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...line to the public. Average increase: some $70 a car, or just about enough to cover costs of materials and labor. Ford's action was the tipoff to 1957 prices. While every auto make will probably hike prices slightly, no one can afford too high a boost, especially in the low-price field, where everyone expects a ruggedly competitive battle. Even with the increases, 1957's auto buyer will get more for his money. Cars will be longer, lower, more powerful. Chevrolet will have fuel injection on its Corvette, make it optional equipment on other models; Ford...
MINIMUM WAGE BOOST to $1 per hour has been extended to 36 more businesses working on Government contracts. Among them: luggage, fireworks, tobacco, evaporated milk, soap, fertilizer, cement, tags, surgical instruments. Total affected thus...
COAL EXPORTS will be pushed to new record by growing European demand. At current pace, booming overseas business will boost bituminous coal exports to 44 million tons in 1956, some 1,000,000 tons more than previous peak in 1947; anthracite coal is also keeping pace, topped 1,000,000 tons for first seven months of 1956 v. a mere 266,000 tons this time last year...
Thus far each of the roads has been able to go it alone. The Erie, biggest of the three (2,338 miles), picked up enough revenue carting freight between the Great Lakes and the Eastern industrial area to turn a $7,900,000 profit last year, expects a 10% boost this year. The small (792 miles) D. & H. is also in good shape; through the Delaware & Hudson holding company it picked up 34% of its traffic, mostly from its own coal mines, netted $8,900,000 last year on a gross of $76.9 million. Only the 962-mile Lackawanna...
Heavy exports of cotton at world prices may reduce U.S. raw-cotton supplies, but they will also boost foreign production of cheap finished textiles-to the detriment of competing U.S. manufacturers, who still pay U.S. prices. The Government's answer is still another program: textile exporters will get a 6.58?-per-lb. subsidy on cotton products made for export, will thus be able to cut prices to compete in world markets...