Word: smelters
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...price will go still higher if strikes shut the big mines. Says American Smelting & Refining's Vice President Simon Strauss: "Copper consumers have long memories. They remember the copper shortages of several years ago, which were politically rather than economically caused." Strikes have already shut one U.S. smelter and threatened the big mines of Northern Rhodesia. Copper buyers are also hedging the possibility of a strike June 30, when the contract of the International Mine, Mill & Smelter Workers expires. Thus copper experts expect the price to go still higher. But when labor peace is assured, they think it will...
...metals interests quietly began buying Aluminium shares. Although the company came out of World War II wjth 3.7% of world aluminum production, timid sales policies had cut its share to .9%. But it had a reputation for quality, plus substantial assets and a promising moneymaker in its new smelter at Baie Comeau, Canada. Last April, apparently afraid that Reynolds or some other aggressive U.S. concern would buy control, Aluminium's chairman, Viscount Portal of Hungerford. got stockholder approval to boost the firm's shares from 9,000,000 to 13,500,000, sell the extra shares for expansion...
...Bull" Connor is a big voice in Birmingham, where a smelter economy, stamped onto Alabama's rural culture, makes a melting pot of raw men as well as raw metals. Birmingham, settled six years after the Civil War, is no repository of genteel Southern tradition and or moderation, has been keyed to violence, whether labor troubles in the 1930s or desegregation in the 1950s. And Birmingham's white country people, teeming in from piney woods to steel mills, view desegregation less as an abstract threat to be fended off by lawyers than as a specific, bread-and-butter...
...consider stabilization plans only short-term, stopgap methods of straightening out world markets, are convinced that they are as harmful as farm price supports-and will work no better in the long run. Says Simon D. Strauss, vice president of American Smelting & Refining Co., the world's largest smelter and refiner of lead, zinc and copper: "Such agreements, in the short run, would restore order to the market. But, for the long run, metals restrictions are useless. They usually protect the weakest, least efficient party to the pact...
Clinton E. Jencks, Southwestern official of the Red-led Mine, Mill & Smelter Workers, would probably be surprised if anyone seriously accused him of being a nonCommunist. But in 1950 Jencks signed a non-Communist affidavit under the Taft-Hartley law-and was duly indicted in El Paso, convicted of perjury and sentenced to five years in prison. Last week the Supreme Court granted a new trial to Defendant Jencks, and in so doing knocked over applecarts all across the U.S. security scene...