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United States Rubber Company

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80-571: The company formerly known as the United States Rubber Company , now Uniroyal , is an American manufacturer of tires and other synthetic rubber -related products, as well as variety of items for military use, such as ammunition , explosives , chemical weapons and operations and maintenance activities (O&MA) at the government-owned contractor-operated facilities. It was founded in Naugatuck, Connecticut , in 1892. It

160-487: A dollar are emitted as Federal Reserve Notes , disregarding these special cases: In the 16th century, Count Hieronymus Schlick of Bohemia began minting coins known as joachimstalers , named for Joachimstal , the valley in which the silver was mined. In turn, the valley's name is titled after Saint Joachim , whereby thal or tal , a cognate of the English word dale , is German for 'valley.' The joachimstaler

240-757: A dollar, and dimes at 0.100 of a dollar. After the adoption of the United States Constitution , the U.S. dollar was defined by the Coinage Act of 1792 . It specified a "dollar" based on the Spanish milled dollar to contain 371 + 4 ⁄ 16 grains of fine silver, or 416.0 grains (26.96 g) of "standard silver" of fineness 371.25/416 = 89.24%; as well as an "eagle" to contain 247 + 4 ⁄ 8 grains of fine gold, or 270.0 grains (17.50 g) of 22 karat or 91.67% fine gold. Alexander Hamilton arrived at these numbers based on

320-648: A few cases, U.S. coins) used in circulation. The monetary policy of the United States is conducted by the Federal Reserve System , which acts as the nation's central bank . As of February 10, 2021, currency in circulation amounted to US$ 2.10 trillion , $ 2.05 trillion of which is in Federal Reserve Notes (the remaining $ 50 billion is in the form of coins and older-style United States Notes ). As of September 20, 2023,

400-545: A grain of pure, or four hundred and sixteen grains of standard silver. Section 20 of the Act designates the United States dollar as the unit of currency of the United States: [T]he money of account of the United States shall be expressed in dollars, or units...and that all accounts in the public offices and all proceedings in the courts of the United States shall be kept and had in conformity to this regulation. Unlike

480-492: A hostile takeover by financier Carl C. Icahn . At the time, Uniroyal was the fifth-largest tire company in the country. To help pay the nearly $ 1 billion in debt incurred in the leveraged buyout, the company sold its Uniroyal's Chemical subsidiary to Avery Inc. – a producer of agricultural chemicals , industrial chemical additives and specialized rubber and plastic products – for $ 760 million in May 1986. The remaining tire operation

560-688: A landmark gender discrimination case, Chrapliwy v. Uniroyal , under Title VII of the Civil Rights Act of 1964 . The class action lawsuit was settled in favor of the plaintiffs, but the issue of attorney fees was decided by the United States Court of Appeals for the Seventh Circuit in 1982. In 1985, Uniroyal was taken private by its management and the New York investment firm of Clayton, Dubilier & Rice to prevent

640-575: A limited extent" as money. Treasury Notes were again printed to help resolve the reduction in public revenues resulting from the Panic of 1837 and the Panic of 1857 , as well as to help finance the Mexican–American War and the Civil War . Paper money was issued again in 1862 without the backing of precious metals due to the Civil War . In addition to Treasury Notes, Congress in 1861 authorized

720-707: A rubber boot was fitted onto the leading edge of a propeller. The boot contained wires that conducted electricity to heat the edge and break-up ice. In 1958, Uniroyal entered into a partnership with the Englebert tire company of Liège , Belgium , which became known as Uniroyal Englebert Deutschland AG. In 1963, the name was shortened to Uniroyal-Englebert, and in 1967 it became Uniroyal along with all company divisions. Uniroyal sold this division with its four factories in Belgium, Germany, France and Scotland to Continental AG in 1979. Continental continues to market tires under

800-656: A series of mergers with other companies in Ontario and Quebec became the Canadian Consolidated Rubber Company Limited. After another series of mergers, the company became the Dominion Rubber Company Limited in 1926. It produced footwear under a variety of brand names, coated upholstery fabrics, mechanical parts, industrial chemicals and vehicle tires. In 1966, after four decades as Dominion, the company

