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Newspaper
Independent
Location
Long Beach, California, United States of America
Date
Aug 01, 1958
Page
2
LAC argues steel is the backbone of American industry and warns that wage increases for 600,000 steel workers will lift steel prices and general costs. He notes Senate investigations, shows steel's tiny share in products yet large impact on costs, and defends big steel firms as essential, well regulated, and profitably justified to sustain jobs.
Cloudy conditions give way to sun across Long Beach and nearby coast today and Saturday with little temperature change. Inland areas see highs near 98 to 112 with scattered afternoon thundershowers. Coastal fog returns night and morning, cooling things slightly. water temp around 66 degrees, surf calm to moderate.
The House Commerce Committee voted unanimously to cite Bernard Goldfine for contempt of Congress. The citation moves to the full House for action next week and, if approved, to the U.S. district attorney for possible grand jury presentation. A conviction could bring up to a $1000 fine and one year in prison.
AP reports selective price hikes by US Steel and Bethlehem Steel on flat-rolled steel used in autos and appliances, with aluminum prices also rising. Alcoa boosted basic aluminum pig price to 24.7 cents per pound, aiming to align with industry trends and global competition.
Hershey predicts draft calls may rise as crisis expands selective service duties. He underscored that greater authorizing inductions will occur when a crisis exists, while stressing the need for careful, open review of mental fitness and reserves. He spoke at a Long Beach press conference amid California preparations.
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