Word: plant
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Dates: during 1930-1939
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...favorite New Deal complaint is that the public utilities are holding back on plant expansion and equipment modernization. Since 1933 the industry has spent some $600,000,000. Critics say potential needs totaled $3,000,000,000. The utilities' argument is that the New Deal's TVA, its Public Utility Holding Company Act, its generally belligerent attitude, have made it next to impossible for utilities to float new security issues. Last week there was evidence to the contrary: investors snapped up $53,000,000 worth of utility bonds, making the month's total more than...
...Crucible Steel 3½% debentures. Like the year's two biggest industrial loans (U. S. Steel's $100,000,000 issue in June, Standard Oil's $85,000,000 issues in July), part of Crucible Steel's new money will be spent on plant improvements. All told, the week's Wall Street financing reached $72,762,000, compared to $7,940,685 the week before and $39,675,000 for 1937's corresponding week...
...then pleads inability to pay, Costa Rica is obliged by its Constitution to pay first, then expropriate. Last week President Léon Cortés Castro approved a plan to dig up the necessary payment-a Government bond issue mortgaging the firm's $3,000,000 power plant. The sirens which acclaimed future Government control of a U. S. public utility were premature, however. Three million dollars would be a staggering amount for agricultural Costa Rica's 591,000 inhabitants to kick in for such a bond issue at home. Abroad, the Republic has already piled...
...largest company of its kind in the world. To explain this record, Scott officials talk lovingly of the quality of their tissue. Last week Scott talk turned from tissue to issue as the company registered with SEC plans for a $3,000,000 flotation of stock for plant expansion. Simultaneously, genial President Thomas Bayard McCabe reported a half-year net profit of $743,627.72, best six months in Scott's history...
Scott paper is made at a slick modern plant at Chester, Pa., where scientific improvement is the guiding passion and a minimum wage of 60? an hour has obviated labor troubles. Chief reason for the company's success is its product, specially created for softness and absorptive qualities. Two other factors help explain why Scott's big Fourdrinier machines now work a 24-hour day seven days a week (one of them has done so since 1924). As pointed out in the latest Brookings Institution tome, Industrial Price Policies and Economic Progress (TIME, July 18), Scott...