Word: nonetheless
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Dates: during 1930-1939
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...took refuge under section 77 of the Bankruptcy Act. Steered by Chairman Kenneth David Steere, who as a partner of Paine, Webber & Co. handled many a market operation for the Vans, it presently submitted a reorganization plan which, while suggesting a substantial write-down of the common stock, nonetheless left C. & O. with an estimated 19.1% of voting power. Last week ICC cut this to 12.4% and, as it had lately done with Chicago Great Western and Western Pacific, rammed home the point that rail-road reorganization, new style, means completely wiping out the equity of common stockholders...
Last week, with no rataplan of drums, The Admiral and The Biscuit met at Pimlico. The purse was $15,000-mere horse feed. Both had been beaten by mediocre horses since last spring. But 40,000 devotees, nonetheless interested, jampacked the old Civil War race course outside Baltimore. In hushed silence they watched the two thoroughbreds walk up to the starting line,* watched Seabiscuit, with Georgie Woolf up, zoom in front in the first few strides. At the first quarter Seabiscuit was two full lengths ahead. Then a roar swept over the ancient stands: pretty little War Admiral, the favorite...
...technique of consulting the buyer on his tastes before making a product. In "Buck" Weaver's words, it is "finding out what people like, doing more of it, finding out what people don't like, doing less of it." A logical operating philosophy, it is nonetheless given scant consideration by U. S. industry. Most businesses rely solely on dealers, advertising agents and only occasional surveys to keep apprised of public preference...
...remedies. In his opening address Banker Frothingham gave measured expression to I. B. A.'s usual explanation-that the New Deal is to blame. Said he: "Business still feels the gravest concern and hesitancy to venture, in the atmosphere of restrictions and penalties that confront it." Nonetheless, Banker Frothingham gave the New Deal praise for right motives...
...White House. Last week Washington gossip was that the Administration group in the Temporary National Economic (Antimonopoly) Committee had definitely swiped control from Senator O'Mahoney. At least the committee last week sent out a batch of subpoenas without Chairman O'Mahoney's knowledge. Nonetheless, Senator O'Mahoney is still TNEC's titular chief and when he rose before the New York Board of Trade for his first complete explanation of his committee's purpose, Business sat up and took notice. Excerpts...