ontario's Premier, the Hon. Mitchell Frederick ("Mitch") Hepburn, self-styled C. I. O.-hater and loud-mouthed critic of President Roosevelt, decided to trust his political fate to the favorable reaction sweeping over his Province as a result of an industrial boom, called for a general election...

Author: /time Magazine | Title: CANADA: 5 -- 2 Equaled 8 | 10/18/1937 | See Source »

Certain other issues had a better fate last week, notably that of Continental Can Co. whose $20,000,000 of preferred stock, offered at $100 a share, went at a premium of $102, to the vast delight of Goldman, Sachs & Co. Similarly, a new firm named Lane-Wells Co. (which owns a unique process of "blowing in" oil wells with something called a "gun-perforator") successfully sold 40,000 shares at $15 each in its first public financing to the joy of Hartley Rogers & Co. But Continental Can is unusually strong and Lane-Wells enjoys unusual earnings. Other companies, less...

Author: /time Magazine | Title: Business & Finance: Backwater | 10/18/1937 | See Source »

Similar was the fate of $48,000,000 of Bethlehem Steel debentures. In the month beginning Sept. 8 when they were offered, Bethlehem stockholders bought but $2,000,000 worth. Last week, therefore, the underwriters had to take over the remainder of the issue and offer it to the public. The 25 underwriting firms, headed by Kuhn, Loeb & Co., bought the debentures at $98, intending to sell them at $100, thus getting a 2% commission minus expenses. But during the month they were obliged to wait for company stockholders to buy, the market fell so far that last week Bethlehem...

Author: /time Magazine | Title: Business & Finance: Backwater | 10/18/1937 | See Source »

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