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Papal encyclicals have been frequent during Depressions. The present Pope has not hesitated to denounce the evils of Capitalism. Though Papal utterances seldom descend to the denunciation of individuals, the collapse of Ivar Kreuger's crooked match empire (TIME, March 21 et seq.) was so fresh in the minds of the "Patriarchs, Primates, Archbishops, Bishops and other Ordinaries'' to whom His Holiness addressed himself, that few doubted that Suicide Kreuger* was in the Pope's mind when he wrote: "If what the Holy Ghost affirms through the mouth of St. Paul is ever true, much more...

Author: /time Magazine | Title: Religion: Urged by Charity | 5/30/1932 | See Source »

...Youngstown Sheet & Tube Co. et al. still reverberated in the Ohio courts last week. Frances T. Wick et al. were the complainants through whom Cyrus Stephen Eaton halted the merger of Bethlehem Steel and Youngstown Sheet & Tube, and so doing caused his own downfall (TIME, May 4, 1931 et seq.). The echo was an action by which Youngstown's minority sought to force the company to pay them the $1,000,000 they spent in legal fees and other expenses of the original action. Last week they were denied this in the District Court of Appeals by Referee John...

Author: /time Magazine | Title: Business & Finance: Deals & Developments | 5/30/1932 | See Source »

...William A. Gray and his investigators to prowl around Wall Street for more data, Senator Peter Norbeck's Banking & Currency Committee last week resumed hearings on the buying & selling practices of U. S. stock exchanges. Having heard a lot about post-crash short-selling (TIME, April 25. et seq.), the Committee now went back to the great pre-crash bull pools...

Author: /time Magazine | Title: Business & Finance: Anything Can Be Done. . . | 5/30/1932 | See Source »

Some three years ago the Earl of Feversham bought one of Pomona's prize stallions, Shelif. A controversy over the purity of Shelif's ancestry followed (TIME, Sept. 2, 1929 et seq.). Many Kellogg horses have been sired at Baroness Wentworth's stud in England, including Raseyn, a 7-year-old whose sire Skowronek narrowly escaped being hanged as a royalist in the Russian revolution. Other famed Kellogg horses: Jadaan, who carried the late great Rudolph Valentino on his cinematic sheiking expeditions; Pep and Rossika, trick horses; King John, said to be the only desert-bred Arabian...

Author: /time Magazine | Title: Animals: Horses to College | 5/30/1932 | See Source »

Good or bad, the MacEntee budget pleased the Laborites whose support keeps President de Valera in power. The President stuck last week to the job of keeping his other great campaign promise- his promise to abolish the Oath of Fealty to the King (TIME, Feb. 29, et seq.}. In Dublin the bill abolishing the Oath was before the Irish Senate having passed the Dail. Suddenly in London the beans were spilled by that pudgy-fingered, perennial bungler the Rt. Hon. James Henry ("Jim") Thomas, Minister of Dominions...

Author: /time Magazine | Title: IRISH FREE STATE: Poor Man's Budget | 5/23/1932 | See Source »

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