Word: implementation
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Dates: during 1940-1949
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Last summer Chicago's mammoth International Harvester Co., No. i U. S. farm implement manufacturer, belatedly entered the booming small-implement market with a new, light tractor selling at $515, or $225 cheaper than any previous International model. Fortnight ago it caught up with the sensationally successful market in small combines (which harvest and thresh crops in a single operation as they move through fields) by introducing a 4-ft. model priced at $405-cheapest in the U. S. save for Allis-Chalmers' 40-in., $340 combine which opened up the small-combine field five years...
...Republican Position. The New Deal conception of a limited and lessening outlook for American enterprise and the reactionary policies of economic restriction with which it has sought to implement this conception should be decisively rejected...
Competition within the industry is meanwhile remaking the business. Milwaukee's famed electrical machinery producer, Allis-Chalmers, is a sensationally successful factor in the industry. In 1927 Allis-Chalmers' sales of all products totaled $30,593,000 and farm implements made up 7.7% of the total. By 1936 its gross from farm implements alone had topped $33,000,000. Farm implement sales were 2.9% of its earnings in 1927, 66.3% of the net nine years later. Among the reasons for this are that Allis-Chalmers introduced rubber tires on tractors (today 45-60% of all tractors sold...
...last year Allis introduced another at $345). During the 1938 recession (when the rest of the industry raised prices) Allis-Chalmers introduced a $495 tractor, priced $200 under the market, which turned out to be no mean factor in raising it's first-half 1938 farm implement sales 10% over the boom first half of 1937 while competitors were...
Question is whether the healthy competition started by Allis-Chalmers has taught U. S. farm implement companies their lesson. Barely two years ago the industry greeted Depression II with a 4-5% price rise. So catastrophic was the kickback that, later in 1938, the increase was given back, prices on heavy machinery were slashed up to 12%. With dollar-plus wheat and 72? corn, the industry has not guaranteed its customers against a price rise in 1940. It always prefers rosy spectacles...