Word: co
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Dates: during 1950-1959
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...questions were submitted in advance, then arrived at his Rangoon rendezvous with Murrow and camera crew willing to answer only ten of them. (Among the many subjects he declined to discuss: U.S. prisoners in China, Titoism, Peking's offer of a governmental post to Chiang Kai-shek.) Murrow & Co., and viewers as well, were fortunate that Chou did not answer more. He sat, solemn, humorless and tired-looking, acting like a man who was far from being his own master. Though he understands English well, Chou insisted on reading his answers in mechanical Chinese for an interpreter to translate...
Though ODM's decision sorely disappointed steelmakers, there were few cries of real alarm. Bethlehem Steel Corp. and Youngstown Sheet and Tube Co. announced that they would review expansion plans; Jones & Laughlin Steel Corp. said that it would be forced to reappraise plans for a new $250 million mill planned for Houston. But most steelmen had already decided that they have to expand one way or another to meet their growing markets. Republic Steel Corp. will still continue with its $187 million expansion program; so will Pittsburgh Steel Co., National Steel Corp., Armco Steel Corp. and Inland Steel Co...
Cash Needed. Where the steelmen will get the funds in the tight money market was another question. Last week Lukens Steel Co. produced an idea: it plans to finance its $40 million expansion program through 20-year loans from General Electric Co. and other big customers. Most other steelmen will probably depend on earnings to finance the new plants, are expected to boost prices to get the extra cash they need. At week's end U.S. Steel, Bethlehem and Inland Steel hiked prices 1% to 4% on specialty items for the second price rise in six months...
Another idea is for a flexible depreciation allowance based on the inflationary ups and downs of the economy. Under this proposal, as expounded by Cleveland Electric Illuminating Co. Vice President Ralph M. Besse, depreciation rates would still be on the basis of original costs, but would vary according to changing dollar values; thus if rates, for example, were 3% annually and prices shot up 100%, the allowance would automatically double, and businessmen could recover 6% of their original cost in that year. "Even so," says Besse, "at the end of the depreciation period, we would not have recovered enough dollars...
...short Europe were already being restricted. Humble Oil, subsidiary of Jersey Standard and the biggest producer and oil-buyer in Texas, testified that it could supply only 165,500 bbls. of a 300,000 bbl. order from Esso Export. W.C. Connel of the B.P. (British Petroleum ) Trading Co. wired that British companies wanting to buy 3,000,000 bbls. on the Gulf Coast were forced to divert their tankers around Africa to the Persian Gulf because "there is no assured supply of crude...