The Courier News from Blytheville, Arkansas on November 13, 1952 · Page 11
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The Courier News from Blytheville, Arkansas · Page 11

Blytheville, Arkansas
Issue Date:
Thursday, November 13, 1952
Page 11
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THURSDAY, NOT. IS, l»5t THI NATION TODAY Private Debt in US Has Doubted Since War II By SAM DAWSO.V NEW YORK Hi _ Americans »re tolng Into hock at a record rate Private debt has doubled since the «nd of World War II. The rate of increase is the steepest on record. ' Corporate debt has climbed 82 ' per cent. Debts of Individuals and unincorporated businesses have y«one up 120 per cent. Together ft these groups, owing 141 billion dol- l»rs In 1945,' now approach a debt . total of 300 billion dollars, Add to this the nearly 265 billion dollars that the federal government owes,' and the state and local government indebtedness of 27 billion dollars (twice what it was In 1945), and you have a total of iround 590 billion dollars. Banker* say the private debt Is not out of line with the Increased national income, which was 277 billion dollars last year-and will be higher this year. In contrast, private debt !n 192S was 161, billion dollars, nearly double national Income of 87 billion that yelr. Some bankers, however, fret over the dangers they see in the present situation. First, they worry about the rate of growth In private debt—doubled in the last six years, while in the »ix years before 1929 It rose only 40 per cent. And the last three years have •een the sharpest rise ln-debl. Prl- rate debt Jumped 36 bllllon'dollars In 1950, went up another 31 bll- Uon last year, and Is expected to increase by mother 33 billion this year . , Corpontion plans Indicate ^there'll be at least a temporary Rkwt-electlon upswing In debt offerings — most of them to finance txpansion plans. ; Second, some bankers worry lest something might'turn the ecomlriy downward, slice national income, and, put part of the private debt in Jeopardy. Much of the debt Is in the form of Investment tn plant expansions. Many hold that, certain Industries now have mi:ch greater production capacities than present civilian demand justifies. It will take time, bankers argue, before the normal growth of demand, plus the normal repayment of debt, will work off any excesses in capacity and in corporate and individual debts. Individual debts have piled up from many sources. Home mortgage debt Increased six billion dollars this year, and more than that In each of the two prrvious years. Last year 13V4 million persons bought new or used cars, and about them bought on time. Financing by sales credit companies anrt 'commercial banks came to\nearly.' eight'-billion -'dollars. .: • ' -;.'.'- .;', • • ••• > Television fans still owe an e»- tlmated 150 million dollars on their J sets. And TV companies expect to •ell a lot more-on time next year. Total Installment credit, up two billion dollars In a year, now tops 15 billion dollars. And total consumer debts (including Installment) •re put at 31% billion dollars. Bankers «lso see many offsetting circumstances. They point *it that *n expanding economy always brings with It • growth in private debt. What bankers debate, however Is how much-longer investment nnd debt can expand without becoming vulnerable. Television Play Being Made of Faulkner's Life OXFORD, Miss, (f?) _ Movie cameras are grinding again in this quiet north Mississippi town— with Nobel Prize Winner William Faulkner as principal actor. The famous novelist, who turned his hand . to several Hollywood scripts, didn't write this one—he lived it. Faulkner will represent "The Writer In America" in the television program, Omnibus Theatre, prepared by the Ford Foundation. The foundation said the film, to show Faulkner in his home environment, will "be of great interest now and In the years to come, for Mr. Faulkner undoubtedly is one of the world's great writers." Action're-enacts Ihc period In 1950 when Faulkner returned home from Stockholm, Sweden, nftcr receiving the Nobel Prize for lllerature. The last time "quiet, please," and "roll 'em" echoed here was in 1949,- when a Hollywood company filmed Faulkner's "Intruder in the Dust." Rare White Crow Is On Display LEXINGTON, Ky. W — A white crow, which scientists say is a bird in a million, Is on display at the University of Kentucky's Department of Zoology. James W. Savage, » farmer, shot the bird after trying unsuccessfully to trap it. Prof J. M. Edney, acting head of the Zoology Department , said scientists believed "only one albino crow would be found among perhaps as many as one million black crows." He said-It was the first either seen or'killed anywhere In the United States for at least 50 years. STREAMLINED - Most streamlined "exhibit" at the third'annual Lot Angeles Inter- nalional Moloram'a Exposition Is likely to be Anne Baker, above, • who will reign as Queen ol Iht shew She will "rule" over • hosl of m'otorrtom'! futuristic creatluni. 