Word: higher
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Dates: during 1950-1959
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...decision. Said the President: "I have never urged him to [resign], nor asked him to, nor anything else. I have had a very-as a matter of fact, very-congenial talk with him." Most likely outcome: Wilkins will stay for the few months necessary to qualify him for a higher pension. His probable successor: Mitchell's administrative assistant, George Lodge, 31, son of U.N. Ambassador Henry Cabot Lodge...
Philip Morris (Parliament, Marlboro) and Lorillard (Kent, Old Gold) test all cigarettes down to a bare inch of butt. Other companies criticize this system because it produces higher tar yields for longer cigarettes. Another argument rages over what to report. American Tobacco measures "total solids" in smoke. Competitors have found that "solids" include tar, nicotine and some moisture; thus the advantage goes to American Tobacco's Hit Parade brand, whose tissue-paper-like filter absorbs more moisture than competing cellulose acetate filters. Hit Parade also claims "over 400,000 filter traps"; Lorillard says it could claim millions of traps...
...Japan's biggest customer, the U.S. bought $600 million worth of Japanese goods last year, largely because Japanese cameras, textiles, machinery and electrical goods are among the world's least expensive. Last week many a Japanese businessman was looking in the other direction: toward higher-priced, quality products fitted to compete with the world's best. They argue that Japan actually damages its potential U.S. markets with cheap, often shoddy goods copycatted from U.S. or other foreign manufacturers. To U.S. consumers, the label "Made in Japan" frequently acts as a red light that warns of inferior goods...
...Personal income rose to an annual rate of $354.5 billion in July, highest in history. The new level was $2.5 billion higher than in June and $2.4 billion higher than the previous record of $352.1 billion, also set in August 1957. Main reasons for the jump: a $1 billion rise in private-industry payrolls, plus another $1 billion increase in the federal payroll. ¶ Housing starts rose to an annual rate of almost 1,160,000 in July, 14% higher than the rate in July 1957 and the highest in 2½ years. FHA, VA and conventionally financed housing...
Another major effect of long-term contracts is to nudge the price spiral higher. Long-term contracts boosted the steel industry's labor bill by 26? an hour last month; steel prices advanced soon after by $4.50 per ton at a time when many experts argued strongly for price cuts to stimulate the nation's economic recovery. Money-losing railroads were obliged to hike hourly wages by 12? last November, pile on 4? more in April, now are slated for a third 7? jump this November. Meanwhile, they fall deeper into the red, though both passenger and freight...