Word: woolen
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Dates: during 1940-1949
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When American Woolen Co.'s President Moses Pendleton rose before his stockholders in Springfield, Mass, last week, he was wearing such a long face that the stockholders braced themselves for bad news. It came fast enough. The company's new orders, Pendleton reported, had sagged by mid-March to $11 million, less than one-sixth their 1948 level. As the news reached Wall Street, a wave of selling dropped American Woolen's stock 6⅛ points to 28⅝, the lowest since...
...Moses Pendleton, a hulking Connecticut Yankee who had started with American Woolen in 1903 as a clerk, all this sounded like the bad old days. From 1925 to 1946, American Woolen made the goods for one out of every six men's suits in the U.S. But the wool industry, in general, was in a slump until the war years, and American paid no dividends on common stock. Then, as 10,000,000 ex-servicemen rushed to buy their first civvies, American Woolen found itself so prosperous that in 1946 it declared a $12 common dividend, saw its stock...
...England, where the textile slump had already caused some 20,000 to be laid off, there was one bright spot. The U.S. Air Force awarded contracts for $20 million worth of woolen cloth. To get the business, mills had slashed their bids close to cost, in some cases below it. The catch was that the prices, as much as $1.25 a yard lower than those on civilian goods, were sure to increase the demand of retailers for cheaper goods...
...weird creature looked like a bad dream. Dark hair curled dankly almost to his shoulders, and he smiled slyly out of a dirty white face. It was a wintry day, but he was barefooted. He wore long woolen underwear, an outlandish, oversize, red flowered sunsuit and, over it all, two tattered girl's dresses...
...American Woolen Co.'s mill in Riverside, R.I., all the workers knew quiet, unassuming old Albion R. Allen. He had worked up from odd jobs at $6 a week to boss dyer at $60 a week. If he had never made a lot of money, he had always managed to save some of what he made. He bought a home and lived comfortably-by himself, after his wife died. Some of his friends heard that he also dabbled in the stock market, but taciturn old Albion never talked about it. Last July, at 72, he died...