Word: cwt
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Dates: during 1960-1969
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Food stockpiles at home have shrunk $1.3 billion (to $6.7 billion) since 1960, now consist of 818 million bu. of wheat, 55 million tons of feed grains, 7.7 million cwt. of rice, and 126 million Ibs. of dried milk. Pointing out nonetheless that domestic commodity stockpiles "must be large enough to serve as a stabilizing influence and to meet any emergency," Johnson asked Congress to authorize establishment of reserves for certain strategic commodities. Such reserves, he said, would be built up and maintained by Government purchases on the open market rather than relying on accumulation through subsidies and price-support...
...Chicago, Armour & Co. announced the selection of President Clark Kerr of the University of California to head up a company-union automation committee. Under a new contract, Armour contributes 1? per cwt. of meat processed to a special automation fund. With the money the committee will study and recommend ways to retrain and relocate workers laid off as a result of the introduction of new machines. Says Kerr: "I think there will be many more committees such as this one. We will see a new pattern of collective bargaining...