Word: near-record
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...President's experts insist that they do not propose to liquidate inflation by squeezing the country's rotos (broken ones). They are confident that plenty of copper dollars, from new investment and current near-record prices (45? a lb.) plus a $75 million currency stabilization loan from the U.S., will bolster the peso. And to hold the price line against changeover shocks, the government gave temporary direct subsidies for vital imported goods, and raised living allowances under the social-security system for 3,000,000 rotos...
...points during the week, to 96⅝. Remington Rand reported a third-quarter net of $5,003,268 v. $3,144,787 a year ago, and its stock jumped 6⅜ points, to 40; giant General Motors reported quarterly net of an estimated $2.50 v. $1.60 m 1953, and near-record earnings of $806 million for the year v. $598 million in 1953, despite slightly lower sales ($9.8 billion). One of the most remarkable accomplishments: Railroader Robert R. Young's N.Y. Central tripled its December earnings (to $6,259,841, or 97? a share) over the 1953 figure...
...Americans were able to make more money after taxes ($253 billion) and spend more ($233 billion) than ever before. Among their purchases: 5,300,000 cars, 3,400,000 refrigerators, 6,400,000 radios. While overall appliance sales were down slightly (to $6.9 billion), 1954 was a near-record year for TV sets (7,000,000) and washing machines (3,650,000), and a record year for air conditioners (1,230,000). Their sales were all bolstered by the second-best housing year on record (1,200,000 houses...
...guarantee of 62? a Ib. for the 1955 wool clip, 17% above the current support level and a generous 106% of parity. The bigger subsidy, authorized by congressional revision of the Wool Act last summer, was designed to spur wool output to 300 million Ibs. annually from a near-record low of 230 million Ibs. this year...
...Steel production, long the prime index of U.S. economic health, was down to a bare 62% of capacity, some 8% lower than the first-half average and 30% below the 1953 July level. But while steel lagged, the economy as a whole was still racing along at a near-record level. In Washington, the Federal Reserve Board announced that its overall index of industrial production, while off from its peak, was still at 124% of the 1947-49 average, about where it was six months ago (see chart). Reported the Commerce Department: total output of goods and services rose...