Word: profitable
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Dates: during 1930-1939
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Comparable to F. D. R.'s "One Third of a Nation," hundreds of ill-housed graduate students are living out their Cambridge years in over-costly and inhospitable rooms. A few dozen of them have already taken refuge in the International House whose non-profit rates have packed the dollar with new buying power. Rooms that go for $5 or $6 a week on the usual Cambridge auction block have been reduced to $2.50. Meals are only $7. Almost like Good Housekeeping's "Dream House", the cooperative venture stands as a model that might well be imitated...
...because sheets will be going at June's cut prices until Jan. 1. And there is a menacing squeeze in raw materials. September pig iron production rose only 12% because blast furnaces for making pig iron are in worse shape than furnaces for smelting steel ingots. Quick to profit from the scarcity of pig (price $22.50) have been the railroads and other sellers of its rival raw material, scrap, who have put the price up to $26 a ton (Aug. 31 price: $15.25). At $26, sheet mills are buying bundles of scrapped sheets which they must re-roll...
Another favorite stunt was buying behind the inventory boom: buying pipe-line companies which haven't yet reflected profits from increased oil production; buying chemical stocks like Union Carbide, Air Reduction and Allied Chemical in order to cash in on the inventory boom in the steel and textile industries these companies supply; buying rail equipment companies like Pressed Steel Car, American Car & Foundry, Colorado Fuel and Iron which seem sure to get the profit booming carloadings should be bringing the unprepared U. S. railroads...
...Hill tried to combine them in his G. N. railroad empire in 1895, failed, saw his dream of consolidation in God's country go up in smoke. Last year N. P. had a whopping $4,300,000 deficit; G. N. a piddling (for her) $2,700,000 profit. Today there is no talk of consolidating the twin grain, iron ore, lumber hauling roads that serve much the same territory. Maybe the arrival of new heads Denney and Gavin will revive...
...Since 1925 it has had a total net profit of $4,277,000. From this it has paid $467,500 to the municipality to finance WPA projects and other city enterprises. In addition to $2,200,000 for bond retirement it has spent $1,398,200 on plant expansion, written off $100,000 in old equipment, laid away $111,800 for working capital...