Word: hendersons
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Curfew on gas stations in the East last week got startling results. The first was the discovery by the Government that instead of dropping, gasoline consumption rose an estimated 8%. The second was the discovery by the public that Government rationing had already arrived. Without warning, OPACS' Leon Henderson ordered oil companies to cut their deliveries to filling stations 10%. That did give motorists a jolt...
Bewildered by this sudden turn of events (though something like it had been promised), consumers wondered how the remaining 90% was going to be distributed. Outside of declaring that service stations should discriminate in favor of commercial and farm vehicles and private cars on business bent, Mr. Henderson gave no hint. Distribution was up to the man at the pump...
...help and its echo from a chasm were statements of the two top U.S. defense officials last week. OPM's William Knudsen in Manhattan said that present defense output of $9 billions annually must be increased to at least $20 billions by next summer. OPACS' Leon Henderson in Washington gloomed, "Soon there will be 2,000,000 more unemployed...
...overworked jaw of Leon Henderson, busy trying to talk prices down and a price control bill through Congress, President Roosevelt gave help this week. Invoking the amended Trading with the Enemy Act of 1917 (which previously had served as a basis for freezing Axis funds) the President issued an executive order clamping down hard on consumer credit...
...Already Henderson's price ceiling is honored as much in breach as in observance. By simply "grading up" low-quality scrap, sales are made above the ceiling; the magazine Steel reported last week that only about 60% of scrap was actually sold at OPACS prices. Last week Henderson decided that "monopoly" practices were boosting prices and cutting off the flow of scrap, asked the Justice Department to make an investigation. His charges: about 15 big brokers supply 90% of scrap bought by steel mills...