Word: armour
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...that happy event is years distant, at best. Last week, Chicago's Armour Laboratories, the world's main source of ACTH (adrenocorticotropic hormone), gave the reasons...
...takes 1,360 of them to make a pound, from which about 1½ grams (a third of a teaspoonful) of ACTH can be extracted in a solution and separated as a fluffy, white powder. The process is remarkably simple. But even with the cooperation of non-Armour stockyards, the Armour Laboratories can get so far only about 125,000 hog pituitaries a week-enough to make five ounces of ACTH. All the hogs slaughtered in the U.S. would not yield much more than a pound a week...
Back Talk. Armour & Co.'s Chairman George A. Eastwood had an answer to the Government's charge in an antitrust suit (TIME, Sept. 27) that meat packers had conspired to keep prices high, and thereby assure high profits. Because of the ten week packinghouse workers' strike and the upsurge in livestock prices last spring, Armour & Co. will wind up the year with a $2,000,000 loss on close to $2 billion in sales...
...Three Little Pigs, had plastered the Disney label on $10 million worth of manufactured goods. After Snow White and the Seven Dwarfs (1938) the business became a landslide. The roster of licensees grew to resemble a bluebook of U.S. big business (it includes Standard Oil, Du Pont, General Mills, Armour meats, Life Savers). In Manhattan, Gimbels sold 2,000 pairs of Mickey Mouse sandals in one day; in Chicago, Marshall Field recently had a $10,000 day on $3 sweaters offering a choice of Mickey Mouse, Donald Duck or Pluto...
Despite booming meat sales, the packers' profits have been less than those of other food processors. After paying its first common dividend in ten years in the first quarter of the year, Armour decided not to pay a dividend this summer. Said Armour's Board Chairman George A. Eastwood: "Our earnings on meat last year were at the rate of about one-fifth of a cent a pound. Obviously a profit of one-fifth cent cannot be responsible for the increase which has taken place in meat prices since before the war." Nevertheless, the suit helped drive packing...