Word: exported
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Dates: during 1940-1940
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Into a Rotary luncheon in Atlanta bounced Businessman James Aloysius Farley, chairman of Coca-Cola Export, piped: "I'm no longer selling stamps or looking for votes...
...gloom. Around Labor Day 1939, Business had begun to prepare for big orders. Assuming that World War II would resume where World War I had stopped, manufacturers started buying frantically from each other in order to be ready. The FRB production index headed straight up; then-when the export orders failed to materialize-it dived. So 1940 opened to the twinge of a familiar business headache: inventory trouble, just like stagnant...
Suddenly everything changed. First Finland, then the rest of Scandinavia was blocked off. The price of unbleached sulfite pulp in the U. S. jumped $6.60 a ton. Two months later, with Holland, Belgium and France gone, and Italy in, the U. S. had lost an export market (including Scandinavia) amounting to $568,000,000 in 1939. The stockmarket broke 35 points from May 1 to June 15, lay paralyzed with fear. But the U. S. swung into the greatest production boom in its history...
...Agriculture is the one sector of the U. S. economy that depends heavily on exports. Farm crops were also the chief U. S. export which, in 1940, the rest of the world could not buy. Many farm surpluses in 1940 were higher than ever; for farm prices, "parity" remained just a slogan. Yet farm income for the year was estimated at $9 billions, highest since 1937. Thanks were due less to the production boom than to Government...
...year's end the industry had expanded its floor space 30%. But its backlog was growing faster, was equal to about a year of capacity operation. On Dec. 4 a large new list of machine tools was subjected to export priority control. Bill Knudsen scolded the industry for not doing more subcontracting. Meanwhile, investors showed less interest in machine-tool stocks than they might have if their low capitalization had not marked them for plucking by the excess-profits...