Word: exempt
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Robert R. Young (Tues. 10:45 p.m., Mutual), the railroad executive, speaking against the forthcoming Bell bill (which would exempt railroads from the Sherman Antitrust...
...long the emergency measure will last," said Chief King, "because I really don't know. It all depends on how much more snow falls and how much of the snow the cleaners are able to take care of." All areas serviced by parking meters and Massachusetts Avenue will be exempt from this ruling...
...Blue Eagle days-without the fanfare. In Washington last week, the oil and steel industries quietly set up plans for voluntary allocation which they hoped would ease the nation's two greatest shortages. The first under the new anti-inflation law, the industry-wide agreements were exempt from the antitrust laws...
Life-insurance companies were a little embarrassed by one present in their Christmas stockings. By a fluke in the 1942 Revenue Act, the Treasury announced last week, most companies would be exempt from income tax on their 1947 earnings. Secretary of the Treasury John W. Snyder cried: "The situation calls for the immediate attention of Congress...
...insurance companies had asked that a percentage of earnings from investments be taxfree, as they were only held in trust for future payments on policies. The Treasury agreed that this was reasonable, and Congress passed a complicated formula to exempt 90 to 91%. When the formula was applied this year, the exemptions worked out to 100.7%. That would mean a windfall of upwards of $34 million. The companies agreed that this was more than they deserved and that Congress should draft a new formula for 1948. They were also willing to work out a retroactive adjustment...