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MONDAY, DECEMBER 24, 1951 BLYTHEVTLLE (ARK.) COURIER NEWS PAGE SEWN U.S. Production Records Boom In New War Year Economists Say This Output to Be Exceeded in 1952 By L. A. BROPHT . (Associated Press Business Editor) * America's economic production In 1951 surpassed all records In dollar value. And leading economists predict even this tremendous outpouring will be exceeded in 1952. In the first full year of production since the start of the Korean war, the nation turned out guns and more butter in some instances than people were able or disposed to buy. The Federal Reserve production index (based on the 1935-39 average physical volume or unit production) in 1951, however, did not reach the all time record of the • war year of 1943. It was 239.3 then. In November this year, the index was nbout 219. Some economists expect It to go to 330 in 1952. But in 1951, more people worked than ever before. They had more dollar* In their pay envelope*. Bus- Ine-M continued to expand at record clip. Stocks of goods In factories and on store shelves reached record proportions. However, there wer» trouble •poti, Mounting Inflation, In aptt* •* ftte* fre«e*, and rising tue* made jfc It harder for people, to buy. Corpo™ rat* proflta, alter taxe*. declined. For . the year, they were running at a rat« acme $4 billion under the record of $2£~* billion reached In 1950. Higher t»jw and lower profit* cnt dowm the range and made Ixufnem .un«asy. The stock market, reflected, that. by. going down after reaching a 21-year high in October. What's ahead for lM2f A group of leading economists predicted tha grog* national product (total goods and services) would be $348 billion In 1952. It now U running at a rat« of 1338 billion. One Ineecapabl* reason for that to government spending, ror the fl*cal year ending June 30, 1953, the budget bureau forecast* spending around $70 billion. That compare* to »44,663,000,000 in the ^preceding fiscal year. Defense expenditures, now running at an annual rate of about 138 billion, should reach $57 billion by the end of this 'fiscal year. A ceafie-flre in Korea Is not expected bo slow down the booming economy, in the absence of any drastic changes in the rolling de- ft new high record. The previous high mark was 62, 523,000 In July. In ISM, the all-time high up to tli.it point wa* 62.361.000 In August of that year. Corporate profits after taxes— 18*1— Running at a rate of S19 billion, compared to the record high of tat billion hi 1950. Profits began to decline In the second quarter of this year. They were up in the first guarter as compared to 1950. then dropped off . reflecting high taxes and, in some instances, lower profits due to slackening consumer demand materials scarcities. In the third quarter of this year, they were running at a rate of $11 means. New and higher taxes became effective November 1, with an average Increase of slightly le.w than ll^i per cent for individuals and boosts along the line of excise taxes, For business, corporate tax rates Increased from 25 to 30 per cent on the flret 125,000 o! corporate Income and from 47 to 52 per cent on all over $25,000, with three-fourths of the increases applying to a company's entire 1961 income. billion, compared to $18.4 billion In the second quarter and $20,7 billion In the first quarter. In 1950, the first quarter was $11.5 billion; Ihe second. $!0.6 billion; the third, $25.2 billion and the fourth. *21.8 billion. Bteel — 1951 production is likely to reach 105 million tons, far and away a new record. Last year's output was 96,836,075 tons. Agriculture — farmers should net about $15 billion this year as compared to (12.7 billion In 1950. The ilgh was $11 billion In 1947. Wage and price controls went in- Income classed as excess profits is taxed an extra 30 per cent, so and Jhe effective tax rate on that portion of a company s Income will be 82 per cent. It was 77 per cent. All in all, 1961 mill be > challeng- Alaska Imports Frozen Bread In Dry Ice SEATTLE. Wi—You've heard^the old gag. of course, about the supcr- sale.iman who could Mil refrigerators to the Eskimos. But would you ever expect to hear thai they actually are shipping •frozen bread to Alaska? What's more, the going price for a large loaf (six days old, or thereabouts) Is around 40 cents. It sells at the standard prlre in Anchorage, which Is a booming military center with high price. 