Word: fiveyears
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...perhaps more than all that the obsolescent U.S. airways traffic-control system can absorb. CAA is now in the midst of a modernization program, has expanded personnel from 19.000 to 29,000 in three years, is training hundreds of new airways traffic controllers. The CAA's fiveyear, $1 billion program is due for completion in 1962-but the U.S. airways are in need of the 1962 program right...
CHINA-JAPAN TRADE DEALS are off. Businessmen from Japan have been ordered to leave Red China, all import-export licenses are invalid, and ballyhooed fiveyear, $560 million Chinese-Japanese barter deal is dead. Chinese claim break is due to Japanese Premier Kishi's "hostile attitude toward China," but a main reason is that Red Chinese are trying to welsh on some deals...
Things were even worse for the New York Central, which passed its second-quarter dividend after a January-February loss of $13.8 million. To economize, the Central will drop its fiveyear, $500 million modernization program, complete only about $20 million worth of projects under construction. The Baltimore & Ohio in February suffered its first monthly deficit since 1951, lost $990,000. Though still in the black, the Chesapeake & Ohio reported a decline in first-quarter earnings on common stock from $1.75 last year...
Another major public financing got started last week. In St. Louis, Southwestern Bell Telephone Co.'s board voted to float $100 million in new debentures to help pay for its fiveyear, $1,125,000,000 expansion program. If stockholders and the Securities and Exchange Commission approve, the issue will...
...Georgia, which is now completing a fiveyear, $261 million building program, both Governor Marvin Griffin and Senator Herman Talmadge are against federal aid. State Superintendent of Schools M. D. Collins has endorsed it because he thinks it would hasten school construction. "Georgia," says he, "is certainly capable of financing its own school program, but it would have to be on a long-term basis, say 20 years. The question is whether Georgia wants to take on such an obligation...