Word: rayons
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Those whose profits had been nipped by the recession were finding some consolation around the bargaining table. The powerful C.I.O. Textile Workers Union reluctantly decided not to ask for wage increases for its 120,000 members in the cotton-rayon industry when the present contracts expire in September. The Ford Motor Co. also decided the time had come for plain talking. It turned down the U.A.W.'s wage and pension demands and proposed freezing wages for 18 months. Said Ford's Bargainer John S. Bugas: "It would be utter folly to take any action which would increase...
...carried a fearsome cargo-eighty 55-gallon drums of carbon disulphide, a poisonous and volatile chemical used as a solvent in making rayon and rubber goods. When it had trundled three-fourths of a mile along the echoing, white-tiled, two-mile tube, one of the drums mysteriously exploded. Glaring gouts of flame and clouds of choking yellow fumes burst from the trailer; the driver took one horrified look in his rear-vision mirror, jumped out, ran and leaped on a truck passing in the other lane...
...reached with private firms, 40 new plants were in operation or planned; five other companies were dickering to set up factories. Biggest of the newcomers is Textron Inc., which abruptly closed its Nashua, N.H. plant (TIME, Sept. 27) and is now finishing the first of five factories to manufacture rayon and other textiles in Puerto Rico. Other new plants include Tele-tone (radio tubes and equipment), Crane China, Fashion Rite Gloves...
...converter. Young Jake had a knack for figures, studied nights to improve it. By 1928 he had risen to treasurer. In that year, Bankers Kidder, Peabody & Co. raised about $20 million to make Cohn-Hall-Marx the base of a textile pyramid integrating many different businesses in the cotton-rayon industry. The new giant was United Merchants & Manufacturers Inc. and Jake Schwab went in as treasurer. He stepped into the president's shoes...
With some markets shrinking, flexible Burlington hoped to expand promising new ones. It expects rayon this year to capture 30% of the market for men's summer suits (v. 10% last year). Burlington also expects a big demand for new nylon fabrics for men's hose, nurses' uniforms (quick-drying, don't require ironing), and washable automobile upholstery...