Word: youngstown
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Dates: during 1950-1959
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...nine-month earnings well ahead of last year. Third-ranking Republic reported a net loss of $24,861,406, biggest quarterly loss in its 60-year history. But because of a record second period, Republic's nine months' net was $2.69 per share v. $2.50 last year. Youngstown Sheet & Tube Co., No. 6 among the nation's steelmakers, had a third-quarter loss of $7,149,660. In the first nine months of 1959, Youngs-town's net was $6.20 per share v. $3.32 last year...
...long-postponed shelves. Stores that grant credit freely have fared much better than those with no credit plans. "We're hurting and hurting bad," says Assistant Manager Robert Engler of a cash-only dime store on downtown Federal Street. But Bertram Lustig, owner of seven Youngstown shoe stores, says that "surprisingly, September was a pretty fair month. What saved us was credit. We've sort of become a bank...
Since early August, 2,855 Youngstown steelworkers and their families have gone on relief (average payment: $20 per month per person), but the strikers on relief, mostly Negroes and Puerto Ricans, make up only 9% of the city's 31,000 steelworkers. The others are scraping along on the savings that they hoarded up in anticipation of the strike and on the liberal credit granted by Youngstown's strike-seasoned merchants...
...when the strike started, but now he is a month behind on his mortgage payments, has yet to pay the doctor bill for the operation his wife underwent last June, and is wondering how he can scratch the $160 he still owes on his son's tuition at Youngstown University...
Even with their problems of money and morale, Youngstown's steelworkers and their families are neither angry nor restive-not yet, anyway. "We've had a steel strike in the Mahoning Valley almost every two years since the war," said Union National Bank President Asael Adams Jr. "There's very little clamor or bitterness. People are quiet and peaceful. Maybe they're getting used to steel strikes." Added Steelworker Matt Inchak as the strike stretched into its twelfth week: "I'll stay out twelve more weeks if we have to. I've been...