Word: steeled
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Dates: during 1930-1939
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...Treasury's inner circle reputation as a prophet when it announced that factory employment for May was off 1.1 points more than seasonally (to 90.1 on its index). Many a U. S. businessman saw a patch of blue sky early in May, when there was a flurry in steel (TIME, May 22), but last week it seemed only to have been a hole in the overcast...
...Before the July 4 holiday or the Danzig crisis could be blamed, Bethlehem Steel shut down two furnaces at its mammoth Buffalo (N. Y.) works...
...Steel prices wobbled as all companies cut sheet prices $8 per ton to the low reached in the brief price war two months ago. Steel estimated that the price cuts would cost the industry somewhere between $13,200,000 and $50,000,000, reported that one typical producer (on 50% operation) was losing $12.50 on every ton of sheets he turned out to sell...
...Until last week Wall Street wags were describing 1939's spring bull market as the one that walked away from the steel stocks and left them right where (some below) the last bear market had flung them. Last week the market ended its sorriest month in 18 years (11,967,390 shares traded), was slipping back toward depressed steels: after the rail stocks failed to Dow-confirm June 10's industrial high of 140.14 (TIME, June 26), the industrials had fallen more than 10 points...
...after raiding nine Cocke County stills, received a tearful letter: "In rades made last two weeks you got our forth licker, one forth our pots and barls. So plees let us alone awhile til we get good start again. We want work. Wer ashamd to beg. Wer afrade to steel. We can't starve. So plees let Cocke and Cosby rest 10 days til we get started again...