Manitowoc Herald-Times from Manitowoc, Wisconsin • 7

Greatest Peacetime Expansion Continues By SYLVIA PORTER This is the 55th month of the greatest peacetime expansion our country has ever known. This is the 22nd month of the most harmonious and profitable government business relationship in modern times. These are Ing and impressive but still only generalities. What are the to back them up? In the following table, I've put together 10 key economic indicators which trace the tremendous advances in our society since (1) the start of 1961, when the last recession bottomed out and a (2) November, 1963,, when President Johnson entered the White House and inaugurated a new era in government business relations. Indicator Since Jan.

or 1st Since Nov. or 4th quarter, 1961 quarter, 1963 Gross Natl. Product Up 31.2% Up 9.8% Industrial Production Up 38.6% Up 13.9% Employment non-farm jobs Up 7.2 million Up 3.7 million Unemployment rate Down from 6.7 to 4.5% Down from 5.8 to 4.5% Average weekly earnings, Up 20.9% Up 6.8% manufacturing Personal Income Up 29.4% Up 10.6% After-tax personal income Up 28.0% Up 10.7% After-tax personal income Up 20.3% Up 8.6% family of 4, average Corporate profits after taxes Up 89.7% Up 30.7% Dow-Jones stock average Up Up Some of the dollar increases matching these percentage gains are so large that they're almost incomprehensible. Aftertax personal income, for instance, is up nearly $100 billion since early 1961, up $44 billion just in the past 22 months. Our gross national product the value of all the goods and services we turn out is up $157 billion since 1961, up $59 billion since the fourth quarter of 1963.

That 89.7 per cent rise in aftertax corporate profits, since 1961 translates into a jump of $17.5 billion and the 30.7 per cent rise since late 1963 translates into a jump of $8.7 billion. of course, this performance is not an accident. It is the result of the most skillful fiscalmonetary country ever business has poli- had the sense to pursue. Business spending and profits have been spurred by liberalization of the depreciation rules, a generous investment credit' law, outright cuts in corporation tax rates. Consumer spending has been buoyed by income and excise tax cuts and continuing wagesalary increases.

At the same time, until recently, prices have remained remarkably stable thereby giving us a competitive edge in IN MANITOWOC NO ORDINARY ALWAYS FIRST QUALITY IT UP! ONLY PARTICULAR -ING EXTRAS A cascade of natural Norwegian blue fox on bubbly wool boucle. Misses' sizes. $79 MISSES', JUNIORS' AND JUNIOR PETITES' SIZES TO world trade markets, permitting the Federal to follow comparatively easy money policies and encouraging consumer confidence. for granted that this expansion Now what? Now you can take will continue into 1966. It's a virtual certainty that in February, 1966, we'll be celebrating the 60th month of this upturn.

Only once before during the boom covering the period of World War II has an upturn lasted as long and that feverish war boom cannot be compared with the solid, balanced expansion of 1961-66. Plenty of Momentum There is clearly enough momentum in the economy right now to assure this continuation. Business investment and consumer spending are still pointing strongly upward. The retroactive Social Security benefit payments going out to millions of citizens this month will immediately add spending power to the economy and then will come increases in the regular Social Security benefit checks. On top of all this is the buildup in the budget due to the Viet Nam war and Great Society programs.

There are mounting uncertainties and any one who expects today's upturn to continue indefinitely at this pace and in so healthy an atmosphere is a foolish optimist. But this is for columns. Let today's stand on its own as a tribute to our magnificent record for 55 months. (Distributed 1965 by The Hall Syndicate, (All Rights Reserved) NAIROBI Kenya will pave in roads into hunting country. People in the News BOSTON (AP)-Former Am- inspected Chinese Nationals bassador Joseph P.

Kennedy, 76, was reported resting comfortably today at New England Baptist Hospital. He entered the hospital Tuesday for what his doctors called a general checkup. Kennedy suffered a December 1961 and has been partially paralyzed since. LOS ANGELS (AP). Actor George Raft has been indicted on six charges of income tax evasion, U.S.

Atty. Manuel Real says. Raft was indicted Tuesday by a federal grand jury in Los Angeles, the attorney says. Raft is accused of paying no taxes on $85,000 income from 1958 through 1963. Raft, 69, will be arraigned next Tuesday before U.S.

Judge Pierson M. Hall. NEW YORK (AP) Bobby Fischer, 22, U.S. chess chamon, has won his third tance game in the Capablanca memorial tournament. The tournament is being played in Havana but Fischer is cabling his moves from New York because the State Department refused him a visa to visit Cuba.

Tuesday night he defeated Gueorghia D. Tringov of Bulgaria in 22 moves. TAIPIE, Formosa (AP) Maj. Gen. James W.

Wilson, commander of the 13th U.S. Air Force based in the Philippines, before you spend more COAT COLLECTION, THIS! ONLY PENNEY'S HAS IT! PENNEY'S PRICED IT SO LOW! THEN--BEST OF ALL -ONLY ABOUT QUALITY! THE NAME-BRAND FABRICS, THE HAND-PICKED UNEQUIVOCALLY PROVE THAT FABULOUS FASHION flared sweep of with $40 Petites. ONLY! THEN THIS BIG SHOW MOVES ON! DOZENS OF COATS! FUR-TRIMMED OR UNTRIMMED WOOLS! EVEN EVER GATHERED UNDER ONE IN THIS THIS don't miss this coat caravan tweed with softly Butter-soft imported suede collar, demi-fit sit- $40 framed with natural mink. $89 Misses, In misses' sizes. CHOOSE FROM! SMALL DOWN PAYMENT HOLDS IT ON WASHINGTON (AP) The National Labor Relations Board was told Tuesday it should der the Northwest Engineering Co.

of Green Bay, to bargain with the United Steelworkers even though the 1 union not muster a majority in a representation election. A trial examiner, Henry Sahm, made the recommendation, evidence showed the coaxmany offered inducements to the workers to vote against the union in the election. He said the union, through cards signed by Northwest ployes, already had proved represented a majority of firm's 7 753 workers. The NLRB last year ordered a new election at Northwest. but later reopened determine whether the firm should be ordered to bargain without a second vote.

MISS CHURCHILL DIES BUFFALO, N.Y. (AP)--Long illness brought death Tuesday Miss Edythe E. Churchill, 34, rector and vice president of Churchill Broadcasting Corp. She also was operator of radio station KYA, San Francisco, Calif. COMPARE NLRB Urged to Order Talks ONLY PENNEY'S DREAMED PENNEY'S COULD BE SO FURS, THE TAILORNEEDN'T COST A FORTUNE! labeled to show origin of imported furs.

Natural tured wool. Misses square collars softly tex- $60 DIFFERENT SAMPLINGS LEATHERS! MORE SELECTION FAR AHEAD OF FALL! year's Bleached wolf forms the collar on oatmeal tweed. 1. $40 Jr. Petites.

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