880-678: A series of revisions to the gold peg was implemented, culminating in the Nixon Shock of August 15, 1971, which suddenly ended the convertibility of dollars to gold. The U.S. dollar has since floated freely on the foreign exchange markets . Congress continued to issue paper money after the Civil War, the latest of which is the Federal Reserve Note that was authorized by the Federal Reserve Act of 1913 . Since

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960-487: A treasury assay of the average fine silver content of a selection of worn Spanish dollars , which came out to be 371 grains. Combined with the prevailing gold-silver ratio of 15, the standard for gold was calculated at 371/15 = 24.73 grains fine gold or 26.98 grains 22K gold. Rounding the latter to 27.0 grains finalized the dollar's standard to 24.75 grains of fine gold or 24.75*15 = 371.25 grains = 24.0566 grams = 0.7735 troy ounces of fine silver. The same coinage act also set

1040-454: Is one of the first words of Section 9, in which the term refers to the Spanish milled dollar , or the coin worth eight Spanish reales . In 1792, the U.S. Congress passed the Coinage Act , of which Section 9 authorized the production of various coins, including: Dollars or Units —each to be of the value of a Spanish milled dollar as the same is now current, and to contain three hundred and seventy-one grains and four sixteenth parts of

1120-460: Is that it is derived from the Pillars of Hercules on the Spanish coat of arms of the Spanish dollar . These Pillars of Hercules on the silver Spanish dollar coins take the form of two vertical bars ( || ) and a swinging cloth band in the shape of an S . Yet another explanation suggests that the dollar sign was formed from the capital letters U and S written or printed one on top of

1200-468: The Coinage Act of 1834 the dollar's fine gold equivalent was revised to 23.2 grains; it was slightly adjusted to 23.22 grains (1.505 g) in 1837 (gold-silver ratio ~16). The same act also resolved the difficulty in minting the "standard silver" of 89.24% fineness by revising the dollar's alloy to 412.5 grains, 90% silver, still containing 371.25 grains fine silver. Gold was also revised to 90% fineness: 25.8 grains gross, 23.22 grains fine gold. Following

1280-551: The Comstock Lode in the 1870s. This was the so-called "Crime of '73". The Gold Standard Act of 1900 repealed the U.S. dollar's historic link to silver and defined it solely as 23.22 grains (1.505 g) of fine gold (or $ 20.67 per troy ounce of 480 grains). In 1933, gold coins were confiscated by Executive Order 6102 under Franklin D. Roosevelt , and in 1934 the standard was changed to $ 35 per troy ounce fine gold, or 13.71 grains (0.888 g) per dollar. After 1968

1360-545: The Continental Congress resolved that the money unit of the United States, the dollar, would contain 375.64 grains of fine silver; on August 8, 1786, the Continental Congress continued that definition and further resolved that the money of account, corresponding with the division of coins, would proceed in a decimal ratio , with the sub-units being mills at 0.001 of a dollar, cents at 0.010 of

1440-526: The Dutch pioneered in modern-day New York in the 17th century the use and the counting of money in silver dollars in the form of German-Dutch reichsthalers and native Dutch leeuwendaalders ('lion dollars'), it was the ubiquitous Spanish American eight-real coin which became exclusively known as the dollar since the 18th century. The colloquialism buck(s) (much like the British quid for

1520-630: The First World War , and displaced the pound sterling as the world's primary reserve currency by the Bretton Woods Agreement towards the end of the Second World War . The dollar is the most widely used currency in international transactions , and a free-floating currency . It is also the official currency in several countries and the de facto currency in many others, with Federal Reserve Notes (and, in

1600-842: The General Motors Corporation and with the addition of U.S. Rubber products, became one of the world's largest suppliers of original equipment tires. U.S. Rubber produced tires under the Gillette, Ward, Atlas, U.S. Rubber and U.S. Royal brands. In 1940, U.S. Rubber purchased the remainder of the Gillette Safety Tire Company, and began to expand and modernize the Eau Claire factory, greatly increasing production. During World War II , U.S. Rubber factories were devoted to production of war goods, and produced military truck and airplane tires, as well as

