Word: lowerings
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Dates: during 1930-1939
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...Present basic individual income tax rate (highest in the world) is 5 ½ shillings on the pound (in the U. S. that would be 371 cents on the dollar) for incomes above $625 a year. That rate will remain, but to make conscription of manpower more palatable to the lower classes, the Government also made a gesture of conscripting wealth. Surtaxes on incomes from $10,000 to $40,000 were raised 5%, on those above $40,000, 10%. Sample taxes: on a childless married man's income...
...cylinders ar ranged in four banks like a double-V. Supercharged and built for streamlining into wings and fuselages, it develops 2,400 h.p., weighs less than a pound per horse power. Its constant-speed propeller, largest ever built in the U. S., is geared to revolve at lower speed than the engine (because propellers lose efficiency at high speeds). Probable use of the new powerplant: to propel bombers faster than bombers have ever been driven before...
...most powerful U. S. air-cooled engine (Wright's efficient 1,600-h.p. Cyclone) weighs 1.187 Ibs. per h.p. Bigger engines now testing will have lower specific weight, may better Allison's figure...
Steel. Far from gay, however, was the tory of U. S. Steel Corp. Big Steel has run at lower percent of capacity than the independents, has faced bitter price competition in the profitable (to others) Detroit steel market, has had much of its capacity in Pittsburgh and Chicago idle because of stagnant demand for capital goods. Last quarter it made only 18? a share on its preferred stock, grimly paid holders the $1.75 coming to them: the difference, $5,644,368 (nearly half the size of Chrysler's profit for the quarter), came out of a generation of accumulated...
Submarine Canyons. Modern methods of exploring the ocean bottom by echo-sounding have disclosed several huge undersea canyons. One of these submerged gorges, lying off the Hudson River's mouth, is 130 miles long and its lower end lies under 7,500 ft. of Atlantic Ocean. One theory has it that submarine canyons were cut during the Glacial Age by surface rivers. This could have occurred only if the sea level was then nearly two miles lower than it is now - a presumption difficult to account for, even allowing for water drawn into the great Glacial Age ice sheets...