Word: third
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Dates: during 1930-1939
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...Third Basket: Closely-held corporations earning more than $50,000 would be subject to an additional surtax. By elaborate definition a corporation would be "closely held" if a family owned 50% of its stock or two unrelated persons owned 53%, three persons owned 56%, and so on up to ten persons owning 75%. The surtax would apply only if a closely-held corporation failed to distribute less than 60% of its profits. And while the rate would be 20%, the surtax would be figured on a different base with a number of heavy credits. In most cases the surtax...
Another modification applying to the second and third baskets would be that one year's operating loss might be carried over to the next year but only as a credit against the 4% profits tax-a concession to the argument that the present law prevents companies from rebuilding surpluses after lean years...
...three o'clock one afternoon last week the small, highceilinged, brown-paneled U. S. District courtroom on the third floor of Chattanooga's new Federal building was so crowded that even the jury box had filled with spectators. At 3:05 a door opened behind the bench. Out strode the black-robed members of the first of the new three-judge Federal tribunals authorized under the Federal Court Reform Act of 1937 to hear cases involving the constitutionality of an act of Congress. Serious, bespectacled Judge Florence Allen of the Circuit Court of Appeals came first.* Stocky, white...
Meanwhile, for the third time bitter fighting was under way at Teruel. Generalissimo Franco, having decided that to recapture that city was a better psychological move than starting another offensive, laid down the heaviest artillery barrage the war has yet seen. Wave after wave of his infantry followed, finally captured El Muleton, the second of Teruel's four strategic heights to be regained by the Rightists. Sticking grimly to their lines, Leftist officers admitted that if El Caudillo had sufficient reserves, Teruel might fall to the Rightists again, pointed out that this would leave Franco just where...
Modelled on the Yale-Harvard-Princeton Conference on Public Affairs, now in its third year, plans have been promulgated for a similar conference with Pennsylvania, Dartmouth and Cornell participating...