Word: ebbw
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Dates: during 1940-1949
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...Everybody knows," said a grizzled party worker at Labor headquarters, "that Ebbw Vale will vote Labor and that Torquay will vote Tory. It's the doubtfuls like Hammersmith that'll decide the general election." The Tories felt much the same. "Labor got nearly 12 million votes in 1945," said one of them. "We got nearly 10 million. A million of the 'floating' vote in the next election could turn the tide in our favor . . . That's why Hammersmith is important...
Some 30 members of the House of Commons are onetime coal miners; they know the labor problems of the mines firsthand. Among the ablest of them is Welsh Laborite Aneurin Bevan of Ebbw Vale (pronounced Ebba Vale...
About five years ago Sir William Firth, handsome kinetic chairman of Richard Thomas & Co., Ltd., ?23,000,000 British steel firm, decided that Britain should have at least one modern continuous strip rolling mill, U. S. type. He got his mill (at Ebbw Vale, South Wales), but in financing it he lost control of Richard Thomas & Co. First his own bank, Lloyds, refused a loan, called in an overdraft, nearly strangled Thomas & Co. with a working-capital shortage. The Bank of England agreed to make the loan, but extracted an issue of prior-rights stock and put some...
Next, Britons heard an ugly rumor (still unconfirmed because of defense regulations) that the Ebbw Vale mill, most efficient sheet mill in the British Isles, was lying one-third idle because the Steel Control Committee, a semi-official front for the Iron & Steel Federation, was giving preference in Government orders to cartel-owned mills...
...that time, however, the British Government was beginning to take a hand in British industry with a view to its social and military uses. Sir William was asked to locate his mill at Ebbw Vale in South Wales, a derelict steel'district where new jobs were acutely needed. Partly because of the higher cost of building at Ebbw Vale, and partly because of the 1938 recession, Richard Thomas & Co.'s funds ran out two years ago, before the mill was ready. Sir William accepted a ?6,000,000 loan from the Bank of England. In return for this...