Word: boosted
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...determined to regain the 46% of the total U.S. market it once had. In a decade the percentage has slipped to 41% largely because of postwar metal allocations based on a period including G.M.'s 1946 strike. Acting President Harlow H. Curtice predicted that G.M. will boost its sales from 1952's $7.5 billion to a new record of $9 billion or more this year. With able selling, added Curtice, the industry can make 1953 a 5,500,000-car year, second only to 1950's record...
After member-bank borrowing hit a 21-year high in December, the Federal Reserve Board last week approved the tightening up of bank credit. Eight of the twelve FRB banks immediately boosted from 1¾ to 2% the interest rate at which member banks may borrow money from them. By thus putting a light brake on borrowing, the FRB sought to tighten the money supply, thereby help prevent any further inflation. Bankers were surprised not at the boost but at its timing. Most expected an increase last fall, when borrowing began to pick up, instead of last week, when...
Although the FRB's interest rates generally set the pattern for the entire U.S., few bankers thought the boost would cause an immediate increase in the prime rate (now 3%) that banks have been charging on commercial loans. Actually, most bankers thought that the FRB action was to bring its rate more in line with commercial rates and to clear the way for the Treasury refunding of $8.9 billion of 1⅞% certificates...
Moreover, despite Du Font's desire to boost its sales to G.M., a G.M. subsidiary could cut off its buying from a Du Pont subsidiary. In 1934, G.M.'s Vice President John Pratt wrote G.M.'s New Departure Division that Du Pont had complained because New Departure stopped buying ammonia from Du Font's National Ammonia Co. New Departure wrote back it did not even know National Ammonia belonged to Du Pont, but doubted it would make any difference; their ammonia had been dropped because it had water...
...excess-profits tax expires next June, and neither Democrats nor Republicans have shown any signs of continuing it. To make up the loss ($2.5 billion a year) in Government income, there may be a boost in the regular corporate tax. The 11% cut -in personal income taxes due next December will mean another loss ($2.9 billion a year) in revenue. In the tentative budget prepared by the Truman Administration for the next fiscal year, there is a forecast of a $6 billion bookkeeping deficit. Hence, Eisenhower will have to cut spending $8 billion, at least, and hold off the congressional...