Word: steeled
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Dates: during 1930-1939
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Lane-Wells Co., 208,006 shares of common stock at $15.25 a share. Back in Depression I, two middle-aged engineers named Bill Lane and Walt Wells, down to their last $500, perfected a gun with which they could shoot through the steel-&-cement well-casing of dry or abandoned oil wells at levels thought to be oil-bearing. Since then they have turned a pretty penny ($590,814 net in 1937, $310,458 to June 1938). Of last week's issue, floated to pay off loans and finance expansion, 58,006 shares were new securities, 150,000 were...
Youngstown Sheet & Tube Co., sixth largest U. S. Steel producer, $30,000,000 in 4% convertible debentures-$12,500,000 to repay bank loans, $17,500,000 for expansion. The issue, postponed when it was first proposed last October, sold sluggishly. Underwriters headed by Kuhn, Loeb & Co. and Smith, Barney & Co. were said to have nearly $4,500,000 left on their hands...
Four years ago Herbert W. Graham, supervising metallurgist for the fourth largest U. S. steel maker, Jones & Laughlin, persuaded his company to build a miniature steel mill for research. This $175,000 toy mill's open-hearth furnace, ingot molds, soaking pit and rollers produce one-inch square bars...
Last week, as result of experiments in the little Pittsburgh "pilot mill." J. & L. introduced a new process which it hopes will give the company dominance of the seamless pipe market. Hitherto manganese, the element which gives, steel its pliability, has been apt to cluster instead of spreading evenly through the steel; now J. & L. is feeding manganese into the molten metal in carefully measured and shaped lots. The new process, says Metallurgist Graham, is like using bits of quick-dissolving granulated sugar in coffee rather than lump sugar. The analogy would be more accurate, he adds, if lump sugar...
...business generally was down 30% from August 1937 but up 10% to 25% since June 1938; 4) employment increased from June to August in about twice as many places as it decreased; 5) 94% expected a gain in business activity, but there was little enthusiasm. Sample industrial comments: Steel: "Quite sure it will pick up soon." Machinery: "Optimistic, but permanency questionable." Zippers: "Expect business to be good for a year or so until the Government has spent all the money...