Word: rubber
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Dates: during 1930-1939
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...markets have a normal pattern: ordinarily, a war scare forces stock prices down (because businessmen want cash) .and commodity prices up (because Governments and corporations want essential supplies). London markets ran true to form last week; most commodities rose because of speculative war stocking (including heavy copper and rubber buying by Germany). Instead of following the pattern, U. S. commodity prices marched downhill like stocks (the Bureau of Labor Index remained at its low; Dow-Jones and Moody commodity indices each fell over a point). Something besides war fear was obviously at work...
...Tasmania last week with 225 rubber balloons, large tanks of hydrogen and a short-wave radio receiving set sailed hoary-headed Robert Andrews Millikan, pious physicist of the California Institute of Technology. With him went two brilliant young colleagues: Physicists Henry Victor Neher and William Hayward Pickering. For 18 years Dr. Millikan has carted his balloons through the snowy ranges of the Andes and Rockies, has plunged his flat, metal electroscopes 280 feet into snow-fed California lakes, to measure minute amounts of electricity which may penetrate their surfaces. Purpose of his travels: to learn something about the mysterious cosmic...
Goodrich, when the rubber market collapsed in 1937, took a $5,653,000 inventory write-down which put it $878,580 in the red (even after a $593,249 profit on foreign exchange). But last week, Goodrich's President Samuel Brown Robertson reported sales up 27.4%, a $3,122,728 profit, instead of last year's $209,551 loss...
Last spring Goodrich demanded a 12-14.8% wage cut, compromised on 5.7%. This spring it pruned interest, like U. S. Rubber, by getting a cheap six-year bank loan with which to retire $18,319,200 of 6% bonds...
...Tires and tubes are the biggest part of the sales of the Big Four rubber companies: to U. S. Rubber slightly under 50%; to Goodrich approximately 60%; to Goodyear nearly 75%; to Firestone about...