Word: hike
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...Thomson, he appealed directly to Odhams stockholders with an offer to buy them out for $1.20 per share above the market price. With Odhams' The People denouncing King's move as an "act of piracy" (see cut), Odhams Chairman Chancellor announced that his board was prepared to hike the stock dividend rate from 25% to 37½%-if the stockholders would reject Cecil King. The announcement sent Odhams shares soaring in value past King...
...HIKES to unions are coming harder in a recession. Employees of Cleveland's Bailey department stores gave up a $3.50 weekly raise they had coming, took $1 instead after the store indicated bigger increase would cost 54 jobs. Steelworkers decided not to press arbitration for a 3?-an-hour cost-of-living hike...
MINIMUM WAGE HIKE...
...cannot afford to pay their workers a new minimum wage, the U.S. Labor Department made an exhaustive study of the effects of the 1956 increase, reported that only 62,000 workers in 15 low-wage industries had been laid off in the first impact of the $1 minimum-wage hike. The strongest arguments against a boost were made by the director of economic research of the U.S. Chamber of Commerce, Emerson Schmidt. But a survey he introduced to support his position granted that "in a majority of instances, the $1 minimum wage appeared to have little significant influence on unemployment...
...addition, the number of students applying for scholarships rose by over 10 per cent, even though the hike in tuition rates occured after applications had been printed. Glimp said that this figure indicated continuation of the shift away from a preponderance of private school students among applicants...