CONTROLS: Ceiling Raiser

When Congress okayed the Capehart amendment to the price-control law, Harry Truman described the legislation as "terrible." Under the amendment, manufacturers are permitted to raise their ceiling prices to allow for all cost increases from the start of the Korean War up to July 26, 1951. Last week Price Boss Mike DiSalle reluctantly made the "terrible" amendment official, eased the price squeeze on corporate profits. He issued an order allowing about 125,000 manufacturers—one-fourth the nation's total—to figure in their added costs. (Before his order, manufacturers had to absorb increased labor costs since last March, increased material costs since December...

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