Word: backlog
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...much and create the risk of a mini-recession. To offset such economic drags as a sharp drop in steel buying, a leveling off in defense outlays and the anticipated decline in consumer spending, the Administration counts on a major rebound in housing construction. Yet despite a huge backlog of unfilled demand for new housing, the result of the 1966 credit squeeze that crippled the industry for a year, no such upturn seems likely unless interest rates continue to fall...
Whatever the reason, the dip made the smaller and more vulnerable brokerage houses wonder whether the backlog of paper work could not push them toward the "fail-safe" limit...
Similar problems have stymied other attempts to cut waiting periods. A law in California that requires elimination of the criminal backlog has meant that, where necessary, civil judges are pulled off to hear criminal cases; that, of course, has contributed to an increase in the civil case jam. Nonetheless there is a growing recognition of the principle that justice delayed is justice denied. Congress, at the President's urging, has established a Federal Judicial Center that will, as of March 27, begin studying the problems...
...intolerable delays in the processing of criminal trials as well. In December 1967, the Presiding Judge of the Appellate Division announced he was suspending civil trials in Bronx County for at least the month of January. In a forthcoming study Howard James reports that there is a current backlog in Texas of more than 212,000 civil cases...
Stock-trading volume has been setting new records with regularity in recent years, but nothing so overwhelming as the current surge of trading has ever before hit Wall Street. Caught in a growing backlog of paper work, most brokerage offices have been unable to process and deliver stock certificates as fast as they have been bought and sold. Last week the nation's leading securities markets decided to curtail their hours to enable clerical staffs to catch up, just as they did for nine market days last August...