1680-590: The Pontiac GTO , which itself was promoted as The Tiger during its early years. Today, Uniroyal still uses the Tiger Paw brand name in its tire line. In 1990, Uniroyal was acquired by French tire maker Michelin and ceased to exist as a separate business. Today around 1,000 workers in the U.S. remain employed by Michelin to make its Uniroyal brand products. While in North America, Colombia and Peru,

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1760-561: The dollar , U.S. dollar , American dollar , or colloquially buck ) is the official currency of the United States and several other countries . The Coinage Act of 1792 introduced the U.S. dollar at par with the Spanish silver dollar , divided it into 100 cents , and authorized the minting of coins denominated in dollars and cents. U.S. banknotes are issued in the form of Federal Reserve Notes , popularly called greenbacks due to their predominantly green color. The U.S. dollar

1840-401: The pound sterling ) is often used to refer to dollars of various nations, including the U.S. dollar. This term, dating to the 18th century, may have originated with the colonial leather trade, or it may also have originated from a poker term. Greenback is another nickname, originally applied specifically to the 19th-century Demand Note dollars, which were printed black and green on

1920-529: The Constitution provides that "a regular Statement and Account of the Receipts and Expenditures of all public Money shall be published from time to time", which is further specified by Section 331 of Title 31 of the U.S. Code. The sums of money reported in the "Statements" are currently expressed in U.S. dollars, thus the U.S. dollar may be described as the unit of account of the United States. "Dollar"

2000-425: The Eau Claire plant was the fifth largest tire facility in the United States. The company again expanded the plant in 1965 to produce tires for construction machinery, and for many years it was the largest private employer in Eau Claire and the second largest in neighboring Chippewa Falls before it was closed in 1991. In late 1943, U.S. Rubber engineer Dr. Louis Marick developed a propeller de-icing system in which

2080-582: The Federal Reserve estimated that the total amount of currency in circulation was approximately US$ 2.33 trillion . Article I , Section 8 of the U.S. Constitution provides that Congress has the power "[t]o coin money ." Laws implementing this power are currently codified in Title 31 of the U.S. Code , under Section 5112, which prescribes the forms in which the United States dollars should be issued. These coins are both designated in

2160-522: The Martin's vice president Malcolm A. MacIntyre to operate Hanford nuclear site under the auspices of AEC , thus assuming duties, previously performed by the General Electric Co. In 1961, the company became Uniroyal, Inc. The Uniroyal name was applied to all its operating components and products by 1967, creating a unified brand. As Uniroyal in 1974, the company became defendant in

2240-948: The Spanish milled dollar, the Continental Congress and the Coinage Act prescribed a decimal system of units to go with the unit dollar, as follows: the mill , or one-thousandth of a dollar; the cent , or one-hundredth of a dollar; the dime , or one-tenth of a dollar; and the eagle , or ten dollars. The current relevance of these units: The Spanish peso or dollar was historically divided into eight reales (colloquially, bits ) – hence pieces of eight . Americans also learned counting in non-decimal bits of 12 + 1 ⁄ 2 cents before 1857 when Mexican bits were more frequently encountered than American cents; in fact this practice survived in New York Stock Exchange quotations until 2001. In 1854, Secretary of

2320-540: The Treasury James Guthrie proposed creating $ 100, $ 50, and $ 25 gold coins, to be referred to as a union , half union , and quarter union , respectively, thus implying a denomination of 1 Union = $ 100. However, no such coins were ever struck, and only patterns for the $ 50 half union exist. When currently issued in circulating form, denominations less than or equal to a dollar are emitted as U.S. coins , while denominations greater than or equal to

2400-854: The Treasury to borrow $ 50 million in the form of Demand Notes , which did not bear interest but could be redeemed on demand for precious metals. However, by December 1861, the Union government's supply of specie was outstripped by demand for redemption and they were forced to suspend redemption temporarily. In February 1862 Congress passed the Legal Tender Act of 1862 , issuing United States Notes , which were not redeemable on demand and bore no interest, but were legal tender , meaning that creditors had to accept them at face value for any payment except for public debts and import tariffs. However, silver and gold coins continued to be issued, resulting in

