Word: coppers
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Seven oil-exploration contracts have been awarded to eager bidders, among them the U.S.'s Continental and Union Oil companies. Surveying for copper, Freeport Sulphur Co. recently found high-grade (4%) ore, and may invest up to $100 million to exploit it. International Nickel just got the go-ahead to start a $1,500,000 survey of nickel deposits on the island of Sulawesi (Celebes), and may invest $100 million. Bethlehem Steel has expressed interest in tin deposits, Boise Cascade in logging concessions. ITT agreed to build a satellite relay station near Djakarta at a cost...
Damon Runyon's lively 1927 stories about Ruth Snyder and her boy friend, Henry Judd Gray, both accused of murdering her husband, included the information that "Mrs. Snyder and Gray have been 'hollering copper' on each other, as the boys say. That is, they have been telling." Did the reporter learn this from a prosecution source...
Alcoa official last week, "but this copper thing has given us our biggest boost yet." Some air-conditioning manufacturers, for example, are redesigning condensers and evaporating tubing for aluminum; Detroit's Michigan Utilities Co. has begun converting to aluminum tubing for connections to gas appliances. A good deal of the switching is impelled not by copper shortages but by the rising price of the metal. And however the strike ends, the price seems sure to go only...
...strike has shut down some 60 facilities in 23 states and heavily damaged the economies of Arizona, Montana, Nevada, Utah and New Mexico. It has also added at least $200 million to the nation's balance-of-payments deficit, as copper users have been forced to turn to foreign suppliers, who now charge 700 a Ib. Despite union strike benefits, federal food stamps and county welfare payments, the strikers are hurting too. "Financially, I'm busted," said Machinist Wilbur E. Moses of Anaconda, Mont., last week. "But there ain't much we can do about...
Basic Change. The two settlements actually put little new pressure on copper's Big Four-Anaconda, Kennecott, Phelps Dodge and American Smelting & Refining-to come to terms with 60,000 strikers. Both agreements involve local operations and thus do not touch the strike's key issue: the 26 unions' demand for a basic change in the bargaining rules. The unions, backed by the full power of the A.F.L.-C.I.O., demand the right to bargain as a coalition within each company, and to set common expiration dates on all contracts. "This is a strike," said A.F.L.-C.I.O. President...