Time Clock, Oct. 17, 1955

EXCISE TAXES on tobacco, liquor gasoline, etc. will continue after the April 1 expiration date if the Treasury Department has its way. Assistant to the Treasury Secretary Dan Throop Smith told a House Ways and Means subcommittee that the Treasury would be "much concerned" about any changes in tax rates or methods of payment that would reduce Government revenues.

FORD PROFITS in 1955 will be the highest in history, predicts President Henry Ford II. Though privately owned Ford never releases financial data, earnings will be well above 1954's estimated $200 million. One reason,...

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 TIME.com

Learn more about the benefits of being a TIME subscriber

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