"In these days of changing social, economic and political values," Sears, Roebuck's President Robert E. Wood wrote to stockholders last week, "it seems worth while in this annual report ... to render an account of your management's stewardship, not merely from the viewpoint of financial reports, but also along the lines of those general broad social responsibilities which cannot be presented mathematically." Mathematically for the No. 1 U. S. mail order house, 1936 scarcely could have been better. Sears enjoyed the best year in its history. So did its older and smaller rival,...
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