The Courier News from Blytheville, Arkansas on December 31, 1952 · Page 10
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December 31, 1952

The Courier News from Blytheville, Arkansas · Page 10

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Blytheville, Arkansas
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Wednesday, December 31, 1952
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PAGE TEN Babson Sees Slight Profit Drop in '53 (Continued from. Page I) 1053 will bo meet Important in the struggle for World Peace, We will need more than mi H-bomb to win the peace. We shall need a great rise of spiritual strength, which Js not s now evident, The Long business boom following World War II wna beginning to run out -of steam when the Korean War gave It a new lease on life. However, tho stimulus ol defense apending Is already fading. Barring further International troubles, defense activity In IO&3 will be a floor under, and not a new stimulus to, business activity. . expansion will move Into a rcadjtjfitmeiit pliaso some- tlmo In 1053. This has been an outstanding economic force behind our long period of good times. Nevertheless, I <Jo not now anltcipate nny sharp break fn business. If a slide starts it shou'd be gradual, not steep, BJg credit expansion has been a powerful "shot in the arm" tor business during the past two years, I predict that in 1953 loan repayments will become more important than new credit advances. This could handicap over-all business unless advertising expenditures arc Increased. t/ndor an Eisenhower administration, I do not look for expansion of our money supplies as ft result of Increased deficit firmnc- Jng. Thus, another stimulating force will be absent next year da- Bpite the belter confidence following the Eisenhower landslide. Although General Elsenhower ran far ahead of his ticket, there has been a considerable gain In the conservative -complexion of Congress. The margin in favor of conservatism Is not .measured by the slight excess of Republicans over Democrats. It results from the fact that several Democrats cnn be counted tn the conservative column. The emphasis will be on purifying Bureaus and Commissions. * * * AI*L GOVERNMENT departments wll) be fltlhe service of the ^Republicans after January '20. Never before in the history ot the United States hns a conservative , government had such ft powerful bureaucracy at its finger tips, in 1953 we shall ROC the use of these bureaus to aid rnther than hnndl- cnp biisincss. .^ Unemployment will be no problem for the.workers of the nation during the early month* of 1053. The demand for and the supply of labor.promise to hold In good balance. • jLnter, however, unemployment will Increase, reaching' Its highest point toward the end of the year. While employment runs high during the first part of the year, strikes will contmUQ to plague management. Unions, however, will be cautious so thnt they will not bring down on their heads the legislative wrath of n conservative Congress, During the early month of 1953 amendments to the Taft-Hartlcy Act will be moderate. Great Jn- bor turmoil woull surely result In Revere restrictions on labor being read Into the Act. All in all. I forecast n dccUne In strike totals lor 1353'. i • '• * LOOKING TO the year 1D53, I am urging my friends and their children to work more faithfully nt their jobs. They should not h& fooled by present high demand for labor. Early 1953 should be used to "dig in" and work harder. Drifters will be the first to be let go. Barring World War III nnd severe droughts, the supply of most raw materials, farm products, and munufncturccl goods promises to be adequate during 1933. Even the so-called invisible inventories in the hands of consumers are high as n result of heavy buying since the outbreak of the Korean War. I anticipate few shortages next year. Do not forget that there is al- vnys a big IF in the supply situation with regard to farm products. Severe drought could cause havoc. One is already long overdue. Scan closely weather reports from the nation's "breadbasket." The demand for goods will be stronger in the first half of the year than it will be during the last half. Disposable income will hold close to current hljrh levels during the first half of 1953. Tot-at pay rolls will hold, well, with prospects favoring a slight drop during the late months of 1953. * • • FARM GROSS income will strengthen along seasonal Unes during the first four or five months of 1953. It we then nvoid drought, I look for a lower farm Income during the second halt of the year. The trend of wholesale commodity prices will