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Word: icc (lookup in dictionary) (lookup stats)
Dates: during 1940-1949
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Usage:

...trips to Washington, letters to big and little RFC shots, visits and letters to Ohio Congressmen. He got out a mimeographed letter, Hickory News, whose main purpose was to give bureaucracy hell. In one issue he referred to RFC 'as "Railroad's Fat Cat" and to ICC (which he also dislikes) as "Iscariot's Carnal Cat's-paw." Every time RFC turned him down on a new application (total to date: six) his mimeograph whirled faster and hotter. Last year he decided to switch to making smelter linings, hired a ceramics engineer to take charge...

Author: /time Magazine | Title: GOVERNMENT: RFC's Cross | 3/3/1941 | See Source »

...upped that figure to $5,160,168 (by saving $4,060,000 in operating expenses at a cost of less than $1,000,000 in administration and higher taxes). Transport also believed it could have cut schedules by six to 36 hours, improved service all around. Two months ago ICC gave its unanimous verdict...

Author: /time Magazine | Title: Experiment in Trucks | 1/13/1941 | See Source »

Last week ICC published its reasons. Most of the commissioners questioned Transport's ability to effect as many economies as it claimed, worried also about the effect on competition. But sharpest and perhaps decisive criticism was on the proposed financing. Transport planned to pay $22.543,657 for its 48 units; ICC found that the companies had only $10,617,958 in tangible assets. Moreover, out of capital of $24,751,824 which Transport wanted to raise by selling stock, a whopping $3,424,-964 would have gone as profit to the organizers, promoters and bankers (presuming the success...

Author: /time Magazine | Title: Experiment in Trucks | 1/13/1941 | See Source »

...ICC which had watched the railroads writhing under overcapitalization, this sort of financing looked all too familiar. Wrote Chairman Joseph B. Eastman: "It seems to be a case where ... the vendors, the promoters and the bankers will all be liberally compensated . . . and the investing public will be left holding most...

Author: /time Magazine | Title: Experiment in Trucks | 1/13/1941 | See Source »

...fingers slapped, was out of the Transport picture. But about ten of the companies (with a net worth of around $7,500,000) were considering merger through a simple interchange of stock. After reading Eastman's opinion, they (and President Seymour) had good reason to hope for ICC approval...

Author: /time Magazine | Title: Experiment in Trucks | 1/13/1941 | See Source »

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