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Having thus explained Japan, the Japanese and the Panay incident (TIME, Dec. 20, et seq.) to the New Orleans press, the Hon. Kaju Nakamura was ready to bow his visitors out. But on the smoke-screen point they pressed him vigorously, recalling that sharp U. S. eyes had brought back reports of Japanese bombers wheeling down out of a clear, bright winter sky. Fenced the Hon. Nakamura, grinning toothily, "This is my story, and I'm sticking...
...Richard Whitney to the bar!" This week in the New York General Sessions Court of red-haired Judge Owen W. Bohan these simple words finally summoned the onetime president of the New York Stock Exchange to be sentenced for stealing his customers' securities (TIME, March 14, et seq.). His heavy face haggard, his hands twitching, Richard Whitney stood...
Ethiopia (TIME, Sept. 9, 1935, et seq.). A typical Ben Smith achievement was his handling of the J. I. Case Co. stock when it tumbled during the Hoover Depression. He kept selling J. I. Case short until he had made huge gains, sloganizing nervous Wall Street at this time with respect to all stocks: "Sell 'em! Sell 'em! They're not worth anything!" Last week famed "Sell 'em Ben" Smith was close-mouthed as usual, but expansive Francis W. Rickett glowingly described his conference with General Lázaro Cárdenas, the "New Deal" President...
...Attorney General Robert Houghwout Jackson, charges of dealer coercion were presently brought against the "Big Four" in Milwaukee. But the case fizzled when Judge Ferdinand A. Geiger indignantly dismissed it, after hearing that Robert Jackson was trying to arrange a consent decree on the side (TIME, Nov. 22, et seq...
Washington has been expecting Mr. Hosford's exit ever since his commission was forced to drop its entire schedule of minima when courts found they had been prepared without requisite public hearings (TIME, Feb. 21, et seq.). However, Franklin Roosevelt last week asked Chairman Hosford to remain on duty until April 30, thus provoked an uproar. Gloating over Mr. Hosford's downfall, the minority group in the commission, which has long opposed him, called him into executive session and asked him to get out of his office at once. He did so. John L. Lewis and Senator Joseph...