Word: lumberingly
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...Salinas Airport, workmen anchored an iron hangar to four ten-ton ice trucks to keep it from blowing away. At a beach near San Francisco, waves slammed 100 feet beyond high water mark, knocked three houses off their underpinnings. Ten Coastguardsmen who set out to aid a damaged lumber schooner off Fort Bragg soon needed help themselves. They lashed their two small boats together, rode out 40-foot waves in rain and fog for 40 hours before they were rescued...
Price pyramiding in the lumber industry was outstanding. Late in August, the Army's cantonment orders hit the lumber markets (particularly southern pine & Douglas fir). In two months, the price of yellow pine timbers jumped 27% and stayed there-although the Army's ordering was finished in one week. By December, each week brought a new markup in a different type or grade of lumber...
With the Supreme Court's Los Angeles lumber case to guide it (TIME, Dec. 18, 1939), the ICC in reorganization cases has recently shown little mercy to common stockholders whose equity is under water. Its plan for the Missouri Pacific last January wiped the common out entirely. Last spring it worked out a plan for Erie. To placate the two major interests- which had been bickering since Erie fell into receivership-ICC effected a compromise. The interests: 1) the Erie bondholders; 2) the C. & O., which held 56% of the voting power. The compromise: capitalization would be slashed from...
...Indiantown Gap. Pa. a camp for 20.000 men was pitched on rock and shale, where well-digging was slow and inordinately expensive. Result: a month's delay. In New England, where an abundance of lumber could be salvaged from hurricane-felled trees, camp constructions waited for lumber from the Pacific Coast (where lumbermen last week settled a ten-week strike, averting further delays). Contractors working for cost-plus-fixed-fees could afford to snatch labor from nearby rivals who had lump-sum contracts, thus delaying construction at other camps and highlighting the lack of a planned labor supply...
...lumber business has boomed. A. F. of L. unions have demanded higher wages. While A. F. of L. picketed a big Weyerhaeuser mill in Everett, demanding 7½? more than the present minimum 62½? an hour, the C. I. O. union stepped in, signed a contract gaining only 2½? an hour increase. This situation demonstrated, for anybody to see, the need for labor unity...