Word: paid
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Dates: during 1940-1949
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Under the now-defunct plan, students paid $280 to cross the Atlantic. Next summer, it is estimated the least expensive accommodations--tourist-class berths on luxury liners--will be about...
...Royal Little had set up six such trusts. Part of their tax-free income, which had totaled nearly $10 million, had been used to finance Textron's expansion. The trusts had paid out very little to their beneficiaries. Example: the Rhode Island Charities Trust had taken in $4,500,000, paid out $85,000 to its beneficiary (the Providence Community Chest). But it had paid out $140,000 to its trustees and banker...
...trusts had milked other cor porations, by buying up control and paying out huge dividends. Example: in July 1948, Textron's "Sixty Trust" bought up the stock of the Cleveland Pneumatic Tool Co. for $6,825,000, then paid itself $4,500,000 in dividends...
...take out assets, replace them with others of less value. Example: Rayon Foundation Trust let Textron take $200,000 worth of stock, paying 10% dividends, replace it with stock paying 5% or less. The trustees also sold stock to friends and associates, at less than the trust had paid for them...
...week, its annual report showed why it had no choice. Though its sales had increased 24% to $341,500,000, its 1948 profit, before taxes, had risen only 2%. And after taxes, the profit of $10 million was little more than half that of 1947, when no taxes were paid. In effect, K-F could not afford to cut prices because it was making less than...