remain in a basic long-term downswing. Look for temporary price recoveries In many groups during the early purl of 1953. but do not let them fool you. Unless more International troubles or drought strike hard, living costs should average some lower in 1953 than In 1952. Here again, the tapering-off will occur late, not early In the year. Over-nil trade In 1953 will be close to 1852 levels as fnr as physical volume Is concerned, with a moderate decline In dollar totals. The most attractive merchandising Investments should be: (1) supermarket groceries; (2) variety chains; (3) mall order stores; and (41 department stores, excepting a few in Hie largest and most con- gested cities. Demand /or capita! goods will hold strong during most of 1953. A definite slowing, however, will take place at somo time. 1953 sale* of consumer durables should about equal 1952's lotnl sales, which were restricted by the steel strike. • « 4 MOVEMENT of soft goods during 53 should 1« about tho aame as during 1952. Somo freshening of demand in the early months may be offset later by a renewed lull. Barring World War III, rent controls will be a thing of tho past in most areas by the end of 1053. Home building will be less In 1053. Prices may weaken during the latter part of Hie yenr. Building costs should edge lower. Only small new houses will bo In demand. In my opinion, the cost of mortgage money will tend iomcwijat higher during 1953. Construction of municipal and public works should rise moderately In 1053 as compared with 1952. This niny tm stepped up sharply late In the year If business falters. There may be a surpiui of tax-free bonds. A moderate slide-off In Hie Bale of commercial farm properties can be expected. No bad break, however, seems likely In 1953. Fear of World War III, moreover, should help farm prices. Population trend is away from the big cities. Fear of possible bombing and automobile overcrowding will continue as n drag on city realty values. Continued migration from the urbnii centers will help suburban properties. • • 4 FOR THOSE who plan buying new homes in 1953, J strongly urge the purchase of acreage in suitable suburban areas. Surely, the H- uoml) experiments should quicken the trend toward subsEstance farms. Aa public housing programs are far behind schedule, the new Congress will not promote such In 1053 unless the need for pump-priming becomes greater. Tax relief will come mostly from expiration of present Jnws rather than form a new enlightened tax program. Burring further international problems, the present corporate excer.s-proflts tax will be permitted to expire nt the end of June, 1053. If the need for new taxes Continues hlyh, after expiration of the excess-profits tax, the new Congress may consider additional excise or manufacturers' sales tuxes. They may also serve to discourage consumer spending, if the war danger becomes acute. State and local taxes may be Increased moderately here and there during the year 1953. However, 1 do not look for total advances in such to be so-great hi 1953 as they were In 1952. There will be no -increase In capital-gains taxe-s during 1053; but read the fifth from the last paragraph 46 below. Income taxes may be reduced. EXPORTS will fall again In 1953. The drop in imports will lie much less than In exports. Tho .new Administration win be urged to promote foreign trade Instead of foreign aid. Only by buying our neighbors' goods can we get them off the relief rolls. To save ourselves, i predict, we will buy more abroad, although this will be hard on some United States manufacturers. I look for no change In the official United States buying price for gold. We won't "monkey with" the mint price of gold untlUthe nation gcLs really "hard up." For life year as whole I look for business, profits to be slightly lower than in 1952. Earnings will be better during Hie early months, with a decline occurring later in the yenr. Profit margins will lie cut by stiffer competition from both domestic and foreign sources. Recently tipped wages, plus some additional 1953 boosts, will also put heavier cost pressure on profits. Some companies that have baen hard hit by excess-profits taxes may show improved earnings when the excess-profits tax expires June 30. There will be a cushion under falling profits provided by the current very high tax rates. If profits slide, Uncle Sam will share the heavier loss. This very fnct, however, will make It difficult for Congress to reduce the rate of taxation. • * » STOCKS AllE high historically. We are approaching the end of n long period of prosperity, much of which is based upon artificial