2480-693: The Uniroyal Goodrich Tire Company as its tire manufacturing unit in the United States and Canada. In January 1991, Michelin Group closed the historic Eau Claire, Wisconsin, plant, eliminating 1,350 positions. Later in 1991 it closed the tire-cord manufacturing plant in Lindsay, Ontario , with 74 workers on August 30, 1991, due to high cost and two tire factories with 1,000 jobs in Kitchener, Ontario , citing overcapacity. Also in 1991,

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2560-589: The Uniroyal brand has been owned by Michelin since 1990, outside those regions, the Uniroyal brand has been owned by Continental AG since 1979 following their acquisition of Uniroyal Europe, formerly known as Englebert . By 1892, there were many rubber manufacturing companies in Naugatuck, Connecticut , as well as elsewhere in Connecticut. Nine companies consolidated their operations in Naugatuck to become

2640-631: The Uniroyal brand outside NAFTA , Colombia and Peru . Uniroyal operations in Canada were carried out under the name Dominion Rubber Company for a number of decades. Dominion started operations as Brown, Hibbard and Bourne, established in 1854. In 1866, the company registered as the Canadian Rubber Company of Montreal Limited and became prosperous manufacturing waterproof cloth, rubber footwear and machinery belts. It began to produce auto tires in 1906 in its Montreal factory and through

2720-703: The Uniroyal tiger returned to national television after a 10-year hiatus, featured in a new 30-second spot created by Wyse Advertising of Cleveland, Ohio . The animated Uniroyal tiger had been a television advertising icon for the company through the 1970s. The new commercial appeared on ESPN and CNN sports-related programming, and also was run by Uniroyal dealers in local markets. By 1993, Michelin North America employed 28,000 people at 18 plants, in South Carolina, Alabama, Oklahoma, Indiana, Nova Scotia and Ontario. In mid-1993, Michelin North America cut 2,500 of those jobs, which represented about 9% of its work force in

2800-534: The United States Rubber Company. One of the nine, Goodyear's India Rubber Glove Mfg. Co. (named Litchfield Rubber Co until 1847) – which manufactured rubber gloves for telegraph linemen – was the only company in which Charles Goodyear , inventor of the rubber vulcanization process, is known to have owned stock. From 1892 to 1913, the rubber footwear divisions of U.S. Rubber manufactured their products under 30 different brand names, including

2880-989: The United States and Canada, because of softening demand for tires. As of 2010, the Uniroyal Goodrich Tire unit continued to operate with about 1,000 workers at its tire plant in Woodburn, Indiana , and another plant in Tuscaloosa, Alabama . Citing overcapacity in the North American tire market, the plant in Opelika, Alabama , closed in 2009. The Uniroyal, Inc Records are held by the Special Collections and Archives Department at University of Wisconsin-Eau Claire . Comprising contract negotiation and grievance case files, meeting minutes, memos, correspondence, photos and audio visual material,

2960-450: The United States and to supervise its banking system, particularly in the aftermath of the Panic of 1907 . For most of the post-war period, the U.S. government has financed its own spending by borrowing heavily from the dollar-lubricated global capital markets, in debts denominated in its own currency and at minimal interest rates. This ability to borrow heavily without facing a significant balance of payments crisis has been described as

3040-625: The United States until the Coinage Act of 1857 . In particular, colonists' familiarity with the Spanish two- real quarter peso was the reason for issuing a quasi-decimal 25-cent quarter dollar coin rather than a 20-cent coin. For the relationship between the Spanish dollar and the individual state colonial currencies, see Connecticut pound , Delaware pound , Georgia pound , Maryland pound , Massachusetts pound , New Hampshire pound , New Jersey pound , New York pound , North Carolina pound , Pennsylvania pound , Rhode Island pound , South Carolina pound , and Virginia pound . On July 6, 1785,

3120-402: The United States was a significant recipient of wartime gold inflows. After the United States emerged as an even stronger global superpower during the Second World War , the Bretton Woods Agreement of 1944 established the U.S. dollar as the world's primary reserve currency and the only post-war currency linked to gold. Despite all links to gold being severed in 1971, the dollar continues to be

