Word: slumping
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Dates: during 1940-1949
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...This month the Government predicted a whopping 15,169,000-bale cotton crop. On the New York Cotton Exchange, cotton futures promptly slid off $4.50 a bale. Print cloth went to 25? a yard, off 13? from its year-end high, and there were few buyers. Some thought the slump on the Cotton Exchange would bring down textile prices further. Over & over, customers told Worth Street factors: "We're waiting for lower prices...
Between the buyers' and the sellers' strikes, Worth Street has suffered its worst slump in years. A few optimists point out that a similar slump last year ended quickly when retail stores began to lay in winter stocks. Others take a more serious view. Because cotton mills abroad are producing again, exports are off 10% from 1947's record high. At home the first flush of the postwar demand for cotton goods has worn off; New York bargain basements, for instance, are selling shirts for $2.95 which last year brought nearly twice as much. To many...
...nation's taxicab business has slumped as much as 25% below the normal summer slack. Parmelee Transportation Co., biggest U.S. company, with 4,167 cabs in New York, Chicago, Pittsburgh and Minneapolis, figures that this year's net may go as low as $500,000 (its boom-peak net: $2,000,000 in 1946). For many a smaller company, trying to meet more than doubled postwar costs on prewar fares, the slump means...
Winter Week. In the middle of the hot weather slump, when 52nd Street nightclub owners looked glumly at rows of empty tables and cried the blues, Nick's joint on West Tenth Street was having what the surprised musicians themselves called a "winter week." The iron-man stunt was giving Bobby (who, like all hot jazzmen, is an authority on hard times) some memorable paydays. ABC pays him $165 a week for a 40-hour week for 20 hours of actual playing. Grace Rongetti, Nick's widow, pays better than that, complaining only when Bobby gets tied...
Some used-car dealers were already beginning to feel a slump. Swamped by offers of new cars (many from owners who could not keep up the payments), Rochester (N.Y.) lots were buying cars for $100 to $300 less than a month ago, despite new markups at the factories. On Detroit's Livernois Avenue, center of the used-car market, one dealer offered a month-old Lincoln coupé, which he bought for $3,559, for $3,350-with no takers...