Word: tiring
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...that, in Liberia, Mr. Barclay and Mr. Mitchell are no longer on speaking terms. All official communications from the U. S. and Liberian Governments on the subject of Liberia's decision to suspend payments on a $2,250,000 loan from Finance Corp. of America (subsidiary of Firestone Tire & Rubber Co.) had to be relayed through the French Government...
Wanting a little more trade for himself, a retail tire dealer in Cleveland shaded prices slightly one day fortnight ago. Another dealer learned about it, shaded his prices a trifle more. The movement spread quickly throughout the city. By evening tire prices had been slashed as much as 56%. All dealers did a roaring but highly unprofitable business as private owners and truck fleet operators jammed in to buy tires for the next two or three years. Next day the big Akron rubber companies wired stern orders for the skirmish to cease. Back up went Cleveland's tire prices...
Last week not a small dealer but Firestone Tire & Rubber Co., one of the ''Big Four," slashed list prices 5% to 10%. It was the opening salvo of another major price war for the already war-ravished tire industry. The reason given was, as usual, the fact that the mail order houses had cut first in their spring & summer catalogs, out last month. Goodyear, Goodrich, U. S. Rubber and smaller Seiberling met the cut but only after cursing Firestone for upsetting the applecart once again...
Pointing out that mail order prices affect less than 3% of the replacement market, Vice President Robert Smith Wilson of Goodyear growled: "That the remaining 97% of the tire market should be disrupted under such reasoning is a matter to be greatly deplored." President James Dinsmore Tew of Goodrich argued: "In our opinion present economic conditions do not justify any reduction . . . and we cannot believe that any benefit to employes, security holders or the general public will result...
...General Tire 6 Rubber Co., always the envy of the rubber industry, reported a $202,353 profit for the fiscal year ended Nov. 30. In the previous year it lost $444,063. This year's profit was after all inventory write-offs and despite a 20% drop in sales to $16,679,000, largely attributed not to a slump in volume of tires sold but to the decline in tire prices. Relatively small, efficient, and under the very personal management of Founder-President William O'Neil, General Tire is the only leading rubber company that had paid back...