3200-576: The Wales-Goodyear Shoe Co. The company consolidated these footwear brands under one name, Keds , in 1916, and were mass-marketed as the first flexible rubber-sole with canvas-top " sneakers " in 1917. On May 26, 1896, Charles Dow created the Dow Industrial average of twelve industrial manufacturing stocks, which included U.S. Rubber Company. When the average expanded to a list of 20 stocks in 1916, U.S. Rubber remained, however

3280-530: The Wikimedia System Administrators, please include the details below. Request from 172.68.168.226 via cp1108 cp1108, Varnish XID 198124832 Upstream caches: cp1108 int Error: 429, Too Many Requests at Thu, 28 Nov 2024 05:36:23 GMT United States dollar The United States dollar ( symbol : $ ; currency code : USD ; also abbreviated US$ to distinguish it from other dollar-denominated currencies ; referred to as

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3360-521: The average Spanish dollar in circulation. The new U.S. silver dollar of 371.25 grains (24.057 g) therefore compared favorably and was received at par with the Spanish dollar for foreign payments, and after 1803 the United States Mint had to suspend making this coin out of its limited resources since it failed to stay in domestic circulation. It was only after Mexican independence in 1821 when their peso's fine silver content of 377.1 grains

3440-500: The backside, created by Abraham Lincoln to finance the North for the Civil War . It is still used to refer to the U.S. dollar (but not to the dollars of other countries). The term greenback is also used by the financial press in other countries, such as Australia , New Zealand , South Africa , and India . Other well-known names of the dollar as a whole in denominations include greenmail , green , and dead presidents ,

3520-440: The buying and selling of goods. This allowed the value of things to remain fairly constant over time, except for the influx and outflux of gold and silver in the nation's economy. Though a Spanish dollar freshly minted after 1772 theoretically contained 417.7 grains of silver of fineness 130/144 (or 377.1 grains fine silver), reliable assays of the period in fact confirmed a fine silver content of 370.95 grains (24.037 g) for

3600-441: The canvas-top, rubber-soled Jungle boot for soldiers and marines serving in tropical and jungle environments. U.S. Rubber ranked 37th among United States corporations in the value of wartime production contracts. In 1942, the United States government restricted the sale of scarce rubber products for civilian use and production at the plant dwindled. The company sold the Eau Claire plant to the government, which then converted it for

3680-414: The currency, a practice compared to the policies of European monarchs. The currency as we know it today did not get the faces they currently have until after the early 20th century; before that "heads" side of coinage used profile faces and striding, seated, and standing figures from Greek and Roman mythology and composite Native Americans. The last coins to be converted to profiles of historic Americans were

3760-477: The debt securities in two parts through underwriters led by Drexel Burnham Lambert Inc. The two instruments were a US$ 250 million issue of 14 ⅛% notes due in 1998, and a US$ 165 million issue of 14 ½% subordinated debentures due in 2000. For the year 1988, Uniroyal Goodrich Tire posted sales revenue of US$ 2.2 billion, while profit declined to about a third of the prior year, less than US$ 12 million, which included an extraordinary credit of nearly US$ 2 million from

3840-632: The depreciation of the newly printed notes through Gresham's law . In 1869, Supreme Court ruled in Hepburn v. Griswold that Congress could not require creditors to accept United States Notes, but overturned that ruling the next year in the Legal Tender Cases . In 1875, Congress passed the Specie Payment Resumption Act , requiring the Treasury to allow U.S. Notes to be redeemed for gold after January 1, 1879. Though

3920-668: The dime (1946), the half Dollar (1948), and the Dollar (1971). After the American Revolution , the Thirteen Colonies became independent . Freed from British monetary regulations, they each issued £sd paper money to pay for military expenses. The Continental Congress also began issuing "Continental Currency" denominated in Spanish dollars. For its value relative to states' currencies, see Early American currency . Continental currency depreciated badly during

4000-426: The discontinuation of all other types of notes (Gold Certificates in 1933, Silver Certificates in 1963, and United States Notes in 1971), U.S. dollar notes have since been issued exclusively as Federal Reserve Notes . The U.S. dollar first emerged as an important international reserve currency in the 1920s, displacing the British pound sterling as it emerged from the First World War relatively unscathed and since

