Word: scraps
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Oldtimers got it too. The Untouchables has been given the St. Valentine's Day treatment after four years. Have Gun, Will Travel and The Rifleman, six and five years old respectively, are headed for the last roundup. Car 54 will soon be roughly three cubic feet of crushed scrap steel. Naked City, the fine semidocumentary on New York police work filmed in the city streets, is finished too. The last vestiges of live, prime-time drama, the U.S. Steel Hour and Armstrong Circle Theater, are also passing away. Moreover, all three college-level educational shows are leaving the networks...
Ralph Ablon has no intention of letting his own company be scrapped. He has brought big company management to a fragmented, ruggedly individualistic industry that was created by penniless Jewish immigrants who scooped up junk in back alleys, made fortunes overnight and handed down their small businesses from father to son. Ogden's Luria research department, the industry's first and biggest, is now testing a contraption to reduce a whole auto to egg-sized pellets that could be easily stoked into oxygen converters or other furnaces. In a business long suffering from an inferiority complex, Ablon...
Rich in folklore, controversy and profits, the scrap industry is an unglamorous giant that has been spoofed, needled and assailed by writers from Charles Dickens to Garson (Born Yesterday) Kanin. The public insists on calling its chief product junk, but this affront has not prevented scrapmen from making millions by marketing the oddments that other people throw away. To the steelmakers they sell rust-worn barbed wire from the farms, torn-up tracks from the railbeds and used appliances tossed out by housewives. They move mountains of junked cars into grasping incinerators that burn off paint, cushions and fixtures, then...
After earning tall profits and extravagant criticism in times past, scrapmen are now faced with soft demand and sluggish prices. No company has been hit harder than Manhattan's Ogden Corp., the world's biggest scrap company. Last month Ogden reported that sales-30% from scrap and the rest from other activities-dropped from $436 million in 1961 to $406 million last year; its Luria scrap division lost money for the first time in its 74-year history. Ogden's candid President Ralph Ablon, 46, admits that the scrapmen's current troubles stem partly from their...
Down to Size. While steelmen in the past mixed about 50% scrap and 50% molten iron in their furnaces, they have devised ways to use only 45% scrap today. They have spent billions to build new "basic oxygen" steel furnaces that use barely 25% scrap and to open new iron mines from Labrador to Liberia. The scrap-men have also been hurt by five years of sluggishness in steel demand. Scrap prices have dropped from an average $53.50 a ton in 1956 to $28 today, and exports have plunged from almost 10 million tons in 1961 to barely...