Word: opm
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Since the 1942 U.S. copper deficiency is estimated at 770,000 tons, Morenci comes in none too soon. OPM's copper curtailment order went into effect last week, cut off all supplies from manufacturers of 100-odd copper gadgets after...
...does not expect OPM to O.K. all of Venezuela's needs without a battle. First big fight ahead will concern whether EDB can get a blanket approval, or will have to haggle over every item. If Colonel Lord wins that battle it will be a precedent for deals with the other 19 republics. His strongest arguments: 1) these are minimum needs, for which the Latin American countries are willing and eager to pay; 2) if they are not granted, in too many cases the war-straitened economies of these nations may collapse; 3) hemisphere solidarity is worth...
Last month OPM decided that was not enough. To Phelps Dodge it proposed an 80% expansion to bring Morenci's production to 10,000 tons monthly, some 13% of total current U.S. production. Defense Plant Corp. would finance the new ore-handling and refining equipment ($28,000,000). Phelps Dodge had figured Morenci's vast reserves would take 28-30 years to extract. Now it may have to figure on a briefer future...
...biggest electric steel plant ever to be built in the U.S. was last week proposed by OPM. With an annual capacity of 504,000 tons, the plant (to cost about $8,000,000) will be built with Government money in South Chicago, operated by Republic Steel Corp. It will be ready for part-time operations in eight months...
...creeping disease of the U.S. economy, priorities unemployment, infected the booming West Coast lumber industry last week. Because of OPM's priority order against non-defense housing (TIME, Oct. 6) millmen have had a flood of cancellations on "side-cut" lumber (for home construction). Last week Portland's West Oregon Lumber Co. cut operations from five to two days a week. Another concern did likewise. Said the West Coast Lumbermen's Association: "Others might follow...