KIwanis speaker says Government spending to aid Southern California's economy Government spending for space and defense will keep the economic pump well primed in South- em California for at least the next year Richard S. Peterson, Bank of America research economist told the Redlands Kiwanis club here yesterday. After analysing the rational economy Mr. Peterson noted that the distinctive aspect of the California economy is the large volume of government spending for space and for defense — items that will not be cut in the '64 federal budget. In the overall view of the U. S. economy he is mildly optimistic about the months ahead. His talk consisted in enumerating plus and minus factors and in striking the total balance. Consumer spending has recently been a major strength of the economy, he said. While the buyer has stretched himself by the u.se of installment credit, some federal income tax cut is in prospect for 1D«4 which will increase the disposable income of the individual. Automobiles, in particular, have I been selling at a high rate for j the past year and a half, Jlr. Peterson believes that boom is wearing itself out and total sales will fall off. Another downward trend he foresees is in the purchase of steel by industry. For some months buy ers have been stockpiling steel, he explained, in anticipation of a ' strike that has now been averted j by new labor contracts. While I there will be some slowing down I in steel production this will not be drastic... rather, "only a dampening effect". The prospects for spending by business give Mr. Peterson much cheer. "It looks good this year", he says. Behind this trend he finds good profits for the year of *62 and for the first quarter of '63 (second quarter data won't be available for a couple of months). Business was also helped by recent tax law changes. Government spending — and the term includes state and local agencies — has been a strong lac- tor, and will continue to be so. He took specific note of the vast amount of highway building and of schoolhouse construction. As to housing, Mr. Peterson said that residential construction starts have been at record levels in the past two months. As these jobs progress they, in themselves, insure activity for at least five months. However, "the vacancy rate is already rising higher than we like to see if and he predicts slowing down by the end of the year. Taking a further peak into 1964 he noted that the "rate of new family formation may not be high enough" to support such high levels of residential construction. A tax cut would not increase consumer income sufficiently to influence residential construction, he believes. The most marked positive affect, he says will be on business investment and ho counts Dr. Sears, Kiwanis leader, dies suddenly Dr. G. W. Sears, a retired Colton osteopath and prominent Ki- wanian, died suddenly while waiting to have his operator's license renewed yesterday at the Department of Motor Vehicles office in San Bernardino. He was a past president of the Colton Kiwanis club but was also a past lieutenant governor of the Caiifomia-Nevada division of Kiwanis IntemationaL He is survived by his wife, Edna, of 1020 Valencia avenue, Colton, and two brothers and a sister. Funeral services will be held at 10 a.m. Saturday at Knopsnyders Mortuary chapel in Colton. NOSE BITER FINED LONDON (UPI) — George Sandford, a window cleaner, was fined $14 Tuesday for biting the nose of Alfred Nosworthy, who had pushed past him in a bus line. this an encouraging sign. Glen Adams, assistant manager of the Redlands main office of Bank of America introduced Mr. Peterson, and explained that he had come down from San Francisco to give the talk. Burglars enter four business establishments Burglars broke into four Redlands business firms last night according to police reports today. Goods valued at $140 were stolen from the stores. The firms entered, sometime between 6 p.m. yesterday and 6 a.m. this morning included the following: Eddie's Barber Shop. 527 Orange street, suffered