Word: write-off
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...first quarter of 1953, even bigger spending is expected, and there is every indication that the full year total will be higher than 1952. The quick write-off pro gram set off so much new construction that many businessmen think Eisenhower should make it a permanent policy to keep the U.S. improving its efficiency...
Depletion Allowance. In Washington, D.C., Marjabelle Young, on behalf of 25 models, wrote the Internal Revenue Bureau that, in time, "we will lose the value of our appeal" and urged a tax write-off for "exhaustion and wear and tear, including a reasonable allowance for obsolescence...
...American Airlines last week went a fast tax write-off certificate for a big new expansion program. American plans to spend $47 million for 25 Douglas DC-7s (bigger and faster than DC-6s), hopes to start flying them on its routes late next year. The DC-7s, said American, will be the last piston-engine transports it will buy. After them, the airline hopes to get into the jet age (see below...
...Government also agrees that Glasco's pipeline is a big thing. It gave him a fast tax write-off on 25% of the line's construction cost and priorities for 214,000 tons of steel. These terms made the whole deal look so good that last week two Manhattan financial houses, Union Securities Corp. and White, Weld & Co., agreed to manage the underwriting of the entire $87 million. To build the pipeline, Glasco had lined up Burt Hull, builder of both the Big and the Little Inch and the 1,068-mi.-long line across the desert...
...pipeline carrying refined petroleum products (gasoline, kerosene, heating oil, etc.) all the way from Texas Gulf refineries to the vast markets on the East Coast (see map). The Government considered the project so urgent to defense that it granted Ryan and his U.S. Pipe Line Co. a fast tax write-off on 25% of the construction cost, and gave him priorities for 211,000 tons of steel-equal to 16 hours output by the entire U.S. steel industry...