Word: wool
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...peace-vulnerable aircrafts) as much as three points. This week the drop continued; in one day the Dow-Jones industnal index fell 5.93 points to 274.10. The heaviest selling began in commodities, not only on US. markets, but on Europe's bourses In the U.S., futures contracts in wool, rubber, sugar, soybean oil and grains went tumbling. In one day, the Dow-Jones index of commodity futures fell 2.69 points, biggest drop in two years...
...significant than the ups & downs of the stock market, since it is the prices of raw materials that, in the long run determine many retail prices. And even hough some retail prices are still rising the worldwide price trend, forecast by commodities is downward. Many of the commodities, like wool and rubber, which had the biggest rise right after the Korean war, have had the sharpest fall since. The Government's index of all commodities (2,000 separate items) is not far above its pre-Korea level, but some key commodities (e.g., fats, oils and fibers) are below...
Then the Secretary lifted his sights from dairymen to all farmers who are losing markets through Government-rigged prices. He pointed to cotton (synthetic fibers, such as nylon and rayon, now account for the equivalent of 3,300,000 bales of cotton a year) and to wool ("The public ... has been sold on suits, rugs and other products that contain high proportions of fiber other than wool"). If these price-supported industries had been fighting to hold or expand their markets, they would not have become the victims of such deep inroads from competitors...
...American" Act, plus a complete overhaul and simplification of tariff schedules, with an average rate cut of about 33%. Some 8,000 present tariff rates should be boiled down into a few clearly defined categories; tariffs and import taxes on such items as petroleum products, metals, wool and many manufactured goods, including machinery, autos and appliances, should be lowered or eliminated...
...fact, says Budu, Stalin thinks of himself as a dyed-in-the-wool conservative. He married his first wife (Budu's Aunt Keke) in church to please his mother. When a friend felt that Stalin was spanking his son Vassily (now air commander of the Moscow military district) too severely, Stalin retorted: "I'm the father of this little brat and . . . he's going to be brought up in the Georgian fashion. I'm not going to have him turn into a ruffian-like the sons of most of our high officials...