Word: paid
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Dates: during 1930-1939
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Since the nomination was such a pushover, U. S. interest centred on the proposed platform. The convention drafted a plan to nationalize the oil industry completely within the next six years. If the plan is endorsed, all petroleum holdings will be seized, and compensation paid only "in the event that it should be absolutely indispensable," and only if it is proved that the original concession was not fraudulently obtained. Land expropriation will also be continued as vigorously as possible...
From 1909 to 1931 the common stock of Central Railroad Co. of New Jersey never paid less than $10 annually. Bluest of blue chips, the rich, little (1,155 miles) anthracite road had skipped only eleven dividends since it began operations in 1848. For 25 years (1905-30) the stock seldom sold below 200. In 1912 it hit a peak of 395; in 1928 another of 375. Last week it could be bought for 5. Sic transit...
...State of New Jersey the railroad owed $11,651,000 of taxes unpaid since 1932. That was 40% of its tax bill for that period. It had paid the rest. Month ago the State threatened to go to court to collect its bill for 1932-1933 ($7,230,000 of taxes, penalties & interest). With only $2,360,000 cash on hand to meet the tax bill, Jersey Central escaped to the courts...
...Chilean ore-at Sparrows Point, Md. Bethlehem Steel takes ores in from Cruz Grande, Chile (4,265 miles away) at a freight cost of $2.50 to $3.00 per ton, plus Panama Canal tolls of $7.20; since no toll need be paid on Chilean ore laid down in Portland (5,739 miles from Cruz Grande), it should be cheaper there...
...pulling the teeth of gift horses (see p. 73). One victim was opulent Standard Oil Co. of New Jersey (assets: $2,044,635,000). Hit with a $300,000,000 assessment on its intangible property by Newark in 1935, the company got it reduced to $50,000,000, paid a $2,000,000 personal property tax, promptly moved its books and records to Linden. There town fathers slapped on a $75,000,000 "omitted assessment." Standard paid a $1,000,000 tax and began looking for still another home...