Word: boosted
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Months ago, Johnston and his highly movable stabilizers let wages break through the original ceilings of last January. Congress, in turn, when it wrote its control bill, permitted manufacturers and farmers to boost prices to make up for increased labor costs. In last week's decision, Johnston gave the upward spiral another shove. On the basis of the present consumer's price index, all workers may demand an immediate 2% boost...
Wilson had good reason for his candid answer. When he decided last winter that the U.S. needed a second boost in aluminum capacity, he wanted to get it from those who had the know-how to supply it -Alcoa, Reynolds and Kaiser, the industry's Big Three. But Celler, who heads a House subcommittee investigating monopolies, objected. The U.S. had just beaten down Alcoa's monopoly, said he; now it was threatened by an "oligarchy" in aluminum. When the Justice Department gravely nodded its head in agreement...
Despite this, there were some hints of higher prices to come. General Motors decided to join the parade of other automakers asking for a boost on the basis of increased costs. With the new cost-of-living wage formula (see NATIONAL AFFAIRS), higher costs and prices were in the wind. The Joint Committee on the Economic Report took a look in its crystal ball and predicted: "The pressures for higher prices [in the next two years] are not speculative but fundamental; [they] arise out of increases in basic costs and demand . . ." But last week, with many prices still softening...
...Limit. With the big-scale facilities at Henderson, and plenty of power from nearby Hoover and Davis Dams, Batcheller believes that Titanium Metals can bring down the price and boost U.S. production to 4,100 tons by September 1952, more than eight times the present world output. The immediate goal is to get enough for jet-engine alloys. But Titanium Corp. has its eyes on a far bigger potential market for the metal. Titanium, because it is 56% lighter than alloy steel, and heavier but 300% stronger than aluminum, has been dubbed the "middleweight champ." As the price comes down...
...Interstate Commerce Commission last week gave U.S. railroads a freight-rate increase-for most of them, the ninth such raise since the end of World War II. Eastern roads got permission to raise their rates 9%; lines in other regions got 6%. Railroad men estimate that the boost will bring in $564 million more a year in revenue. The railroads had asked for a 15% increase, were opposed by the Office of Price Stabilization, which argued that any increase would be passed on to consumers. But ICC decided the railroads needed the money "to meet the needs of national defense...