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Stock Market Report / Steel, Railroad Settlements #459625

NBC Evening News for Tuesday, Aug 03, 1971
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(Studio) Steel industry, railroad settlements cause bank to raise prime interest rate; feared steel settlement will make United States steel less competitive on world market; railroad settlement means higher freight rates; average Dow Jones share down 66›.
REPORTER: David Brinkley

(DC) Pentagon announces its costs will be up $29 million due to incrd. steel prices; steel workers being laid off due to lack of steel orders.
REPORTER: Irving R. Levine

(Cleveland, Ohio) United States steel companies complain of large amts. of foreign steel being imported; foreign steel $20-40 per ton cheaper than United States steel; some steel companies buying, reselling foreign steel.

(DC) Republicans worried about 1972 elections due to economy situation; dozen Republicans to propose wage-price board tomorrow.

(Studio) Teamsters Union president George Meany says economy situation worst since 1930's; labor should vote Nixon administration out of office.
REPORTER: David Brinkley

Brinkley, David;
Davis, Lou;
Duke, Paul;
Levine, Irving R.

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