Word: slashe
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...these smoldering grudges, the U.S. recession has added new coals. Peru, for example, fears Congress' threat to raise lead and zinc tariffs, which would throw 35,000 Peruvian miners out of jobs and slash the country's dollar supply. The Communists, exploiting the anti-U.S. opening, have raised the membership of their illegal party to more than...
...time is not ripe for a tax cut, said the council's antirecession committee, headed by Theodore V. Houser, chairman of Sears, Roebuck; but a cut may be needed if the economy continues to decline. In that case, the group favored an across-the-board slash in personal income tax rates; it did not go on record about corporate or excise taxes...
...sprinkling a few dollars per taxpayer over the economy," considered a tax cut only a surface palliative for deeper economic ills. If a tax cut is inevitable, said the committee, it should be framed as a long-range reform of the entire tax structure instead of just a slash to spur business. This "would not end the recession tomorrow," but could have "highly desirable results" in the long...
...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...