the largest loss. A total of $121, mainly of barber equipment was stolen from the shop ovmed by Pablo E. Chacon, 931 Barbara Lane. College Shoe Shop, 529 Orange street, $2 in change was taken from the cash register. The store is owned by Robert C. Aday, 12522 14th street Yucaipa. Adamo's Appliance Sen,'ice, 525 Orange street was entered but nothing was reported missing. The owner is Daniel M. Adamo, 125 East Crescent street The fourth business entered was the E. F. Dibble, Consulting Engineer office at 8 West Citrus Avenue. Two radios were taken from the second floor offices. Estimated value was $25 according to police. Clearance Items at IMPERIAL The special prices shown in this ad . . . are for Thursday, June 27, Friday, June 28 and Saturday, June 29, 1963. You will notice that this merchandise is very "timely" for this' time of year. Come in and save for these Three Days. Use Our OPTION CREDIT PLAN Pay as little as 1/10 a month Re9. $1.39 Eveready Flash- d 1A light with BaHeries IU Reg. $3.05 U.S. Royr*I 26 x 2.125 Bike Tir« Reg. $2.55 Cool Cushion Pad $2.29 $1.88 ... Ample Parking Nearby ... No Charge For Delivery ... Always ... Service After the Sale Redlands' Most Interesting Store IMPERIAL HARDWARE CO. 19 E. Citrus Downtown Redlands Phone 793-3279 Senate probers report on girl import WASHINGTON (UPI) - A Senate subcommittee has charged that a U.S. entertainers' union helped lure Canadian girls to the United States for striptease jobs in 'Vicious dives" where they were held under 24-hour guard and forced into prostitution. The Senate investigations subcommittee, in a report Tuesday on its 1962 probe of the American Guild of Variety Artists AGVA, said the U.S. Immigration and Naturalization Service tightened its rules last year to thwart the racket. The subcommittee said the Paramount Entertamment Bureau of Montreal, a booking agency franchised by the AGVA. had signed up a number of girls in 1957 for working under "Shocking and unbelievable" conditions in U.S. strip clubs. Redlands Daily Facts WeA, June 26, 1963 - 7 Marion Brando as U.S. Ambassador MacWhife, toasts an Asiatic reunion with former war comrade Deong, played by Japanese star Eiji Okada, in the screen's rendering of "The Ugly American" which starts V/ednesday at Fox Redlands Theatre. PENNEYS ALWAYS FIRST QUAUITY DOWNTOWN REDLANDS 4th of JULY SPECIALS ^ ^ 5' 5 Many DACRON'-RAYON TROPICAL SLACKS! Breeze-cool Dacron polyester 'n rayon bengalines in pleated or plain front models. All wash 'n wear, need touch- up ironing at most Charcoal, brown, grey, blue, black, olive. Sizes 34 to 42. SPECIAL BOYS' PLAID WASH -N WEAR WALK SHORTS Sizes 10 to 18 3 98 Combed cotton plaids ... in tapered Continental or University-Grad models. Little or no iron. Also in men's sizes. Only 2 88 Penney's Cool, Washable Canvas Casuals in Men and Boys' sizes. Black or white. MEN'S SNEAKS WITH SUCTION CUP OUTSOLES Men's sizes 6 to 12 Children's sizes 10 to 6 Air cooled enameling cotton ducks for active men! Smart red striped foxing. Sanitized® for extra freshness. White. AIR COOLED CANVAS CASUALS Sizes 21/2 to 6 2" Men's and boys' air-cooled cotton enameling ducks get cushion insoles, arch supports, rubber soles. 6 to 13. Boys sizes D 2 '/2 to 6 and 6-12. Cushioned insoles for extra comfort. Enameling cotton duck uppers, white rubber foxing with a red stripe! GIRLS' EASY-CARE COTTON TAILORED BLOUSES Machine washable cotton in white and colors. Roll-up sleeveless styles. 1" Women 'N Giris' Dan River little or no-iron cotton pants 66 Woman's Sizes 10 to 18 JAMAICAS KNEE.KNOCKERS 2 66 Women's Sizes 10 to 18 SLACKS Famous Dansheen and Dansport machine wash. Tailored to our exacting specifications with set-on w^tbands, side zips. Glowing sol-; ids, stripes, tapestry designs, plaids. GIRLS' .1.66 & 1.99 CHARGE IT! 9:30 TO 5:30 - FRIDAY NIGHT TIL 9 P .M.
What members have found on this page
Get access to Newspapers.com
- The largest online newspaper archive
- 8,800+ newspapers from the 1700s–2000s
- Millions of additional pages added every month