Word: basketfuls
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...months, in corridors and cloakrooms, at cocktail parties and committee hearings, Washington has been talking about three "baskets." These "baskets" were neither wicker containers nor scoring points in a game but Congressional slang for different sections of the new tax bill-each basket being designed to> catch a certain type of taxpayer. Most discussed has been the "third basket," for it carried the largest load of a pet Administration theory-the tax on undistributed profits...
Individual scoring means little in the Fesler system which depends on fast, clever ball-handling working in toward the basket. Sudden breaks by one of the forwards provide the scoring punch, with tall John Herrick stationed under the basket to tip in any shot that misses he center of the rim. When the players have the "eye", the system is unbeatable. In the same way, a great deal of the team's success depends on whether Herrick has the touch to bat the ball...
Captain Vernon Struck has also been having difficulty in hitting the basket this season with a scant 23 points in league competition. But Struckie along with Ulysses Lupien has played a major part in the Crimson defense that has been so effective in the last few games. Against Columbia the Feslerman were able to hold the opposition to six points in the second half and Tuesday night kept the Ithacans to eight tallies in the last period...
...variety are conspicuous enough to have SEC brewing plans to regulate them. Most consist simply of a pool of money kittied in by numerous individuals and invested in a broadly diversified number of stocks and bonds. Advantage for the individual is that his eggs are not all in one basket. Instead of putting his money on one or two stocks, he is banking on the combined action of a great number. Commodity Corp. uses the same procedure, but instead of buying stocks and bonds, it buys actual commodities or commodity future contracts. On December 31, 35% of its portfolio...
...Third Basket: Closely-held corporations earning more than $50,000 would be subject to an additional surtax. By elaborate definition a corporation would be "closely held" if a family owned 50% of its stock or two unrelated persons owned 53%, three persons owned 56%, and so on up to ten persons owning 75%. The surtax would apply only if a closely-held corporation failed to distribute less than 60% of its profits. And while the rate would be 20%, the surtax would be figured on a different base with a number of heavy credits. In most cases the surtax...