Masonry Magazine April 1967 Page. 33
domestic zine production.
Supplies of copper, manganese, and molybdenum are becoming more plentiful, and this is showing up in leveling or declining prices. There are still a number of cases, though, where limitations on supply will keep prices firm. Chromite ore, to cite one case, shows the effect of sanctions on Rhodesia.
Chemicals are one group still showing price strength. For example, the sulfur products are moving up as a result of the rise in raw sulfur caused by still heavy demand and by restricted output as well. But even many chemicals prices will lose their strength if the economy weakens much more.
THE BUSINESS SLOWDOWN IS GIVING MANAGEMENT NEW ARGUMENTS
THE BUSINESS SLOWDOWN IS GIVING MANAGEMENT NEW ARGUMENTS to use in countering union demands for out-sized wage increases. But it is doubtful that the arguments will make much impression. One point that industry will be stressing, of course, is the profits outlook. It is clear now that many lines will be suffering losses of 5% or more this year. And they will be able to cite lagging first-quarter figures to back up their case. But the unions are sure to rebut with the White House's estimates of a 2% increase for this year and the solid gains registered during the past year as well.
The marked slowing in the rise in the Consumer Price Index will also be used as a bargaining lever. Labor will counter-attack by noting that spendable take-home pay-deflated for price increases-is actually down from a year ago. And the union economists will stress that the leveling Index has been mainly a product of falling food prices-which can rebound.
IT'S CLEAR NOW THAT THIS CONGRESS WON'T ACCOMPLISH MUCH
IT'S CLEAR NOW THAT THIS CONGRESS WON'T ACCOMPLISH MUCH this year. With this session approaching the half-way mark the record is very spotty. The debt limit has been raised, a deficiency has been approved, and the 7% credit restored. But the appropriation has been passed, the Soviet consular treaty numerous requests for legislation that the President has submitted are still largely bogged down in committee. Many are likely to stay there.
The big Republican gain in the House has put one brake on the President's program. War and the already large deficit are a block to certain new programs, though many existing ones will be allowed to grow. Democratic leaders are rather reluctant to push measures they know will not pass. Some suspect Johnson would rather have a record of requests to show the voters next year than a string of rough battles.
-Bills like to pass include new Social Security
-Bills that won't make it include-as noted- the 6% surtax.
(Continued on page 40)
MASONRY. April, 1967
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