Word: raws
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Side by side were two General Foods balance sheets,, one for employes, the other for stockholders. For his stockholders Mr. Hutton merely amplified in simple terms the usual statement. Sample item: "Cash (Needed to pay for raw materials and to meet payrolls amounting to approximately $1,000,000 monthly, taxes averaging $383,000 monthly, insurance, including contributions by employes to annuity fund, averaging $100,000 monthly...
More interesting was Humanizer Hutton's balance sheet in which all figures were expressed in dollars-per-employe. The cash item read: "Needed to pay for the raw materials you, as an average employe use, and to meet your pay which averages $130 per month, to meet taxes which average $49 per month per employe, etc.?$1,203.28." Inventory amounted to $2,441 per employe, fixed assets $2,468 per employe. On the liability side Humanizer Hutton explained common stock and surplus thus...
...with "deepest regret," the Browns announced that they would have to default their obligations. They admitted that business was better in the first half of this year but declared that renewed price-cutting following the death of the Blue Eagle plus wage boosts, plus increased freight rates, plus rising raw material costs, had again pushed their operation into the red. Furthermore, a financial reorganization under the Bankruptcy Act now seemed imperative...
Back in Los Angeles after a fortnight of fun in Hawaii was Postmaster General James Aloysius Farley. While bathing and basking in the sun there, he ran afoul Naval regulations by taking a cinema of the arrival of the Pan-American Clipper. Loyal Democrats paid $3 apiece for a raw fish and octopus banquet at which Boss Farley told them: "The United States is making reasonably steady strides back to prosperity. You can see it everywhere. You can take any index you please...
...prideful lot were the nerve specialists who met in London last week for an International Neurological Congress. To them, the brain, cathedral of human intelligence, is no more than 2½ lb. of raw meat, the cerebrospinal nervous system, conveyor of human will to muscles, a set of puppeteer's strings; the sympathetic and parasympathetic nervous systems, a network of complex paths, lanes, byways and highways through which the human soul moves strangely. To know the complexities of the neural ways and cords and of the cerebral mass requires a chess player's intricate mentality. To dare...