Word: netted
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...late in the week but watch Welby wallop stylists like Elwood Cooke and Wayne Sabin (who beat Quist). When the final round came Sunday afternoon, 21-year-old Bobby knew how to handle Welby. Bobby kept him moving, fed him no setup lobs, passed him at the net, caught him flustered and flatfooted with service aces, finished him off in straight sets, 6-4, 6-2, 6-4. Bobby won the title, but the boy they talked about on the way home was Welby. "Next year," they said. In the women's singles, Alice Marble breezed through with scarcely...
...their deserts and needs. Ten years ago the National Association of Broadcasters had a chance to buy ASCAP, lock, stock & Alley, for $20,000,000. NAB thought the price too stiff. But since then radio has paid ASCAP some $30,000,000 in license fees (a flat 5% of net receipts on all programs) and sustaining fees, arbitrarily set and ranging from $100 to $15,000 whether the stations use ASCAP music...
...aircraft (see p. 63), etc. Many a smaller business feels the push of the season in the same way. Typical of many such were the new conditions last week faced by Marion Steam Shovel Co., No. 2 U. S. maker of shovels (No. 1: Bucyrus-Erie), 1938 net sales...
Boast of Marion is that not a cent of new capital has been put into the business since the founders scraped together $20,000 and began operations 55 years ago. Nothing to boast of, however, are the company's net income deficits for seven of the last nine years' operations. Marion's big income comes from the sale of mining shovels and since Depression I the industries that use them have been in the dumps...
...first mortgage bonds, $2,643,900 of 7% cumulative preferred stock, 100,000 shares of no par common (current price $3.75). Although funded debt has been reduced by almost one half, Marion owes $1,619,388 back dividends on her outstanding preferred. Two years ago net sales of $6,174,822 gave the firm a $338,191 net profit; last year the company was back in the red, almost $500,000; last week Marion's big, handsome, conservative president, James Hatton Waiters, a crack salesman (who had been on the verge of recapitalizing the company), suddenly observed that apparently...