Word: absorbed
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...used in making arms. What is needed first, they say, is a plant-construction boom in new munitions capacity, to be added to (not to replace) present commercially oriented capacity in durable goods. Such economists fear that to finance gun production by cutting butter consumption will merely redistribute, not absorb, the present horde of unemployed (around 10,000,000 in March). The Treasury would then be in the silly position of having to pay billions of dollars in relief, instead of riding (and collecting fat taxes on) a full employment boom...
Willing as the country was to get itself under arms, there were definite limitations last week to widespread training. Universal service, fully applied, would involve at least 7,000,000 men. With the present physical facilities and officers' corps, the Army can absorb about 50,000 new men a month...
...upset price of some $11,000,000, the Mobile Federal Court ordered the properties of bankrupt Mobile & Ohio (St. Louis to Mobile) sold at foreclosure to G. M. & N., which already had ICC approval to absorb the larger road into a single, 2,007-mile system. First large railroad consolidation since 1934, it puts "Ike" Tigrett at the head of a new railroad named Gulf, Mobile & Ohio, which will start with a $31,870,000 funded debt and annual interest charges of $1,399,920 (about half the two roads' present fixed charges). An additional...
...grueling a week, two ideas were too much for the market to absorb. Soon Hitler seemed to be marching across France. Out of Washington the ticker carried stories of peace before the end of summer. Down went prices again, gaining momentum. The week ended with heavy selling that broke the industrials eight points to 122.43. Export and war-baby stocks were not the only casualties. Fear spread that closing of European markets would depress U. S. income, especially of farmers, that any subsequent national defense boom would develop at the expense of general consumer purchasing power & freedom...
...Swiftly and smoothly underwritten, its provisions are characteristic of A. P. First call on the shares wall go to Bank of America's 145,000 present stockholders, biggest of whom is Transamerica, most of whom are small-money Westerners who admire old A. P. Among them they will absorb more than half the issue. To assure widespread distribution, nobody can buy more than $50,000 worth (without special permission). Heading the syndicate are Ladenburg, Thalmann & Co., John J. Bergen & Co., Ltd. and Cyrus Eaton's Otis & Co. of Cleveland, a widespread-distributionist from way back. Among...