Word: deficits
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Dates: during 1930-1939
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...just before the 137 Class I railroads of the U. S. had rolled up a $181,000,000 net deficit for the first half of 1938, they moved to slash their greatest single operating cost. Notification was sent to railway unions that the roads would cut wages 15% effective July 1. Under the Railway Labor Act of 1926, preliminary horse trading thereupon began. Unions and management sat down together in Chicago, soon came to loggerheads. This automatically passed their dispute to the three-man National Mediation Board...
Organized in 1892. Great Western was sold under foreclosure in 1909. asked for reorganization under the Federal Bankruptcy Act in February 1935. It has never paid a common stock dividend, has never paid its $4 preferred in full. Last year the road piled up a $902,363 deficit. Had it been operating under the ICC-approved reorganization, it would have earned only 1.4% on its capitalization. This fact presumably prompted Commissioner Mahaffie to dissent again, ask for a more thorough revamping. Said he: "The majority approve a plan that cuts obligatory interest severely and to a basis that...
...Tide Water Associated. . . 7,696,701 5,992,705 Shell Union 8,480,927 5,830,437 Aircraft Douglas 525,822 1.093,149 Martin 526,307 1,372,600 Cinema Paramount 4,290,000 1,225,811 Twentieth Century-Fox (26 weeks) 3,755,483 3,419,658 d=deficit The gloominess of some of these earnings was somewhat lessened when they were broken down. General Motors, for example, made $24,786,002 in the second quarter of 1938 compared to only $8,234,017 in the first quarter. With a similar improvement from $2,109,969 in the first...
...animal kingdom, always useful to cartoonists, provided striking companion pieces from the pens of Harold Talburt of Scripps-Howard and Hugh Hutton of the Philadelphia Inquirer. Talburt's showed the master magician producing a Deficit Hippopotamus as lesser men produce rabbits. Hutton's showed a third-term tuna playfully leaping over Franklin Roosevelt, as he fished with a bobber for the small game of this year's election...
Aside from the stockmarket, official Nazi statistics showed last week that the shrinking foreign trade of Greater Germany has now reached a volume slightly less than the trade of Germany alone before Austria was absorbed. The comfortable surplus of Reich exports over imports last year has now become a deficit of some $40,000,000. If the future looked rosy even to Economic Four-Year-Plan Administrator General Hermann Wilhelm Göring, he would hardly have issued, as he did last week, a decree obliging everyone in Germany to turn over every last gold coin to the State...