Word: ingot
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This time there was justification for an undercurrent of hope: electric power production and steel ingot production were up, automobile prospects were rosy (see p. 62). But the New York Times, which has practically ceased gathering New Year forecasts from businessmen, commented: ''Never before within the memory of Wall Street veterans have prophetic efforts been so lightly regarded...
...light of such factors as reliability, seasonal variations, money, politics. In an industry like steel, for which no inventory figures are available, the wobbles of thick, black chart lines tell the story. The supply index is based on the American Iron & Steel Institute's published statistics of ingot production. The demand index, which anticipates the trend of actual consumption up to three months, is calculated on figures from steel's customers-automobiles, railroads, building, oil. Gross railroad income furnishes a clue to probable purchases of rails and equipment. Building permits and contract awards hint at that industry...
...positions as in Bawl Street's prototype: "We Maintain the Same Unlisted Trading Service That Once Upon a Time Maintained Us"-Bristol & Willett. "We Fiddle with U. S. Government Notes-Private Ire From Washington"- Boettcher-Newton & Co., "52 Back-to-the-Wall St." "Dillinger, Read & Co." "Metal Specialists-Ingot We Trust"- Harris & Vose. "All we know is what we read in the papers. ... If you don't believe it, send for a copy of our United Aircraft letter to Senators"-J. P. Morgan & Co. "WTe take pleasure in announcing that we have completed arrangements with Adrian H. Muller...
...Only last week Donald B. Gillies (Corrigan-McKinney Steel) told the American Mining Congress that his industry "whole-heartedly approves the President's Recovery program." Steelman Weir was himself one of the first to fall in line last summer. But so long as U. S. steelmasters have an ingot to their names they will resist detested outside (A. F. of L.) unionization of their business. On this issue Founder Weir gave battle. In Washington last October, it was agreed between Weirton Steel and the heads of its Employes Organization and the NRA's Labor Board that Weirton...
...makes non-dendritic (homogeneous) steel. In a cast ingot the interior pressure created by the more rapidly cooling exterior forms segregated crystalline structures which may weaken the steel...