Word: lumber
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Papa Miller began buying stocks, hoping that some day he would have something substantial to leave behind. He bought solely on intuition-shares in Southern Union Gas Co. (he happened to believe in natural gas), Pickering Lumber Corp. and Brink's. Inc. He bought some 12,000 shares of the American Furniture Mart Building Co. of Chicago, watched it climb from 37 to $12.50. By the time he died in 1951, he was the wonder of his brokers. "The old gentleman knew nothing about stocks," said one. "He bought what we call undervalued situations-a company which for some...
...board. The county said that it could not build a new school because there was no land available with a clear title, and the old site on the mountainside was too dangerous. Then, one night, a great storm blew up. Next morning the old schoolhouse was a pile of lumber at the bottom of the creek, and there was still no prospect...
...solve the problem of fire prevention, engineers treated all wood used in the stands with a special fire-resistent chemical. In all, 200,000 board feet of lumber, 650 tons of structural steel, and 200,000 bolts, nuts, and screws went into the making of the additional stands...
...rising with such products as Novoply, a composition board made from wood chips and shavings, and Zeprex, a Swedish-developed building material (made of cement, water and chemicals) that looks like concrete but can be sawed, chopped and nailed. Another U.S. Plywood plan for expansion: invasion of the wholesale lumber field, using logs cut from its own forests but not suitable for plywood...
Many of Ruml's suggestions were not new. "It's just taking a lot of old lumber and a few nails," said he, "and making something out of them." To many a conservative Congressman, the Ruml plan seemed little more than a bookkeeping operation, reminiscent of the New Deal's brain-trust days. Admitted Ruml: "It's a bookkeeping operation, but not 'just' a bookkeeping operation. It may be that in these years the splitting of the budget is more important than splitting the atom. We can't have a free economy with...