Word: bankrupts
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Honestus: U.S. farm programs produce a rich crop of ironies. The price-support system was started during the Great Depression to keep farmers from going bankrupt. Yet in actual operation, it helps the poorest farmers least; the really hefty price-support payments go to the big operators. A notable recipient of price-support payments in recent years has been the Delta & Pine Land Co., a sprawling Mississippi firm largely owned by British interests; it's been getting more than a million dollars a year in price-support loans on cotton. Another irony is that, while supposedly helping to preserve...
...only solution McGinnis sees to the B. & M.'s troubles is a merger, and he is moving over to chairman-at a $44,000 salary cut-to put all his time, and his experience as a longtime Wall Street expert on bankrupt railroads, into finding one. McGinnis would first like to merge the B. & M. with the Delaware & Hudson, with which it connects, and then with the booming Norfolk & Western. This arrangement would eliminate much of the $7,000,000 a year that the B. & M.. as a terminal line, pays other railroads in freight car charges...
...novelist-on the cover. Other weeks it is the cover that seems to be the draw. And often, of course, cover subject, newsi-ness and public interest happily coincide. Such was the case with the recent Billie Sol Estes cover. The newsstand interest in this spectacular Texas bankrupt, added to the rising number of regular TIME subscribers, combined to make that issue our alltime leader in circulation, with 2,784,000 copies...
...like a factory, an apartment building, an auditorium, a "cross between a supercinema and a slaughterhouse"-almost everything except a cathedral. Spence immediately received 700 letters, mostly abusive. While construction was held up for 2∧ years of arguing, he received no other commissions, recalls now, "I went almost bankrupt." Finally, in July 1954, the building was started...
...major U.S. railroad has wheezed through more investigations-or heard more advice-than the bankrupt New York, New Haven & Hartford. Creditors have poked, probed and counseled; so have state commissions and committees of weary commuters, whose fares have gone up 108% since 1955. It was probably inevitable that the Kennedy Administration would step in: after all, the Government has guaranteed $35 million in loans to the New Haven...