Word: indexed
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Dates: during 1940-1949
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Fever Chart. The Government, which berated industry for raising prices, did the same thing itself. In the commodity markets, it was Government buying, more than anything else, that boosted grain prices. They helped pull up the wholesale commodity price index (1926 average: 100) from 141.5 to 162 in a year. No one disputed that the Government had to buy grain for relief abroad. But did it have to buy it the way it did? In five months, it gobbled up some 400 million bushels of grain, despite the short corn crop which put pressure under all grain prices...
...boom? Bigger than ever, said the Federal Reserve Board last week. Following the summer slump, FRB's production index (1935-39 average: 100) had climbed to a postwar peak of 192 in November...
...Jacob Maurice Coopersmith, a stubby, dedicated, bustling man with thick eyeglasses, caught the fever too. He caught it quite by accident. At Harvard, working on a Ph.D. thesis, he had trouble finding his way through Chrysander's 100 volumes of the Handel "complete" works: they had no thematic index. He decided to make one. After two years at it he had caught up with Chrysander, but had accounted for only two-thirds of Handel's music. So Jacob Coopersmith went abroad to track down Handel's missing manuscripts. He has been following the trail ever since...
Manufacturers blamed the rise on "a cost-price squeeze." Thus, they pointed out that between May and August hide and skin prices advanced 38 points on the Bureau of Labor Statistics wholesale index while shoe prices advanced less than 3 points. (But hide prices were still under the peak of last November while shoes were well up from then.) Said Lawrence B. Sheppard, president of the National Shoe Manufacturers Association: "In the shoe industry, replacement pricing [i.e., raising the price of previously manufactured shoes to cover replacement cost] must be substituted for wishful thinking...
...parity index would be changed to include the cost of hired farm labor and reflect the increased mechanization of farms. The new parity index, said Secretary Anderson, would discourage grain growing, encourage meat raising. Thus, Secretary Anderson hopes to cut down the vast commodity surpluses that have swamped...