Word: limitations
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Dates: during 1920-1929
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...common stock earned $15 a share. Canadian Pacific has a 1929 high of 267⅞, is thus selling at 17.8 x earnings. U. S. railroads traditionally sell at around ten times earnings, but in Canada there is no Interstate Commerce Commission and no recapture clause to limit a road's earnings on its investment. In addition to its extra-railroad activities, Canadian Pacific has asked the Dominion Parliament for authority to construct 1,200 miles of branch lines and expects to build some 465 miles during the present year. Expansion plans centre around the Saskatchewan district and may result...
Therefore, on May 3, 1926, President Gerardo Machado y Morales of Cuba announced a new and corrective policy. Cuba, largest (22% of total) world producer, would limit its planting. Thus, argued Cubans, would supply be brought down to demand. Thus would prices mount, profits increase...
...tariff, there would appear to be no limit to the willingness or power of the Government to give Cheneys and others the rates they need. But in this respect, silkmen cannot agree among themselves. Not alone did Vice President Horace Cheney represent the Silk Association of America before the House Ways & Means Committee at Washington. A. P. Stapfer was also there. Mr. Cheney suggested rates double those of 1909. But Mr. Stapfer suggested reduced rates on georgettes, crepe de chines, flat crepes. Reason: the Cheney group is exclusively manufacturing; the Stapfer group both manufactures and imports; and yet a third...
...last week steamed away the S. S. Coamo, Porto Rico-bound. Aboard her were eleven men who composed a commission going to Santo Domingo to establish a budget system in that little republic.* Chief Budgetman was Charles Gates Dawes, first U. S. Budget Director (1921-22). To limit expenses, most of the Commissioners paid their own bills. Santo Domingo will be billed only $10,000 for the job, which will require from three to six weeks. No Commissioner took a golf club, fishing tackle or a valet. Work, not play, was ahead of them. Budgetman Dawes, in fine fettle, wore...
Beyond the U. S. coast line lie three bodies of water: 1) from the shore to the 3-mile limit indisputably under U. S. jurisdiction; 2) from the 3-mile to the 12-mile limit, claimed by the U. S. for "search and seizure" under the 1922 Tariff Act and roughly coextensive with the "one hour's sailing" distance granted under the U. S. ship liquor treaty with Great Britain; 3) the high seas beyond...