4080-421: The dollar came under the gold standard de jure only after 1900, the bimetallic era was ended de facto when the Coinage Act of 1873 suspended the minting of the standard silver dollar of 412.5 Troy grains = 26.73 g; 0.859 ozt, the only fully legal tender coin that individuals could convert bullion into in unlimited (or Free silver ) quantities, and right at the onset of the silver rush from

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4160-597: The fall of 1987, the B.F. Goodrich Company closed several manufacturing operations at the site, and most of the complex remained vacant until February 1988, when B.F. Goodrich announced plans to sell the vacant portions of the complex to the Covington Capital Corporation, a New York developer. The complex is now known as Canal Place. In 1987, its first full year of operation, the new Uniroyal Goodrich Tire Company generated almost US$ 2 billion in sales revenue, with profit of about US$ 35 million. However,

4240-397: The latter of which referring to the deceased presidents pictured on most bills. Dollars in general have also been known as bones (e.g. "twenty bones" = $ 20). The newer designs, with portraits displayed in the main body of the obverse (rather than in cameo insets), upon paper color-coded by denomination, are sometimes referred to as bigface notes or Monopoly money . Piastre

4320-466: The listing expanded to 30 stocks in 1928 and U.S. Rubber was dropped. In an effort to increase its share of the automobile tire market in 1931, U.S. Rubber Company bought a substantial portion of the Gillette Safety Tire Company. The company was founded in 1916 by Raymond B. Gillette and its primary manufacturing plant was located in Eau Claire, Wisconsin . The Gillette plant held large contracts with

4400-493: The manufacture of small caliber ammunition and renamed it the Eau Claire Ordnance plant. By December 31, 1943, the need for tires outweighed the need for ammunition. U.S. Rubber repurchased the plant from the government for more than US$ 1 million, and converted it back to synthetic rubber tire production. The company began an expansion and modernization program at the plant that lasted through 1951. When it ended,

4480-526: The merger soon proved to be difficult. In June 1988, B.F. Goodrich sold its 50% stake to a group of investors led by Clayton, Dubilier & Rice for US$ 225 million. At the same time, B.F. Goodrich also received a warrant to purchase indirectly up to 7% of the equity in Uniroyal Goodrich Tire Company. Also in June 1988 as part of the sale deal, the new privately held tire company acquired publicly held debt of $ 415 million. The Uniroyal Goodrich Tire Company offered

4560-401: The modern-day World Bank Group , establishing the infrastructure for conducting international payments and accessing the global capital markets using the U.S. dollar. The monetary policy of the United States is conducted by the Federal Reserve System , which acts as the nation's central bank . It was founded in 1913 under the Federal Reserve Act in order to furnish an elastic currency for

4640-590: The name Uniroyal Tyre Company became Bridgestone Australia Ltd. and was traded on the Australian stock exchange as a majority-owned subsidiary of Japan's tire company. On March 20, 2007, stockholders of Bridgestone Australia Ltd. voted to make the company a wholly owned subsidiary of Bridgestone Corporation of Japan.( TYO : 5108 ) A joint venture, Isochem, Inc., was established in June 1965 together with Martin Marietta Corporation and chaired by

4720-517: The numerical amount, is used for the U.S. dollar (as well as for many other currencies). The sign was perhaps the result of a late 18th-century evolution of the scribal abbreviation p for the peso , the common name for the Spanish dollars that were in wide circulation in the New World from the 16th to the 19th centuries. The p and the s eventually came to be written over each other giving rise to $ . Another popular explanation

4800-561: The other. This theory, popularized by novelist Ayn Rand in Atlas Shrugged , does not consider the fact that the symbol was already in use before the formation of the United States. The U.S. dollar was introduced at par with the Spanish-American silver dollar (or Spanish peso , Spanish milled dollar , eight-real coin , piece-of-eight ). The latter was produced from the rich silver mine output of Spanish America ,

