Word: herds
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Dates: during 1960-1969
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...remaining $2,250 represents the down payment on the herd, which, like factory machinery, is depreciable...
...year amounted to $15 million and yielded nearly $1,000,000 in fees and commissions. He caters to a solvent and not exactly saddle-sore clientele (among past and present customers: Banker Robert Lehman, Comedian Jack Benny, Actress Joan Fontaine). For would-be instant cattlemen, Oppenheimer will assemble a herd, buy a spread, hire a manager and oversee the whole operation. "Real crapshooters," as Oppenheimer calls clients who are able and willing to win or lose as much as 50% on their money in a single year, can go for so-called "feeder contracts." For a down payment...
Unlike machines, of course, cows re produce. After perhaps five years of tax deductions and depreciation and breeding at an Oppenheimer-managed ranch, a herd can easily triple in size...
Safer and more strategically appealing are "breeding" contracts. "This," he says, "is where the tax play is." Taking advantage of laws that encourage the building of bigger and better herds, an Oppenheimer client can buy a 100-head breeding herd for as little...
...structure is really something, especially since a year ago it was really nothing. Fire destroyed the old 1957 building in midseason last year (TIME, Aug. 4, 1967). Against awesome odds, General Director John Crosby rode herd on a double-shift construction schedule through the winter and spring to get the house ready for last month's season opener...