Facts & Figures

Noble Experiment. International Harvester Co., which did its bit to stem inflation by cutting prices last March, had to raise them again. The rise in the cost of materials had put the manufacture of more than half of Harvester's industrial power products in the red. The 5% price boost would put most Harvester prices about 2% above the precut level.

Vital Ingredient. In a busy lifetime, Burton Rascoe, Manhattan critic and literary Pooh-Bah, had been called a lot of other things, but never an economist. In his latest book of reminiscences, We Were Interrupted (Doubleday; $4), he pays his respects to the craft. His conclusion: "Economics is, by and large, pure mythology. . . . Any economic plan is workable just so long, and only so long, as it is sustained by faith."

Butcher Club. A new moneymaking trick with all the appeal of a chain letter was being tried out by many a U.S. meat market. To spur sales, nipped by high prices, retailers were selling at wholesale prices. They made their profit by charging customers a weekly fee for the privilege of wholesale buying. Butchers were making enough on the fees to pass on savings of as much as 25% to customers.

Up Rates. For several months banks have been gradually raising their interest rates on loans. So California's Bank of America, world's biggest bank, decided to pass some of the gravy on to depositors. On Jan. 1 it will boost its interest on savings from 1 1/4% to 1 1/2% on accounts up to $10,000, from 1% to 1 3/4%% on larger sums.

Cellophane Monopoly? Trustbuster John F. Sonnett of the Department of Justice got after E. I. du Pont de Nemours & Co. (Inc.). In a civil suit, he charged that Du Pont had the U.S. Cellophane market so tightly wrapped that it 1) got more than $46 million of last year's $62 million total sales, 2) imposed production restrictions on American Viscose Corp.'s Sylvania division, its only competitor in the U.S., and 3) divided the world market with a four-nation cartel. Sonnett asked the court to make Du Pont sell enough plants to permit competition. Du Pont denied it all.

Fadeout. After 2 1/2 years as president of the Society of Independent Motion Picture Producers, Donald M. Nelson, ex-War Production Board chief, had had enough. He resigned his $50,000-a-year (plus $25,000 expenses) job to devote himself to "other business interests."

This file is automatically generated by a robot program, so reader's discretion is required.