Masonry Magazine July 1969 Page. 35
Washington Wire
(Continued from page 18) pressure on Congress to extend the embattled surtax in the form President Nixon had proposed.
INTEREST RATES SHOULD BE PEAKING OUT
SOME DURING THE SUMMER, as a result of the accumulation of restraint being brought to bear on the U.S. economy. The business cooling should be reducing demand for credit at least a little. But that would be enough to end the sharp surge...and even allow some ease from the record high rates of interest that banks have to charge these days.
Some big institutional investors-mutual and pension funds have already stepped up their buying of bonds, to lock up the juicy interest rates now available before they can drop.
THIS IS THE TIME FOR BUSINESSMEN TO
GET THEIR COSTS under control, say economists in Washington and in industry. They see a profits squeeze coming-unions pushing for wage hikes but price increases harder to impose. Actual profits will fall for many companies that fail to save on overhead.
Control of costs gets a little careless in good times, when rising sales volumes generate good-sized gains in earnings. Industry gets tolerant of waste when net is rising strongly.
NIXON IS SHAPING A VERY TOUGH ANTI-
TRUST POLICY, aimed at preserving competition by attacking those practices with a potential for hobbling it. His antitrusters have already brought several significant landmark cases. Specifically, they have slowed down takeovers by the glamour conglomerates, using present law. But they will ask for new legislation if that is needed.
Some other areas the Justice Department will be hitting:
-Price-fixing by patent-holders of items made under license.
-Forced reciprocity, where large firms make suppliers buy.
-Any mergers involving the country's 200 largest companies.
The Republicans boast a strong antitrust tradition. They were very active in this field under Dwight Eisenhower, too.
BUYING AND SELLING A SMALL BUSINESS
is the title of a new pamphlet brought out by the U.S. Small Business Administration. The 122-page guide provides full details on things to include in a deal-and to watch out for. Copies are 75 each from the Supt. of Documents, Washington, D.C., 20402.
AFTER NIXON'S FIRST SIX MONTHS IN OF-
FICE-how has he been doing? Quite well, over-all, is the verdict of most veteran Washington observers, not all of whom have been admirers of the President or (Continued on page 37)
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masonry • July, 1969
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