Word: billioned
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Dates: during 1950-1959
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...Government at the announced price ($1.10 per bu. minimum). This danger is increased by the termination this year of the Soil Bank's expensive "acreage reserve" section, under which farmers were paid for keeping acres out of corn and other cash crops. Benson himself knows that the $6 billion annual cost of the farm program, big enough to bother Hubert Humphrey, is not likely to come down very fast. But he is heartened by the fact that the new bill at least starts the program in the right direction...
Records & Ranges. The new farm prosperity spread across the board. Hardly a crop or an area failed to prosper. Producers of livestock and livestock products took in $9.1 billion in the first half of this year for what actually was a smaller quantity of meat, poultry and dairy products than they sent to market in January-June 1957. Even the surplus-ridden wheat, cotton, corn and other crop producers managed to boost sales by 10% to $4.7 billion. In some states the increase in farmers' cash receipts was nearly 100%. Texas farmers, from January through May, took...
FOOD MERGER is in works between fast-growing Corn Products Refining Co. and Best Foods, Inc. to create grocery processor second only to General Foods Corp. (annual sales: $1 billion). Corn Products (Mazola salad oil, Karo syrups) grossed $495 million last year, while Best Foods (Nucoa margarine, Hellmann's mayonnaise) grossed $114 million...
...including Jordan, Iran and Turkey. Pacts with Lebanon and Iraq were being negotiated when the shooting started. Since 1948, 220 policies covering $207 million worth of foreign investment have been sold. But this is barely a drop in the foreign-investment bucket: U.S. investment abroad rose by about $3 billion last year to a total of $36 billion...
...From beneath the burning deserts of the Middle East flow more than 4,000,000 bbl. of oil a day, a quarter of the free world's production. About 90% of the oil is exported, and 58% goes to Western Europe. Western oil companies have more than $3 billion in plant and equipment invested in the Middle East, 47% of it owned by U.S. firms. Now all this is seriously threatened...