Word: stocked
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Dates: during 1940-1949
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...Hawkingses have no sure water supply, but the electricity was still on last week, and they have an ample stock of food and four bathtubs 'filled with water before the regular supply failed (plus the lily pond when these give out). During the long evenings Mr. and Mrs. Hawkings play Russian bank for pennies and halfpennies. "We call ourselves the last outpost of Empire out here," Mrs. Hawkings said. "I don't think we British ought to quit anywhere. It's a matter of prestige...
...major change that the State made when it converted the old El into the MTA in 1947, was to buy up the old corporation's stock. Since 1918, the dividends on this stock had been paid on the gross profits before any of the surplus had been plowed back into improvements for the transit system; thus, the stock was for private investors highly profitable and secure. Inasmuch as a politically appointed board of trustees ran the company, these stocks became during the Curley regime a form of party patronge. So the State elimination of these dividends cut out a large...
...year, the transit deficit was $9,000,000--an increase of $4,000,000 over the previous year's loss; and this month, the deficit is increasing at the rate of $40 per minute. In the reorganization, the State disregarded many other financial and organizational disabilities besides the stock issue that the company had incurred in its twenty years of corrupt management...
...reorganization itself brought new financial burdens. Though the millstone of gross profit dividends was removed from the public neck, it was done so very extravagantly. The State bought up the old El stocks at $85 per share when the market value of the stock averaged $57.50 and, in twenty years, had not exceeded $73. In reorganization, too, the public ownership clause exempted the new company from participation in the Federal Social Security Act benefits. The MTA had to set up its own pension system at an annual cost of $1,400,000. To add to the staggering totals, the outgoing...
...result of the inadequate reorganization was not only the enormous deficit but also the complete deterioration of the MTA's rolling stock; 80 per cent of the equipment is over ten years obsolete. The best innovations that the MTA can afford are the slovenly changes in those select trains on the Cambridge-Dorchester line...