Business: Brimstone Taxes

"During 1936 your company was confronted with a serious obstacle in the form of increased severance taxes in both Louisiana and Texas," wrote Freeport Sulphur Co.'s young President Langbourne M. Williams Jr. in his report to stockholders last week. Those two States account for 99% of all sulphur mined in the U. S.. and nearly all of it is produced by two companies, Texas Gulf Sulphur and President Williams' Freeport. Both companies are making money in spite of the fact that Louisiana upped the sulphur tax from 27¢ per ton to 60¢ in 1934,...

Want the full story?

Subscribe Now


Get TIME the way you want it

  • One Week Digital Pass — $4.99
  • Monthly Pay-As-You-Go DIGITAL ACCESS$2.99
  • One Year ALL ACCESSJust $30!   Best Deal!
    Print Magazine + Digital Edition + Subscriber-only Content on

Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!