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Word: tiring (lookup in dictionary) (lookup stats)
Dates: during 1920-1929
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Outstanding among exceptions to the rule of prosperous, optimistic midyear statements were the balance sheets of U. S. automobile tire companies. Sales figures, if not exuberant, were satisfactory. But income figures were disheartening. Net income of the "biggest" Goodyear Tire and Rubber Co. dropped from $6,364,005 (Jan.-June, 1927) to $3,074,200 (Jan-June, 1928). For B.F. Goodrich Co., a profit of $5,813,501 turned into a deficit of $1,574,889. Fisk Rubber Co.'s huge deficit...

Author: /time Magazine | Title: Business & Finance: Tires | 8/27/1928 | See Source »

Causes of this unhappy situation were not obscure. In December, 1926, leading U. S. tire manufacturers formed the American rubber pool, proceeded during the next year to accumulate a great supply at prices ranging from 35 to 41? a pound. But last February, the price of crude rubber broke sharply, fell to 26.9? in March, 17.2? in April, stood last week just under 20?. Large tire companies took a staggering loss on their inventories. Tire prices fell to meet fierce competition from mail order houses and small dealers who had not accumulated a rubber reserve...

Author: /time Magazine | Title: Business & Finance: Tires | 8/27/1928 | See Source »

Chief among these competitors were the houses of Montgomery Ward & Co., Inc., and Sears Roebuck & Co. Each announced drastic price cuts. Each advertised huge mileage guarantees. Montgomery Ward's "Super Service Riverside" tire carries a guarantee of 30.000 miles. Sears Roebuck gives its "Super Allstate" an assured life of 25,000 miles, proclaims: "No other manufacturer has dared to write such a guarantee," declares itself "America's Largest Distributor of Tires." But Montgomery Ward counters with the slogan. "World's Biggest Tire Dealer." The tire war seemed localized to the two principal mail order houses. While...

Author: /time Magazine | Title: Business & Finance: Tires | 8/27/1928 | See Source »

...last week, tire manufacturers took vigorous action to meet the menace of the mail order houses. Two months ago, the dormant Rubber Institute was brought to life under the directorship of onetime Prohibition Commissioner Lincoln C. Andrews. Its first arresting act was the insertion, last week, of large advertisements in 400 daily newspapers. Speaking for 44 companies, Tsar Andrews pungently flayed the mileage guarantee. This practice, so profitable to mail order houses, was branded thus...

Author: /time Magazine | Title: Business & Finance: Tires | 8/27/1928 | See Source »

...Rejected by standard tire companies as unfair and uneconomical. . . . Abused by unscrupulous drivers. ... An unfair sales inducement rather than a protection for the buyer. . . . There are no miles in a bottle of ink. You cannot put mileage into tires by written guarantees-it must be built...

Author: /time Magazine | Title: Business & Finance: Tires | 8/27/1928 | See Source »

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