Time Clock, Jun. 16, 1958

FRB DISCOUNT RATE will not be cut in immediate future despite flurry of rumors to contrary.

WORST UNION YEAR in recent times is shaping up, owing to labor scandals and recession. In NLRB organizing elections among U.S. workers since last July, only 58% voted for unionization, v. 63% in fiscal 1957 and 83% in fiscal 1950.

ALUMINUM MEN will push for protection against foreign competition, most likely through steeper tariffs, quotas, or export subsidies. Domestic producers complain that U.S. duty on aluminum pig and ingot will drop from 1.3¢ per Ib. to 1.25¢ next month, while some foreign countries tax U.S. aluminum by...