Word: totalizer
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Dates: during 1930-1939
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Just what this broad promise meant became apparent last week as PWA Administrator Harold L. Ickes offered 21 municipalities a total of $9,527,995 to build plants of their own though they are already served by private utilities.* To receive these beneficences, the 21 municipalities, said Mr. Ickes. must "make 'reasonable efforts in good faith' to purchase the facilities with which the applicants would be in competition. . . ." Asked who would be the judge of such efforts, Public Works Administrator Ickes declared: "I don't know anyone better qualified to judge what is fair and reasonable than...
...more years the International Wheat Agreement (drawn up in 1933 to limit wheat production and export), the 25 delegates from 16 nations* did nothing last week except view the outlook with much alarm. Conference experts figured that the world harvest, excluding the Soviet Union, China and Manchukuo, would total 4,205,000,000 bu., 216,000,000 bu. above the all-time record set in 1928. Especially ominous was the prospect for the U. S. Once a major wheat exporter (200,000,000 bu.), the U. S. last year sold only 100,000,000 bu. abroad. This year, unless foreign...
...investment policies of insurance companies. By the Securities Act of 1933, new security issues must be registered with SEC before sale unless the entire issue is to be sold to one buyer. With their huge cash resources, insurance companies habitually buy entire issues. Investment bankers estimate the total of such purchases as high as $1,500,000,000 a year. SEC Chairman William O. Douglas last week commented that this gave "insurance companies a preferred status over other investors." As a part of the current Monopoly Investigation, SEC will study the subject...
...oldest U. S. steel companies and first manufacturer of boiler plate, 128-year-old Lukens Steel Co. is located at Coatesville near the hard coal country of eastern Pennsylvania. With total assets of $16,000,000, it is 14th largest in the industry, specializes in making steel plates for steamships and locomotives, nickel and chrome quality alloys. Last fiscal year, Lukens' net income was $158,218, biggest since 1929. But its operating costs also increased. When Depression II cut production as low as 35% of capacity, the company cut its payroll almost in half, laid...
...receiving end, NBC, CBS, MBS pricked up their radio ears, stayed on the air all night, vied for scoops. CBS estimated total costs for its coverage of the flight between $15,000 and $20,000. NBC made an estimate of $12,000, not including talent costs for sustaining programs between Hughesflashes. MBS did the job for $1,500, playing records during the spare time...