Monday, Mar. 07, 1960
PROFIT PROSPECTS are better for second quarter this year than they were in same period a year ago, according to a survey of 1,500 businessmen by Dun & Bradstreet. Fifty-three percent of those queried said earnings will be higher; 70% expect sales to increase over last year.
TRADE WITH REDS is climbing fast, hit an eight-year high of $30.5 million in 1959's fourth quarter.
COMPUTER CENTERS for small businessmen will be set up on a nationwide basis by National Cash Register Co. Operating much like the big photo labs that develop film for amateurs, the centers will process daily records for small retailers, industrial and commercial firms, return complete analyses within 24 hours. First three centers will open in Manhattan, Los Angeles, Dayton.
WITHHOLDING TAXES on stock dividends will finally pass Congress this session, if Senate Finance Committee Chairman Harry Byrd has his way. Byrd is concerned over official estimates that some $1.5 billion annually of dividend income goes unreported (tax loss to the U.S.: $400 million), has ordered committee staff to draft a tax amendment. House is traditionally in favor, has twice before passed withholding taxes.
CAPITAL AIRLINES, having trouble breaking into a jet-age profit (1959 loss: more than $1,000,000), will have its corporate face lifted to present a more attractive appearance to travelers. Capital will dump its "garish red" color scheme in favor of a "soothing blue," will retire its flying eagle trademark for a new oval.
FREE TRADE ZONE will be established in Puerto Rico. To be located in port city of Mayagueez, zone will permit U.S. and foreign businessmen to manufacture goods from imported raw materials in Puerto Rico, ship finished products to U.S. markets with duty only on raw materials.
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