Word: steeled
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Dates: during 1950-1959
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Plow-Backs. In Brazil, 23 of the 56 top stocks on the Rio and São Paulo exchanges are joint ventures. Japanese interests hold 40% of the USIMINAS steel plant (annual capacity: 500,000 tons), U.S., Canadian, French and Israeli interests are partners with Brazilians in seven cement plants. In Argentina, Kaiser Industries, which makes 2,500 vehicles a month, is owned 51% by Argentine stockholders, 16% by the Argentine Air Force, 33% by the U.S. parent firm...
When the sun set, the balloon cooled and dropped to 68,000 ft. Commander Ross dumped 300 lbs. of "sunset ballast" (mostly steel shot) to boost it up again. Though the gondola was insulated, it soon grew deathly cold. Both men shivered so hard that they literally shook the whole gondola. When Venus finally rose at 3:30 a.m., Moore started to turn the telescope toward it. But whenever the men moved, the gondola corkscrewed and rotated, vibrating all the time from their shivering. "It was very hard to point in a given direction," says Moore. "It showed that Newton...
After a year of the tightest money since the 1920s, the U.S. last week experienced a slight easing in the general demand for funds. It was partly due to the depressing effects of the steel strike and industry's uncertainty about investing heavily in inventory before a settlement is reached. But the Federal Reserve Board also eased money to take care of the usual extra demands around Christmas by permitting member banks to count a percentage of their vault cash as reserves, thus in effect adding some $1.4 billion in lending power...
...sold its 13-week bills at 4.5%, the highest point in history for its shortest-term borrowing, partly because only the week before it had drawn heavily on short-term funds with a $2 billion offer of 320-day bills at 4.86%. Bankers expect even greater pressure when a steel settlement is made and a rush for supplies and postponed expansion exerts new pressure on the money market...
Despite President Eisenhower's call for a swift steel peace (see NATIONAL AFFAIRS), management and labor could agree last week only to continue disagreeing. Just before both sides met with federal mediators for the first time since a Taft-Hartley injunction sent the workers back to the plants, the steel industry announced that its earlier offer of 30?-an-hour package spread over three years was its "last offer for a strike settlement." This so incensed Steelworkers President David McDonald that he walked into the meeting heatedly waving a copy of the statement. He repeated union arguments that...