Newspaper Page Text
lighter steel means more price increases
3y MATHIS CHAZANOV
United Press International
More expensive steel can only
ean higher costs for manufac
ted goods, two major firms
jlicated Wednesday.
A spokesman for Westing
use Electric said the firm
Is “very concerned” about
ireases in the cost of raw
aterials. A Generali Motors
bkesman said GM, which has
ready asked for price in
feases on 1974 model cars,
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was “leaving the door open"
for further hikes because of the
steel increases.
Kaiser Steel Corp. Wednesday
joined other steel manufactur
ers in giving notice of price
hikes. Its request was “modest
in relation to our cost in
creases,” Kaiser said.
A number of steel companies,
including U.S. Steel and Beth
lehem, have given notice under
the rules of the Phase IV
economic plan that they plan to
raise their prices about 5 per
cent on some products after 30
days.
In other developments:
—The administrator of the
U.S. Agricultural Stabilization
and Conservation Service said
fie sees food prices leveling off,
and even coming down a little,
but not to the levels they held
in the past “We now see the
world demand at a record
level,” said Kenneth E. Frick
at a San Francisco news
conference. “We are moving
out of a period of surpluses.”
He said he expects record
crops of corn, wheat and
soybeans this year and “full
supply to the housewife over
the next six months of
everything, including meat.”
—ln New York, the city said
food prices rose 4.5 per cent
last week—the largest increase
in three months. “We had
anticipated price increases in
meats and poultry,” said
Consumer Affairs Commission
er Betty Furness, “but now
those increases are also appar
ent in grain products such as
bread and flour.”
—The Agriculture Depart
ment in San Diego, Calif., said
approximately 10,000 of the
30,000 cars crossing the border
at Tiajuana last weekend were
carrying meat bought at
inexpensive butcher shops in
Mexico. The department
warned that eggs, poultry and
Page 13
pork are banned for fear of
disease.
—Wheat dropped sharply in
price after hitting a record
price of $5.14 a bushel for
September futures in trading on
the Chicago Board of Trade.
September wheat futures closed
at $4.87% to $4.89% a bushel,
compared to Tuesday’s closing
price of $4.94.
—The Ukranian Hut restau
rant at the Erie County Fair in
Buffalo, N.Y., won’t be serving
— Griffin Daily News Thursday, August 16,1973
its usual specialty of stuffed
cabbage this year, according to
Mary Burnicki. The organizers
Unitas files suit
BALTIMORE, Md. (UPI) -
Johnny Unitas, 39, professional
football’s all-time leading pass
er, filed a $725,000 suit Tuesday
against the Baltimore Colts, the
NFL franchise he quarter
backed to fame and three world
can’t get enough beef at the
right prices to stuff the
cabbage, she explained.
championships during his 17
years here.
The suit alleges Colts General
Manager Joe Thomas ordered
Baltimore coaches last year to
bench Unitas in favor of Marty
Domres, even though Unitas
“possessed the capacity to play
on a regular full-time basis.”