Thursday, September 17, 2009

government seizure

Advertisement in the 1943 VMI Bomb

Military schools, absorbing about two-thirds of the cloth produced, provided the basic prop upon which the mill rested. Only one crisis of sizeable proportions occurred during the war years regarding this market. That resulted from the government's seizure of the wool supply shortly after school contracts had been signed early in 1918. The sudden spurt in wool prices threatened for a time to wipe out profit margins. But in spite of this and the wage increases of that year, the company managed to fill its orders and earn a substantial profit.--Harry Poindexter



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