Word: roebuck
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...instead of an increase in U. S. buying (which had gone up steadily since 1934), there was a heavy decrease. Japanese sales to Sears, Roebuck fell off 70%, sales to five-and-ten chains dropped, sales of silk and Japanese textiles tumbled. With a good start, Japan's sales to the U. S. at the end of 1937 hit $204,201,000, and from the U. S. it bought $288,558.-ooo. But by the end of 1938 sales to the U. S. dropped to $126.820,000, purchases in the U. S. dropped to $239,620,000 and Japanese...
Consumer Goods Stocks: Sears, Roebuck climbed 3%, steady-yield A. T. & T. 4%. Woolworth, with its big British and German subsidiaries likely to be war-slugged dropped 8%. Eastman Kodak dropped 7% apparently because investors connected Kodaks with beach parties, forgot Eastman's chemical and plastics business, forgot that armies use cameras...
...Charles Edison (Navy) suddenly announced the creation of a civilian advisory committee to work with the joint Army & Navy Munitions Board. Its personnel: Able Edward R. Stettinius Jr., young (38) whitehaired chairman of U. S. Steel Corp.; American Telephone & Telegraph's President Walter S. Gifford; Sears Roebuck's Brigadier General Robert E. Wood, who, as Acting Quartermaster General, directed U. S. Army purchases in 1918; able though little known John Lee Pratt, a retired vice president of General Motors; M. I. T.'s Physicist Karl T. Compton; Brookings Institution's Economist Harold G. Moulton...
...Nickel, Standard Oil of New Jersey, Texas Corp., National Steel, Liggett & Myers "B," Reynolds Tobacco "B," U. S. Tobacco, American Telephone, Consolidated Edison, Public Service of New Jersey, Eastman Kodak, International Harvester, Procter & Gamble, Sherwin-Williams, Union Tank Car, American Chicle, Beech-Nut, General Foods, J. C. Penney, Sears-Roebuck, Commercial Credit, Commercial Investment Trust, Household Finance, International Business Machines, Allied Chemical, New Jersey Zinc, Homestake, Phelps Dodge, Bristol-Myers...
Exit Standing ruggedly ready but idle in the wings of the New Deal show for several weeks has been General Robert Elkington Wood, president of Sears, Roebuck & Co. Last March when business appeasement was in the wind Secretary of Commerce Harry Hopkins invited him to Washington as a special adviser. Since then Harry Hopkins has been ill, and appeasement in U. S. politics like appeasement in European politics, has lost its vigor. Last week, as even hoped-for revision of deterrent corporate taxes disappeared (see p. 17), General Wood left the wings without going on stage and returned...