Word: prewar
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...Admissions John M. Daniels, Carnegie's enrollment applications had dropped 40%. Said he: "It is a 'buyer's market from now on, and those colleges which insist on top-ranking students are going to have to go out and compete for them as we did in prewar years . . . The honeymoon is over...
...while Nuffield was still honking along with cars made from prewar dies, Lord rolled out a spanking new, postwar-model Austin for the U.S. and Canadian market. Last year he sold $22 million worth in the U.S. and Canada. Nuffield had to content himself with selling his prewar cars in the Empire and soft-currency areas in Europe, while he changed over to his postwar models...
Naousa is an important textile town, 90 miles west of Salonika, whose prewar population of 12,000 had been more than doubled by refugees. Last week TIME Correspondent Robert Low, going into Naousa with a government relief column, found the people-those who remained-numbly picking their way through' rubble and wreckage, as though dazed by some cataclysm of nature. There had been a cataclysm, but it was manmade. The Communist guerrillas had taught the townspeople, as they had taught many other Greeks elsewhere, not to be friendly with the Athens government, and especially not with Americans...
There was no hope for that until the buyer's market had brought something like prewar sales conditions. Charles Erwin Wilson did not look for it until the prices of late-model used cars were at least 25% under new car prices. That seemed some time off; despite the used-car slump, most G.M., Ford and Chrysler "new" used cars were still selling at over the list prices last week. Thus, most automakers thought that car prices would stay where they were for a long time. As for Wilson, who wanted prices to come down, too, he said...
...most cogent argument against expansion was that it now costs an estimated $300 to add one ton of new capacity for finished steel (v. $75 prewar). Yet tax allowances for depreciation do not take the high replacement cost into account. For example, much of the cash being put in U.S. Steel's depreciation reserve has come out of profits and, as such, is taxable...