Word: annually
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Dates: during 1960-1969
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...establish a "floor" on charitable deductions by making only contributions above two or three per cent of an individual's annual income tax-deductible...
...last fall. The federal budget is expected to shift from last year's deficit of $25 billion to a small surplus in fiscal 1969, resulting in far less Government-generated economic demand. Meanwhile, the Federal Reserve Board has moved to tighten the money supply. After growing at an annual rate of more than 7% in late 1968, the supply rose at a 3.7% rate in January, and is expected to show even slower growth in February...
...such a powerful and persistent tide of mergers, raids and takeover attempts. The volume of mergers doubled last year, when firms paid a record $43 billion-mostly in securities-to acquire 4,462 other concerns. The average price for a company jumped 40%, to almost 25 times its annual earnings. This year the volume of mergers will be larger, the prices higher and the controversy more intense...
...chairman of 71-year-old Leasco Data Processing. Last year his Manhattan computer-leasing firm gained control of Reliance Insurance, a large multi-line company, and squeezed a $100 million dividend out of its coffers to finance other Leasco operations. Last week Steinberg admitted at Leasco's annual meeting that his takeover appetite has grown so big that he would like to swallow Chemical Bank New York Trust Co., the nation's sixth largest commercial bank (assets: $9 billion). Chemical Chairman William S. Renchard has promised to fend off "aggressors" vigorously...
...huge initial investment, airline officials anticipate major economies. The 747s are expected to reduce seat-mile costs by about 30%, even though they will not carry the maximum load of 490 passengers. Fares may be cut eventually, but the first beneficiaries will be the pilots. The top annual salaries of captains who fly such planes will go up from $45,000 to $57,000 for 80 hours' work a month...