Word: rubbers
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Dates: during 1930-1939
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...Rubber, in 1938's first half, reported sales of $67,829,786, a loss of $239,213. This year, its sales were up 30% and its profits were $4,465,397. Only $5,208,728 is needed to cover a full year's dividend ($8) on the company's 651,091 shares of preferred. Last week its preferred shares sold at $109½, yielding 7.3% to income-minded buyers who counted on holding it on the possibility that Mr. Davis will offer them a trade-in for U. S. Rubber's common. The common last week...
...only technological house cleaning has put U. S. Rubber in the black at this low rate of operations. Engineer Davis has swung a sharp hatchet cutting Rubber's debt from $101,572,400 to $42,144,000, its yearly interest bill from almost $6,000,000 to well under $2,000,000. Last May he got three insurance companies who own its debt to accept an interest cut from 4¼% to 3⅝% just as though he were hiring the money at the market...
About $21,000,000 of U. S. Rubber's $168,103,594 of assets is invested in East Indian rubber plantations, which assures the company of 20% of its raw material (so long as the Japanese do not grab or blockade the East Indies), partial protection against inventory losses if rubber slumps, extra profits if rubber prices skyrocket...
...great dirigible booster, a chum of Germany's Zeppeliner Dr. Hugo Eckener. In 1936 he wanted to nominate Colonel Charles A. Lindbergh for Vice President on the Republican ticket. Last spring he urged the U. S. to barter (as it soon did) surplus cotton for a stockpile of rubber which a war would shut...
...years President Litchfield has personally done Goodyear's rubber shopping, still gives it 20 minutes to an hour a day. He carries the industry's biggest market basket, for Goodyear buys about 14 2/7% (the United States from 30% to 50%) of the world's crude rubber. With only about 10% of Goodyear's requirements produced by Goodyear's own plantations, he must gamble more heavily than his competitors on war or peace as well as recovery or depression when he goes to market. In the spring of 1937, when commodity prices threatened...