Word: tobaccos
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Dates: during 1930-1939
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...advertise. Only products personally approved by Engineer Hogan himself are permitted the use of his air waves, and their announcements are held to a strict standard of dignity and terseness. Typical sponsors have included Random House, the Oxford University Press, the Theatre Guild. Martinson's Coffee, the American Tobacco Co. One of them, the Book-of-the-Month Club, apologizes for taking up the listeners' valuable time. Despite these restraints, WQXR has turned into a sound moneymaker, has already grossed some...
...Tobacco inventories are bought three years in advance so they can age properly and thus they require a sizable investment. Philip Morris at first got such working capital by borrowing, not by floating securities. But inevitably, as its inventories swelled to a $20,000,000 figure, bank loans became too cumbersome, particularly on top of the $700,000 expense of building a slick new factory, opened last month. So last week with its 519,151 shares of common selling at $95 (on earnings of $10.91 last year, current dividends so far for this year of $5.25)-with its English Blend...
...Wall Street this easy sale, in a period when stock flotation had never been so difficult, produced two reactions. Financial World dubbed Philip Morris "a coming blue chip." Cynical tobacco stock specialists, however, were still unconvinced. Noting that more than two-thirds of Philip Morris sales are urban, they wondered whether, with its sophisticated slant, it would ever have truly national appeal. And they shook gloomy heads over the action of New York City (where Philip Morris sells one-fifth of its smokes) in imposing a 1? a package cigaret tax two months ago. Other cigaret companies could pass this...
...price. This price stability assures dealers their approximate 2? per pack profit margin with Philip Morris and they tend to push it harder, give it better displays, etc. Conversely, with its prices rigid at a high level, Philip Morris has more money per cigaret to spend on tobacco and manufacture. Even so, it probably could not have gone over but for two circumstances at its birth. After years of pushing Melachrinos, Rube and Mac had first-name friendships in most of the nation's tobacco stores. Dealers were told that the new cigaret was Rube...
Though ranked among the Big Four, Old Gold was always a peewee in comparison. Whether the new member of the Big Four can do better, can overtake the 38-45,000,000,000 sales of each of the big three, the tobacco industry waits to see. With June sales totting up to the biggest total of any month in his company's history, President Chalkley went home last week to his one-acre place at Port Washington, Long Island, to enjoy a weekend's sailing in his 23-foot sloop, still trusting in partly the rum, partly...