Word: grossness
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Dates: during 1930-1939
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Investment bankers generally refuse to underwrite small security issues for the plain reason that the bankers cannot pay the "fixed charges" and still make a worth while commission on the deal. Fixed charges in underwriting are legal fees, accountant fees and cuts to dealers. To gross $50,000, which investment bankers generally consider minimum per deal, the banker would have to charge an exorbitant commission to float a small issue. Said Mr. Vass: "The banker can afford to charge but 2% or 3% on the sale of a $10,000,000 or $20,000,000 issue, while he must charge...
...line of "Waldo Young." Its author, Editor Clarence Hebb, unwilling to leave Wall Street, announced he would continue the column as a broker's tipsheet. Meanwhile, the Wall Street Journal took over Investment News's 6,000 subscriptions, editorialized: "The business recession, rising costs and taxes upon gross -problems with which all business men are familiar-contributed to the final decision to suspend. More will be heard from this ghastly combination...
...show that it was not entirely unreasonable. Over 2,400 miles of paved highways, 16 ft. to 20 ft. wide, it has long limited the width of motor trucks to 90 in., their weight to 20,000 lb. Only in four other States-all in the South-is the gross weight of trucks fixed so low; nowhere but in South Carolina is there such a narrow (90 in.) width limit. Most U. S. trucks are 96 in. wide, though Rhode Island and Connecticut permit 102-in. widths. South Carolina allows a maximum length of 35 ft. Length in other States...
...Evansville Home Oil, Inc., Dixie Dance Wax, Inc. and a string of four gas stations) pays State and Federal income taxes, social security, encumbrance, personal property, gasoline, corporation, capital stock, truck wheel, chain-store taxes. This year these taxes will take $30,000, 20% of Harry Lang's gross. Last week Harry Lang announced: "I just wrote the President that I'd be willing to do it the other way around. Let him own the business and let me run it for him for five years at a salary equal to what I'd be paying...
...prime facts about the U. S. hardware business are: Its 1937 gross sales were $750,000,000. More than half of U. S. hardware stores are in towns with less than 5,000 people. Most hardware stores have been in the same family for two or three generations. Unlike groceries and drugstores they have held out resolutely against the chains. There are more than 10,000 hardware manufacturers in the U. S., but retailers buy most of their stock from 400 wholesalers...