Word: rayon
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...textile market, some rayon prices were already down 12% from their peak, and sales were still lagging. Cotton traders, expecting a 16,000,000-bale crop this year (v. 10,000,000 in 1950), drove down the price of cotton for delivery next fall by $10 a bale, or 6%. In other futures markets, grains, sugar, coffee and cocoa were all on the skids; the Dow-Jones index of futures prices dropped to 204.90, off 10 points from its February peak and the lowest level in two months...
...Bureau of Labor Statistics last week completely revised its cost-of-living index to bring it up to date and include what Americans now consider "necessities." New BLS additions to the index: television sets, frozen foods, canned baby food, cola drinks, men's rayon tropical suits, home permanents, velocipedes, electric toasters...
Sulphur is one of the mainstays of U.S. industry. It is needed for everything from steel, fertilizer and rubber, to paper, rayon and flea powder. It is also one of the most plentiful of raw materials; in its most common form-pyrites deposits (sulphur mixed with other materials)-millions of tons are found above ground all over the world. Yet last week the U.S. and the whole Western bloc of nations were short of sulphur...
...their domestic deliveries 15% to 20%. The National Production Authority pared exports down to two-thirds of last year's 1,200,000 tons. As a result, Britain, which buys 40% of the total U.S. export, faces big cuts in her chemical industry, has already cut back rayon production 20% and may soon be forced to reduce it another...
Torri's trade is rayon textiles. He is head man of gigantic and world-famed Snia Viscosa (40,000 employees). He signs himself "Torri" (Towers), he explained, because he has built three towering structures: an office building in Milan and factories near Venice and in Spain. His real name is Franco Marinotti, and his personal income is around $2,000,000 a year. At 60, Marinotti looks a bit like a short and overweight Daddy Warbucks. He has painted all his life...