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Inching upward for a fifth straight month, the Government's fever chart on living costs touched a record 114.7 in mid-July (base: 100 for average prices in years 1947-49). Reason: increased rents, some higher food prices (pork, poultry, eggs, fresh milk), higher costs of medical care and transportation. Result: 1?-an-hour wage raise for a million aircraft and automobile workers, whose pay is tied to the cost-of-living index...
...fact is that, despite the inroads made by public power, both federal and local (see chart), the private-utility industry has been growing faster than any other in the U.S. More than doubling every ten years, power output has soared from 82 billion kw.-h. in 1933 to an estimated 440 billion this year; last week, in the once sluggish summer season, output hit an alltime record of 8.5 billion...
Actually, the debt ceiling is almost meaningless. Congress has set a ceiling seven separate times in the past 18 years, but has never failed to raise it whenever the Government needed more money (see chart). Economy-minded Senators, well aware that in the same 18 years the ceiling has been lowered only once (at World War II's end), thought that Humphrey's dilemma would make for quicker, bigger cuts in spending. But they also knew, as did Secretary Humphrey, that the ceiling, as a symbol, meant little, that the important thing was the long-range determination...
Beautiful Chart. New York's Dorset Foods, Ltd., a canner of poultry and meats, last year introduced five low-calorie soups, recently added a line of "substance" low-calorie products, including beef stew, chicken fricassee and a chicken-vegetable dinner. Dietetic Food Co., Inc., which started producing foods for diabetics 26 years ago, now has a full low-calorie line, including candy, desserts, chewing gum and a new ice cream. Sales of high-protein foods, like meat, are up; protein-bread makers are also cashing in on the bonanza. Said an official of Ralston Purina, makers...
...engines, the U.S. and Britain are running a seesaw race for the title of the "most powerful" (see chart). Last week it looked as if Britain's De Havilland Engine Co., Ltd. had jumped out ahead; it announced a new engine, the Gyron, with a thrust "greater than that of any other known jet engine." Although performance figures were kept secret, airmen guessed that the Gyron is in the 15,000-Ib.-thrust class, compared to 10,000 to 12,000 Ibs. for the current model of Pratt & Whitney's J-57, which had been rated the world...