Word: mazes
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Corporate Maze. The dodge used by many foreigners to acquire U.S. ships was to hire U.S. nationals to form a dummy corporation to bid for the vessels. The foreigners would provide the money indirectly, by putting up the collateral for loans which banks would then make to the dummy. After getting title to the ships, the dummy would then lease them to the foreigners at ridiculously low rates-so little that the dummy would never make enough money to incur U.S. taxes. Instead, all the profits would flow to the foreign operators and the true ownership would still be concealed...
When the dissolution of a Roman Catholic marriage hits the front pages, non-Catholics are often lost in a maze of civil and church legalities. Last week's case in point was the broken union of Sloan and Bill O'Dwyer, and it provided a good capsule course in Catholic marriage...
...maze of U.S. customs laws, grown up haphazardly since George Washington signed the first tariff act in 1789, has compounded trivial annoyances into major headaches for American importers. Last week Congress provided some aspirin by passing a long-needed customs-simplification bill. The new bill will...
...press conference in Washington, Ike Eisenhower stepped nimbly through a maze of questions about everything from German unity (he believes it the key to European peace) to state primaries (he doesn't think he should interfere in them). On the prospects in Korea, he said that no one can foretell exactly how things are going to come out. On the burning question of books overseas: he had asked the Department of State and the International Information Office to work out a program in conformity with his own views; a policy statement would be released later the same...
...properties. Ventures acquired the rich Falconbridge Nickel mines at Sudbury, Ont., Giant Yellowknife (gold) mine, United Keno Hill (lead) mines and a dozen other rich Canadian producers. The 20-odd Lindsley-controlled properties listed on the Toronto Stock Exchange are now valued at more than $236 million. Through a maze of 49 holding companies and operating subsidiaries, Ventures' mining interests have spread far beyond Canada and now are on four continents...