Word: slump
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Dates: during 1930-1939
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...stenographers took down.) Advanced courses of ten and 40 lessons cost respectively $10 and $50. Sending these out keeps 60 Psychiana employes busy. The firm also markets eleven Psychiana textbooks, costing from $1.59 to $2.50- although Founder Robinson's business aids wondered last week if sales might not slump when Psychiana students form groups, share their books. Biggest Psychiana gross to date...
...slump he charged primarily to the payment of the soldiers' bonus in 1936, which accentuated inflationary sentiment that got out of bounds in the spring of 1937, drove prices and inventories too> high. As contributory factors he mentioned strikes, increased operating costs of railroads, lack of expansion by utilities and, finally, the attempt of the Govern-ment to reduce its contribution to consumer spending power. Said he: "Monopolistically controlled prices and wages which are now too high must be lowered and prices and wages which are too low, in relation to consumer purchasing power, must be raised...
...Automobile factories work on an order basis and so have rather small current inventories of cars. But GM dealers alone, according to President Knudsen, now have some 200,000 cars, 60,000 more than normal. This led Pundit Hugh Johnson to comment last week: "The essential cause of this slump was too much inventory in the whole automobile industry...
...Business in 1937 was good, but the slump cut it down considerably. An artist's wholesaler is his dealer; his market is the public museum, the private collector and, since WPA came, the Government. In the U. S. last year there were 415 deal ers in the fine arts. In New York City at year's end there were more by about 50% than...
...short, these concerns had more goods on hand when the current depression began than they did shortly after th crash in 1929. These figures were presented to President Roosevelt last week as a refutation of the contention of businessmen that fear of New Deal oppression caused the present slump. When a corporation is uncertain about the future, the argument ran, it does not stock up heavily with materials and supplies. Inference was that the 1937 slump was caused not by fear but by overconfidence. Since business economists have generally held that 1937 was not marked by excess inventories, the Government...