measures. Therefore, sometime during ISM I forecast lower stock prices than exist today. Yet, do not forget that the stock market was at about- the same price point when President Hoover won by a landslide In ]928. With business prospects good for early 1953, confidence might again cause a temporary boom. If an "Eisenhower bull market" develops, i strongly urge rcarier.s to take profits and build up reserves. Within 12 months after Hoover entered the White House the Industrial Averages fell 100 points. New administration will not favor "soft money" policy. Therefore, some further rise In interest rates seems probable. For this reason, I favor high-grade, short-term bonds, rather than long-term. Finally: Wise investors arc taking no action unless prepared to follow a carefully planned and sup- RITZ THEATRE Manila, Ark. WED - THUKS "RED RIVER" John Wayne Montgomery Cliff Joanne Dru BLYTHEVILLE (ARK.) COURIER NKWi WEDNESDAY, DEC. «, 1M| : !&m^§ » NEW KOIin THACTOH. - doing on display'" hydraulic system and the most powerful faVm trac- Saturday nt DIG Snow Tractor Co., 112 North Franklin, Is Iho Golden Jubilee model Ford tractor. T)JC new machine features on "advance typ« tor engine ever produced by Ftord," Milton Snow, owner and operator of the company, stated. TRUMAN (Continued from Page 1) Arthur retorted llml he had nol proposed to extent! the Korean War but only to cud H, In the Vincent matter, Truman said only that the case of the career diplomat has not reached him yet. (His counsel, .Charles Murphy, Is fyiown to lie Btudyinf the case.) A federal loyalty board has found Jury in New York. Malone turned over a coded list there Is n "rcnso^We'doibt i'bout he ^1^™^^°" ,**""" tho loyalty ol Vincent, once a State loyalty cpo™ S±7 T uT™ Department chlnn policy -. maker UoJnil ,* h ave been dlschareed as an,! now Ml,,N t nr ,. -,.„,,„,„ ,,. ,, securlt r , s L by Secre ury Oen INTRIGUE (Continued from Page 1) :olibre revolvers, but he could no ,„„,, , —-•-••- - •»"" aim- confirm a report that the Red Al?» r S SU|lpltc<l •»• De P" t J' a f cnt *'s° carried two hand gren- Alty. Oen. Ross Malone on 53 u N adcs S-T^T 3 .!* 110 ,? feccnt months Hc sald lhe Communist ground r.° ri'r^ a faicr » i *™ h « ?* >»*«* <>* •*»«-. ?£ O m y damage to (he plane, he said, cam and now Minister to Tangier. It is up to Trunmn nnd Secretary of State Acheson to deckle whether Vincent should ho fired. On other matters Truman supplied these comments: 1. Prime Minister Churchill ot Great Britain undoubtedly will lalk wfjh lilm about such things shoes and ships, and sealing wax—a Hue lifted from "Alice In Wonderland," to denote a variety of subjects—when Churchill pays a courtesy call at the White House nud has dinner will] lhe President, following Ills talks with President- elect Elsenhower next week. Needles Tafl lie described Churchill ns a very courteous gentleman and a good friend. 2. If Sen. Robert A. Taft of Ohio has his way, tho country undoubtedly will get back on a track It abandoned vyilh the beginning of the new deal. Tnft said In New York yesterday, after a meeting with Elsenhower, that he expected a "progressive" Republican legislative program which "will put the country back on the road we abandoned 20 years ago." Truman made his comment after a rour of laughter at being asked what he (nought of Tnfl'a prediction. * ,,... -.--- Senate, snlcl ex-Senator Truman, ought to find some way to end filibusters. He declined specific cdmmcnt, however, on plans by n group of Northern Democrats and some Republicans to start a fight against the filibuster when the Senate meets to organize next Saturday. At Ihe oulsol, Truman declined to make any predictions about 1953, saying with a smile that ho was neither a pollster nor a columnist. Under questioning, however, he said he regarded peace prospects as being as good tis they were a this time last year.. Probably better, he added. A moment later he said more firmly that the outlook for peace is even better than It was at Ihe end or 11)51. Hc said he bused this statement on his knowledge of all- the facts nnrl he said he knows a great ervlsed Investment program. The keystone of this program will, In 1953 ns In 1952, prove to be a policy of diversification and selectivity. Among those groups which offer safety and good yield arc certain firn insurance .stocks, bank stocks, variety chain store slocks, food processing companies, and telephone companies, Kven these niny fail us nnluss our nation hns a real spirlt- nnl awakening. This must include both you nnd me. NEW Air Conditioned By Refrigeration "Your Community Center" MANILA, ARK. Matinees