Word: rubber
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Dates: during 1930-1939
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...Corp. uses the same procedure, but instead of buying stocks and bonds, it buys actual commodities or commodity future contracts. On December 31, 35% of its portfolio was in the warehouse, 65% in futures. It had future contracts to buy or sell in cocoa, copper, corn, cotton, hides, oats, rubber, sugar, wheat, wool and pepper. In the warehouse it held cocoa (179,482 lb.), lead (659,836 lb.), pepper (785,600 lb.), rubber (67,036 lb.), sugar (1,344,000 lb.), wool (51,751 lb.) and zinc (120,046 lb.). An investor who held 2% of Commodity Corp...
...years ago the Federal Trade Commission ordered Goodyear Tire & Rubber Co. to stop selling its tires to Sears, Roebuck & Co. at net prices lower than those accorded to other purchasers-a practice which had enabled Sears to undersell its competitors. When the Robinson-Patman Anti-Price Discrimination Act presently was passed, Goodyear abandoned the practice. The Sixth Circuit Court of Appeals dismissed the F. T. C. order on the ground that the controversy no longer existed...
...Batista launched a social, economic "New Deal." On the one hand he amnestied Tyrant Machado, on the other he decided to make payments on the defaulted bonds to bolster Cuba's credit so he could begin borrowing afresh. Last week he had his figurehead President, Federico Laredo Bru, rubber-stamp through congress a settlement which provides: 1) refunding of $40,000,000 5½% bonds, largely held by the Chase interests, with a 4½% issue; 2) payment of $20,000,000 short-term credit owed the Chase; and 3 ) appointment of a commission to haggle over...
Died. Harvey Samuel Firestone, 70, tiremaker; of coronary thrombosis; in Miami Beach, Fla. In 1894, while a buggy salesman, young Harvey met and helped Henry Ford, then devising a chassis for the gasoline motor. Six years later he founded Firestone Tire & Rubber Co., with 17 employes. In three decades he was paying 20,000 workers in the U. S., 20,000 Liberians on African rubber plantations. Last year his company made $9,300,000. Besides Ford, his closest friend was the late great Thomas Alva Edison. A little man, shy, well-groomed, he raised horses, and dairy cows...
...Webb-Pomerene Act was passed which had the effect of enabling U. S. businessmen to join up provided that no restraint of trade within the U. S. was involved. U. S. businessmen joined up both officially and unofficially in many cartels, including those for heavy chemicals, rubber and copper. But steel has refrained chiefly for the reason expressed by onetime President W. A. Irvin of U. S. Steel: "With 49% of the world's capacity, we had at home in 1935 but 35% of the world's consumption. On this basis alone we are justified in seeking...