Word: netted
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Individual Incomes. Normal rates were upped to 2% (first $4,000 of net income), 4% (second $4,000) and 7% (all over $8,000). Personal exemptions were reduced to $1.000 for single taxpayers, $2,500 for married. The surtax rate was started with 1% at more than $6,000 net income (instead of at the present $10,500 level) and scaled upward to a maximum of 40% on more than $100,000. The House finally knocked out the 65% maximum surtax on incomes of more than $5,000,000 after the Treasury had convinced it that such a rate would...
...less than 4¢ per share and also applies to stock borrowings. A trader today selling 100 shares of $100 stock pays the U. S. $2, the State $4 and a clearing fee of $1.50? a total of $7.50. The same transaction under the House bill would net the U. S. $25 and run the total charge up to $30.50. Security experts predicted that such a Federal tax would drive the public from the market and stockbrokers into retirement. The day the House adopted (207-to-39) this levy over the vain protests of New York Congressmen, the stockmarket slumped...
...little doubt that his Greenwich venture will succeed. He well remembers his early success in penetrating a residential district. In 1903 he opened a store at Fifth Avenue & 37th Street, next to a Presbyterian church. First year it lost $40,000, second year $28,000. Third year the net profit was $84,000. Success was chiefly due to women's clothes imported from France. Franklin Simon, son of a cigarmaker, had learned the clothing business from Stern Brothers. On buying trips abroad he had been impressed by French styles. Until 1914 he was in partnership with a Frenchman named Herman...
...match well in hand with a lead of 5-2 in the first set. He became rattled by close line decisions and lost the set at 10-8. Mangin's best shot was a backhand return of service which repeatedly aced Shields as he came in to the net. Shields won the second set at 6-2. Mangin won the next two with the steadiest tennis of his career, 6-4, 6-3, for the match and his first U. S. title...
...unprofitable lines and added new routes until it was possible to fly from Montreal to Los Angeles via American Airways. Before he took office Avco had more than 80 subsidiaries (including schools, charter services, factories, sales companies). Before he left there were less than 20. His economies reduced a net operating loss of $2,464,000 for the first nine months of 1930, to $628,000 for the same period last year...