Word: steeled
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Dates: during 1930-1939
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...wore in his buttonhole-"for optimism"-a red carnation and a wee sprig of heather. Less light-hearted was Lieut. Baskervyle Glegg, whose job it was to take care of such military secrets as have so far escaped espionage. Lieutenant Glegg toted his responsibility in a steel dispatch case fastened to his wrist by a three-foot chain. Lieutenant Glegg was heavy of heart because he was, handcuffed to the future of Europe...
...woodlots found they had a good market for fuel. Electric power derived from Swiss waterfalls was sold to both sides for use in making explosives. Meanwhile, the Swiss did a curious broker business. Germany needed French carbide-cyanamide for saltpeter, French bauxite for aluminum; France needed German iron and steel for emergency railroad tracks and barbed wire entanglements. Swiss dummies arranged the exchange of these commodities, with the tacit consent of the belligerents. The governments did not care whether German soldiers died on barbed wire that originated in a German factory, or whether British ships were torpedoed by German submarines...
Actually, although Eugene Grace did not say so, the auto industry, knowing that steel is overproduced, is demanding further price cuts as an inducement to order enough future steel to keep steel production going. Steelmen were again cursing their favorite customers from Detroit...
...Steel. Big Steel's stockholders heard from Chairman Edward Stettinius much the same story, minus the sugar-coating common dividend. White-haired, springy, no geranium in the profane steel business, young (aged 38) Ed Stettinius is the kind of man who looks his Corporation's troubles in the eye. He announced: 1) that Big Steel would pay its regular quarterly preferred dividend (again better than 75% unearned); 2) that second-quarter earnings ($1,309,761) were about $650,000 more than the first quarter's-but only because the Corporation decided to cut depreciation charges...
Building. Another grave omen for steel production (15% consumed by building) was the fact that last week, engineering construction awards fell 4% below the preceding week, 13% below the (high) corresponding week last year. The big difference was due to the sharp drop in non-Governmental contracts, down 30% from last year. In residential building, F. W. Dodge reported awards for first 22 days of July at the rate of $112-to-$115,000,000 for the month, barely up from June's disappointing $111,000,000, off substantially from...