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In 1929 the profits that were enormous suffered a steep fall, many producers failed and others had to sell off their pens at low prices. Parker, that taken years to establish its brand, decided not to devalue his pens, and kept prices high for the Duofold, but in order to compete in 1932 introduced a range of economic models, school-type, for which they did no advertising. These models did not have a name and are usually indicated by collectors as Thrift Time, or depression pen.