Word: nets
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Dates: during 1940-1949
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...over Iranian territory. Spit most staggering to the Lion was his sudden cancellation in 1932 of the old William Knox D'Arcy contract which had now burgeoned into the monster British Government-subsidized Anglo-Persian (later Anglo-Iranian) Oil Co. Iran was getting 16% of the net profits. The Shah wanted 21%. The British took the squabble before the League of Nations. The Shah got what he wanted; the British 30 more years on their concession. Things were great. He began hiring German technicians to work his railroads, install his industrial plants and operate them. He detested Communism...
What infuriated Arnstein most of all is Burma's 1% ad valorem tax on all merchandise in transit, a levy which would net the British possession's Government $1,000,000 on U.S. shipments to China...
...planemaker Curtiss-Wright (pursuit ships, Wright Whirlwind motors) keeps its taxes a deep secret, but apparently took the middle road. The result: first-half shipments were up 200% to $142,273,000; net...
...United Aircraft increased its first-half gross 210% over 1940 to a record $121,830,000; net-before-taxes to $25,883,000, also a record. Then it whacked off 80% of this for Federal taxes, thus cut net to $5,583,000 v. $6,228,000 in the first half of 1940 (when taxes were computed at 22%). Under existing or proposed tax law, the 1941 write-off looked as if it discounted the moon...
...Douglas Aircraft (bombers, transports) went easier on itself, set aside 30% of net for taxes. So first-half profits rose from $3,389,000 to $4,200,000, highest ever...