4880-613: The proposed purchase of the company by Michelin Group. By May 1990, Michelin Group completed its purchase of Uniroyal Goodrich Tire Company from Clayton & Dubilier of New York. The deal was valued at about US$ 1.5 billion. B.F. Goodrich surrendered its 7% warrant to Michelin Group for US$ 32.5 million. With the sale, B.F. Goodrich then exited the tire business and became the Goodrich Corporation to focus on building its chemicals and aerospace businesses through reinvestment and acquisitions. Michelin Group continued to operate

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4960-501: The purchase of Canadian annuity pension obligations, and also a charge of over US$ 16 million from the June 1988 recapitalization resulting from the selloff by B.F. Goodrich. Also in 1988, Michelin Group, a subsidiary of the French tire company Michelin et Cie ( Euronext Paris :  ML ) proposed to acquire the Uniroyal Goodrich Tire Company, and began acquiring a stake. In 1989, Uniroyal Goodrich Tire Company posted sales revenue that

5040-686: The records document numerous activities including: the collective bargaining activities of Local 19 of the United Rubber Workers of America, the impact on plant operations by the introduction of synthetic rubber production, and work modernization after World War II. The Department is also home to the Uniroyal Collection , which includes news clippings and photos, and well as the United Rubber, Cork, Linoleum, and Plastic Workers of America. Local 19: Records , which reflect

5120-416: The rise in the price of silver during the California Gold Rush and the disappearance of circulating silver coins, the Coinage Act of 1853 reduced the standard for silver coins less than $ 1 from 412.5 grains to 384 grains (24.9 g), 90% silver per 100 cents (slightly revised to 25.0 g, 90% silver in 1873). The Act also limited the free silver right of individuals to convert bullion into only one coin,

5200-449: The section as " legal tender " in payment of debts. The Sacagawea dollar is one example of the copper alloy dollar, in contrast to the American Silver Eagle which is pure silver . Section 5112 also provides for the minting and issuance of other coins, which have values ranging from one cent ( U.S. Penny ) to 100 dollars. These other coins are more fully described in Coins of the United States dollar . Article I, Section 9 of

5280-552: The silver dollar at the rate of 1 silver dollar to 1000 continental dollars. This resulted in the clause "No state shall... make anything but gold and silver coin a tender in payment of debts" being written into the United States Constitution article 1, section 10 . From implementation of the 1792 Mint Act to the 1900 implementation of the gold standard , the dollar was on a bimetallic silver-and-gold standard, defined as either 371.25 grains (24.056 g) of fine silver or 24.75 grains of fine gold (gold-silver ratio 15). Subsequent to

5360-429: The silver dollar of 412.5 grains; smaller coins of lower standard can only be produced by the United States Mint using its own bullion. Summary and links to coins issued in the 19th century: In order to finance the War of 1812 , Congress authorized the issuance of Treasury Notes , interest-bearing short-term debt that could be used to pay public dues. While they were intended to serve as debt, they did function "to

5440-414: The value of an eagle at 10 dollars, and the dollar at 1 ⁄ 10 eagle. It called for silver coins in denominations of 1, 1 ⁄ 2 , 1 ⁄ 4 , 1 ⁄ 10 , and 1 ⁄ 20 dollar, as well as gold coins in denominations of 1, 1 ⁄ 2 and 1 ⁄ 4 eagle. The value of gold or silver contained in the dollar was then converted into relative value in the economy for

5520-423: The war, giving rise to the famous phrase "not worth a continental". A primary problem was that monetary policy was not coordinated between Congress and the states, which continued to issue bills of credit. Additionally, neither Congress nor the governments of the several states had the will or the means to retire the bills from circulation through taxation or the sale of bonds. The currency was ultimately replaced by

5600-630: The work of the labour union that represented the employees at the Uniroyal Goodrich Tire Company's Eau Claire plant. Records and photographs pertaining to the Rubber Machinery Shops of the Dominion Tire Co. Ltd, in Kitchener, Ontario are housed in Special Collections & Archives at the University of Waterloo Library . Included are photographs, newsletters, equipment lists, press releases and news clippings regarding employees and company operations. United States Rubber Company records at Baker Library Special Collections, Harvard Business School. Tire Too Many Requests If you report this error to

