Word: rubberizing
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Dates: during 1950-1959
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...businessmen had expected, rubber last week became the first civilian item to feel the pinch of war. The Commerce Department, acting on a plan suggested by the rubber industry, ordered the use of rubber for civilian products cut to 90,000 tons a month for the rest of the year-about 13% below July's consumption. Since natural rubber (at 51? a Ib.) is almost three times as expensive as synthetic, manufacturers are expected to cut down chiefly on natural, thus leave more for the national stockpile. Rubbermen said that consumers would hardly notice...
...three, aluminum is already so short that manufacturers are rationing the metal, and it will probably soon join rubber on the Government's allocation list. Last week, the Government was discussing with Canada's giant Aluminium Ltd. a plan to buy 440 million Ibs. over the next three years, at an estimated cost of $75 million. Whether the deal goes through or not, many an aluminum product will soon disappear from the civilian market...
Radio and television makers, who had been cutting prices only two months ago, were now energetically raising them; Emerson Radio & Phonograph, for example, boosted prices of TV sets by $10 to $30, its second price boost in 30 days. The Seiberling Rubber Co. jacked up tire prices 5% to 7½% for a total of 17% to 25% rise in the past four months. Johnson & Johnson announced an average 6½% boost in wholesale prices for much of its medical supply line, meaning that consumers soon would be paying 55? for a 49? box of Band-Aids...
...month-old pay demands. Big mass-production unions, however, were now getting together charts and statistics to support their claims to lusty wage boosts. Phil Murray's 1,000,000 United Steelworkers were ready to demand a generous increase from the steel industry on Nov. 1; the rubber and textile unions had similar plans. The big (60,000 members) Local 600 of the United Automobile Workers was already talking about striking the Ford Motor Co. unless it comes through with more...
Other big companies followed suit. U.S. Rubber tacked a 25? extra on its regular 75? dividend; International Paper gave its shareholders a 25% stock dividend plus 75? in cash; U.S. Gypsum doubled its $1 quarterly payment. By midweek this flood of dividends had stimulated another upsurge in the stock market. The Dow-Jones industrial average reached 216.97, highest since the Korean invasion, before traders began to cash in some of their profits...