Word: stocked
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Dates: during 1940-1949
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...showed better sense than Harry Truman in his requests, and sometimes it saved him later embarrassment. When he asked for an anti-inflation program (including wage & price controls, Government authority to build steel plants) at a time when deflation was obviously in progress, Congress brusquely threw it overboard, lock, stock & barrel. His demand for $4 billion in new taxes was similarly ignored; so was his request for $800 million for universal military training...
...five grandchildren,* sold the empire's last oil-producing property. The holdings have oil reserves in the U.S. and Canada of at least 48 million barrels. The buyer: Union Oil Co. of California. The price: $22.4 million plus 600,000 shares (current value: $15 million) of Union Oil stock...
...otherwise fertile surrounding plains were brown scorched dust. Necessary raw materials, except in the relatively prosperous Barcelona section, are virtually non-existent, partly because of Spain's low productivity, and partly because of few favorable trade agreements; mechanical equipment such as tractors is for the far-distant future. Railroad stock, built before the 1936 Civil War, is worn out: trains are the slowest, dirtiest, most uncomfortable in Europe...
...Jesse Jones, "knows more about banks than any man in the U.S." He also knows a lot about what goes on in Washington. FRB is backing a bill in Congress which would give the board greater regulatory powers over bank holding companies that control more than 15% of the stock of an operating bank. Once Transamerica's holdings in Bank of America are reduced to 11.1%, it could argue that FRB should not be concerned with Transamerica even though the 11.1% might still be working control...
Nevertheless, FRB indicated last week that it wanted more concessions from Transamerica and was not yet ready to drop its case. But Transamerica was hopeful. As one official cautiously put it: "If [the stock sale] results in the board doing anything, we can't imagine it would be adverse to our interests...