Word: scrap
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Dates: during 1950-1959
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...general price adjustment since World War II (and the first since 1953), appliance makers announced increases of1% to 10% on TV sets, refrigerators, washing machines and electric ranges. Other manufacturers hiked their price tags on a wide variety of products, from mattresses to steel cabinets, rubber heels to beer. Scrap steel prices reached $63 a ton, a record high. Automakers estimated that 1957 cars will be from $30 to $300 more expensive than this year's models when they make their bows next month. Of 4,000 manufacturing companies surveyed last week by the National Institute of Statistics...
Toward the close of his long life, the sharp old man paused happily each birthday among the scrap baskets full of congratulations to thank his cloistered friend for her good wishes. "If I try to sneak into paradise behind you they will be too glad to see you to notice me," he wrote once. His 94th and last birthday marked the end of these exchanges: "God must be tired of all these prayers for this fellow Shaw whom He doesn't half like. He has promised His servant Laurentia that He will do His best...
...People ask me," says he, " 'If your brother-in-law is worth $150 million, what are you worth?' I say. 'Maybe minus $150 million.' You can never tell what ships are worth. Why someday I may even have to sell the whole fleet for scrap iron." Few shipping men think that day will ever come-or, if it does, that Niarchos will lose money on the deal...
Time is certainly running out, even for so able a performer as Archie, but if last week's scrap did nothing else, it demon strated that he Still has plenty of sting left, even after the awesome sledgehammering he took from Rocky Marciano last September. Besides netting him a neat $51,975, the Parker fight served no tice that Archie Moore will be no push over when ex-Olympian Floyd Patterson, the hot young (21) pretender, fights him for the official world heavyweight title in September...
...current debate, the Federal Reserve feels that some industrialists are trying to use FRB as a convenient whipping boy for every economic zigzag. But FRB also sees signs that its credit medicine is working effectively. Such sensitive barometers as daily spot-commodity prices have been edging downward, especially in scrap steel and copper. Furthermore, the volatile money market seems to be adjusting to the new climate after a sharp flare-up in April immediately following the latest hike in discount rates to Federal Reserve member banks. Interest rates on short-term (up to 90 days) Treasury bills, which jumped from...