Sat. & Sun. Phone 5S WKD-THURS "THE GOLDEN HAWK" Rhonda Fleming Sterling Haydcn' FRIDAY 'VENGEANCE VALLEY" FJurt Lancaster ?rn! Trygvc Lie so far. Malone's list -did not use names. H is the Slate Department's Job to-relay to u. N. officials Information on security risks ninong Americans on the U. N. payroll. Malone testified after Adrian Fisher, legal adviser lo the State Department, revealed plans for new system of loyalty investigations on U. N. employes who ire U. S. citizens. Fisher said lhat ip to now the State Department ins had no responsibility for clear- Ing Americans for employment by the U. N. Fisher said President Truman Is expected momentarily, probably today, to sign an order calling for full field investigations by the FBI of present and prospective U. N. workers who are U. S. nationals. Any derogatory Information, he added, will be relayed to the U. N. ns a basis for suspension of the employes. He said the new procedure— alined at Insuring against this nation being represented at the U. N. by disloyal officials—will alao provide for appeals lo the Loyally Review Board by employes of doubtful loyally. The board now considers loyalty cases of persons employed by the federal government. ACHESON (Continued from Page 1) low, it's a colossal flop." Chelf applied the label tli "star- from machine gun bullets fired by the ' Nationalist Interceptors who forced It down. The bullets apparently did no serious damage. Gnston said he was gJad to be alive, but appeared embarrassed and was hesitant lo discuss his spine-tingling experience. .Capt. Ku Chung-Chleh, pilot of the National plane that intercepted the transport, got a hero's welcome here tonigtit. The Nationalist Air Force maintains a blockade against the Red China coast and tries lo intercept all planes ships headed that way. Christian Church Plans New Year's Service Christian Youlh Fellowship of the First Christian Church is sponsoring a special New Year's service at the church tonight. The communion service will begin nt 11:30 p.m. and will last until the new year. CYF spokesmen said the service Is open (o the public. many things about the world situation that he cari't liilk about publicly. Commodity And Stock Markets— N«w York Cotton Open High Low 11:30 Mar May July Oct ..\3361 .,'3410 .. 3444 .. 3424 3384 3431 3467 3428 33«0 3410 3444 3413 3378 3427 3458 3422 H*w Orltaitt Cotton M^ar May July Oct Open High Low 11:30 33S2 3383 3362 33BO , ?413 3432 3412 3430 3445 3445 3444 3461 3423 3430 3417 3417 1593-8 651-4 413-4 553-8 97 1073-4 71 1-4 '691-B 81 1-4 N«w York Stocks A T and T Amer Tobacco .......... Anaconda Copper . ... Beth steel Chrysler Coca-Cola ]. den Electric Gen Motors . •. Montgomery Ward .,..'. N Y Central 221-2 Int Harvester ... 323-4 J C Penney .'. 091-2 Republic Steel 47 Radio 281-4 Eocony Vacuum 373-4 Studebaker 3D 5-8 Standard of NJ 773-4 Texas Corp 58 Scars .' 60 i_4 IJ S Steel 421-4 SouPac '.'....'.'.'. 461-8 Livestock NATIONAL STOCKYARDS, 111 Ml — (USDA)—Hogs 6,000; active; barrows nnd gills over no Ibs and all weight sows 25 to 50 higher lighter weights 25 higher: bulk choice 180-230 Ibs 18.75-19.10; latter paid ralher freely for choice Nos. 1 and 2 190-220 Ibs; few small lots 19.15; 240-270 Ibs mostly 17.75 18.50; 280-300 Ibs 17.00-50; 150-110 Ibs 17.50-18.75; lpO-140 Ibs 15.2317.00; sows 400 ins down 15.5016.00; few 1655; heavier sows 13,5015.00; boars 10.50-13.00. and Ohio's hens give (lie state fourth place among stales of the Union in egg production. moderately active and steady on butcher yearlings and cows; bulls 50 higher; vealers steady; few commercial and-good heifers and mixed yearlings 18.00-24.00; utilitty and commercial cows '14.00-10.50 individuals lo 17.00. Vandals Wreck Interior of Home West of Gosnell Vandals entered the home of Ed Schut2, west ol Gosnell. Monday night and virtually wreaked havoc with the interior of the house and all the furnishings, the sheriff's office reported today. Two Blytheville boys, aged 12 and IB, were arrested by police officers yesterday In connection with the vandalism and will be turned over to the Juvenile court. Estimates of the damage done to the house and furniture varied, but most officers agreed that the minimum loss would be several hundred dollars. Reports were that hardly a piece of furniture was left undamaged, and that the Interior of the house was In shambles. The Schutz-family, visiting relatives at the time of the Incident, will have to move out of the house temporarily, the sheriff's office Indicated, while repairs are being made. Bfyfhtvi//* Youngster Gets Christmas With I for 'Two Front T**tft' Ranald Ell(3, con of