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...Germany, limited Dutch imports. Dutch exports of bulbs and diamonds fell along with needed imports. Meat exports increased in 1914 and 1915, dropped in 1916 and 1917 as Germany ran out of gold. Shipping was the great Dutch source of profit during the war; even though submarines and mines sank 199.975 tons of Dutch shipping, the total merchant tonnage of The Netherlands increased from 1,297,409 to 1.574,000 between 1914 and 1919. In 1915 the Holland-America Line paid 50% in dividends; in 1916, 55%. Gross profits of 17 largest Dutch steamship companies were 32,400,000 florins...

Author: /time Magazine | Title: Background For War: The Neutrals | 8/14/1939 | See Source »

Some said that old Costanzo Ciano, who was made an Admiral and a Count after the World War during which he stole into an enemy harbor and sank six Austrian cruisers, arranged the Edda Mussolini-Galeazzo Ciano marriage in 1930. At least, before the marriage the Ciano family fortune was small but when the old man died three weeks ago it was estimated one of the greatest in Italy. Before his marriage Galeazzo was another of those golden lads who liked to hang around the Excelsior and Grand Hotels in Rome, where rich U. S. heiresses generally stayed...

Author: /time Magazine | Title: Foreign News: Lady of the Axis | 7/24/1939 | See Source »

...hole total of 292, it looked as if an American would once again win the Open. But while Johnny Bulla fidgeted in the clubhouse and 5,000 Britons held their breath, Richard Burton, a Cheshire pro, ambled up to his ball on the 18th green, sank a long putt for a birdie 3 and a 71 that beat Bulla by two strokes...

Author: /time Magazine | Title: Sport: Over There | 7/17/1939 | See Source »

...September 1920, the 5-5 sank off the Delaware Capes. Evidence was that she, too, was flooded through the pipes which supply a subrftarine's Diesel engines and crew with air when on the surface. (Undersea, battery-driven motors propel a submarine, stored air supplies the crew.) A Board of Inquiry thereafter recommended steps to find out whether an automatic, interlocking control could be developed so that when air valves were open, the ballast tanks which weight a submarine with water and make it dive could not be filled...

Author: /time Magazine | Title: National Affairs: Whole Truth | 7/3/1939 | See Source »

...Universal Trading Corp. to finance Chinese purchases in the U. S. Shortly afterward, Great Britain lent $25,000,000 to the Chinese to stabilize the Chinese dollar. With the Chinese treasury thus bolstered, the Japanese yen, whose value has been depreciated in the occupied areas for some time, actually sank below the value of the Chinese dollar. Moreover, the Japanese cannot get needed foreign exchange from China with which to buy planes, oil and scrap iron so long as deals on China's coastal soil are cleared through western treaty port banks...

Author: /time Magazine | Title: Background For War: ASIA - Chiang's War | 6/26/1939 | See Source »

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