Word: centralization
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Dates: during 1930-1939
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Bantam. The sole newcomer to U. S. automobile ranks is this week to be seen at Manhattan's Hotel Roosevelt, having been denied space in Grand Central Palace because American Bantam Car Co. has not been in production a year. Practically the same size, but better streamlined and twice as powerful as the ill-fated American Austin (now defunct, though Austin Motor Co. Ltd. still prospers in Europe), the Bantam is being made in the old Austin plant at Butler, Pa. under the leadership of a onetime Austin salesman named Roy Samuel Evans who has had a genuine Horatio...
From the year's low of 30.09 the Dow-Jones railroad averages climbed briskly to 35.03 (year's high: 64.46). New York Central, which had been down to a low of $15.13, came back to $21.75. Pennsylvania was up from $20 to $27.50; Southern Pacific up from $17 to $23.75. Leading industrial and utility stocks showed almost parallel rises. From last week's low of 125.73, the Dow-Jones industrial averages stepped up almost ten points. U. S. Steel alone remained sulky, hovering around the $61 level...
...railroads, remains many millions below what they feel they need, and they immediately set about asking for more.* Meanwhile, however, railroad stocks on California exchanges, which had not yet closed when the I.C.C. decision was announced, surged still further ahead on the good news. New York Central closed in San Francisco $1.13 above its New York final sale. Witnessing this, many a Wall Street "market letter" went out that night predicting a thumping bull market in Manhattan next morning. Instead, to the confusion of prophets, railroad stocks and most others fell like a load of corncobs dumped from a hopper...
...nation's most potent trade groups. One of Al Reeves's jobs as A. M. A. vice president and general manager is running the annual U. S. Automobile Show. Last week Impresario Reeves was up to his fenders in work preparing Manhattan's hulking Grand Central Palace for the opening this week of the 38th show...
...been incorporated in 1922, was about ready to start opera tions when Depression intervened. Mean while, similar enterprises achieved an enormous success in Europe. The process (whose U. S. name of Muzak is a trade mark perversion of Music) consists merely of playing transcribed music in a central bureau and delivering it by telephone wires to subscribers who hear it through loud speakers. New York City at present is the sole U. S. spot to enjoy Muzak and ordinary citizens enjoyed it there long before tycoons, because 300 bars, restaurants and hotels have already installed it. Eventually Muzak hopes...