FACTS & FIGURES: Contraction in Crude

FACTS & FIGURES

Too Many Tires. The three biggest U.S. mail-order houses (Sears, Roebuck & Co., Montgomery Ward & Co. Inc., Spiegel, Inc.) cut tire prices as much as 12%. But tires were not the only things catching up with demand in the rubber business. Since rubber was decontrolled on April 1, the price of natural rubber has dropped more than 5¢ a pound to 18½¢. Rubber for delivery in September (futures) dropped to around 16¢, less than the 1939 price. Caught by the drop was the RFC, which bought & sold all U.S. rubber until April 1. It owns 110,000...

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