Word: curtailing
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Olds also boxed himself in worse than the situation warranted, by neglecting to point out one basic reason why the 1949 figures looked so much better than 1948's -because the steel industry had been forced to curtail production for six weeks in the spring of 1948 while John L. Lewis' coal strike was on. Instead, Olds contented himself with asserting that Big Steel's ability to pay had nothing to do with the case. Said he: "There is no justification at this time for a fourth round . . . I do not believe it would be good...
...months seven U.S. oil companies have folded their rigs and suspended drilling in Colombia. Last week Shell, having sunk $90 million trying to get profitably established, announced that it was forced to curtail operations. That left only two small outfits drilling for new fields in Colombia. Three big U.S. companies (Socony-Vacuum, Texaco and Jersey Standard's Tropical) have put too much money into old, producing fields to pull out now; but they have virtually given up trying to find new oil for the present...
...Washington, the Justice Department asked CAB to go slow on an order which would restrict (and perhaps drive out of business) most small nonscheduled lines. DOJ thought the little fellows did a lot of good. Said DOJ: "The subsidized . . . carriers have little incentive to curtail extravagances in the absence of competition...
...Harvard Liberal Union may have to curtail its spring film series if University Theater protests are sustained...
Slichter's view was not shared by Alvin H. Hansen, Littauer Professor of Political Economy, and Seymour E. Harris '20, professor of Economics, who stamped full approval on the tax program. Harris rejected the claim that the new tax would curtail industrial expansion dangerously. "Industry has been expanding too rapidly already, and large corporation profits will only aggravate the inflation," he said...