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Europe's basically mild industrial recession has piled 8,500,000 tons of cheaper, small industrial coal at British pitheads over the past 15 months. This coal is too fine for householders' grates, but the British National Coal Board thinks that it can now boost output of domestic coal high enough to meet the expected demand. The British also believe that the industrial coal recession is temporary, and that Europe's "energy gap" will, in the long run. assure plenty of furnaces for Britain's coal...
True or not, there is plenty of pressure from all sides. London's Economist calls for a 300% hike in the price of gold to bring it in line with other increases, and every miner hopes for a price boost to pay rising costs and improve profits. A more important argument for a higher gold price is that it will help foreign trade. Financial men argue that the world simply does not have enough gold. South Africa's W. J. Busschau, manager of the New Consolidated Gold Fields, Ltd. and one of the world's leading gold...
...Both Houses voted a 10% pay boost, retroactive to January, for more than 1,000,000 federal civil servants. Added annual cost: $542 million. <1 By a 12-1 margin, the Senate Labor Committee approved Jack Kennedy's labor-reform bill requiring unions to hold secret ballot elections at least once every five years, report to the Government on where the money comes from and goes. Kennedy managed to draft a bill that was both 1) hard-knuckled enough to win the indispensable endorsement of Arkansas' labor-investigating John Mc-Clellan, and 2) so kid-gloved that...
...selling for less than Brazil's rigidly fixed prices, the most optimistic export prediction is 13 million bags, worth $800 million. The Brazilian government has already paid for 15.4 million bags of surplus coffee it now holds, and the new 22 million-bag crop now pouring in could boost the surplus another 9,000,000. Next year's estimated crop: 24 million bags...
...Point. A casual bargain picked up at public auction for $792, Hard Ridden repaid Millionaire Banker Sir Victor's investment with a Derby winner's $56,000 purse. CJ Although they seem stuck in the second division of the American League, the Detroit Tigers finally managed to boost themselves out of baseball's sociological basement. Third Baseman Ossie Virgil, native of the Dominican Republic, was called up from the minors, became the first Negro to play for the Tigers. Sole survivor from the old days of lily-white big-league ball: the Boston Red Sox, who have...