Word: tungsten
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FAST TAX WRITE-OFFS will be cut back still more by the Office of Defense Mobilization, thus slowing the rapid pace of defense-industry expansion. ODM has ended 19 categories of fast write-offs (asbestos, lead, tungsten, etc.) as no longer essential, indefinitely suspended 38 others (commercial aircraft, iron ore, etc.) leaving only 20 (copper, aluminum, atomic energy, etc.) of the original 225 expansion goals still in effect. New cutbacks will either cancel or postpone some 900 applications from U.S. business for $9.3 billion worth of fast write-offs...
Success stories like these set many desert newcomers shooting in all directions, wavering in a single day between buying a laundry and investing in a tungsten mine. Optimistic and energetic in a new land, they dream big dreams to match the big country. Those with capital look for investments and find them: Ontario (Calif.) Aircraft Executive Glenn Odekirk has interests in desert tungsten and uranium; Hollywood Actor John Ireland and Tennis Star Don Budge are building a swank, $298,000 racquet club outside Phoenix. The less well-heeled look for likely sites for gas stations, ice-cream routes...
...wanted to grow with it." One of the phenomena of 1954 was the huge growth of invest ment clubs, whose members put in $10 or $20 a month for group investment. In Denver a group of 27 men and women -ranging from housewives to the owner of a tungsten mine -bought solid stocks including such blue chips as Union Carbide (up 12 points, to 86) and Consolidated Edison (up 5 points, to 46). In eleven months they made $1,500, or 12% on their in vestment...
...showered more and more loans on U.S. Tin, the market value of company stock soared. From stock sales, the three founders pocketed at least $175,000, at least $85,000 of it Fischnaller's. Since the first loan. U.S. Tin has produced $283,519 worth of tin and tungsten, less than 10% of the Government investment. GSA men are hoping to salvage the operation, and speak optimistically about current production rates. But the clear conclusion is that the U.S. has lost a lot of money at Lost River...
...Quota goods-items on which shipments must stop after a certain export level is reached-were reduced from 90 to 20 (to which number the strategic items previously banned altogether will be added). Examples of items released from quota: welding equipment, tungsten...