Word: took
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Dates: during 1940-1940
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...Secretary of Commerce and Federal Loan Administrator. Business thought of Jesse Jones as its friend at court, the Old Deal's borer from within the New. Tactful and unobtrusive, Jesse Jones did not act like a revolutionary. He did not set up any industrial TVAs; he merely "took what the banks left over." By Dec. 1, 1940 he had made commitments of $14,842,000,000 to banks, insurance companies, railroads, industries and other Government agencies. He had in fact usurped the first J. P. Morgan's job as U. S. moneybags...
...industry expanded, but not enough. Soon outsiders were creeping in-with no better results. G. M. went painfully into chicken-feed production with its liquid-cooled Allison. Packard bravely took the $125,000,000 British Rolls-Royce order that Henry Ford turned down. In November, Ford himself, who had earlier talked of 1,000 planes a day, took a $122,000,000 order for Pratt & Whitney Double Wasps. His engineers went to Hartford to find out how to make them...
...November, U. S. railroads had scrapped 54,000 cars, put about as many new ones in service. Meanwhile, the equipment makers, tired of waiting, took new business offered by other sectors of defense. American Car & Foundry filled part of its echoing, long-empty car sheds with $21,500,000 in tank orders, which (along with nearly $30,000,000 of shells, armor plate, etc.) almost put its common back into the black. American Locomotive got $38,000,000 of Army orders, paid off $5 a share on preferred arrears. Even Pullman, ever faithful to the rails, took on some arms...
...news value to others. Mr. Weir is a salesman, and in 1940's market all the salesmen went fishing. It was a productionman's show. Shrewd Old Dealer Eugene Grace opened his mouth just wide enough to lap up the cream of the business. He also took the lead in cooperating with the New Deal's exhortations to expand: $100,000,000 worth, half of which was Government money. On the rest, he got a favorable amortization deal from the Treasury for tax purposes...
...this plant-doubling, Aluminum Co. set aside $150,000,000 of its own money, earned 1940's gold medal for silent, voluntary expansion for the Defense program. Its soft-shirted, soft-voiced management took the Revolution in its stride. When a new TVA appropriation came up last summer. Aluminum men, who knew they would need extra kilowatts if Defense lasted, helped the Administration lobby it through Congress. Yet the year's end found even Aluminum, Co. behind on deliveries. Sadly it prepared an advertising campaign for the peacetime customers it wants to keep. The copy: "If you find...