Word: rubberized
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Dates: during 1930-1939
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...worked in steel, automobiles, rubber, etc., management paid all the costs. "Employe representatives" did good work for group health programs, plant safety, sports, etc. but rarely went to bat on basic questions of wages or hours. This saved employers trouble but it was not a cheap form of insurance. Even in companies (Bethlehem included) where E. R. P. worked best, it cost employers time and money to keep it going...
...Seiberling founded Goodyear Tire & Rubber Co. in 1898, was ousted in 1921 by Dillon, Read & Co. He immediately started Seiberling Rubber Co., in six years boosted it from 330th to seventh place in the industry. Last week, in Adrian H. Muller & Son's musty old auction rooms at No. 18 Vesey Street, Manhattan, he gave an exhibition of his financial talents...
...shrewd old "F. A.," with Cleveland Banker Cyrus Eaton and Oil Tycoon Edgar B. Davis, formed Ohio Goodyear Securities Co., a personal holding company, one of whose assets was a big block of Goodyear Tire & Rubber common. Cyrus Eaton presently took this Goodyear stock and put it in a new corporation known as Goodyear Shares, Inc., in which F. A. had an equity. In 1930, spotting trouble ahead for Goodyear, he swapped this equity for 64,554 shares of U. S. Rubber Co. common. Bulk of this latter stock, which was charged off to him at $18 a share, next...
What with depression, Seiberling Rubber still owed $2,350,000 in January 1937. But the banks by the terms of the indenture could not liquidate the U. S. Rubber collateral without first liquidating Seiberling Rubber Co. To stave off this threat, F. A. Seiberling arranged for Ohio Goodyear to take over the notes, a bookkeeping transaction to which the banks consented because the indenture was rewritten with the U. S. Rubber stock as first collateral. Edgar Davis consented because the banks agreed to lend Ohio Goodyear $500,000 for an oil venture Davis was interested...
...time he races, an extra $1 every time he wins. To his agent he must pay a similar sum plus 10% of his 10% share of the winning purse. A jockey also pays for his saddles (he usually owns two or three of varying weights), whips, boots, breeches and rubber reducing suit-if he has to keep his weight down. Next to losing their bank rolls, jockeys dread gaining weight. Longden and Adams are both so small (105 Ib.) that they need not diet, but most riders count their calories, knowing well that a heavy rider...