Steel Prices Seem In For Yet Another Boost Soon

gy wst.ri:n nnasznn Jr. xtgv YORK CPT-Running I N...-p x, ft-citing I family or just. ,...t nv:-all these things now eostt money than ever be'ore. technical name for this who of affairs is "inflation." For will? time now, with Industrial "production easing off and business

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GROUP SUPERVISOR

it

GEORGE B. DeMONE vtlin. it has been anounced by The llnnllnlon Life Assurance Com-

ny, has been appointed Mari- lllllP (iroup Supervisor. Mr. De- Mime is qualified to consult with ton in connection with Group Life '1n.ut-once. Accident and Health (moi-age and Group Pensions. He can he reached by contacting the Dnminlfln Life Office at Ill Graf- tnn St . Box 367. Charlottcown.

Mild Increase In Demand For Steel In The U.S.

CLEVELAND (AP)-Steel mag- mno notes I "mild pickup in de- mi" and says hopefully todaythat mand" and says hopefully today tnpsleel consumers can't go on much longer "llving off their In- t-entorics."

Meanwhile. steel production con- ilnuos to ease off. with output last sack at 84 per cent of rated ca- parity, I yield of 2.149.972 net (MS. This wt. a drop of 2.5 points from the preceding week and 14.5 ptvlnh under the year's high of its per cent in mid-January.

The metal-working trade weekly ox: steel consumption has been mu-citing demand this year but mt when invcntory consumption in. bz.n exceeding demand this 3.1:" but that when inventory re- tI.(llIlIl runo " course consumers kill time to buy at least as much 2. they use. "Many can't be far Porn that position now." Steel pills. . Consumption should re- lilaill high. the trade magazine pllt”(II('iH. noting that unfilled or- am for durable goods. while I little lower than they were at the wart of the year. are eight per rrnl higher in dollar volume than tit-v were I year ago.

Demand is "perking up." Steel tau, chiefly for cold-rolled and hot-rolled sheets. hot rolled bars ind merchang pipe.

The uptrend in scrap prices that began at the end of April con- tlhlle!- Stet-l's price composite for strclmaklng scrap was up 81.67 to Iititi7 I gross ton in the week ended May 22. The price compos- ite was at 841.50. the lowest mark in far this year. April 24.

.Vluch of the recent increase. steel said. results from broker bid- mna to get scrap to fill orders on hind. Lower production in the mctsi-working industry - particu- larly in the auto plants-is reduc- ing the generation of scrap.

Slight Decline in N.Y. Stocks During Week

MZW YOR K P) - The stock market receded sllgl.tly last week in the area of its brand net. H61 highs. it we sti.e market's first weekly ctreat in 1: weeks.

The Associated Press average of M stm-ks dipped 40 cents to ltR4.5f). This left it still within the inne nf the string of new high; H- the war established in the III! I. ti ut'('l(a but 00 cents below the dot"-ti hitth, Ihlished on Mon- HY

An indication of the renewed in- terest in the market was the fact that I seat on the New York Stock ixchsnge was old this week for 889.000, the highest price of 1957.

has ms'-r steels did little at the industry failed to match the sched- ”iHI operating rate for the prior I

e five most Icllve isspes lIsl t .-eit on the American stock Ea- rl like were: g - llrfv-Rainbow Oil. up is It )- ota on llttm shares: CIIIIIIII Afis.tttc oil. H0 at : Molyb- dcnlte. up 5-! It IQ; mt. pg. ryieom. off Vs It DUI; and Atlas Wt. Wan-Ints.,Ip is at us.

Am-ms other Canadian

steady at III five most active Issues last week on the New Yuk sues II-

thmsn wars: "Out: on. M. I I an iss- Ihuss: on like in-err. as .1 ; soon. Mhlteel off at ;Geasral

activity slackening here and there. you've been hearing less talk about inflation. But this week. inflationary signals were flying again at several key points on the United States economic scene. .

Steel industry leaders. attend- ing the annual meeting of the American Iron and Steel Institute. reminded that steel prices are due for another boost soon. some said the July increases are likely to be larger than the hikes of 85 to 37 I ton Predicted earlier.

Inflationary trends were appar- ent, too. in the latest U.S. do- partment of labor report on living costs. The department's consumer prics index for April was the highest yet: 119.! per cent of the 1917-49 average. Food costs paced the upward move. but people also paid more for furniture. housing, medical care. amusements. hair cuts and transportation.

RECORD OUTPUT SEEN

A congressional committee fore cast I stepped-up rate of general business activity in the months ahead. it said "gross national product"-the total dollar value at all goods and services pro- duced and sold-should soar this year to I high of Gross national product in 1966 totalled Ml2.000.000.w0-

Here's what the committee had to say about major business trends for the rest of 1957: Spend- ing by individual consumers-and by federal. state and local gov- ernment Igencies-"'ill continue to increase. Spending by corpor- ations on new plant and equip- ment may level out on I high plateau. Money and credit will continue "tight."

Incomes and prices will con- tlnue to rise. The Inventory liquid- ation now going on in many lines should be of short duration be- cause sales of finished products to '” t u are going along at I good clip. The coin- mittoa would up with this obser- vation: the bars voiced by many businessmen earlier this year have "noticeably lessened."

Harolow i-l. Curtice. president of General Motors. told stock- holders that sales of new auto- mobiles of all makes in the United States this year should Just about match last year's total of 5.850.000.

It wasn't too long him that auto manufacturers were talking about I 6.500.000-car year. This week. in his talk to GM shareholders. Cuitice said the market for pas- senger cars and trucks "has not measured up to expectations."

Laura loin Group Hod Regular Meeting

The regular May meeting of the Laura Rain group of the Sum- merside United Baptist church. met on liionday cvcning in the Spring street hall to affiliate with the C- G. l. T. Members were ser- ved with samples of Bolivian food before the meeting opened.

