Word: profitability
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Dates: during 1930-1939
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...next press conference the President modified his resistance. He called one more tax revision conference, including Pat Harrison and John Hanes, but emphasized that any course they took must: i) produce no less revenue than the present laws, 2) provide some way of preventing corporate profit hoarding...
This, of course, is mere generalization. In many cases, big names, outside of their publicity value, provide a net profit on the investment. Even if such men are not available to students, they are extremely valuable for the new ideas which they scatter among their colleagues. Here in particular, a man like Richards is capable of injecting a gush of vitality into Harvard's ailing English department. In the final analysis, it is simply a question of whether the giants will continue to progress and to create, or whether they will stolidly rest on past achievement. An in this case...
Steel. Far from gay, however, was the tory of U. S. Steel Corp. Big Steel has run at lower percent of capacity than the independents, has faced bitter price competition in the profitable (to others) Detroit steel market, has had much of its capacity in Pittsburgh and Chicago idle because of stagnant demand for capital goods. Last quarter it made only 18? a share on its preferred stock, grimly paid holders the $1.75 coming to them: the difference, $5,644,368 (nearly half the size of Chrysler's profit for the quarter), came out of a generation of accumulated...
Meanwhile, the industry's tough guys profited from production at over 50% of capacity. Bethlehem, biggest among Little Steelmakers, jumped its profit 142% over the first quarter in 1938. Steelmaster Tom Girdler's Republic Steel, No. 3 in the industry, earned $532,899 against $3,062,564 lost in the same quarter last year. National Steel, No. 5, still led the bigger fellows, however, earning more on its ingot capacity (71? per ton) than any of them, twice as much as in the first quarter...
United Engineering & Foundry rivals Mesta Machine Co. for the position of largest U. S. maker of steel mill equipment, has assets of $15,500,000 and a 1938 profit of $3,192,000. It built the world's first semicontinuous strip mill for American Rolling Mill in 1926, claims to have produced more of this revolutionary steelmaking machinery than all its competitors combined. President Ladd, a curt, crisp oldster who likes deep-sea fishing and gardening at his estate in Coraopolis Heights outside Pittsburgh, got his job in 1928, immediately began centralizing United's plants and invading foreign...