Word: woolens
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...last week the turn seemed to have come. Pub-licker Industries, Inc., a big U.S. maker of industrial alcohol, thought demand had picked up enough so it could raise prices 8½? to 11? a gallon. Even in textiles, softest of the soft spots, there was some hardening; American Woolen Co. also raised prices on 14 of its woolen-type fabrics for women's wear. In short, some industries had already gone through their own private recession and were getting back to something like normal. Actually, a good deal of the buying slump had come because manufacturers were using...
...last week for his first look at a strange land; Pastor Salau is a missionary among his own people of the Solomon Islands. Above his grave, calm face his hair stood straight up in a shock of black fuzz; he was dressed in a blue tweed jacket and blue woolen skirt with red belt, black oxfords and black, knee-length stockings. He was not prepared for the reporters and photographers who found him aboard the liner Mauretania, on a trip that is taking him around the world. The newsmen persuaded him to take off his jacket and western shirt...
...mills furloughed men in rotation. For the weeks of furlough, each worker marched over to the unemployment office and drew unemployment pay from the state. (Except for the first layoff each year, Massachusetts does not require a waiting period.) Explained Al Bradstreet, a weaver in American Woolen's Wood mill: "I'm off one week in three. When I'm off, I get $25 plus $2 for each of the three kids. Nobody wants this to go on, but oh boy, things would really be bad if they just laid off without the stagger...
...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...