Word: glutting
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...Earle. He is a pillar in the National Association of Food Chains, which has been creating an astonishing reserve of good will for its members by organizing selling drives to relieve farm surpluses. Last year it started off with a nation-wide campaign in canned peaches, cleaned up the glut in short order. When last year's Drought flooded the market with cattle that could no longer be fed, the chains managed to increase beef sales 34% in the middle of summer, a poor beef season. The same thing was done with turkeys last autumn. From this type...
Against the current used-car glut General Motors has again led the attack. Chevrolet is paying a $20 bonus for each jallopy junked, additional bonuses to salesmen who move more used cars than normally. Oldsmobile also has a bonus plan, stresses "safety inspected" used models. No mean share of GM advertising in the past few months has been devoted exclusively to used-car promotion...
...dollar was devalued last year and not far short of one-half the world's supply. From the recondite records of the Federal Reserve System it was evident that little if any of the timid capital was seeking real investment. The funds were merely adding to the money glut by increasing excess member bank reserves, already amounting to $2,800,000,000. If bankers could find borrowers, those reserves would permit an expansion of credit to ten times $2,800,000,000 and create a boom that would dwarf the 1920's. Such a runaway boom is what...
...exports half its cotton crop. Exports from Aug. 1, 1934 to March 1, 1935 were down 41%. Domestic consumption is off 22%. The world surplus of U. S. cotton, cut two million bales since AAA began its reduction program in 1933, is still an 8,000,000-bale glut on the market. Of this AAA, which pegged the domestic price at 12? through its loans to growers, holds half. And its holdings are rapidly increasing since the domestic market price slipped fy under the peg in March (TIME, March...
...houses on the venerable Baltic Exchange, gave Mincing Lane the jitters (TIME, Feb. 11). The Strauss failure was brought on by its short position in peanut and vegetable fats, of which there is a decided world shortage. But what tripped the Pepper King was not a shortage but a glut...