8 Patton Tanks, Held Up by Reds Arrive in Berlin BERLIN W) _ Eight American Patton tanks — held up for two weeks by Soviet Zone authorities — arrived in Berlin yesterday. ' \ The tanks—slated for the Sixth Infantry. Regiment In Berlin—were turned back by Russian railway officials on grounds they were too wide and heavy for East German railways.- They were allowed through after U. B, army officials Intervened. SEE PAGE Beautiful New Brick Home ' -Located 505 E. Hardln. 2 bedrooms, one and one half tile bath, knotty pine den, large living room, dinins room, Deluxe Geneva us 1?''i « r ? re ™ r> afUched "rase and store room. Equipped with Frljridalre Air Conditioner, central Lennox heatim- system, Steel storm sashes. Lot iM i 185. Price $24,500. ', Just completed this 6 room house and bath at 413 E. Hardln Mlunl «M hMt, attic fan, heautlrm Geneva Kitchen. I,aj-fce '' °" See or Call JOHNNY MARR Phone 4111 Res. Phone 2596 Do Your Christmas Shopping AMERICA'S LEADING PREMIUM STRAIGHT WHISKY 'KENTUCKY STMISHT IOVRBON WHIJKT •I*T I Hi 11 COMPANY, . » , t O O , Korean War Casualties At 125,887 WASHINGTON pn-Tne Defense Department yesterday reported 1.318 Korean battle casualties In a week's fighting—the largest weekly Increase In a year. This brought .to 125,837 the total of killed, wounded and missing m action since the war began. The Defense Department's weck- ly nummary based 'on notification's to families through last Friday reported: Killed In action Wounded Missing Total Ine 266 962 90 1,318 New Toll I 19.712 93.237 12,038 125.837 Deer Hunter Fatally Shot HOPE OT - A deer hunter was fatally shot yesterday near spring Hill, about six miles from here. In a hunting accident. Doyle Gray, 31, of Hope, was shot In the side while a group of hunters was getting out ol a car before going to take up positions at a deer stand. Gray died about an hour after arriving at a Hope hospital He was married and the lather of two children. Revenue Bureau Reorganization Cited by Snyder PHILADELPHIA (f, - Secretary of the Treasury John W. Snyder said yesterday reorg»nl»tlon of the Internal Revenue Bureau has "helped eliminate the temptations to which some employes have succumbed In the past." Snydw, In a talk prepared for ceremonies which Installed appointed officials of the new trl-state tax district of Pennsylvania, Delaware and New Jersey, declared: "The treasury and the revenue bureau have taken positive . steps to eliminate from the service those employes who have failed In their public trust. The work of Congres. slonal Investigative groups has had and wll continue to have our full cooperation." State Republicans Plan Celebration , MTTLE ROCK (/P)-The Execu- i live Committee of the Republican i State Committee met here yester-J day to rnake plans for 'an Arkansas! Republican "victory dinner" cele- brnting election of the party's presidential candidate, Dwight Elsen- hower. The state secretary, p. B. Boyer said in advance of the meeting thai' the Committee-might also make plans for a special train to Mr Elsenhower's Inauguration in January. : NEW FASHION-TOPS Outtlazdisybuy, 2..7O Sin, 34 lo 40 0 Soft, worm Slipon. In 100% vir fl in woo! or qujclc-drylna nylon. Clasik or dreKmaker styles-^ Hnart and comfortable with wilt. In heathm, paifeti or c!ark »W«. Combed cotton 1.98 for miss„ S look how many colorful, weorabl. T-lop» you chooia from ot Wards. Heathtri, stripes, noveltim or tolidi in r classic .fylts. Small, m.rfium „ large s^es. J FINE FOODS •£ PICKARD'S I Grocery & Market FancyPork Nationally Advertised Products | and Fancy Groceries A LARGE VARIETY OF FRESH FRUITS AND VEGETABLES EVERY DAY IN THI WEEK, Fresh Dressed Poultry • Frosted Fruits Vegetables Phone 2043 We Deliver 1044 Chickosawba Hudson Offers Larger Selections For Young Men High Style Suits in Gabardine or Sharkskin There's plenty of style and quality in these suits for the style - concious! Single or double breast models, including new 1-button roll. California style trousers. New natural look features ail models. Compare Wilh Twice Ihe HUDSON CLEANER - CLOTHIER - TAILOR Blytheyille, Arkansas Steele, Missouri

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