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...summa cum laude. He traveled in Europe, taught economics at the Imperial University at Tokyo, became in 1908 an original faculty member of the Harvard Business School. His extemporaneous lectures on finance and banking were so good that at least one pupil reproduced them and sold them at a profit to outside businessmen. Abnormally nearsighted, Professor Sprague could not identify even his front-row students through his thick glasses. In April 1930, the Bank of England lured him from Harvard. When Britain went off gold, Expert Sprague helped run its Equalization Fund whereby the pound was kept...

Author: /time Magazine | Title: National Affairs: Three Notches Open | 6/5/1933 | See Source »

Last week was one of high exuberance for everyone connected with Union Pacific Railroad-from Chairman William Averell Harriman and President Carl Raymond Gray down to Jose the trackwalker. The green ball, signal for clear right of way, was showing. The road was clicking away towards profit...

Author: /time Magazine | Title: National Affairs: Green Ball | 6/5/1933 | See Source »

...Standard Oil of New Jersey reported a profit of 1? a share in its 25,000,000 common shares...

Author: /time Magazine | Title: Business: Downtown | 5/29/1933 | See Source »

...ease, answering routine questions for the record. Yes, Drexel & Co. in Philadelphia was a Morgan affiliate and yes, there were two houses abroad, Morgan & Co. in Paris, Morgan, Grenfell & Co. in London. Yes, Morgan & Co. always paid interest on demand deposits and yes, he supposed the private banks would profit from provisions in the Glass bill forbidding national banks to do the same thing. The rate of interest on deposits in the Morgan bank had been as high as 2½%, now is about one-half of one percent, conforming to the New York Clearing House rate. No. the firm...

Author: /time Magazine | Title: Business & Finance: Biggest Show | 5/29/1933 | See Source »

...Postal and last week's deal with Ericsson, lay four years of adversity. Bestriding the world, I. T. & T. was, in 1929, in excellent position to flounder and be lost in a violent world-wide storm. Interest charges on new capital seemed to be mounting faster than new profits. Revolutions and bloodshed in South America threatened not only I. T. & T.'s property but its contracts as well. The revolutionary government of Spain talked loudly of canceling the agreement which, five years before, had given I. T. & T. its first major boost to prominence and profits. The fall...

Author: /time Magazine | Title: Business: Behn Marches On | 5/29/1933 | See Source »

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