Word: drainings
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...recorded another portentous retreat from the free capitalism of Adam Smith. Under it, Britain found that capital export opened markets, expanded prosperity across national boundaries, employed surplus British wealth. Today, British capital is no longer exported in this sense; it flees, and its flight is at this time a drain on national resources...
Germany, Italy and Japan have found a way to stop this drain. But they did so by violating capitalism's unwritten Magna Charta: That money must have a right to go wherever it can make profits and avoid losses. In Britain, this right has now been suspended by Sir John Simon's dictum: "The export of capital . . . would be deleterious to the national interest...
There are some 3,000,000 battery-run radio sets in the U. S. today, most of them operating on 2-volt tubes designed in 1930 to operate on heavy-duty, "air cell" batteries. Key to the 1938-39 portable is a low-drain, 1.4-volt tube developed last year. This tube, requiring slightly less "A" voltage and only 90 (instead of 135) volts for the "B" circuit, uses about one-third as much current as the 2-volt tube...
...made only 18? a share on its preferred stock, grimly paid holders the $1.75 coming to them: the difference, $5,644,368 (nearly half the size of Chrysler's profit for the quarter), came out of a generation of accumulated fat. This followed a $32,937,131 drain in 1938, caused by a loss of $7,717,454 and preferred stock dividends of $25,219,677. Once Steel's common holders worried anxiously about their dividends; now they know, and the preferred holders are taking their turn at worrying...
Main purposes of the plan are to check fascist lawlessness by cutting off war materials; to build up a reserve of these materials in the United States without further drain on the national budget; and to get some return on our war debts...