Word: youngstowners
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Counterattack. In Youngstown. Ohio, when an elementary school was broken into, detectives traced the act to three small boys but failed to recover the one stolen item-the principal's paddle...
...Youngstown, Ohio...
Steel stocks, which have helped lead the market up for the past two months, turned about last week and led it down again. All major steel issues sagged badly, from Armco's slide of 3! points to Youngstown Sheet & Tube's dip of gf. The main reason was a sudden pessimism, largely touched off by a gloomy steel report front-paged in the Wall Street Journal, and sent over the Dow-Jones ticker, which said that demand is disappointing and inventories are building up too fast. Steelmen thought the report was far too pessimistic...
Though ODM's decision sorely disappointed steelmakers, there were few cries of real alarm. Bethlehem Steel Corp. and Youngstown Sheet and Tube Co. announced that they would review expansion plans; Jones & Laughlin Steel Corp. said that it would be forced to reappraise plans for a new $250 million mill planned for Houston. But most steelmen had already decided that they have to expand one way or another to meet their growing markets. Republic Steel Corp. will still continue with its $187 million expansion program; so will Pittsburgh Steel Co., National Steel Corp., Armco Steel Corp. and Inland Steel...
...which the future health of the nation depends. Though new business starts were 14% higher than 1955, business failures increased even more-to 17%. At year's end a major test case filed by the trustbusters to block the merger of Bethlehem Steel (No. 2 steelmaker) and Youngstown Sheet & Tube (No. 6) gave businessmen hope that the courts would lay down a new philosophy to guide the growth of the giants as well as protect the midgets...