Business: Ram's Head Changes

Standing head & shoulders above its competitors is American Woolen Co., whose normal yearly sales volume is $100,000,000, chiefly in Ram's Head Fabrics. No other woolen-worsted company in the world approaches American's size, but its dominance is not a prosperous one. Long before general Depression began, American Woolen was having its depression. In 1923 the company earned $6,666,000, not much more than it had made in 1922 and 1921. But in 1924 it lost $6,953,000; in 1929 it lost $4,228,000.

With American Woolen's 1924 reversal came the story that stockholders were disgruntled with...

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