Daily Court Review (Newspaper) - March 19, 1971, Houston, Texas FEATURING STATE AND FEDERAL COURT AND NEWS 81 215 HARRIS FRIDAY AFTERNOON MARCH 1971 SINGLE COPY thirtyfive cents To Meet Orders Steel Mis Operating at Capacity By Bell Production of the steel needed to fill has begun to tax the capability of the nations steel The production push is causing a variety of problems as although expectations of some continues well above Reactivation of old blast fur naces and open hearths that had been relegated to a standby status and use of green crews recruited to man extra shifts has caused in the business magazine With many raw steel facilities operating at about the only way a steel plant to ob tain semifinished steel to replace tonnage lost in production mis takes is to buy it from someone if But theres little extra steel a steel spokesman Pace Levels Off The problems of using marginal equipment have leveled off the pace of raw steel output at an annual rate of 144 million net At this time of year in the previous steel labor contract hedging pushed this rate to about 149 million annual Raw steel production thus far into 1971 is 10 per cent below that of the corresponding period of Part of the difference is attri buted to the fact that some of the steel plant and equipment in reg ular use three years ago has been put on the standby list because of cost and pollution considerations and has not been fully replaced by new Shipping Squeeze Expected There have been no serious ship ping problems yet as a result ol but a monumental deliv ery crunch is expected in late spring as shipments reach a 10 million tons a month average in advance of the expiration of the present steel labor contract at the end of Bank Clearings Debits Credits One steel producer is planning o use Great Lakes ore boats to lelp ease the shortage of and railroad cars for steel trans While steel producers are busy their customers e d g e against a possible strike of steel corkers this most other industries are trying to pep up and improve Theyre using customer service as sales Many companies are trying larder to please and the slower pace of business is giv ng salesmen time to put in a little extra effort with Not to Strike The reduced level of business action of a labor union n A 1 deadline for a strike of United Auto Workers against 65 members of the Detroit Tooling Association passed without the union members walking The tool and die industry in has been hurt severely ay sharp cutbacks in orders from the automakers caused by delays in model Almost 20 Detroit area tool and die companies have gone out of business in the last three and industry sources say more ap pear close to doing Employ ment in the industry in the area has tumbled from about to about in the last three Tax Relief Planned To Pep Up Economy By Lou Schneider Tax relief has been blueprinted by President Nixons top economic advisers should the present poli cies for business recovery fall The cuts in the commercial bank prime interest and Federal Reserve discount magnify the plight of the economy and its difficulty in getting back on the recovery President Nixon isnt expected to break the tax relief news until late spring or early Rea son It will take that long to judge whether the economy is moving or Taxcut hints are already being Stock Analysis Stock FollowUps for Investment Bausch Lomb was mentioned in Thursdays mar ket letter at 62 as having ob 70 and the FDA approved for marketing Bausch Lambs sof lens contact The company said it will begin immediately to make the lenses available to phy and These sales will not have much effect on the second quarter but Daniel executive vice said they expect third and fourth quarter results to real ly Addressograph Multigraph A was very active Thurs It is approaching resistance at A penetration above this could afford objectives to the mid to support is seen in the 3033 Stock is rated a buy on the Hows Business Leading Indicators Brighter By The Babson Staff In our previous quarterly survey of eight economic indicators which tend to reveal reversals of pre vailing trends before actual changes occur in the business cli the statistics were anything but At that we did call readers attention to the fact that this was due in large measure to the effects of the strike An NOAA Basketball Tourna ment thats certain to break all established records is headed for Houston Astrodome March 25 and The best four in college all survivors of vigor ous playoff will meet for the 1971 It is a with two games Thursday March 25 and 840 and two more on March 27 game at and the championship contest following at No games are scheduled on Tickets must be purchased for entire There are no tickets Tom Arnold of the Houston law firm White Durkee will be one of the guest speakers at a Practis ing Law Institute seminar April 22 23 at the Essex Hotel in New York The seminar will con centrate on Trade Secrets To and will review all aspects of the trade secret problem in light of Lear Painton Bourns and other recent judicial Tax revenue from cigarette smokers increased from mil lion in February 1970 to mil lion last Preston Avenue and Trus seeks a state bank hat had slowed business activity or nearly two We predicted that the catchup effort following the strike would materially brighten the total busi ness The most recent early warning be hopeful than gloomy at the present Even taking into consideration the temporary stimuli of GMs re and the inventory hedge against do indeed show a far more optimistic business Once the figures must be weighed with allowance for the temporary artificial influ ence of the strike Where last falls pessimism should not have been seen as more than a passing we should not now be un July impressed by the significant improvement in the economic indi cators for last December and January resulting from the antici pated uptrend following the labor Taking the individual barome ters as now we note that Wholesale Commodity Building Contract and In Stock Prices are still mov ing Along with these favorable de the confidence ele ment is also being bolstered by upturns in Average Factory Work Weeks Manufacturers New when reports on Business Profits for the current quarterly period are a turn for the better will be New Business placed in the im Business failures continue a trou ble there is more reason to covery efforts stockpiling to steel the fundamental eco nomic structure is on a healthier base today than it was at this time a year spread by Treasury Secretary John Budget George and Paul Me who is chairman of the residents Council Economic Each appears to be seeking credit for the Secretary Connally says he is more optimistic than two months but is aware that planned business spending cy isnt a good Their plan ned spending for 1971 shows the smallest gain since It must be pointed out that Fed eral Reserve Board chairman Ar thur Burns had long talked about tax relief to help the economic As previously quoted in this Burns says in times of slowdown and high unemploy ment purchasing power should not be taken from pockets of and Market Trading Continues Strong From the Office of Upborn March 1971 The market opened up strong Thursday and continued to exhibit strength as the session All of our market indicators are still favorable and no distribution is yet On Tuesday we revised our near term objective of 920 on the Dow and have raised it to a range of Unless distribution and churning it is a very good possi bility that the second target is at Insurance Ad Rules Set by Board Advertising 4 regulations for health insurance companies to follow have been drafted by the State Insurance to take ef fect April Companies are instructed to stick strictly to the truth and to close loopholes that might deprive the policyholder of Special participating policies drew clost attention and were termed mis leading and Tough rules drafted earlier by a Board attorney were discarded in favor of uniform regulations rec by the National Associ ation of Insurance favored the Ads must disclose the waiting period that is necessary before the effective date of the any illnesses not covered and whether benefits listed more than one policy for full When existing ailments are not the ad cannot imply that ones medical history does not af fect the policy or the claim pay Use of the phrase no med ical examination required is thus Board plans to enforce these rules by cease and desist Companies which ignore the order can be fined or have their license Inside the Daily Court Review ITEM PAGE Abstract of Assumed Names Birth g Building Permits Court of Civil Appeals 14th 7 Court of Civil Appeals 1st 7 Court 7 Deed Records 8 Divorce Dispositions Federal Tax Liens 3 Wine Beer Permits 8 Marriage Licenses 8 Liens 3 Mortgage Public Notices District Court Suits Filed T
