Magazine content is available exclusively for TIME subscribers.Business: Business, Aug. 19, 1957
SLUM-CLEARANCE BATTLE for funds has been won by U.S. Housing Chief Albert M. Cole and U.S. mayors, who got $250 million allotment from Administration for fiscal 1958 despite Treasury-Budget Bureau drive to pare sum. Of 264 communities that will receive federal aid, top amounts will go to New York ($25 million), Washington, D.C., Chicago, Philadelphia, Detroit, Cincinnati, St. Louis.
FAST TAX WRITE-OFFS will dry up soon. Senate Finance Committee approved measure to end write-offs altogether by Dec. 31, 1959, and to limit them until then to radically new or specialized production or research...
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