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'. B223: Ec 76/974

ECONOMIC STABILIZATION ACT-1974

HEARINGS

BEFORE THE

SUBCOMMITTEE ON
PRODUCTION AND STABILIZATION

OF THE

COMMITTEE ON

BANKING, HOUSING AND URBAN AFFAIRS
UNITED STATES SENATE

NINETY-THIRD CONGRESS

SECOND SESSION

ON

S. 2599, S. 2892, S. 2895, S. 2954, S. 2961, S. 2987,
and S. 3032

TO AMEND THE ECONOMIC STABILIZATION ACT OF 1970

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COMMITTEE ON BANKING, HOUSING AND URBAN AFFAIR

JOHN SPARKMAN, Alabama, Chairman

WILLIAM PROXMIRE, Wisconsin
HARRISON A. WILLIAMS, New Jersey
THOMAS J. MCINTYRE, New Hampshire
ALAN CRANSTON, California
ADLAI E. STEVENSON III, Illinois

J. BENNETT JOHNSTON, JR., Louisiana
WILLIAM D. HATHAWAY, Maine
JOSEPH R. BIDEN, JR., Delaware

JOHN TOWER, Texas

WALLACE F. BENNETT, Utah
EDWARD W. BROOKE, Massachusett
BOB PACKWOOD, Oregon

BILL BROCK, Tennessee

LOWELL P. WEICKER, JR., Connecti

DUDLEY L. O'NEAL, Jr., Staff Director and General Counsel
WM. HOWARD BEASLEY III, Director of Minority Staff
SUBCOMMITTEE ON PRODUCTION AND STABILIZATION
J. BENNETT JOHNSTON, JR., Louisiana, Chairman

ADLAI E. STEVENSON III, Illinois
WILLIAM D. HATHAWAY, Maine
JOSEPH R. BIDEN, JR., Delaware

JOHN TOWER, Texas

LOWELL P. WEICKER, JR., Connecti
BILL BROCK, Tennessee

GERALD Y. ALLEN, Professional Staff Member

(II)

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ADDITIONAL STATEMENTS AND DATA

American Bar Association, resolution on economic stablization programs.
American Hospital Association:

Letter from Leo J. Gehrig, vice president___
Supplementary statement of John Alexander McMahon, president___

Page

292

317

317

American Newspaper Publishers Association:
Letter from Stanford Smith, president_
Petition before the Cost of Living Council_

323

324

American Nurses Association, statement received for the record.
ARMCO Steel Corp., letter to Senator Symington from R. C. Rhoades,

305

works manager_.

307

College of American Pathologists, letter from Robert C. Horn, Jr., presi-
dent.

Concrete Reinforcing Steel Institute, letter, with attachments, to Cost of
Living Council

Cost of Living Council:

Letter from Robert F. Bonitati, Associate Director for Congresional
Affairs, enclosing Administration's comments on draft bill proposed
by Senators Johnston, Stevenson, and Biden____
Letter to Senator Johnson enclosing two memorandums.

Federation of American Hospitals, statement of Michael D. Bromberg,
director, national offices

General Electric Co., statement of Reginald H. Jones, chairman of the board and chief executive officer___

308

170

347

303

315

339

Independent Bakers Association, statement received for the record..
Kaiser Steel Corp., letter from Jack J. Carlson, president___

308

311

Louisiana Federation of Licensed Practical Nurses, statement received from Alwine L. Mulhearn__

311

McGovern, George, U.S. Senator from the State of South Dakota, letter to
Senator Sparkman.

Machinery and Allied Products Institute, memorandum on materials and other shortages in industry. . .

National-American Wholesale Grocers' Association, letter enclosing
resolution, from Gerald E. Peck, executive vice president___.
National Association of Broadcasters:

Letter from Vincent T. Wasilewski, president.
Petition before the Cost of Living Council__

National Newspaper Association, statement received for the record
Northwestern Steel & Wire Co., letter from Paul W. Dillon, chairman_

St. Joseph Hospital and Rehabilitation Center, letter from Mother Mary
Anne, executive director...

122

32

313

330

331

312

314

343

Television/Radio Age, reprint of article by Robert L. Steiner, Kenner
Products Co..

373

Temporary Emergency Court of Appeals of the United States, decision on
Consumers Union v. Cost of Living Council_ _ _ _

39

Treasury Department:

Letters from Edward C. Schmults, general counsel, with views on bills being considered..

32

Statement of Edgar R. Fiedler, Assistant Secretary for Economic
Policy before Senate Interior and Insular Affairs Committee,
February 1, 1974.

33

United States Steel Corp., statement received for the record_

344

Western Concrete Reinforcing Steel Institute, recommendations to alleviate shortages of reinforcing steel in the United States---

175

CHARTS AND TABLES

American Bakers Association Cost Survey_

310

Average hourly earnings of production or nonsupervisory workers (1972)-94, 100

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Page

FCC broadcast financial data_

338

Five-year trend (1968-72) in costs for broadcast media compared to the
Consumer Price Index__.

337

Industry medians: Yardsticks of management performance_

227

Iron age composite prices_-_.

205

Media engaged in national, local and classified advertising-
Metal market weekly steel scrap price composite--.

329

207

Nonsupervisory hospital workers-average weekly earnings.

Number of hospital employees per patient-

99

96

Percent change in consumer prices since August 1971.

75

Price and wage trends (1971–73) – .

284

Profits of food processing companies.

285

Profits of meat companies

285

Raw steel production by type of furnace

200

Reinforcing bar imports to the United States.

195

Relationships between advertising-sales ratio, 1962, and changes in retail and wholesale prices, 1947-66--

336

Relationship between gross national product and total advertising expenditures, 1965–72__.

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U.S. international trade record and domestic steel trade deficit..

204

United States versus world raw steel production__.

202

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