Word: pulping
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...seen it in the movies, perhaps, or read it in the magazines. There are always some aloof, self-confident seniors, a middle group of rowdy juniors and sophomores, and then the great mass of freshmen, timid and unsure of themselves. It would be hard to convince the scenario and pulp writers that there is anything wrong with this picture, but if you look closely in the Yard this weekend, you may discover that it isn't entirely accurate. Of course, you Freshmen will be there, feeling, and looking, a little strange and out of place in your new surroundings, bewildered...
Late last week Defense Advisory Commissioner Edward R. Stettinius Jr. made a cheerful announcement. For the first time in 30 years the output of the U. S. wood-pulp industry practically equaled U. S. consumption. Production this year, said he, should hit a record 9,000,000 tons, up 27% from 1939's 7,107,000 tons. Furthermore, if U. S. pulpsters bring old, inefficient plants into action, they can boost production another...
Last year the U. S. was the world's No. 1 pulp importer. Of the 2,026,209 tons it imported, more than half came from Scandinavia. The U. S. is still the No. i importer, but now it is also the No. 2 world pulp exporter, second only to Canada. Fortnight ago the Department of Commerce announced U. S. pulp exports in July hit an all-time high of 65,548 tons, nearly six times a year ago. Raw-materials Watchdog Stettinius added that full-year shipments would total 400,000 tons (mostly to the United Kingdom, Latin...
From this lush new export market (where prices are $10 to $21.40 a ton over the domestic level) U. S. pulp makers are skimming the cream. But they do not consider it permanent. A break in the British blockade would release a tidal wave of low-cost Scandinavian pulp, force prices far below anything U. S. mills could meet. Already pulpmen have had reason to be leery of the Latin-American market. Last spring, after Norway's collapse, they were hounded by Latin-American purchasing agents. Suddenly the agents vanished. Nazi salesmen had promised them low-priced pulp deliveries...
World War II has done more than turn the U. S. into an exporter of pulp. Pulp prices have soared, are 50% above what the industry itself regards as normal. Contract prices on domestic kraft pulp have jumped from $25 a ton to $61 ; bleached No. 1 book sulfite pulp, at $72.50, is 45% above August 1939. For integrated paper companies with their own pulp supply, this is caviar. International Paper & Power earned $3.61 a common share in six months ended June 30 as against a deficit of $1.22 last year. But for the nonintegrated units ("converters," who buy their...