Word: firming
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Dates: during 1930-1939
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...BACHE, well-known Jewish financier and philanthropist, head of the firm of the same name in Manhattan, organized two Canadian corporations. To one of them, the Wenonah† Development Co. Ltd., he transferred $13,000,000 of assets in 1930. Thereafter the income from this money escaped the high personal surtaxes which Mr. Bache would have had to pay if he received it directly. From his company he borrowed $2,300,000 in 1932 and in 1934 the interest which he then paid the company canceled out his remaining U. S. income, thereby making him virtually income-tax-free...
...face-saver for the Prime Minister, Britain's stiff new tax has the same name as the shelved tax trap: The National Defense Contribution. Irrespective of whether a firm's profits are increasing so fast as to suggest "profiteering" or not, Simple Simon's tax is to bear with equal weight on virtually all British firms with annual net profits of more than $10,000 per year. It is a supertax. Its intent is to raise the existing average 25% income tax on British firms to 29% in the case of partnerships, 30% in the case...
...initial print order of 600,000 is planned for the combined magazine. Before Literary Digest mispredicted a Landonslide last year it alone had 685,537 circulation. The Digest will accept liquor advertising, something which Literary Digest never did. The firm of Funk & Wagnalls will continue in the book and dictionary publishing business under the management of Robert J. Cuddihy & sons, who own 60% of its stock. President Wilfred John Funk, son of Founder Dr. Funk and 40% stockholder, is reported to have an idea for a new magazine up his sleeve...
Some economists believe that the next great credit expansion will blow out in installment paper, just as in the last boom it blew out in stock market loans. Pointing out the political problem involved in any future effort to restrict consumer credit, the New York Stock Exchange firm of Biggs, Mohrman & Co. lately observed in a thoughtful little pamphlet called The Next. Boom & Collapse...
...matter how stalwart is your faith, how firm your grasp on what you yourself believe to be the significant aspects of human existence, you require something more to live an active and self-directed life in this complex modern world. A man requires an education commensurate with the intellectual burdens he is to carry. A man must have the ability to deal with the situations he is to face, and today these situations lost intellectual capacity as well as character. Courage and integrity are as essential as ever but they have need of powerful allies. Unless a man's character...