Gall Jenkins conducted the de- votional period. The hymn. "Je- sus Stands Among Us" was sung. followed by scripture and prayer. Ellen Crossman. Gall Morrison. Eleanor Reeves. and Florence MacLeod each gave I short de- votional message. Hymn. "Jesus Shall Reign" was surut.

The president of the Laura Bain. Mrs. Elmer Newson. conducted the affiliation service and It the end each member of the C. G. i. T. and Laura Bain lit I candle. Jean Vaughan. Jane Graham. Janet Morrison. and Carol Jen- kins were dressed in Bolivian costumes. Each of the above re- presented mission fetid In Bol- ivia and told some thing of the locality and of the work carried on there. ..

Meeting closed by singing "0 Love That Will Not Let Me Go." Mr. Bcck showed I film on t h I life and customs of La Paz. Bol- Ma-

The business meeting followed. The nominating committee brought in I new slate of officers for the ensuing year. and they were duly elected as followszhon. Pres-Mrs. C B. Jelly; president-Mrs. Vera Waugh; vce-president-Mrs. Harry Crossman; secretary-Mrs. Faw- Frank Jenkins. Mrs. Elmer New- son, Mrs. Nelson Macltay. and Mrs. George Smith. Meeting Id- iourned. Lunch was served by the following hostcsses:Mrs- Roy

Lidstone, Mrs. Harry Cannon. Mrs. George smith. and Mrs. Fawcett. .

Miss lorboro Jewel Addresses Groups

About one hundred Explorers and C. G. l. 1'. members from surrounding districts met in the ISICTHIDI; Hall of Kensington Un- ited Church on Tuesday afternoon. May 7th. . .

Miss Barbara Jewel. children's work secretary from Toronto. met with the Explorer leaders II the afternoon and the C. G. l. 'i'- lead- ers at night. she suggested many valuable ideas and helps for lead- ers. and inspired them with the importance of the task and PI'IV0l- ega of working wici the you I g . '" . also addressed the Explorer groups. and taught the C. G. l. T. new games. Mrs. L. M. Morris. Presbyterial C. G. l. 1'. secretary. assisted by Miss Jean M . conducted I games perio . ia the afternoon for the explorers.

Under the direction of the Prer nytmgi secretary of Affiliated Explorer gonpg. Mrs. liair And- rew, New Glasgow. an interest- ing program was presented. which

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explorers: elclrellt gtarside Explores. Jeaaio V Charlottetown. taught a k

I itlnkora c.w.i..

Held Annual Meeting

The annual meeting of the Kin kora Sub-Division of the Catholic

'Women's League was held in the

grade ten classroom. Sunday aft- ernoon. May lath at 2 p-m. with

' thirty-nine members p r e s e n t

. The meeting opened with pray- ers led by Father Croken. The minutes of the last meeting were read and adopted. A Thank You note was read from Mrs. Bennett Carr. on motion. Mrs. Henry Tralnor was appointed as conven-

er of resolutions. with Mrs. use for organising C. W. L. units is

garet Macualion and Mn. PIrn- different parts of the

ell McCIrville to assist her. Mrs. Desmond Callaghan reported that I pantry sale could be held in l-iolman's Store on Friday. May 21th. It was moved and seconded. that the different units appoint their officers at the first unit meeting after the annual meet- ing. Five dollars was voted for flowers for the May procession. The president gave a wonder- ful report of her two year term, in office. She thanked Father

pariah. which resulted In more members in the sub-division and donor con- tact with all the members-

Tho secretary and treasurer read their reports which showed I very successful year financially as well Is spiritually. The mem- bership and publicity conveners gave their reports followed by re- ports from the presidents of the various units.

It was moved and seconded that Mrs. Ralph McCnville and Mrs. Pope Maclllahon Issist Mrs.

Croken for his help and eapeciall Lorne McCarvillo on the nominat-

ion committee in the absence of two of the members, .

The following slate of officers were elected for the coming year. President-Mrs. Raymond Smith: lat vice-president-Mrs. Earl Duf- Iy:2nd vice president-Mrs. James Lorne M('Cai'VlllE; treasurer-Mrs, PDPG Mchiahon: councillers:Mrs. Parnell Mt-Carville. Mrs. Austin Hammxll. Mrs. Ray Johnston. Mrs. Joseph Mulligan and Mrs- Desmond Callaghan.

Father Croken thanked the re- UND3 executive and congratulat- ed the new officers on their Ip- pointment and asked the mens-

Gomlnd I-Ii'Y Cluli Hos Regular Meeting The regular meeting of the

Gamma Hi-Y Club was held in the Y centre on May 14. The prese-

be-rs to support them. He referredl

to the Catholic Women's League as his right hand in any paiish work. He also suggested having I closed retreat for the member. in Kinkora Concent this summer. Mrs. Clayton Mccabe moved I vote of thanks to the retiring of- ficers. Meetlng adjourned.

dent. Lorraine Cameron was h. the chair. The meeting began with the Hi Y ritual followed by the Lord's prayer. The i of the last meeting were read and adopted. The roll cau was read. and 22 members were present. The treasurer collected dues which amounted to 2:16. Arrangements were made for our dance in the Y Centre on Saturday night. Mr. Keith Lapp and Mr. Barry Hol- man spoke on I protect of selling ”Life Savers" for I world ser- vice project.

An election for the next Yearis officers was carried out. They are

Monday. May 27. 1957 The Guardian Page 13

II follows:President. Joy Nichol- son. vice pxesident. Marjorie Iro- land. secretary. Arlene Moore. treasurer-Arlene Bernard.

The meeting was moved adjour- ned and closed with the singing of ”God Save The Queen."

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