Word: prices
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Dates: during 1940-1949
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...show opened, the Whitney announced it would soon jettison its fine collection of 19th Century art (worth perhaps $250,000), use the proceeds to buy more & more paintings like those in the current show. For the price of such a proven masterpiece as Thomas Eakins' The Biglen Brothers Ready to Start the Race, the Whitney could probably pick up the latest Koerner, and the latest Kantor, Gatch and Levine...
Nobody had to read far to find out what the announcement meant: "Subsidiaries of United States Steel Corp. have announced today new mill prices . . ." Thus last week did Big Steel's President Benjamin F. Fairless give his answer to the $100-a-month pensions won by the C.I.O. Steelworkers only five weeks before (TIME, Nov. 21). Because of higher operating costs, said Fairless, the company was raising the price of steel by an average of 4%, i.e., $4 a ton. Other steelmen scurried to their adding machines to figure out new price schedules themselves. But by week...
Could the price rise be justified by higher costs? Two freight-rate increases had boosted the cost of steel's raw materials; another boost in coal prices was in prospect. But scrap, which is a major cost in making steel, was selling at an average of only $27.25 a ton, compared with $43 a year ago. As for the new pension program-U.S. Steel officials could not, or would not, say what it would cost the company in the first year (guesses by outsiders ran as high as $80 million a year...
...they gave farmers about 2,000,000 pine seedlings a year to rebuild depleted timber stands. With his newsprint plant furnishing an expanding market, Kurth estimates that farmers can get $5 to $7 an acre every year from timber alone, and "you don't need a subsidy or price support program...
Last week the London-Tangier diamond trade, which had enabled U.S. dealers to get gems for one-sixth under their London price, received a mortal blow. In London's Clerkenwell Court, I. Hennig & Co., Ltd., one of Britain's most respected diamond merchants, was convicted of customs evasion and violation of exchange controls. The prosecution charged that I. Hennig shipped ?76,254 ($213,511) worth of rough diamonds to Tangier and attached false invoices to make it appear that the gems were consigned to a Tangier merchant. Actually, the gems were bought by U.S. merchants, among them Manhattan...