Word: jamison
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Dates: during 1962-1962
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Says Inland Steel Chairman Joseph Block: "Everything has some labor content in it." And the notion that depreciation write-offs are even a partial substitute for profits leaves many a businessman cold. Says Conrad Jamison, vice president of Los Angeles' Security First National Bank: "Sure, you can put depreciation money into securities or pay it out in dividends. But sooner or later, you're going to have to replace that worn-out machinery, and it's almost a certainty you will have to pay more for the replacement than you did for the original. When you treat...