Word: roebuck
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Dates: during 1920-1929
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Famed as leader of "calendar reform" is George Eastman. Last week to his side came Julius Rosenwald's Sears, Roebuck & Co. which announced it will operate next year on a 13-month schedule. To its customers, the introduction of some new month such as "Sol" will mean nothing, but 40,000 employes will have to consult their company's new calendar to learn when payday falls...
Closely does Sears, Roebuck's decision follow upon the publication last fortnight of the results of balloting conducted by the U. S. Chamber of Commerce. Although 1,580 voters had favored a new calendar as against 1,197 opponents, a two-thirds majority is necessary before the Chamber of Commerce can endorse a movement...
While a uniform calendar has many advantages, its opponents argue glibly. Cost and confusion of a change would be overwhelming. Religious days such as Easter could not be fixed without the Church's approval. But state and city holidays wishing the new calendar can freely follow Sears, Roebuck's example, install it without further balloting...
Heroes. Julius Rosenwald, board chairman of Sears, Roebuck, early in the decline offered to cover the margin accounts of all his employes, became the prime hero. Later Standard Oil of New York became hero-ized with its announcement that it would lend $43 a share ($11 above the market at one point) to employes who had borrowed on their holdings. Other helping companies were Standard Oil of New Jersey, Humble Oil, Gulf Oil, U. S. Steel, Newton Steel. Late last week, when Washington's official silence was broken with promise of the tax reduction, then of an industrial conference, Hoover...
...Chicago Philanthropist Julius Rosenwald, board chairman of Sears Roebuck Co. guaranteed the margin accounts of all his employes. Two days later Chicago's public utility tycoon and opera promoter Samuel Insull announced that he would do the same thing. And so did Samuel W. Reyburn, president of Manhattan's department store Lord & Taylor. But the climax came when the wizened little man who lives in the fortressed home in Pocantico Hills, N. Y., said: "My son and I have for some days past been purchasing sound common stock." In memory of many a trader in Wall Street, John D. Rockefeller...