Word: goodyears
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...hundred years ago last week a persevering Yankee named Charles Goodyear brewed some crude rubber, sulfur and white lead on his kitchen stove, discovered vulcanization. That invention changed rubber from a scientist's plaything to one of mankind's most useful commodities. Today there are some 35,000 uses for rubber, 4,000,000 people are employed in the industry and its world-wide investment comes to $2,698,000,000. Greatest concentration of this great sum is found in Ohio's 122 rubber factories and last week in Akron, "rubber capital of the world," the industry...
...Charles Goodyear never visited Akron. His invention arrived there in 1869, eleven years after his death. That year, Dr. Benjamin Franklin Goodrich founded the city's first rubber company, choosing the town because the Ohio & Erie Canal afforded cheap transportation. Goodrich celebrated its 70th birthday last week by announcing a 1938 net of $2,240,119 after a 1937 loss of $878,580. Surpassing it in size are three younger competitors-Firestone Tire & Rubber, U. S. Rubber, Goodyear Tire & Rubber. Goodyear, now the industry's biggest (with 1938 profit of $6,012,423 on net sales...
...ruling was that they had to pay duty on the paintings not as reproductions of postcards, worth approximately two cents each, but as fashionable paintings, worth from $200 to $2,000 each. What saddened dealers, critics (including the Museum of Modern Art's President Anson Conger Goodyear and Director Alfred H. Barr Jr.) and artists in general was the ruling's implication: that an artist's model rather than his method determines whether his work is original...
...last week more artistic large fry than you could shake a palette-knife at. Her greying hair done high and sculptural, Hostess Edith Gregor Halpert of the Downtown Gallery swept busily from guest to guest: gentle Alfred Barr Jr., director of the Museum of Modern Art; frosty-headed "Grouch" Goodyear, the museum's president; Mrs. Juliana Force, redoubtable director of the Whitney Museum; sunny Holger Cahill, director of the Federal Art Project; big, Indian-looking Artist Eugene Speicher, burly, blue-eyed Reginald Marsh, bright-eyed, skimpy-chinned Peggy Bacon, melancholy Morris Kantor, spindly Charles Sheeler...
Only one bidder-a Seiberling representative-turned up at the sale. He bid just once: $752,000. Thus, F. A.'s company bought back its entire funded debt, $2,350,000, at 32% of its face value, simultaneously paying off Ohio Goodyear's bank debt and canceling the profit from the stock sale. However, on the paper profit ($1,598,000) from acquiring the debentures at the written-down figure, Seiberling Rubber Co. must pay a 19% capital-gains tax of $303,620. Net result: Seiberling Rubber retired its $3,100,000 loan by a cash outlay...