Word: timber
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Through the Finland Association, Finland will be just that: a qualified member. Though timber products-Finland's biggest export-will be free to compete on an equal footing, Finland will not reduce tariffs as swiftly as the other EFTA countries on a range of Finnish specialties: varnishes, polishes, small electric motors, sauna whisks and birch twigs. To satisfy Russia, Finland will keep import quotas on those goods that Russia chiefly supplies, e.g., fuels and fertilizer. But as one former Finnish ambassador to Washington explains: "You cannot understand what EFTA means to us-it is our first formal link...
...belts, swords, guns, cartridge boxes, and many other things, were different. As many as ten different saddles were in use, and of the many army homes-tents-there were a great variety." Artists' sketches were often scrawled with advice to the engraver ("N.B. Put as much fallen timber and dead limbs between the figures...
...South Africans could hardly do otherwise. In the last 13 years Engelhard has elbowed his way into control of a vast gold-mining, timber and industrial empire, owns four companies, is chairman of five and a director of six others. Firmly on the inside of an investment preserve once dominated by British companies, he is holding open the door for more Americans to come in. To that end, plans call for listing the shares of the new investment company on the New York Stock Exchange...
Earlier this year Shanks learned the hard way the limits on the personal actions of the man who publicly presides over the second-largest U.S. life insurance company (first: Metropolitan Life Insurance Co.). He made a personal deal with Georgia-Pacific Corp., a big Prudential borrower, to buy timber, then let a Georgia-Pacific subsidiary cut enough of it over five years to pay back the money Shanks had borrowed to buy the trees. With tax write-offs, capital gains and depletion allowances on his holdings, Shanks stood to make as much as $485,000 in savings on his income...
...winding trail over which common folk move on foot, the more prosperous on donkey back. Last week, sweating under the tropical sun, 200 half-naked men and boys from Santo Nino were hacking out a broad, five-mile highway to take out the village's production of timber, copra and rice, and in return bring in the 20th century...