Word: gluts
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...show merely quivers on the launching pad. Its book is drab and uninventive; its songs are also-rans, though the trumpet-tonsiled Merman voice is always in the winner's circle. Jerome Robbins' dance spoofs are designed to show how funny-awful vaudeville was, and by sheer glut and garishness turn pretty gaudy-awful themselves. A Mermanly try at playing up Mama's spunk and jollifying her sadism fails when the script itself belatedly acknowledges that Mama is a bundle of neuroses and no fun to be with. Sandra Church's Louise is poignant and luminous...
Less than a year ago, the U.S. had such a glut of copper that the industry was asking for tariffs and subsidies. By last week copper supplies were, so tight that the price of copper was bobbing like a puppet. Custom smelters, who had been selling copper at 32? a lb., got out of the market for a week, came back at 34?-a lb. Major producers were selling copper at 31? a lb., v. last year...
...unhappy exception in the generally flourishing economies of Western Europe is the coal glut; mountains of coal rise high alongside the smoking industrial chimneys. More than 14 million surplus tons clog Germany's Ruhr, and 20,000 miners have been laid off. Continued production at Belgium's notoriously uneconomic Borinage shafts (TIME, March 2) added to the stocks of 7,000,000 tons of coal already piled up in Belgium, so that, as one coal producer put it, "we literally have no more room anywhere to put the coal we produce which nobody will...
...glut is giving the six-nation European Coal and Steel Community the severest test of its six-year history. Eliminating frontiers and the barriers that go with them, the Community had progressed smoothly on a rising market. But coal's current slump provides a painful reminder that although barriers may technically be gone, barrier mentality is far from dead. The pressures of economic self-interest have begun to resist the supranational powers originally granted by treaty to the Community's nine-man High Authority...
...small, obsolete and uneconomic. As in the U.S.'s depressed Harlan County, Ky. (TIME, Feb. 23), coal seams are ever deeper and narrower, and the extraction cost is far above that of the big, modernized mines in the German Ruhr. Last year's recession created a glut in European coal-the surplus now stands at 26 million tons, with 7,000,000 in Belgium alone. The formation of the six-nation European Coal and Steel Community-creating a common market in these products in France, Italy, West Germany, Belgium, The Netherlands and Luxembourg-finally forced the government...