Word: steep
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Snugly sheltered by steep hills on three sides and the lake on the fourth, Georgeville looks to the future casually and without excitement. Much of the village youth seems to be leaving, jobs are scarce, and the rocky, wooded land is producing just about the same meagre wealth as it always has. The outlook seems now just about the same as it was in 1941, when some city folk bought "Dun's Law" for $1,100. They're not city folk, really, anymore, and prices have risen some, but all else seems just about the same...
...handle truck-company trailers as well as their own, provide such economical service that more and more highway companies are putting . their trailers on flatcars for trips of 500 miles or more. Drivers' wages (as high as $175 a week), highway taxes and equipment costs are so steep that some truckers are thus able to snip as much as 9? per mile from their 30?-per-mile highway costs. By going piggyback, says the Rail-Trailer Co., which solicits business for the railroads, one New York-Chicago trucker was able to chop his trip costs so much that...
...intricate tax case dates back to 1942, when Eaton set out to finance a new iron mine under Steep Rock Lake in western Ontario (TIME, Nov. 16, 1942. et seq.). Eaton raised $2,250,000 from U.S. investors, got the RFC to lend Steep Rock another $5,000,000, and got agreements from the Canadian and Ontario governments that would exempt Steep Rock from paying taxes until iron was produced...
...return, Eaton's new company, Consolidated Premium, got 1,437,000 shares of Steep Rock stock for a penny apiece when the stock averaged $1.67 on the Toronto Exchange. After Steep Rock got into production, it paid its investors (including Consolidated) handsomely, last year netted more than...
...with Steep Rock, Canada waived corporate income taxes on Consolidated Premium for the first three years. Since 1945, Consolidated has paid Canadian taxes, but none to the U.S. Now the U.S. contends that Consolidated ran its offices in Cleveland until 1950, therefore, owes $300,000 in U.S. taxes from 1944 to 1949. In addition, the U.S. wants more than $1,500,000 from Eaton, and more than $388,000 from Daley in back personal income taxes for 1943, the year of the stock transfer...