Word: lumber
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...national product jumped from $17.8 billion in 1950 to $21 billion in 1951 (making it roughly comparable to the national product of France). Her foreign trade and cash farm income both rose an estimated 25%. Production boomed in all the country's traditional exports-newsprint, wheat, lumber, asbestos and nickel. But the most striking figure of all was the year's new capital investment of $4.6 billion ($800 million from the U.S.). That made 1951 far & away the biggest development year in Canadian history...
Cradled between the northern Rockies and the Cascades is a vast area-eastern Washington and parts of Montana, Idaho and Oregon-which natives like to call the Inland Empire. Bigger than New England, it is rich in wheat, minerals, apples, lumber, scenery-and atom-bomb works. The-chief bellringer and arbiter for the empire is the Spokane Spokesman-Review, a newspaper which President Truman in one of his cocky moods once paired with Bertie McCormick's Chicago Tribune as "worst" in the country...
...Johnson Lumber Corp., one of the biggest and most profitable in the Northwest, had a vexatious problem: too much cash on hand and more profits pouring in from its huge timber stands. If the $6,375,000 in cash and Government bonds in the company till was paid out in dividends to the Johnson family, which controlled the company, most would go for income taxes. The Johnsons talked their problem over with another lumberman, 48-year-old Owen Cheatham, president of the Georgia-Pacific Plywood Co. Cheatham had worries also...
...Loss. Until five years ago, Georgia-Pacific wasn't making any plywood at all. It was merely a lumber company known as the Georgia Hardwood Lumber Co. which Owen Cheatham had started 20 years ago in a tiny Augusta, Ga. bungalow. After he graduated from a military academy, young Cheatham spent a few years learning the lumber business in several small companies, before he started Georgia Hardwood with $6,000 of his own and $12,000 borrowed from friends. A crack salesman, Cheatham sold $250,000 in lumber the first year, netted $24,000. The company has made money...
Cheatham opened sales branches in 15 countries, soon was selling 50% of his lumber abroad. During the war, he picked up four sawmills at sawdust-cheap prices, and was ready with his own lumber supplies when World War II ended. By 1946, he had annual sales of $13 million, and a young management raring to expand. The booming plywood business seemed just the thing...