Word: newsprint
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Dates: during 1950-1959
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...were willing to spend it. But automobile production was down slightly for the year, and Chrysler of Canada announced that it would operate only one shift a day during the 1958 model year rather than two. Steel production was a little below last year's rate, and newsprint manufacturers last week announced plans to cut back. Reflecting a gloomier outlook for earnings and dividends, industrial stocks sagged...
...three have been scrambling to regain circulatory lifeblood. even if it means draining the other fellow's veins. This week Hearst's Journal-American (circ. 585.121) launched its boldest raid on rival circulation. At the cost of "close to $1,000,000" a year for more newsprint and personnel, the paper began running complete daily stock-market quotations-a reader-fetching feature hitherto monopolized in the afternoon by Scripps-Howard's World-Telegram and Sum (circ...
Cross-Country Effect. The effects of the rate touched all of Canada. In Montreal a spokesman for the Canadian Pulp and Paper Association, whose members sell newsprint for U.S. dollars, complained that the "abnormal and artificially high value of the Canadian dollar" had created an "urgent and pressing problem" for ex port industries, which still must pay their domestic costs in high-priced Canadian dollars. In Alberta cattle growers found the interest of U.S. buyers waning in the face of a 6% exchange...
...neighbors are each other's best customers, but it is a chronic Canadian complaint that Canada gets the short end of the bargain. By the trainload and shipload, Canadian newsprint, nickel, aluminum feed the U.S. economy. The Consolidated Denison mine in Blind River, Ont. contains twice as much uranium as all the known U.S. reserves, and its entire output through 1961 is earmarked for the U.S. Atomic Energy Commission. In turn, the U.S. ships industrial machinery, automobiles and consumer goods to the north, and Canada's trade deficit with the U.S. last year...
Less successful papers have thus been quick to feel the pinch of production costs, long fattened by featherbedding mechanical unions and skyrocketing newsprint prices, which at $146 a ton (v. $134 in New York) are six times the prewar level. Aggrieved by the Laborite Herald's woes, one Labor M.P. even charged in the Commons' debate that the "giants have been deliberately inflating costs because they know that [they] will squeeze out their weaker brethren," while a Tory went so far as to propose beefing up ailing papers with government-paid newsprint subsidies...