Word: years
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Dates: during 1940-1949
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Rosy Future. Actually, in a free and once more competitive economy, Big Steel had a perfect right to raise its prices. But with the steel shortage over, it might not get away with it. Big Steel's customers certainly would not like the $80 million-a-year increase in their steel bill, especially in the light of steel profits. In the first nine months of 1949, U.S. Steel netted $133 million, 50% more than in the same period in 1948. And so far as Ben Fairless could see last week, the future looked rosy. Operations of Big Steel...
...higher costs? Two freight-rate increases had boosted the cost of steel's raw materials; another boost in coal prices was in prospect. But scrap, which is a major cost in making steel, was selling at an average of only $27.25 a ton, compared with $43 a year ago. As for the new pension program-U.S. Steel officials could not, or would not, say what it would cost the company in the first year (guesses by outsiders ran as high as $80 million a year...
...well. Kurth's dozen-odd enterprises employ 3,250, indirectly support 50% of Lufkin's population. But the Kurth achievement that most East Texans boast about, and the one that is of prime importance to the Southern economy, is newsprint. Set up only nine years ago as the South's first newsprint producer, Kurth's $18 million Southland Paper Mills, Inc. last week was rolling out enough newsprint (132,718 tons last year) to supply some 70% of Southern newspapers, and was grossing $15 million a year...
...make them bigger. Since his Lufkin Foundry & Machine Co. depended on outside companies for its castings, Kurth set up Texas Foundries, Inc. as his own supplier. It soon became the biggest Southern producer of malleable iron castings. The two companies now have combined sales of some $17.5 million a year...
Green Thumb. He also campaigned tirelessly to educate Southerners in the economic importance of growing timber on submarginal Texas farm land. While his own companies planted more than they cut on their 250,000 acres, they gave farmers about 2,000,000 pine seedlings a year to rebuild depleted timber stands. With his newsprint plant furnishing an expanding market, Kurth estimates that farmers can get $5 to $7 an acre every year from timber alone, and "you don't need a subsidy or price support program...