Word: wool
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...auction rooms of Melbourne, Australia last week, wool prices tumbled from $566 a bale to $466, the sharpest break in history. Reason: U.S. buyers had pulled out of the market in an attempt to force prices down. They were taking their cue from U.S. consumers at home, who were also staging something like a buyers' strike. Department-store sales for the week ended March 31 slumped 14% below the corresponding week last year (two weeks before Easter). Business inventories in February piled up to a record $65 billion...
...Frontiers. The Du Pont revolution is still growing. President Greenewalt himself has been testing a new suit, made of Du Pont's newest synthetic fiber, Dacron. It looks and feels like wool, but outwears it, costs only half as much, is washable and mothproof-and is virtually wrinkleproof. Says Greenewalt: "The only way you can get the crease out is with an iron...
...Pont is now completing a new plant at Kingston, N.C. to put Dacron into mass production in 1953. The fiber may well do to wool what nylon did to silk...
...nylon, the revolution is still going on. Once Du Pont made most of its nylon components out of coal. But when coal (like wool) went soaring sky-high in price, Du Pont built a huge plant on Texas' Sabine River, started making the raw materials from natural gas four years ago. This week Du Pont is opening a similar plant at Victoria, Texas...
...from bidding the price up again, the National Production Authority this week took control of all tin imports, announced it will allocate tin to industrial users. There seemed no reason why the same tactic could not be employed to bring down the price of other commodities, such as lead, wool, zinc and tungsten...