Word: lumbers
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Dates: during 1960-1969
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...weather the wintry discontent of U.S. justice. He seemed to be charged with everything except starting the Korean war: 15 federal fraud charges of, among other things, making a false SEC report and misappropriating $1,953,000 of the funds of the E. L. Bruce Co., Inc., the lumber milling giant that he had bossed before fleeing last June; twelve New York State charges of grand larceny; a U.S. tax lien amounting to $3,500,000. The erstwhile timber wolf of Wall Street faced up to 194 years in jail. Why then had he returned from extradition-free Brazil...
Gains were general in industries ranging from brewing, cosmetics and food processing to lumber, gypsum and aerospace. Standard Brands' earnings rose from $4.6 million to $5.1 million and Procter & Gamble's from $333 million to $35.1 million. In the long-sputtering transportation business, a 3% fare rise helped lift the profits of United...
...protect the uneconomic U.S. merchant marine from low-wage foreign competition. Among other things, the Jones Act requires that all shipping between U.S. ports must move in high-cost U.S. vessels. This means that Pacific Northwest lumbermen must pay $36 per 1,000 board feet to ship green lumber to East Coast ports in U.S. vessels, while Canadian lumbermen pay as little as $26 on foreign-flag freighters. Canadian lumber, which is often of better quality than Pacific Northwest lumber, thus consistently undersells it. And to compound the injury, the regulations have hurt rather than helped the U.S. merchant fleet...
Desperate for relief, Northwest lumbermen have been pressuring Washington to exclude lumber shipments from the Jones Act, to put quotas on imports of Canadian lumber, and to raise lumber tariffs to the legal maximum of 8%. With the issue pressed by Democratic Congressmen from Washington and Oregon, President Kennedy has pushed through Congress a bill appropriating $165 million for construction of roads into the Pacific North west woods to cut the cost of hauling out logs. But when he tried to amend the Jones Act, the President ran head-on into opposition from maritime interests and from Southern Congressmen...
...Tariff Commission is currently studying the arguments for lumber quotas and tariff increases. And last week U.S. negotiators sat down with Canadian officials in Ottawa to try to persuade them to put voluntary quotas on lumber exports. But the Canadians-who already run a $1.2 billion trade deficit with the U.S.-see no reason to increase...