Word: freights
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Dates: during 1950-1959
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...itself assiduously to seeing America first, hitting the highways in the cool of the morning and getting into the best cabin courts by midafternoon. Thousands of Westerners and Southwesterners were reinstituting an old prewar custom-going to Detroit to pick up a new car and using the savings in freight charges to finance their trip. Almost every automobile company was cooperating enthusiastically; some not only guaranteed prompt delivery, but free showers, free food and free beds to those waiting for cars...
...agreed on the meaning of Congress' bill to legalize a form of basing point pricing system for U.S. industry (TIME, June 12). The bill's author, Democratic Senator Joseph C. O'Mahoney, no friend of big business, insisted that it would permit U.S. industries to absorb freight charges (if done "without collusion") and thus help competition and the consumer. Other Administration supporters, notably Illinois' Senator Paul Douglas, denounced the bill as a scheme to stifle competition...
Last week, while President Truman studied the bill, the Federal Trade Commission suggested a helpful way to settle the family fight. FTC asserted, as it had before, that it was already perfectly legal for businesses to absorb freight charges and quote delivered prices as long as they did not conspire to fix prices. Seizing this argument, President Truman at week's end vetoed the bill. "It is quite clear," he wrote, "that there is no bar [at present] to freight absorption or delivered prices as such . . ." Though his bill was killed, Senator O'Mahoney, a master of political...
...prosecuted before on other matters after taking such assurances at face value, would probably think twice before testing Truman's promise. And such industries as steel, cement, etc., which were most affected by the 1948 Supreme Court decision outlawing the basing point system, had no need to absorb freight. They could sell all they produce f.o.b. the mill...
Already CCC had stored up enough wheat and corn (516,242,531 bushels) to fill a freight train stretching 11,679 miles -almost halfway around the world at the equator, enough cotton (3,600,000 bales) to loom 90 million bedsheets. In storage it had all the dried eggs (88 million lbs.) that U.S. bakers would need for the next eight years, enough butter (99 million lbs.) for the baking of 495 million cakes, and enough powdered milk (316 million lbs.) to irrigate the Wheaties of all New York City's schoolchildren for several years to come. There were...