Word: wringer
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...through the roof. Many a farmer is still in hock because he forgot then that what goes up, etc. On the awful 1921-35 toboggan the average value of a U.S. farm nosedived from $10,284 to $4,825; some 85,000 farmers hit bottom and went through the wringer in the '30s. But this time there are indications that the U.S. farmer does not yet need to be reminded of those doleful years. Most hopeful contrasts between now & then...
...companies' labor turnover to such an extent that Congress' solicitude for their 65,000 employes will not be nearly so costly as it sounds. And if & when the FCC approves a specific merger plan, the end should more than justify the means. Postal, which went through the wringer only two years ago, is again loaded with debt-this time $9,000,000 of RFC notes-and lost over $4,000,000 last year. Western Union, with some 80% of the U.S. telegraph business, turned in a good profit...
...committee last week also agreed that carriers which go through the wringer should still be allowed to figure their excess-profits tax base on their old capitalization. Chicago & Northwestern, Missouri Pacific, Florida East Coast, New Haven, many other roads are still hiding in the courts; under the present law their taxes would be many times higher the minute they come out. Last week's tax-law change would do more to speed railroad reorganization than anything since Section 77 of the National Bankruptcy Act became...
...Indian who discovered the mine back in 1826 got $1.50 and a pouch of tobacco for his pains. The State of New York got 10? an acre for the land. Even so, for 116 years it was a bad investment. The mine went through the wringer many times, closed down in 1914. One trouble was the cost of getting rid of the titanium in the ore, for nobody wanted titanium then...
...Kellogg, Iowa, the Midwest Metal Stamping Co. makes One Minute Washers. Said one of its officers last week: "Today you lose the agitator, tomorrow the drain spout, the next day the wringer heads." His washing-machine production this year will be 6,000, half of last year's; next year he expects it will probably be nothing. Of the rest of his business-stampings for light sockets, etc.-½ of 1% is now for defense. He thinks that could be increased. Meanwhile, he has laid off 100 of his 300 employes...