Word: net
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Dates: during 1940-1949
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...once they put a hand to net-outlet relations, FCC threatened the whole delicate basis of present chain broadcasting. Last year the two big networks sold $68,000,000 worth of commercial time; local stations got 28% of that sum as their share. In addition the networks spent nine millions on such worthy sustaining programs as Columbia's School of the Air, NBC's Symphony Orchestra, which they supplied to their members. If local outlets no longer can be made to promise cooperation, this whole intricate system of paid and unpaid programs may well break down. In that...
...sale or charter of old vessels at scarcity prices, they were in black ink for fair. American Export (which increased its tonnage of freight carried from 522,482 in 1938 to 933,952 last year, its miles traveled from 1,042,590 to 1,392,391), boosted its net income for the nine months ended last September to $5,895,000 from $216,631 in the 1939 period. Other typical 1940 earnings reports: Moore-McCormack, $5,274,911 against $354,416 in 1939; American-Hawaiian, a $3,431,169 profit against $992,524 in 1939. Shipping shares have enjoyed...
...addition regular corporate income taxes were to be upped from 24% to 30% by a new surtax. Base of the excess-profits tax (which takes up to 50% of a corporation's remaining income) was broadened. The net effect of all these income taxes would be virtually to suspend the profit motive for the duration (see p. 77). And gift and estate taxes would be broadened and boosted...
...earnings of $500,000 or more above the exemption are already subject to a 50% excess-profits tax after paying the maximum 24% regular corporation levy may be taxed still more heavily next year, any decline in earnings would lower tax payments 62? for every $1 cut in net profit...
Clarifying this point the Wall Street Journal estimated that the net cost of the wage rise this year to U.S. Steel (gross cost: $62,000,000) would be only $23,560,000 after allowing for tax savings; to Bethlehem (gross cost: $18,000,000), $6,840,000; to Republic (gross cost: $10,000,000), $3,800,000. Proof of how steel earnings are mounting under present capacity operations, and how big a slice the excess-profits tax is taking, was contained in Republic's first-quarter report. It showed a net profit of $8,189,967 (highest in history...