Word: rubberizing
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Dates: during 1950-1959
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...materials. They were already so scarce that new war orders were bound to force some cutback in civilian production. The word from Washington was that President Truman, in his speech to Congress, would ask for powers to allocate steel, crude rubber, manganese and tin to manufacturers with war orders. And the President also wanted powers to tighten credit (e.g., charge accounts, installment buying, etc.). But industry got assurance that the President would ask only as much power as the emergency requires...
...Herbert Hoover had set up RFC to lend $1.5 billion to ailing banks and industries. Then the Democrats fattened and pampered it like one of their own alphabetical children, bolstered its lending power to $18.8 billion, and put it into the wartime business of running rubber plants, Central American fiber plantations and steel mills...
Hardly had the Post got the word "emergency" out of its mouth before the RFC put it to use. At week's end, it decided to reopen three of its wartime synthetic rubber plants (see BUSINESS). War in Korea had probably prolonged RFC's life as an agency, but its power to make business loans was still in question...
...Need. Yet consumers still rushed to stock up on items which they feared might be cut back by war production; motorists grabbed up tires so fast that some U.S. tiremakers had to put their dealers on allocations. As General Tire & Rubber Co. explained in newspaper ads, the rush was needless. There was no real shortage; the rubber companies were at peak production and in May had hit a new record of 7,369,190 tires...
What did worry tiremakers was the possibility that Far East sources of natural rubber might again be overrun by enemy invaders. This fear last week drove the price of July rubber futures up to 35½ a lb., the highest in 22 years and more than double the price of six months ago. But the U.S. acted swiftly to guarantee adequate stockpiles of synthetic rubber. At the urging of rubber manufacturers, the White House ordered back into production three of the Government's twelve idle wartime synthetic-rubber plants: a butyl plant at Baton Rouge, La., a butadine plant...