Word: gypsum
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Dates: during 1950-1959
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Coulter borrowed $250,000 for new equipment, hustled business from such big shippers as Quaker Oats, U.S. Gypsum and Armour, reopened 20 freight offices across the country, and started informing shippers by postcard on every movement of their freight. He raised wages to standard rates, set up a management-labor suggestion committee, spruced up cabooses with new coats of paint, good toilet facilities, even outlets for electric razors...
Beaver Boy. The new plant will help Baker to close the gap in his 26-year race to overtake Sewell Avery's giant U.S. Gypsum Co. In that race, Baker has already turned in a spring-legged performance. He quit Tennessee's small Carson-Newman Baptist college after two years, later started selling once-famed "Beaverboard" in the South for the old Beaver Co., rose to sales manager...
Beaver-busy, Baker moved on to Manhattan, was soon vice-president of a credit company. In 1925, when two former Beaver associates came to him with options on rich gypsum ores* near Buffalo, the three teamed up to form National Gypsum, and buck U.S. Gypsum, which then had a virtual monopoly on wallboard. They had $150,000 in capital, and figured that they needed $2,000,000. Baker raised it in four months by sending his salesmen out to sell stock instead of wallboard. In 1926, with a total of 57 employees, he began mining the gypsum and turning...
...products. Most recent: rock wool "blankets" for home insulation and a simple roll-on method of refinishing old walls with colored plaster. This year, after spending $41 million on new plants in the postwar years, Baker expects his sales to reach a record $90 million (almost half of U.S. Gypsum), although taxes will trim his net from 1950's $9,200,000 to about $6,600,000. Despite rearmament's curbs on building, he expects his sales to keep rising...
...After lumber, gypsum is the single most important U.S. building material. It is used for plaster, lath, walls, ceilings, insulation...