Word: slash
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Dates: during 1950-1959
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...obstacle is that the U.S. has contracted to pay steep royalties to Freeport Sulphur Co. for the ore that the plant uses, is even now battling to renegotiate the contract and slash the royalties. Few companies are willing to bid on the plant until peace is declared and a steady stream of ore is guaranteed at a good price...
...railroads had some equally embarrassing reports for stockholders. The Pennsylvania reported that February produced the line's fourth straight monthly loss, plunging it $11.3 million into the red in the first two months of 1958. Last week the Pennsy turned to a harsh remedy: an "indefinite" 10% pay slash for all employees earning more than $10,000 annually, the first since 1934 except for a brief cut during the 1956 steel strike. Included in the slash, which will still save only about $200,000, is President James Symes, who made $129,808 last year. With carloadings down...
...BILLION TAX CUT is urged by Arthur F. Burns, former chairman of President Eisenhower's Council of Economic Advisers. He contends that an immediate tax slash for all individuals and businesses would be "clearly a sounder method of dealing with a mild recession" than a big public-works program, which would not have any "significant economic effects in the immediate future...
...coldly executed by Senate Leader Lyndon Johnson and "Mister Sam" Rayburn. Its essentials: 1) let the Eisenhower Administration move first on tax cuts; the longer Ike waits, figure Democrats, the more laggard his party will appear; then 2) bump all Republican bets with a whopping Democratic tax slash aimed mostly at relief for middle-and lower-income workers, i.e., most U.S. voters. Meanwhile, the Democratic Express could roar down the tracks with a highballing series of antirecession spending bills-and Republicans could grab onto the caboose as best they could. Items: ¶ The Senate shouted through a Lyndon Johnson resolution...
Despite a hard winter, stocks of heating oil are still far above last year's level; gasoline stocks are at an alltime high. Refiners in Oklahoma and Texas have been forced to cut crude prices, and pressure is building up for a further slash in Oklahoma allowables. Domestic producers blame the situation on heavy imports, but importers are complaining that their quotas under the Government's voluntary-import quota program are not high enough to enable them to operate efficiently. While imports of petroleum and oil products reached a record high of 1,897,500 bbl. at latest...