Word: rayon
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...this year. Philip Morris, like many another young, fast-moving company, will therefore get it in the neck. Similarly the railroads (who will do a lot of defense hauling), sluggish for years, will escape the tax, while aircraft makers will be hard hit. Other marked victims: makers of rayon, paper, heavy machinery, electrical equipment. Others comparatively untouched: utilities, oil, department stores, airlines, mines...
Production. Already under way, in fact, was a rush for merchandise. First to feel t as usual was the cotton textile market, here orders for future delivery-protection against empty shelves-totaled 100,000,000 yards, equal to five weeks' production. The liveliest textile industry, rayon, is producing 23% ahead of the first eight months of 1939, nevertheless maintaining shipments out of inventories, In the sensitive hide and leather markets, sales expanded, and the rush bid hides...
...ending Aug. 3 were 6% above last year. Automobile and chain-store sales were ahead. Most cheerful note of all was struck by the Federal Reserve Board, which last week published its long-overdue revised index of production. Adding 23 important but hitherto neglected industrial series (machinery, aircraft, liquor, rayon, chemicals, etc.) to its index, revising the weightings and employing a new base period (1935-39 instead of 1923-25), the Federal Reserve Board found business much better than its old index had shown. For June, the new index (if calculated as a percentage of 1923-25, like...
...these cases the Administration's methods had a spur-of-the-moment look, gave no hint of how prices might be controlled in the face of a real inflation. But last week that hint was given. The offending commodity: chemical wood pulp used for paper, rayon, explosives. The method: a round-table agreement. Franklin Roosevelt, in describing it, clearly indicated that his Defense Advisory Commission had established a precedent...
...Sears reductions included: cotton piece goods, 1.04%; cotton clothing, 1.25%; wool clothing, blankets, etc., 1.32%; silk goods, 10.22%; rayon, 1.3%; shoes and other leather goods, 1.96%; automobile tires & tubes, 2.32%; electrical appliances, 2.11%; floor coverings, 5.19%; building supplies, 2.35%; furniture...