Word: august
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Dates: during 1930-1939
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...Josef, and thereafter showed more interest in collecting art than in making steel. At 60 he divorced his Baroness and married a Berlin mannequin, who was later severely injured in the motor accident in which Prince Serge Mdivani, ex-husband of Woolworth Heiress Barbara Hutton, was killed. The youngest, August Jr., became embittered at his father and had visions of founding an industrial empire of his own. Father August ran Son August into bankruptcy, and the son retaliated by contributing to the funds of striking workers at his father's plant...
...additional reason for textile activity: England, needing burlap for sandbags, has virtually cleaned out the Calcutta market since the outbreak of war with orders so far totaling 1,000,000,000 bags. The price of raw material for burlap is up from ?18 ($84.24) a ton in August to ?88 (about $344.96). Supplies for the U. S. are limited, not likely to last long. Textile companies are selling low-grade, rough cottons to replace burlap sacks...
...August, zinc sold at 4¾? a Ib. With war, its price rose to 6½? - a rise of 47% which precipitated no end of buying and production for inventory. Then sales began to dry up. Fortnight ago, American Smelting and Refining Co. dropped the price ½? ($10 a ton). Trade pundits guessed that the steel industry-one of the largest consumers of nonferrous metal-would let down production even further after January, and American Metal Market headlined: "The outlook for Metal Prices none too solid...
Trade centre turnover and the Federal Reserve Board production index again moved roughly parallel during the next period in which business began to take hope of autumn improvement. But in August the two parted company for the rest of the year, for in that month the production index practically ceased rising; then the sudden impact of war sent it zooming skyward to a November peak (preliminary estimate: 125, well above its recovery high, just equaling its all-time 1929 peak...
Trade centre turnover did virtually the reverse; prewar, in mid August it climbed to a peak slightly higher than in January. Threat of war sent it skidding. Then during the "war boom" in production, it fluctuated vigorously without making headway and did not equal its prewar peak till mid November-an indication that during this period the volume of transactions in these centres just about kept pace with proportional increase in inventories...