Word: bonanzas
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Dates: during 1950-1959
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This spring the bonanza began to peter out. Last week one of the most knowing New York publishers said flatly: "The paperbound business is going to hell." Paperback sales were down only about 10% from last year, but returns of books from dealers were up as much...
Wouldn't it be nice if we unfortunate proletarians could take advantage of a tax bonanza such as is enjoyed by millionaire oilmen, i.e., a "depletion allowance which permits them to pocket 27½% of their gross income (up to 50% of their net) before paying a cent of taxes," so that we could live comfortably and, still have something left. But, alas! Someone has to pay those taxes...
...Rich. One big reason Murchison is able to swing such varied deals is the tax bonanza enjoyed by all oilmen. This is the depletion allowance which permits them to pocket 27½% of their gross income (up to 50% of their net) before paying a cent of taxes. Such old-time Texas millionaires as Jesse Jones, who owns dozens of Houston's choicest buildings, and Publisher Amon Carter, whose Fort Worth Star-Telegram is Texas' biggest paper (circ. 241,582), were able to amass their first riches in other fields. So was Dallas' Leo Corrigan...
Brazil's Bonanza. While France has been helped by a good crop year, Brazil has profited from crop failures. The coffee and cocoa price boom, plus tight restrictions on imports, has changed Brazil from a debtor nation nine months ago to one that has a trade surplus of almost $370 million. Cocoa prices went up 112% after the failure of the African crop. Though frost cut Brazil's coffee exports 15%, prices went up 50%. Net additional profit to Brazil: $165 million...
Payoff. With the help of the jet age, hustling President Bunker has managed to turn moly into a bonanza. When Bunker, who is considered one of the top U.S. authorities on raw materials, took over Climax in 1949, the company owned North America's biggest known supply of the metal, in Colorado, but had few buyers. Bunker, 58, went to Washington to argue that the U.S. was in poor shape for the heat-resistant alloy it needed for jet engines, persuaded the Government to start buying...