Mr. wd Mrs. William Ellis, 1321 IColly, got his Christmas wish. Six-year-old Ronnie has been going around with h!i two front teeth missing. Naturally, he wanted "my two front teeth" for Christmas. Christmas morning he ran to the mirror and .sure enough, breaking through the gums was > pair of brand new leeth. Alabama Miss Is Cotton Maid MEMPHIS (IP) — Alice Corr. & green-eyed Mathematics major at the University of Alabama, will furnish the figure to show off the cotton industry's fanciest styles as Mnirt of Cotton for 1953. The 19-year-tAd browiiette from Selma. Ala., was selected last night from a field'of 22 beauties from 12 cotton belt states in the annual contest to pick King Cotton's "ambassador to the world." She' is & feet, 7 inches tall and weighs 124 pounds. Scooter C/wb Volunteers DALLAS (a>>—If disaster strikes here, the 3.5 members of the Oak Cliff Motor Scooter Club stand ready to swing Into action by furnishing messenger service. David Farrow, n, president of the club which consists mostly of high school students, says the club has volunteered for civ!! defense service tinder a national registration pro r< .,,„„« , •—!•"• uuuer a national registration pro- ,ndi«t.i; ' » S S°°V ° penlng gram ' The registration alms at ob- . taining a listing of persons availabl for emergency service. One mile north or ancient Ath ens. in the Grove of Academus Plato taught school and thus gave us the word "academy." Eight Enlist Here During Month Eight men enlisted at the Army and Air Force Recruiting station In City Hail here during December. M[Sgt. C. H, Barton, recruiter, announced! today. Enlisting in ttie Air Force for four-year terms were Eugene O Mays of Blytheville. Charles O. Bowman and Elmer w. Arnold, botli of Roseland. Wayland H. Liles of Rlvervale, Ark., and Ernest E. Daniel of Bunny, Ark. Curtis Carbin of Osceola and Joseph L. Simmons and Billy J. Presler. both of Portageville. Mo., enlisted in the Regular Army for three- year terms. news Lions Hear Top News Reviewed . Top national and local events of 1052 were reviewed by Harry A. Haines, Courier News assistant publisher, yesterday at the weekly meeting of Blytheville's Lions club. Eisenhower's election, reactivation plans for the Blytheville air base, advent of natural gas and dedication of two new churches and the new high school were listed as t<,2*j local and national stories by Mr Haines. Lion Roy I, Bagley Introduced the speaker. EISENHOWER (Continued from Page 1) leaders of his" wholehearted co-operation, adding • he had "every expectation" Eisenhower and Congress will' work together harmoniously. WHERE WILL YOUR CHILDREN LIVE IN 1973? MOX Show Starts Weekdays 7:00 Sat. Sun 1 :GO Always a Double feature TUBS-WED Double Feature GREGORYPECic — PLUS — "TWO WEEKS TO LIVE" Wlh l,\im & Abncr ALSO CARTOON THUKS-PRI Double Feature ^,t,^. tt ,^ fUtitmt+tfrrtt Paramount Presents WARPATH Color 6y TECHNICOLOR """I" f-j f fi I'niujpa —Plus— ^TKMHKOIO* * *U« USM 2 Cartoons li.it kind of homes will your children lm-e twenty years from now? This company already is thinking'about them —rim/ getting ready for them. Part ot the answer can lie found in the new electric appliances still in the early stages of development. There will be new ways of beating anj cooling homes with the help of electricity. Ciareless lighting will come on automatically as darkness falls. There will be electric equipment to kill germs in the air. Most people will have electric kitchen equipment in units which can be arranged in different WHYS. They will be able to talk electronically to any room in their homes. They will have color television —several seta. They will need many limes as much electricity as you use loday. To supply this extra electricity, the electric companies arc carrying forward a tremendous expansion program. This company, for example, has doubled its postwar supply of electric power. By 1960, that supply will be tripled —and still growing. o.' This is one reason why there is no real need for new federal government electric power project^ COLOR TEltVISIOH. There will b« •Imost as many acts in 1913 as (here are radios toilaj". Thai meani moil homes will have several units. HOMI CONTROL Central electric "heart of iho home" will control heating, cooling, lighting, comma- nications— maybe even >rindawi. H«HT-eONDITIONlH» will inclnAi built-in lanlimpg, specUl 6tturM {or lighting eftccu indoors ind otrt, ceiling pineli Ihit glow. THE HOMES OF TOMORROW, LIKE THE HOMES OF TODAY, WILL IE SERYEB WELL IT "MEET CORLISS ARCHER"-ABr>-Frl<!»ji, |;M J. C«Mrai Ark-Mo Power Co.

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