Word: contract
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Said unhappy "Hap" Arnold: "We have not placed the contracts [for 4,200] . . . due to the fact that the industry feels that there are so many uncertainties, unknown quantities that they have to contend with. . . . The Vinson-Trammell [profit limitation] Act has something to do with it; taxes; uncertainties with regard to labor. ..." Said Rear Admiral Towers, recalling that Congress had cut the allowed profit on Navy contracts and Army aircraft contracts from 12 to 8%: "There are two reasons. The reduction in . . . profit . . . has made it very difficult for the aircraft manufacturer to place subcontracts [which] work out about...
...order for smokeless powder to be turned out by Hercules Powder Co. (operators of the famed Charleston, W. Va. nitro plant of 1918) from a mill still to be built near Radford, Va. Only the week before the Army had signed a $25,000,000 contract with Hercules to put up the plant and operate it on a cost-plus basis. It was the second construction contract to be let in 1940's defense emergency for a powder mill to be operated by private industry, owned by the Government. Du Pont had signed one like it last month...
...Hercules and Du Pont contracts were only a start. Before this empty breech of U. S. defense is properly loaded, Major General Charles Macon Wesson, Army Chief of Ordnance, has many an other contract to allot. Congress has already appropriated and authorized $244,000,000, is now ready to lay out $700,000,000 more for powder plants, for great factories where smokeless and high explosive will be loaded into small-arms ammunition (pistol, rifle, machine gun), aerial bombs, artillery shells. The Army has laid out plans for building 33 plants in five U. S. areas, has specified that...
...given to overheating, hard to maintain. But his mild remarks disclosed that the Marine Corps was doing some rifle shopping on its own account, had already given a preliminary look at a new semi-automatic put out by Winchester Repeating Arms Co. (which is now making Garands under Government contract). This week the new Winchester was ready for tests, to be conducted for the Marine Corps by the Army Ordnance Bureau...
...buying increases, R. R. C. can still protect itself. When the price stays above the legal 20? for a reasonable period (two or three weeks) R. R. C. may invoke its contract with the Dutch-British rubber cartel, International Rubber Regulations Committee, which controls 97% of the world supply. I. R. R. C. will then be obliged to boost its quotas to the U. S., send the price down to where R. R. C. can enter the market again. This week, unscared R. R. C. announced that it would buy another 180,000 tons of rubber next year...