Word: last
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Dates: during 1950-1959
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Such nondurable goods as clothing, food and gasoline still account for two-thirds of the consumer's purchases, reached a sales total of $12 billion in October. Bigger gains have been run up in the durable field (see chart), where October sales hit $6.3 billion, up 17% over last year and nearly 10% over September. The durables got a hefty boost in October from soaring sales of Detroit's 1960 auto models, will probably level off this month because of a shortage of cars caused by the steel strike...
...strike caused no shortage in other areas where the consumer likes to pour out his cash. September output of major appliances was up 30% over last year, radio-television output up 28%, production of textiles and clothing up 14%. With steelworkers back at their jobs and laid-off auto workers gradually going back, merchants are already looking forward to record Christmas buying...
...want to sound like a Pollyanna," said a steelman last week, "but so far, everything is going better than we dreamed it could." With its 500,000-man labor force back on the job, the nation's steel industry was making an amazing comeback. Barely a week after the first furnaces were fired up again, the mills were up to 45.9% of capacity, and turning out 1,300,000 tons of steel. This week output should be clipping along at better than 60%, well ahead of the first estimates...
When Labor Secretary James P. Mitchell promised last April to eat his hat on the steps of the Labor Department if unemployment did not drop below 3,000,000 in October, he thought he was making a sure bet. But last week the Labor Department announced that although employment was higher than in any previous October-66,831 000-unemployment stood at 3,272,000. Just before the figures wene officially announced, Mitchell appeared on the Department of Labor steps to keep his part of the bargain-or almost. Said Mitchell: "I am off by several hundred thousand entirely...
Financier Allan P. Kirby, boss of Alleghany Corp. since the death of Robert R. Young almost two years ago, got a telephone call last week from another big moneyman. The caller: Boston's Abraham M. Sonnabend, the real estate wheeler-dealer who heads Hotel Corp. of America, Botany Industries, and a fistful of other companies. Could they set up a meeting some time later in the week? Kirby knew why. For months, Sonnabend and a group of associates had been quietly buying Alleghany stock, and they owned some 700,000 shares, or about 14% of the common stock outstanding...