Word: boomingly
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Dates: during 1950-1959
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Petrofina did not move into Canada until 1950, after Alberta's oil boom was well under way. Since then the company has spent millions to build refineries and filling stations, and to buy up Alberta oil lands. Western Leaseholds is one of Alberta's soundest companies, with 160 producing wells and drilling rights on some 2,400,000 acres of oil land. The deal was fabulously profitable for Lawyer Harvie. More than 20 years ago, a bankrupt client gave him the then-worthless rights to the best part of the land in payment of a legal fee. Harvie...
Paris, Anyone? But in this bright picture there were plenty of dark spots. Many a dealer called the boom "profitless prosperity," as he cut his profit as low as $25 per car. New sales gimmicks blossomed every day. Miami's Colonial Pontiac Agency offered a weeklong, all-expense-paid trip to Paris for every new-car buyer, had 20 takers in the first week. With each Studebaker sale Washington's Lee Butler gave out one share of Stude-baker-Packard stock, free gasoline for the first 1,000 miles. Los Angeles dealers brought in customers by offering...
Where Will It End? With newer and more efficient machines, the industry expects the boom to go on and on. Replacement sales will be enormous. On tractors alone, replacements average 10% of the total each year, by 1960 will hit 450,000 units annually. Says Oliver's President A. King McCord: "We believe that 1960 could be the biggest year of this industry just on replacement alone." Beyond that, the world's food requirements are growing with the fast increase in population. Says Ford Vice President Irving A. Duffy, chief of the farm division: "By 1975, our population...
...result of the marching mechanization, the U.S. farm-machinery industry is heading for the greatest boom in its history. After a three-year slump, farm machinery sales last week were 15% higher than in 1954. Every firm-Oliver, International Harvester, Allis-Chalmers, Massey-Harris-Ferguson-has dozens of machines on the market to do almost every job under the farmer's sun (see color pages). John Deere alone has machines to do 100 specific jobs and variations on each that run into the thousands. And throughout the industry, engineers are busy devising dozens of still newer machines, not only...
Career-in-Boom. Sonnabend began his career of buying and selling in Boston, where he was born. After graduating from Harvard ('18), and serving briefly as a naval aviator at the end of World War I, Sonnabend borrowed $5,000 from his jeweler father, and in less than a year made $22,000 buying and selling real estate. He paid his father back, and went on making and saving money the same way all through the 1920s. During the 1930s he bought Boston-area hotels at Depression prices, made his first million when he sold them during the early...