Word: hike
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...that its credit medicine is working effectively. Such sensitive barometers as daily spot-commodity prices have been edging downward, especially in scrap steel and copper. Furthermore, the volatile money market seems to be adjusting to the new climate after a sharp flare-up in April immediately following the latest hike in discount rates to Federal Reserve member banks. Interest rates on short-term (up to 90 days) Treasury bills, which jumped from 2.17% at the end of March to 2.78% at the end of April, are settling down again, and long-term U.S. bonds show the same pattern...
POSTAL-RATE INCREASE will probably be put off for at least another year. Though House Post Office committee has approved a $432 million rate hike (to 4? first class, 7? air mail), chances are slim that Congress, with many members facing reelection, will pass the Administration-backed measure...
Though the base price of steel has held steady since the $7.35-a-ton increase last summer, spot price boosts on tin plate, wire rods, etc. have resulted in an overall hike of about $2 a ton in the price of steel. More increases, warn critical economists, would only add to the dangers of inflation to the U.S. economy, send costs upward for dozens of industries...
Steelmen talk of a price boost to $15 more per ton-the biggest hike in history. Such talk is partly to prepare U.S. businessmen for an unpopular move, and partly to put much of the onus for the rise on the United Steelworkers, who are expected to demand a big wage increase, possibly as high as 60? an hour. Even if the Steelworkers get as much as 20? an hour, the union claims that it will cost the industry only an additional $4.00 per ton. While other costs are also climbing-iron ore is up 7.4% since July, railroad freight...
Containers were bursting with good news: a 25% profit hike to $4,420,000 at the Container Corp., a 56% net increase at National Container Corp...