Word: week
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Dates: during 1930-1939
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...cost of freight and insurance) to about 48? per Ib. As the world's biggest user of tin, the U. S. is much interested in its price. When the official pound was dropped to $4.02-$4.06, ?230 per ton became equivalent to only 40? per Ib. So last week Britain killed her wartime rule, which since September had forbidden the sale of tin on the London Metal Exchange at more than ?230 per ton. She also upped world production quotas (British-controlled through the International Tin Committee) to 120% of standard. Britain doesn't mean to have...
...date the U. S. public has seen a good many pictures of war-order planes lined up on fields, and shrouded bomber fuselages being loaded on freighters or falling into harbor mud. But aside from aircraft it has seen little concrete evidence of war orders. Last week (see cut) 478 Studebaker trucks on a Staten Island dock in New York Harbor readied for shipment to the Allied Armies, provided the first good view of nonplane war orders in the flesh...
Another Allied acquisition last week was Edgar Selden Bloom, longtime president of the $281,000,000 A. T. & T. subsidiary Western Electric (which makes 80-90% of all U. S. telephone equipment). Circumstances made it easy for the British Purchasing Commission to obtain the services of a front-rank U. S. businessman as purchasing agent. Though his hair is not white, Mr. Bloom last week turned 65 (Western Electric's retirement age), announced he would retire Dec. 31* and take the British Commission's job as Director of Purchases...
...crop condition of winter wheat last week was 59.4% of normal, lowest on record, and a harvest of only 389,000,000 bushels is expected (down 43.3% from this year) and the price of wheat soared from 87!^ Nov. 28, past the haloed $1 mark to hit a high of $1.05, a 26-month high...
...Neatest financial trick of the week was accomplished by Secretary of Agriculture Henry Wallace: By reducing the Government subsidy on cotton exports, he helped boost the price of cotton. He originally got a $36,000,000 fund with which to subsidize exports. He spent about $32,500,000, paying 1½?a Ib. to subsidize exports of 4,344,434 bales. To conserve the balance of this fund, the subsidy was cut in half, midnight, Dec. 5. A few days later, it was cut to 2/5?, again last week to 1/5?. Anxious to share in the Government subsidy before...