MACHINE TOOLS: Warner & Swasey for Sale

When National Defense talk began in Washington, the first industry to be branded a "bottleneck" was machine tools. In a normal year, most U. S. industrial production—notably the $2-3,000,000,000 a year of automobiles—could not be turned out without $100-150,000,000 worth of machine tools. Key to mass production, the machine-tool industry consists of some 800 small family-owned units wherein mass production plays little or no role. Few machine-tool companies are big enough to have a listed stock.

Last fortnight one of the oldest and fattest of these private handicrafters came before the...

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