5680-408: The world's foremost reserve currency for international trade to this day. The Bretton Woods Agreement of 1944 also defined the post-World War II monetary order and relations among modern-day independent states , by setting up a system of rules, institutions, and procedures to regulate the international monetary system . The agreement founded the International Monetary Fund and other institutions of

5760-412: Was firmly upheld, which the U.S. later had to compete with using a heavier 378.0 grains (24.49 g) Trade dollar coin . The early currency of the United States did not exhibit faces of presidents, as is the custom now; although today, by law, only the portrait of a deceased individual may appear on United States currency. In fact, the newly formed government was against having portraits of leaders on

5840-465: Was later shortened to the German taler , a word that eventually found its way into many languages, including: tolar ( Czech , Slovak and Slovenian ); daler ( Danish and Swedish ); talar ( Polish ); dalar and daler ( Norwegian ); daler or daalder ( Dutch ); talari ( Ethiopian ); tallér ( Hungarian ); tallero ( Italian ); دولار ( Arabic ); and dollar ( English ). Though

5920-670: Was merged with that of B.F. Goodrich Company ( NYSE :  GR ), a S&P 500 -listed tire and rubber fabricator that made high-performance replacement tires. The joint venture partnership became the Uniroyal Goodrich Tire Company and B.F. Goodrich Company held a 50% stake in the new tire company. The new Uniroyal Goodrich Tire Company established its headquarters at the former B. F. Goodrich corporate headquarters, within its 27-building downtown complex in Akron, Ohio , which contained Goodrich's original factory. In

6000-748: Was minted in Mexico City , Potosí (Bolivia), Lima (Peru), and elsewhere, and was in wide circulation throughout the Americas, Asia, and Europe from the 16th to the 19th centuries. The minting of machine-milled Spanish dollars since 1732 boosted its worldwide reputation as a trade coin and positioned it to be the model for the new currency of the United States . Even after the United States Mint commenced issuing coins in 1792, locally minted dollars and cents were less abundant in circulation than Spanish American pesos and reales ; hence Spanish, Mexican, and American dollars all remained legal tender in

6080-561: Was one of the original 12 stocks in the Dow Jones Industrial Average , and became Uniroyal, Inc., as part of creating a unified brand for its products and subsidiaries in 1961. The company's long-lived advertisement slogan was " United States Tires are Good Tires ." One of Uniroyal's best-known tires is the Tiger Paw introduced in the 1960s and included as original equipment for that decade's muscle cars such as

6160-461: Was originally defined under a bimetallic standard of 371.25 grains (24.057 g) (0.7734375 troy ounces) fine silver or, from 1834 , 23.22 grains (1.505 g) fine gold, or $ 20.67 per troy ounce . The Gold Standard Act of 1900 linked the dollar solely to gold. From 1934, its equivalence to gold was revised to $ 35 per troy ounce . In 1971 all links to gold were repealed. The U.S. dollar became an important international reserve currency after

6240-514: Was renamed Uniroyal Ltd., along with all other company holdings, and in 1981, it was sold to Waterville Ltd. In 1939, Mark Lodge and Harold Hill established S. A. Rubber Mills Pty. Ltd. in Edwardstown, South Australia . The company grew until 1963 when U.S. Rubber purchased 25% of the business. By 1980, Uniroyal owned sixty percent of what was now Uniroyal Brazil which it sold to Bridgestone . The subsidiary which operated Australian plants under

6320-609: Was the original French word for the U.S. dollar, used for example in the French text of the Louisiana Purchase . Though the U.S. dollar is called dollar in Modern French, the term piastre is still used among the speakers of Cajun French and New England French , as well as speakers in Haiti and other French-speaking Caribbean islands. Nicknames specific to denomination: The symbol $ , usually written before

6400-425: Was up to almost US$ 2.3 billion, but profit was down by 90% to just over US$ 1 million, but included over US$ 9 million extraordinary credit that year for the ongoing Canadian annuity pension obligation purchase. 1989 year-end net income results were also hurt by increased interest expense of nearly US$ 31 million on the June 1988 debt recapitalization, and a US$ 29 million charge for deferred employee compensation related to

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