1 ; and too tew baker- ies to meet the demand The bread is froien, then packed with dry Ice in wooden boxe«. E»«1| holds 3,000 pound i of breed a ad Irom 300 to 400 pound* of dry to*. And. says Klert Smith, who developed the shipping container, th* bread reaches Anchorage with th« same quality of freshness It had when it left the bakery. MERRY CHRISTMAS , ing year lor business and likely for you. from There ar« M> ( 000 Indiana ki H«w I Mexico. When Was Great Chicago Fire? You'll find historical date», weather data, breeding, planting charts, moon phases, other facts—In 1952 St. Joseph Calendar—— — — and Weather Chart I" H t f_ Blyfheville's Oldest and Most Complete Studio ANOTHER NUN FACES RED TRIAL—Sister Marie Raymond of the Order of St. Vincent dc Paul, pictured with *om« of her charges at the French Mission Orphanage in Peiping, China, facei trial before a Chinese "People's Court." News of her arre«t followed reports that five Canadian nuns were convicted in Canton of "mistreating and murdering" Chinese orphans. This photo wai received in France by Sister Marie'i sister, also a nun. fense effort. . Govern me nt cry st al bail gazers foresee shortages In some consumer goods In 1952, ilue to materials shortages. The National Production Ant h only has announced drastic cntbicks of all types of consumer durable goods in the first quarter o* 1952. In fact, there will be a cut of at least 50 per cent of pre-Korean production in strictly civilian-type prod acts because or reduced materials allotments. However, yon will still find some businessmen, who believe the gnods will be there. They cite present record-breaking inventories and a public tendency to go slow In buying things as reasons. Whether goods will sell at a rate business -would like to see is a question. This Is one of the reasons: along about mid-1951, Mr. Average Consumer began to Stop buying at the rate he had been. The scare buying Korean war days were over. He be gan to save more. Inflation ant higher taxes made him keep hi hand more tightly on his pocket book. The result was that retail bus! ness began slashing prices and put Ing on spectacular sales to mov out big stocks of goods. Bargains •ought buyer* and goods did more fl the shelves. Sr», U this trend continues, bos new will have to continue to scram >ln in 1952 to 5*11 what It think-, ihould and make the profile rtrald like to. But the golden flood of dollar rom Washington that turns In anks, guns and bullets in the na tlon'a factories will provide a stim ulus to keep the economy zooming Here is the way the figures sho 1951's all-time record: Oros* national product (total ra ue of goods and service*. Inclunin business taxec, depreciation charge* and other business reserves)— 1861—running at a rate of $S28 billion compared to $283 billion In 19SO and the previous high record of $259 billion in 1948. National inoome (total earnings of labor and capital from current production)— 1951— running at the ratt of $1*0 billion compared to $236 billion In 1950. Personal income— 1951—running at the rate of $2*3 billion compared lo $224.7 billion in 1950. Employment— 1951—«*£M,M* a* Airort 1991 Mi MIDDLE MAN—Federal Medi- ition Director Cyrus S. Ching, «bov«, hai itepjxd Into the tte*l •wag* dispute that threatens to bring a strike by tht CIO- Steelworkeri Union on New Year'g Day. Ching, a veteran of many tough labor disputes, called iteel management and union spokesmen to Washington • i their negotiation* in Pittsburgh and other «teelmaking centers neared a italemale. PROGRAM SCHEDULE KOSE M* On Yottr Dial Tuesday, D«c. 25, 1951 M OR NINO 7:00— Sim On 7:00 — Southern Gospel Singer* 7:15— Christmas Morning 8: 00— New» Melodies 8:15— Mitchell Boys 8:30— According to the Record 9:00— Standard Christmas Show 10:0j— The Voices of Walter Schuman 10:30— Mario LaniM Sings Christmas Songs 11:00— Christmas with the Crosbys 11:45— Crews star Time AFTERNOON 12:00— News 12:15— Christmas Serenade 1:00— Behind the World News 1:05— Christmas Musical Impressions 1:30— Is There a Sania Clans? 1:35— Elementary School Xmas Program 2:00— The Chrlitmns That Almost Never Was 2:30— Pokey the Xmas Elf 3:00— The Bells of Christmas 3:30— Musical Christmas Time 4:00— News 4:05 — Sundown Serenade 4 : 30 — S porUm* n 1:15— Sign Off effect in January, but wages and At any drug counter ^?"lrrv \ '„* A; •, Always at Christmas time, there comes that special delight in extending to our many friends the greetings of the Season. This year, more so than ever before we appreciate the good will and close friendship that exists between our patrons and ourselves. It is with this fine relationship in mind that we wish you the fullest measure of Yuletide cheer and happiness and a prosperous and healthy New Year.