Word: strike
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Dates: during 1950-1959
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WASHINGTON, Nov. 2--Federal mediators shuttled between steel industry and union negotiators today. When it was over Steelworkers Union President David J. McDonald said there was "absolutely no headway" toward ending the 111-day-old steel strike...
Lawyer Doub ticked off the Government's view of the steel strike's ugly impact. With 87% of the nation's steelmaking capacity shut down since mid-July, the strike had hindered urgent missile, space and nuclear-submarine programs. If the strike dragged on, secondary layoffs resulting from the steel famine would soar to 1,275,000 by the end of November, and 2,500,000 by the end of December-not counting the 500,000 striking Steelworkers...
...steel strike's effects continued to mount last week, one thing was certain: except in the steel industry itself, the strike had little effect on third-quarter earnings. Automakers, tobacco, chemical, oil and electronics producers all reported new highs. For most, third-quarter earnings were running about 20% ahead of the same period last year...
...Miami Beach there were opinions to fit every account. Said Louis E. Corrington Jr., president of Chicago's Southmoor Bank & Trust Co.: "Right now, money is the tightest I have ever seen it. It will be worse after the steel strike is over and companies start building inventories and go to the banks to borrow." Said Russell H. Eichman, vice president of Cleveland's Central National Bank: "If the steel strike requires a slowing up of auto sales, that in itself will automatically ease the tight money situation." Said Scott L. Moore, president of the American National Bank...
Alexander believes there may be more jiggling of rates when holiday financing steps up and the steel strike ends. But, he says hopefully, "there is a good likelihood that the worst pressure on rates is past. A sustained strong upward force is unlikely." He does not think that tight money will harm the boom: "The supply of money and credit is not exhausted. The banking system is heavily loaned, but not loaned up." He is not concerned about high money rates, points out that for long periods short-term rates wrere actually above long-term yields. Says...