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...cost to the Government of $234,980 per Ib. In 1929 it carried one pound of mail for $115,335. For fiscal 1931 it carried eight pounds of mail for $125,820 per Ib. Its defense was that ocean mail contracts are only a legal pretext for an outright subsidy, that its ships always had cargo space reserved for mail but that the Post Office Department assigned them no more than enough to keep their contract valid...

Author: /time Magazine | Title: TRANSPORTATION: Subsidies Scrutinized | 10/9/1933 | See Source »

Last month Bigelow, vacationing in Minnesota, was drowned when his canoe tipped over. His will, opened last week, left one-third of his $3,000,000 estate outright to Charles Ward. After his funeral directors of the firm met to elect a president to succeed him. They elected Charles Ward...

Author: /time Magazine | Title: Business & Finance: Cellmates | 10/9/1933 | See Source »

...Port Authority loan followed closely on the heels of another grant to New York City for the construction of a three-pronged bridge connecting Manhattan, The Bronx and Queens over Hell Gate. The Public Works Administration was ready to give the city $7,200,000 outright for this triborough span, lend it $37,000,000 more. The Triborough Bridge Authority had yet to sign its Federal loan agreement, arrange for bids on the contract. Estimated employment...

Author: /time Magazine | Title: National Affairs: Public Works | 9/11/1933 | See Source »

...will, longest in British history, bequeaths to employes who have served in his companies 14 years or more a month's salary plus 25 percent; to his widow $750,000 and a tax-free annuity of $150,000; to his adopted daughter, Mrs. Winifred MacPherson, $3,000,000 outright and $3,000,000 in trust;* to his son, Sir John Reeves Ellerman, $3,000,000 outright, $10,000,000 in trust and the residue of the estate. The will urges executors not to seek repayment of loans from persons in need, provides a $50,000 fund for any relatives...

Author: /time Magazine | Title: Milestones, Aug. 28, 1933 | 8/28/1933 | See Source »

...Herald & Examiner had previously asserted that the deficit was really only some $5,000,000, to which the Board had added $2,600,000 in anticipation of a hypothetical decrease in tax revenues. Now Dean Judd charged outright that the Board had deliberately misstated the deficit in order to frighten the public into accepting its cuts. Even if it were trying to wipe out in one year the deficit accumulated since 1929, that, at 1932's end, had been less than $7,000,000. As for 1933's genuine deficit of $1,162,940, that had already been...

Author: /time Magazine | Title: Education: Defrilled Chicago | 7/31/1933 | See Source »

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