Word: rayonism
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Dates: during 1940-1949
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North American Rayon Corp., seventh largest U.S. rayon yarn maker, and its sister company American Bemberg Corp., have had a troubled history. In 1940 the U.S. Government, suspecting that their parent company, the Dutch Algemeene Kunstzijde Unie, N.V. ("AKU"), was partly German-controlled, froze the properties, but allowed the U.S. directors to run the companies...
Secret Process. Dave Bazelon held some strong notions about how to run the companies. He thought the two rayon firms were making too much money (last year they had netted $5,700,000 on $37 million in sales). He also suspected that some of their customers were reselling their rayon in the grey market...
Bazelon got the FBI to investigate. Its agents marked outgoing rayon by a secret process, and traced it through the grey market. The FBI estimated that 10-15% of North American and Bemberg's output was being resold at prices up to $4 a pound, four times the factory price...
Public Exit. That was proof enough for Bazelon. At a directors' meeting he insisted that the companies sell their rayon to more buyers, police each one to see that no rayon got into the grey market. The company said that was impossible...
...first postwar shipment of Japanese rayon arrived in the U.S. But it gave U.S. rayon men no competitive worries. The Japanese product was so poor that importers could sell little of the cloth to U.S. buyers. They were offering it for reexport at about 50? a yard, considerably under domestic prices...