Word: businessmen
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Dates: during 1950-1959
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...people who live in Netherlands-size Oriente province and its capital, Santiago de Cuba. Santiago professional men shelter Castro's couriers in their homes, support the rebels by buying $5, $10 and $100 "bonds." Among workingmen, there is a brisk trade in $1 bonds. Businessmen arrange shipments of supplies to Castro. When the government reportedly purchased five rebel-tracking bloodhounds, Oriente resistance members scornfully loosed a pack of mongrels on the streets, each wearing a Castro arm band on a front...
...steamship or plane tickets they could purchase with sterling. Last week, recognizing that restrictions "have erected an unnatural barrier between the English-speaking peoples," Chancellor of the Exchequer Peter Thorneycroft increased travelers' allowances to ?100 (U.S. $280) a year in dollars in the U.S. and Canada, and increased businessmen's expense allowances...
What worried businessmen was the sweeping nature of the decision, putting a new emphasis on the nation's antitrust philosophy. As Justice Harold H. Burton wrote in his dissenting opinion: The ruling "disregards the language and purpose of the statute, 40 years of administrative practice and of the precedents . . . except one District Court decision. To make its case, the court requires no showing of any misuse of a stock interest-either at the time of acquisition or subsequently-to gain preferential treatment. All that is required, if this case is to be our guide, is that some court...
Trouble All Around. As a result of the decision, businessmen could descry trouble ahead for dozens of big and little U.S. companies. Sears, Roebuck & Co. owns big blocks of stock in such suppliers as Whirlpool-Seeger Corp., Florence Stove Co., and Armstrong Tire & Rubber Co.; Gulf Oil has a 12% interest in Texas Gulf Sulphur, which supplies Gulf with sulphur; Olin Mathieson Chemical has 25.8% of Marquardt Aircraft and 50% of rocketmaker Reaction Motors, for which it is helping develop rocket fuel. And by successfully going back 30 years to trip Du Pont, trustbusters had won the right...
...Businessmen are also learning to use trusts and foundations to reduce the standard 25% capital-gains tax on the sale of securities or property. Stockholders who want to diversify long-term holdings but hesitate because of heavy capital-gains taxes can donate the stock to a tax-free trust on condition that it will be sold and reinvested with the income going to the donor for life...