Word: patterson
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Dates: during 1940-1949
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...Black. Under Secretary of War Robert P. Patterson smoothly answered Bill Jack with a barrage of figures. He pointed out that Jahco had started in 1940 with an original investment of $100,000, boosted this to $354,000 through war profits by the beginning...
...Said Patterson: "The 1942 profit of $8,361,000 (before taxes) was over 23 times what the owners had in the business at the beginning of the year and more than 35c on each dollar of sales. It must be remembered that the company's business is financed principally by the Government." On Patterson's figures, Jahco had approximately $375,000 more profit before taxes and renegotiation than was shown in company figuring...
...Black. The profit & loss dispute depended on who put what in the profit column. Under Secretary Patterson listed as profit $375,000 of the total J. & H. salaries and other items such as $13,000 for turkeys for nonemployes. Bill Jack listed all this as "expenses," although the Internal Revenue Department disallowed them...
...week's end Patterson's selling-in-reverse shot was on its way to the clicking point. Of the first 100,000 subscribers canvassed, 69,596 had responded: 50,173 agreed to stand aside (some 400 of them named a farmer to whom to send the released copy). But 19,423 city-dwelling readers who, unlike Patterson, either operate a farm or hope to some day, stoutly refused to give up Farm Journal and Farmer's Wife...
Publisher Patterson had run up against demand that would have upped circulation by 50.000 a month. He had trimmed the magazine's page-size, thinned its paper, rejected ads worth-$1 million before coming to his "stand-aside" plea to urban readers...