Word: lumbering
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...more than double the national average. In some hard-hit areas like Chicago, as many as 3 out of 4 may be idle. The downturn in home building will cause other layoffs over the winter as its effects begin to show up in fewer orders for stone and clay, lumber, wiring and electrical equipment, steel and furniture. General Electric, Pittsburgh Plate Glass and Carrier Corp. have already furloughed some 1,500 employees as a result of the housing slump...
...around at home, play with the children, fix boat engines and take their wives across the river to the Hudson's Bay Store. Welfare is the primary, if not the only, source of income. A few of the younger men go south in winter to work in a lumber camp; the rest stay in St. Augustine and concentrate on staying warm. The women are strong and sensible, the dominant figure in a domestic life where the man's role as hunter has been phased out by external forces over which he has had no control. Babies, and the per-petuation...
Pierre Tenegan is a wiry little man dressed in one permanent pair of bluejeans, a mangy checked lumber jacket, a 1950s ski hat and striped track shoes. He is the chief. His functions being primarily spontaneous, he preserves the peace by banishing drunken men to the hills behind the houses and stopping children from stampeding into the empty schoolroom or playing with the useless firehose that found its way in there along with four enormous pairs of fireman's boots. Gifts from the Great White Government. Out of the pouring rain, Pierre would bring in firewood for our stone-cold...
...Economist Otto Eckstein of Harvard: "If the wholesale index does not do dramatically better by, say November or December, then the outlook is pretty grim." One hopeful sign: after several years of going straight up, prices are dropping on many raw industrial commodities, including cowhide, copper, rubber, wastepaper, cotton, lumber and steel scrap. They are declining largely because of reduced demand...
...markedly in price and volume, and if negotiated commissions [which permit investors to bar gain with brokers over what fee they will pay to buy stock] become effective May 1, 1975." The stocks of companies that produce commodities in short supply, including issues of oil, heavy chemical, metal and lumber concerns, may do well. But Harris, Upham & Co. now sees the Dow Jones average ranging no higher than 780 in the next six months. Its "worst case" assumption is a drop to 680, the lowest since July...