Word: tobacco
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Dates: during 1960-1969
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...from recommending that farm subsidies, on which the U.S. is now spending $3.1 billion a year, be cut back, Johnson warned that the removal of price props "would have a catastrophic effect on farm income." He urged that present programs for wheat, feed grains, cotton, tobacco, rice and wool "be extended and improved." He also said that additional programs for other commodities are in the works and that "recommendations will be made as circumstances may require...
...American Tobacco Co.'s querulous George Washington Hill made his company famous with a classic slogan that urged women to "reach for a Lucky instead of a sweet." Whichever way they reach from now on, American Tobacco stands to benefit. Last week the nation's second largest cigarette maker (after R.J. Reynolds) moved to acquire Chicago's Consolidated Foods Corp. Consolidated is a vast (1964 sales: $634 million) packer, distributor and retailer of foods whose sweets range from Sara Lee bakery products to Union Sugar and Shasta beverages...
...American Tobacco has had a keen taste for just such a company. Earlier last week President Robert Barney Walker announced record American sales ($1.2 billion) and earnings ($73 million). Such income swelled an already bulging cash drawer. At the same time, with cigarettes under medical fire and new brands proliferating, the major tobacco companies have been anxiously diversifying. Two weeks ago Reynolds announced that it would spend $100 million to buy Penick & Ford Ltd., Inc., a corn-oil refiner whose products include My-T-Fine desserts, Vermont Maid syrup and Cocomalt. Liggett & Myers last year paid $15 million for Alpo...
...Government receives about $9,000,000 yearly from patent processing, but fees have not been revised since 1932 and now cover only a quarter of Patent Office expenses. Under the President's recommendation, higher rates would add another $15 million. Also requested are higher inspection fees for tobacco, grain, cotton and naval stores (which would produce $7,600,000), for special customs services ($1,000,000), and for maritime port services...
Unlike the Cancer Society, the American Medical Association saw no need for haste. Aided by a hefty grant from the tobacco industry, the A.M.A. announced that it was embarking on a five-year study of the effects of long-continued smoking...