Word: motoring
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Dates: during 1940-1949
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...Lieut. General Brehon Somervell authorized the Canol project without consulting the Navy (or any other department), spent $134,000,000 on it, used up some 200,000 tons of scarce material, wasted manpower and supplies when "four tankers . . . could have carried in one trip more 100-octane gasoline, motor gasoline and fuel oil than would be produced by the entire Canol project by Jan. 1, 1945. . . all because of a disintegrated military setup under which coordination cannot be compelled...
Last week Joseph Washington Frazer reached the motor magnates' Valhalla. He had been elected board chairman of Graham-Paige Motors Corp.; now Joe Frazer could make and sell his own automobiles. In a happy hubbub, almost like old times, he watched telegrams coming in from dealers all over the country, asking for postwar franchises...
...week's end, on his way to Newport, the usually genial Joe Frazer was not especially happy. He did not mind being the only dollar-a-year executive in the motor industry; his week-old position gives him other compensation of the incentive type...
These rumors and their variations spurred boardroom sitters to action in brokerage offices throughout the U.S. Their buying huffed low-priced motor shares into new high ground, made them the most active on the Exchange. The rumors blew Graham-Paige before the steely eyes of the SEC, which already, like thousands of small speculators, was asking, "What goes...
...Graham-Paige statement, together with the information given out by Atlas Corp. officers, stilled the storm. Volume in the low-priced motor shares fell off and prices receded. By week's end, interest had shifted to old favorites...