Monday, Sep. 22, 1947
Facts & Figures
New High. Automobile production in the U.S. and Canada reached a new postwar high of 109,123 cars and trucks, up 20,235 over the corresponding week last year. With 3,334,523 cars and trucks produced in eight months this year (against 1,849,475 last year), the automobile industry stood a good chance of having its second best year. The best: 5,621,715 units in 1929.
New Come-on. Sagging fur sales caused Manhattan's Bonwit Teller store to try a new selling come-on. In full-page newspaper ads, it promised refunds to match any congressional reduction in the 20% fur tax before Feb. 1.
Union Shoppers. Preston Tucker, designer of the rear-engined Tucker auto, announced that he had, cleared $15,007,000 on the sale of Tucker Corp. stock, now had enough cash to keep his lease on the surplus Chicago Dodge plant (TIME, July 7). Among the major investors was the U.A.W.-C.I.O., which plunked in $200,000.
Green Light. ICC allowed Railroader Robert R. Young to divest his Chesapeake & Ohio Railway of control of the New York, Chicago & St. Louis (Nickel Plate) road. He will distribute C. & O.'s 192,400 Nickel Plate shares to C. & O. stockholders as a stock dividend. In permitting Young to shed control of a road that competes with the New York Central, ICC removed one more obstacle to Young's aim to control the Central.
Helicopter Cab. The Yellow Cab Co. of Cleveland got the first franchise for a regular scheduled helicopter taxi service. (Several charter taxi services are already operating.) Yellow Cab's projected helicopter runs will be between Cleveland Municipal Airport, downtown Cleveland and two suburban areas.
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