Word: copper
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Dates: during 1930-1939
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...They found that the U. S. produced 34% of the world's coal; 32% of its copper; 35% of its electric power; 29% of its iron ore; 62% of its oil; 78% of its sulphur; 22% of its lead; 79% of its passenger automobiles and 66% of its trucks; 30% of its cotton and 67% of its silk goods; 67% of its rubber goods; 43% of its chemicals; 90% of its movies...
...money going into World War I's favorite commodities. Earlier in the month knowing speculators in copper had been stung by the price being pegged at 12? a Ib. (1918 high 26?). Europe was showing no signs of needing U. S. copper. Another World War II flop was wheat, which boomed to 92? first week of September, ended the month at 87? (1918 high: $2.25). Reason: for the week ended Sept. 23, U. S. grain exports totaled 366,000 bushels against 2,779,000 bushels in the same week of 1938. One commodity which had previously got somewhere...
...belligerent nation often needs wheat and lard and cotton . . . just as much as it needs anti-aircraft guns. . . . . . . Let those who seek to retain the present embargo be wholly consistent and seek new legislation to cut off cloth and copper and meat and wheat and a thousand other articles from all of the nations...
...even such mills were held down to the pace of old-fashioned brass foundries integrated with them. Meanwhile, war orders piled up at the same time as ordinary post-Labor Day orders from the auto companies, who want prompt delivery and plenty of it. This brass bottleneck caused copper sales to lag, particularly because brass manufacturers bought far ahead last May (TIME, May 15); and England, willing enough to buy processed brass, is not wasting her precious foreign exchange buying U. S. raw copper for her own mills, when she can obtain it from South Africa...
Reason for the sudden change: the advent of World War II changed the minds of Marion's customers in the latent coal-copper-iron business. They wanted shovels -wanted them fast. In ten days Marion got $1,000,000 worth of orders (one-sixth of a normal year's business...