Word: bankrupts
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...pawn in the establishment of Reciprocal Trade Agreements. While the program may sound wonderful in theory, it is not "reciprocal" in practice. How can there be reciprocity, when we are dealing largely with countries whose economies are managed, whose currency is pegged, and who are, furthermore, largely bankrupt...
...health of U.S. youth. "The Army wants boys for twelve months consecutively because it wants to change their habits of thought, to make them soldiers, if you please, for the rest of their lives." It was unAmerican. "Militarism has always led to war, not to peace. . . . We are indeed bankrupt of ideas if we cannot provide a method by which necessary military forces and reserves are provided by an American voluntary system." He suggested a summer training program for 200,000 volunteers...
...order to save their dwindling industry, they induced the Roosevelt Administration to begin a wool-buying program. The Commodity Credit Corporation bought every pound of domestic wool at a fixed price. But Australia, which is much more efficient at sheep-raising and must sell wool or go bankrupt, sold to U.S. manufacturers at a lower price, in spite of the tariff wall. Combed U.S. wool was priced at $1.20; combed Australian, generally a finer grade, was sold at $1.09, which included 34? tariff. U.S. manufacturers bought Australian wool while U.S. wool piled up in Government warehouses. Last spring the warehouses...
Like a mourner laying a nosegay on a grave, Miss Josephine Roche last week paid the first liquidating dividend of her bankrupt Rocky Mountain Fuel Co., the company the United Mine Workers loved. The dividend of 25? on each of the company's 758,720 shares of common stock came from sales of coal lands and royalties from mines leased to other companies...
Miss Roche signed a contract with the union, the first in Colorado. But the shaky company, heavily over-capitalized by her father, began to slip when natural gas came into Colorado, went bankrupt in 1944 (TIME, Aug. 6, 1945). When liquidation is completed, in five or six years, Lewmurken, which owns 23% of the company, may have received as much as $300,000 in all. But the U.M.W. is shedding no tears over its loss. It was richly repaid in the unionization of all Colorado coal mines...