Word: steeled
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Dates: during 1930-1939
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...first day. Like A. F. of L., C. I. O. declared for a Japanese boycott, condemned the National Labor Relations Board. It unanimously resolved that contracts were sacred. It announced that it had spent $1,745,968 in the past 16 months, more than $900,000 on the steel strike alone. But just as C. I. 0. was A. F. of L.'s principal business, so A. F. of L. turned out to be the most important concern of C.I.O...
Some three miles from downtown Pittsburgh, on the Monongahela side of the city which is darkened on days of east wind by smoke from the steel mills in the valley, the pseudo-Renaissance building of the Carnegie Institute stands, blackened by 40 years. There last week critics of art, newspapermen and Pittsburgh's gentlest people assembled one evening to attend a brief ceremony in memory of Andrew Carnegie, then to crowd murmuring up the Institute's broad marble stairs into 17 galleries hung with 407 paintings by artists of 13 nations. The occasion was the opening...
...account for the market's slide, businessmen have talked more & more of "a major business recession." Judged by steel production, which was off almost 40 points since the spring to 55% of capacity, and by the New York Times business index, which fell below 1936 for the first time this year, this view last week appeared well founded, but third-quarter earnings have been generally awaited as the ultimate index of current business...
Earnings statements last week were still too scattered to be conclusive and the market slide was not to be stopped so easily. It broke to the lowest lows since 1935, then continued dizzily downward driving Dow-Jones industrial averages some ten points lower to 125. U. .S. Steel led the way, going to a new bottom of $61.50-less than half of the year's high ($126.50). New York Central fell to $17.50, lower even than in 1932 when Delaware & Hudson's shrewd President, Leonor F. Loree, thought it a great bargain and bought his road...
...that is simply because manufacturing companies are still filling orders born of summer optimism. Car loadings are just holding even, and after the unusually large farm crops have been moved there seems to be nothing on the horizon which will keep the freight cars of the country partially loaded. Steel capacity is far down, and the building industries, backbone of the new prosperity in England, are beginning to slide back again after only a moderate rise. All these are but isolated and striking instances of the fact that our brief moment of prosperity is over and that...