Word: profitable
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Dates: during 1940-1949
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Most businessmen, well aware of the danger of exploding inflation and finding first-quarter earnings good, were as anxious as anyone to dampen down. Philip Reed, chairman of General Electric, declared: "Prices . . . should be kept scrupulously down even at the expense of normal profit margins." Manhattan's department store, R. H. Macy, bought space in newspapers to publicize President Jack Straus's plea for retention of OPA "as a necessary check against runaway prices...
...highways outside San Antonio and Austin, Tex., there is lively bidding each night at $1,200 for big truckloads of lumber worth $720 at ceiling prices. In almost every rural area, war veterans with priorities bought new tractors, sold them back of'the barn at $500 profit. In Florida, cement building blocks (ceiling 17?) had a current black-market price...
Died. Robert Abram ("Captain Bob") Bartlett, 70, salty, sentimental sea dog who spent nearly half a century moseying around the Arctic for fun and profit; of kidney and heart disease; in Manhattan. In 1909 he commanded the ship that carried Peary within dogsled distance of the North Pole...
...Losses of War. Prime example of what strikes had done was the steel industry. Bethlehem Steel actually lost about $6,200.000 in the first quarter, compared to a profit of $7,695,909 last year. By transferring $11,000.000 from reserves, it was able to report a "profit" of $4,804,438. It also stirred up a controversy on whether it is good bookkeeping to charge strike losses against reconversion reserves...
This is no undertaking to mullet the Dining Hall System. The money turned over to Harvard food Relief will be an indirect contribution from University students in response to President Truman's appeal. On the other hand, no one need fear that Lehman Hall is going to make a profit at his expense. Any funds saved above the specified amount will be turned over to the Committee after a general accounting in June...