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...Bureau of Labor Statistics wholesale-price index last week stood at 119.4% of the 1947-49 average, a shade above the December level and only a fraction above a year ago. Several major raw materials even registered sharp decreases. Lead was marked down from 12? to 11? per Ib. when the metal piled up despite import quotas. Because of a worldwide glut in oil, British Petroleum Co. lopped 18? per bbl. off the price of Mideast oil. Creole Petroleum cut 5? to 15? off the price of Venezuelan oil, and in the U.S., Gulf and Ohio Oil dropped their buying...
...Copper, a weak sister among metals, recovered to the point where domestic producers boosted prices 1? a Ib. to 30?, the highest level since mid-June 1957. Increased demand from automakers, electrical-equipment manufacturers and home builders led domestic producers to predict continuing recovery during the remainder of 1959. ¶Construction in January slipped slightly from December but still posted an all-time record for the month at $3.7 billion, v. $3.3 billion in 1958. ¶ Department-store sales as a measure of consumer confidence increased 8% from the comparable period in 1958. The full-month totals for January show...
...cruel destruction, the Chinese Communist artillery bombardment of Quemoy has brought one unexpected windfall. Since last August the Reds have fired 650,000 rounds at Quemoy. Armed with burlap bags, the islanders have been collecting the shell fragments and selling them to Formosa at 3? per Ib. for scrap. In only a few minutes, even a child can pick up enough shards to buy himself a hot meal of pork and noodle soup...
...matter, in his early newspapering years, suggests his role as a soothsayer of doom. Born 48 years ago in Avon, Conn., son of a well-to-do tobacco raiser, Joe Alsop idled, read and ate his way through adolescence. Groton and Harvard, emerging a 5 ft. 9 in., 245-Ib. magna cum laude dandy addicted to French cuffs and French pastry, Proust, Joyce, Gertrude Stein, and the decay of ancient civilizations-Egypt, the Mayans, Greece and Rome. By then it was clear that Joe had no real interest in the law, which was the career his parents had decided...
RUSSIAN DUMPING has kicked the bottom out of free-world tin market. International Tin Council countered by buying tin at 91? a Ib. But council ran out of funds, and prices plunged from 91? to 80?, causing heavy losses to tin-producing Bolivia, Malaya, Africa...