Word: grosse
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Dates: during 1950-1959
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Prado took over an economy that was (and is) basically strong and growing, if temporarily tormented. Its free-enterprising policies have brought $970 million in foreign capital, and between 1948 and 1957, gross national product almost doubled. At first Prado hiked wages and the budget too abruptly, and the U.S. recession dropped commodity prices: copper 44%, cotton 25%. The Peruvian sol dropped from 19 per $1 to 25. But Prado fell back on his banker's training, hiked customs as high as 200% on luxuries, clamped rigid reserve requirements on banks and stabilized...
...Industrial production is back almost to peak levels, and yet industry still has 20% unused capacity, along with 4,108,000 unemployed (6.1% of the labor force). There are other doubts about economic growth. After half a century of expansion at an average 3% annually, the real U.S. gross national product (excluding price boosts) has gained only an average 1.3% annually over the last five years...
...billion worth of stamps on business mail every year. This not only saves millions in postal handling costs for the U.S., but it brings to P-B exceptionally high profits of 9? per revenue dollar. P-B announced this week that 1958 earnings rose 7% to $4.4 million on gross income of $51.3 million. P-B will split its stock three for one (current price: $92.50), boost the annual dividend rate from...
...more time than others to climb back to pre-recession levels. Yet even in oils, still beset by political troubles abroad and price problems at home, the fourth-quarter pickup was strong enough to cause Chairman K. S. Adams of Phillips Petroleum to predict: "If present trends continue, both gross and net income in 1959 will be the highest in the company's history...
...miles of freight, up 6.4% from 1937. American gained 15% (to 95 million ton-miles); United gained 14% and Delta 40%, in the first eleven months alone. The Flying Tiger line, operating largely as a cargo carrier, jumped 25%, to 65.6 million ton-miles and a $12 million gross. The big boost comes from a new approach to cargo by both the lines and businessmen. Instead of relying on emergency shipments of badly needed goods and the small oddball traffic in perishable orchids, baby whales and race horses, the airmen aimed a new pitch at solid production-line items...