Word: hiked
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This was exactly what OPAster Bowles had been preaching right along. But there is one catch in this theory: there are small manufacturers of electrical appliances who may not be able to hike their production much above their prewar output. For them the OPA price ceiling may mean losses...
Manufacturers protested. They claimed that they needed at least a 15% hike in prices to cover higher labor and raw-material costs. Distributors squawked that they would be squeezed out of business...
...hike in vacation pay from $50 a year to $75. (Because stocks of coal are critically low, the miners will forego their time off, but will collect vacation money...
...comparing prices during the darkest days of the war with February prices, Eccles had made the bull market appear falsely sensational. Actually, after three years of prodding, investors had accomplished no more than to hike stock prices from their low after Singapore's fall to only a few points above their values at the time war began in 1939. To most investors this modest recovery did not seem like a runaway market. But the red flag waved by Eccles was a signal for a tactical retreat...
...Last week OPA approved a price rise of $1 a ton for pig iron. In theory, this $60-odd million markup was simply a bookkeeping transaction; most steel companies make their own pig iron, thus will bill themselves for the added cost. But in good bookkeeping practice, this big hike in the cost of steels' raw material must be translated into higher costs of the finished product...