Word: meade
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Dates: during 1940-1949
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...Grey, intense Lieut. General Brehon Somervell, boss of the Army Service Forces, made headlines for two days. He warned the Senate's Mead Committee of a potentially dangerous shortage in military production. In Manhattan, he exhorted N.A.M. conventioneers (see BUSINESS) : "American industry and American workers must rededicate themselves, here and now, to an upsurge of production...
...hope came from Washington. Discovering that even Capitol restaurants were out of cigarets, the Senate's Mead Committee met in a smokeless room, decided to send investigators out. And this week the Federal Trade Commission announced it also would investigate the shortage. All over the U.S. the cigaret gags were getting bitter. Sample: "Ask the man who owns...
...probably know most about the problem of selling the Government's future surplus war plants told the Mead Committee last week why they cannot sell the plants right now. Tall, drawling Sam H. Husbands, 53, ex-Florence, S.C. banker, is president of the Defense Plant Corp., which owns about 1,000 Government-built plants, which cost some $6.8 billion to build, including such giants as Willow Run. But most of the talking was done by Hans A. Klagsbrunn, 35, executive vice president and DPC counsel...
Klagsbrunn told the Mead Committee that no plant can be tagged for sale today because tomorrow the military may need it again, to produce some newly critical item. Several plants which were "surplus" a month ago are already being put back into war production...
...point up a reason for all this caution, the Senate's Mead Committee last week came up with a first-rate example of the enormous profits which private speculators might make in surpluses. The Army decided to sell 22,000,000 flashlight batteries-for which it had paid 7½? each-for 4? apiece, although the ceiling price on such batteries is 10?. Thus, buyers might clean up as much as $1,000,000 by reselling the batteries. When the Senate Committee stepped in, the Treasury hastily canceled the sale...