Word: auto
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Dates: during 1930-1939
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...cost savings on continuous mill production at $6 to $8 per ton of sheet and strip, added that Steel's hard-boiled Detroit customers have now chiseled every last cent of this profit out of the steel price, admitted that the sale of the balance of 1939 auto steel going at May's cut prices (TIME, May 22) was more a pious hope than the gloomy admission it sounded like...
Last week, wheat sold at Liverpool for less than at any time on record, July corn sold at Chicago for less than at any time in six years, October cotton was quoted at New York for 1½? less than the week before. The auto industry was in its summer stagnation period. And out from under U. S. business was knocked 1939's firmest prop: building's spurt to new monthly highs. The Annalist reported that building-earlier in the year up some 70% from the 1938 low (adjusted seasonally), and almost 25% from the 1937 high...
...extra-seasonal July 4 drop, the steel rate snapped back first to 56.4% of capacity, then to 60%, its 1939 high, and the trade predicted 65% operations yet to come. This continued a June trend: ingots were still being stacked up in anticipation of rush orders from the auto industry late in the summer. After Labor Day it may turn out, however, that Detroit's fall steel needs are being filled...
Colorado's Supreme Court decided in May that the privately owned retail outlets of Gamble-Skogmo, Inc. (auto parts) were not a "voluntary" chain of stores and therefore fair game for the State's chain-store tax. Right then U. S. motormakers began to anticipate trouble. Last week to General Motors, Colorado sent a bill for $234,655; to Ford went one for $102,470; to Chrysler, Hudson, Studebaker, Nash and Packard went others totaling $193,995. Grand total: $531,120, billed to the seven motormakers for four years' chain-store license fees...
...Auto manufacturers saw more trouble ahead: 19 other States with chain-store taxes may take the cue from Colorado and submit their own bills for license fees. If such taxes can be made to stick they will play hob with the entire system of automobile distribution, not to mention other articles similarly merchandised...