Word: steel
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Dates: during 1960-1969
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...this time. Bethlehem's move, said Block, would not be a cause of inflation; rather, it was "the result of inflationary forces already let loose. It seems most unfair to relate higher living costs to steel prices when the average steel price has remained steady for several years." Block thereupon announced that Inland too was raising its price on structural steel by $5 a ton; little Colorado Fuel & Iron followed by posting a $3-per-ton increase on structurals...
...Bethlehem had not informed the White House in advance of its plans-though no law or custom yet dictates such action by U.S. businessmen. Lacking stockpiles such as it employed last fall to roll back aluminum and copper prices, the Administration now ordered key Government agencies to buy structural steel only from companies that held the price line. On top of that, Pentagon officials hinted that Bethlehem might lose $50 million in contracts to build two ammunition ships...
...their uncertainty, they are starting to lay off stocks that even though presumably solid are still relatively cheap and considered to be speculative. At the old year's end and the new year's start, the heavy buying was in blue chips. Among these, of course, were steel stocks, and presidential approval of Roger Blough's pricing diplomacy sent steel stocks...
...York. The situation, however, annoys European governments and agencies whose own issues are shouldered aside in the rush for American issues, which pay less interest but often have the attraction of convertibility into shares of common stock. Recent Dutch and Finnish bond issues sold badly; the European Coal and Steel Community has postponed a $20 million issue in view of market uncertainty as has the Transalpine Pipeline Co.; the Swiss bond market has sagged 10% in recent months as investors have sold European holdings to buy American. Europeans are increasingly waspish about the disproportionate share of their limited market that...
...still accounts for nearly one-third of the world's air-transport fleet. It has always thrived on abuse. Designed for 21 passengers, it has carried as many as 72. During the 1948 Berlin airlift, one set down on the runway with 13,500 lbs. of steel beams -twice the safe maximum load-blowing all three tires. The authors, both U.S. Air Force officers, have also overloaded their favorite plane with a lot of World War II heroics. But their love is palpable-the book itself is a retool job on an earlier book published...