Word: boom
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Dates: during 1930-1939
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Staying There. In London speculative bookings, not only of hotel rooms but of seats from which to view the Coronation Procession, have surged in wild fluctuations and last week continued erratic. Nevertheless London is such a rearmament boom town in 1937 that, even if nobody came to the Coronation-and by lowest estimates 2,100,000 are coming*-the hotels would be overcrowded as they were last spring and summer, the theatres jammed and head waiters (usually Italians in the swankest English places) as cocky as in 1929. Today in London almost no top-class hotel rooms for Coronation time...
...quotations. The last was the seventh boost in two months and left the metal at 15? per lb., more than triple its Depression low. Yet every quota, restriction or curtailment program had been removed from production, and long-closed, high-cost mines were preparing to cash in on the boom. Where was the copper going...
Copper's boom was shaved by other metals, even steel. Operations in the steel industry this week were expected to hit 84% of capacity, and talk was growing that 1937 would turn out to be a record year. Adding $6 per share, U. S. Steel stock closed the week at $114, and Bethlehem at around $95 per share showed a gain of $5. Though U. S. markets were closed for Washington's Birthday at the start of this week, the metal boom, roared on in London. Said one weary British metal broker at the close: "This has been...
While normal world consumption of copper has picked up sharply with general business Recovery, and record armament programs have jumped Europe's consumption near record levels in history, there was apparent by last week still another reason for the copper boom. Vast amounts of the red metal were going into hoarding, either by profiteers or as outright war reserves. Estimates of total copper hoarding in Europe ran as high as 400,000,000 lb., equal to nearly one-fourth the entire U. S. output last year...
...levels, while skilled labor on the average is near the old highs. The rise has actually been greater than apparent because building mechanics in Depression often worked for considerably less than union scales. What the building industry fears is that labor costs will rise so sharply that the promised boom will be gravely retarded...