Word: bargaining
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Dates: during 1940-1949
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George McNear got into railroading in 1926, when he spied T.P. & W. on the auction block, outbid giant Pennsylvania R.R. by paying $1,300,000 ($130,000 in cash). T.P. & W. hardly seemed a bargain, but it had one big asset: over its 239 miles of track (between Effner, Ind. and Keokuk, Iowa) transcontinental freight can save days by dodging the Chicago terminal bottleneck. McNear got to work and within 45 days the long-bankrupt road was making money. It has made money ever since. Last year it earned a neat $365,000 on $2,775,000 revenue...
...Japan's universal manhood suffrage would be supplanted by votes for no one except family heads and military reservists. This "reform" would have disfranchised some 2,000,000 voters, including many unwarlike Japanese, both liberals & conservatives. A howl rose in Diet circles. Finally, in January 1941, a political bargain was struck. The Government dropped its electoral-reform scheme, extended the term of the current lower house for a year, promised not to press legislation which would have increased Japan's economic totalitarianism. In return, the Diet agreed to pass huge military appropriation bills with maximum speed and without...
There was nothing in this bargain to prevent the Diet from again acting as a sounding board when this year's elections came around. The Japanese radio announced that 378 out of 466 seats had been won by Government-supported, war-favoring candidates. If 20% of the elected candidates were unsupported by the Government, probably much more than 20% of the total vote was cast for candidates unsupported by the Government. This did not mean that Japan was on the verge of collapse: it did seem to mean that at least one Japanese voter in every five is seriously...
...year for about $10,000,000. That is the two-thirds of Peru's crop which she exported before the war; the rest Peru sells to her neighbors. The U.S. will not try to import its purchase, but will leave it in Peru. As its part of the bargain, Peru agrees to try to reduce her cotton acreage, substituting non-surplus crops like flax, rice, beans. For every 1% change in cotton acreage after this year, the U.S. price to Peru will move 1½% in the opposite direction. Just to check up, aerial photographs will be taken...
...last October, got cash offers totaling $10.4 billions. Last month the market took $1.5 billions of 10-13-year 2¼s, but not so eagerly: offers were only three times that amount, showing that the Treasury was shooting closer to the ruling price mark, getting a better bargain...