Word: implemented
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Dates: during 1930-1939
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Great decade for the implement maker began in 1920. In that year there were 25,748,000 horses and mules on U. S. farms, which developed 20,970,000 h.p. and supplied 56% of total farm power. At the same time U. S. farmers had 139,000 trucks and 245,000 tractors, developing 7,700,000 h.p. By 1930 the horses and mules had dropped to 19,050,000, competing with 900,000 trucks and 920,000 tractors. The horse horsepower had fallen to 17,171,000 (24%) whereas the truck & tractor horsepower had risen...
...June 1, 1935 an investor could have purchased 100 shares in each of five leading agricultural implement companies for $17,000. Last week he could have sold these shares for $29,000. Even had the investor made his purchase as recently as Sept. 3, the last six weeks would have brought him an appreciation of $4,600. Last week's developments in the agricultural implement boom included...
...city dweller, an agricultural implement may be a hoe or a pitchfork. But the implement industry thinks of itself in terms of reapers, harvesters, threshers, trucks and tractors-particularly tractors. Its business is essentially the mechanization of the farm, the replacement of four-legged power by power obtained from oil and gasoline engines. Its goal is the technological obsolescence of the horse...
...This year it should be in the neighborhood of $8,000,000,000. So the tractor again comes lumbering over the farm horizon. There are no current figures on the truck and tractor population, but horses have dropped to 16,600,000. Sales of farm implements have risen even more sharply than the rise in farm income. From a 1932 low of some $150,000,000 they have more than doubled, until domestic sales for the present year are estimated at $350,000,000-a total almost equal to the domestic sales for 1930. Profits, and even dividends, have returned...
...omits pomp & ceremony, answers the telephone himself, keeps no one waiting, replied to a newsman's request for an appointment, with a wire reading, "Will be in my office from ten to four tomorrow." Smooth-faced, thin-haired, he offers visitors cigars, smokes an old black pipe. No implement man, he leaves routine management to President Max W. Babb and other executives. After he pulled the company through its receivership, grateful stockholders gave him a large bonus and stock-option, which he promptly divided among 100 of his key men. ''No executive is worth the huge...