Word: scrapped
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Shortage of scrap put the screws on the whole U.S. steel industry last week. Bethlehem's President Eugene G. Grace gloomed that the situation was "very, very serious," that Bethlehem had been forced to import some of its scrap from Mexico and Cuba, that it now had only two weeks' supply on hand. A Wheeling Steel Co. plant in Portsmouth, Ohio cut production 1,300 tons a week because of the shortage. Cleveland mills were able to buy only 65% of their requirements, were rapidly exhausting their reserves. At week's end Iron Age made a somber...
...reason for the shortage (blamed specifically by Mr. Grace) is that the U.S. shipped 8.222,259 tons of scrap to Japan from 1936 to 1940 (when exports were finally prohibited in October). That scrap is gone forever. Another is the fact that railroads are patching up more old freight cars (ordinarily a big source of scrap), are using many a junk-worthy car for storage of coal. But the chief reason is that the nation's steel mills, breaking one production record after another, are now using scrap at the rate of at least 30,000,000 tons...
...total Japanese imports the U.S. normally supplies over 30%, the British Empire about 20%. Already Japan's industry has been slowed down by stoppage of U.S. shipments of scrap, machinery and scarce defense metals. Moreover, the biggest customers for raw silk (see p. 61) and other exports through which Japan gets foreign exchange are also the U.S. ($105,311,000 last year) and Great Britain. In the early part of World War II, Japan found a profitable customer in Germany, which sent its No. 1 traveling salesman, Helmuth Wohlthat, to Tokyo this spring to try to streamline Japanese industry...
...reversed telescope: Cossack fighting was an affair of horses, hard riding and sabers. But as a plain story of a man, a family, and a people during war, this novel has the high, nerved vividness that such Soviet films as Shors have given to that same passionate, fading scrap of history...
DEATH AND TAXES - David Dodge -Macmillan ($2). A huge tax refund on a dead beer-baron's estate motivates the murder of an income-tax expert. The expert's pardner, who likes liquor, ladies and a good scrap, helps California police clean up a tricky case. Hard-hitting and well-knit - the "find" of the month...