Word: expands
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Dates: during 1950-1959
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Tightening Up. Last week FRB, which had been tightening up on credit since last summer, thought the time had come to tighten up some more. Bank loans, which expand credit and to some extent feed the fires of inflation, rose $108 million in the New York City area, to an all-time high of $5.7 billion (topping the previous peak of 1948). There was little doubt that loans around the nation were also...
...spite of their locker-bulging growth, frozen-food companies still have plenty of room in which to expand. Only 13.4% of U.S. families now drink frozen orange juice regularly; frozen vegetables amount to only a fraction of the total market. Optimistic frozen-food men think that if grocers would increase their freezer space they could "just about kill the fresh vegetable market...
...What I wanted was not suggestions or hopes, but actual commitments for the future." The American Iron & Steel Institute, he explained, had drawn up the figures based on the expansion programs of 20 big companies. Sawyer, who thinks that the best way to carry the rearmament burden is to expand production rather than cut civilian consumption, summed up: "The peak of military requirements and consumption during World War II was in 1943 when 53 million ingot tons of steel were required. By the end of 1952 our steel capacity will be more than double that figure...
Last week Henry had a different kind of news to report. The RFC, he said, would soon get back the $91 million it had lent to Kaiser Steel, which operates the Fontana (Calif.) steel plant. What was more, Kaiser planned to expand Fontana's capacity by 15% (to 1,380,000 tons a year) and install a tinplate plant with a capacity of 200,000 tons a year. With the tinplate facilities, he hopes to get a big slice of business from the West's canning industry, which consumes some 700,000 tons of tinplate a year, most...
...into the permanent tax structure, many businessmen probably prefer an excess profits tax which would end with the emergency. But the emergency which the U.S. now faces, as Harvard's Sumner H. Slichter pointed out, may last for a decade or more. During that time the U.S. must expand all of its resources in a production race with Russia. "We must see that our productive capacity grows rapidly," says Slichter. "An excess profits tax which discourages the growth of productive capacity ... could help us lose the contest. An excess profits tax could be devised that could do more harm...