The Gazette from Cedar Rapids, Iowa • 48

Wat dtriar Kanlfca (Surttr Fortune We Must Cut Higher Profits Reason For Recent Price Cuts irr hTnrl I Spending by Consumer XTTW YORK The Inps-cl V. 5. rz'-z- IN r.ess ar.d ecrjr.ir-er. Is Lbe cf t-2 try- By J. A.

Livingston, i Business Analyst.) note fcj the editors cf rcr.zr.. la the Uaj Jjetu- Thf article tells its tusr.ess read-rj tht; the rzitei Suvn WJI hire to triie sc.e turner r--s tf 1. ts ta rtrp th WASHINDTON A glance at first-quarter corporation earnings reports explains recent decisions of General Electric, United States Steel and Westinghouse Electric to reduce Russian asrace v.th a m-itxry coa-iti: prices. There wasn much else tney couia ao 19 t. Industrial profits are running Wu aharl of a vear ago.

Conse 193-lS-4 rcr- rr.r-J ov Then, Li pcasle ta'lat- a rr ss -m c-; jtt-i ducir-c kvCjt. -oc at a. bca.ue dm irr quently, industrial strategy called tor some public relations gesture, especially if it could be made an Underlying reason lor not granting wage increases. "Social" Profits. Joel Dean, professor of business Steel's plants.

And it would certainly build up a case for a competitive wage demand when the contract expires next April. The biggest year-to-year gain in profits was in Thirteen companies reported first-Quarter net of 144 million dollars as compared with 68 million last year. he i ci J. 1,0:0. cos r-- pioyed no conomics at Columbia university a.vl a Eves frr sw ur.

'ued ci r.ty. irjte- iu. rtr pern. a-T and a man experienced in the art of industrial pricing, made quite rcrrr.e warr-v -cei al rt Vr ft "tiSlTJ. 1 Enough said for why Wall b' iorr.

a.i Vr: r. r'-- Street is going crazy over oil shares. Other large gainers include finance companies, 61 percent, Vi- 1 a point of this in a talk to the U. S. Chamber of Commerce recently during its 36th annual meeting here.

He said: eajs trjd to wrwovit ci which speaks well for the Install 1 a ment selling business; industrial Tk fin a4 irtji r-r abc-t percent machinery, 46 percent; and auto mobile and automobile equipment, our a 41 percent. I I II a Industries which registered de o-: ttt cannot dodge the fact that the level or profits has a bearing on wage negotiations and upon the climate of public and government opinion. For many (pivotal) firms, a goal of 'ocially acceptable' profit is a better pricing guide than i maximum profits." are L.soc 1 1 -i ar. r- clines included nonferrous metals (down 5 percent); food (down 8 percent); steel (down 3 percent); railroads (down 15 percent) and e. g.

lte cJL. r. j. the public utilities (down 6 per To General Electric goes the cent). The railroads have just had distinction of being the first ma- a freight rate boost which takes T-J-r fZ 3 i.k.ll i-Jiv ts r.

l- 1 1 UMT f.t or company to reduce prices this Tx rr a -i g-iy r-jartena as $5,000,000 REA Powerhouse Contract for Construction To Be Let in Next 10 Days effect May 6. That will help their earnings, but will boost costs of other companies. Utilities are still trying to get rate increases from state commissions sufficient to off year. GE's first-quarter earnings were up 42 percent over a year ago from $17,919,000 to So it was vulnerable to large Early Stock Selloff Levels In Late Trade the dirt to move. Amos Melberg is I Power 'Company will operate set rising expenses.

Here's an industry-by-industry breakdown of early-bird first-quarter earnings covering 319 companies: wage demands. The company addressed a letter to its suppliers asking them, in turn, to lower prices. A few did. But the chief effect, as GE views it, was to forestall further price increases. Thus GE was able, in the contractor for a bridge span-(plant as part of its system.

ring Prairie creek. The light com- The power piant will be Ued In 7 Ilm" Wlser. pany will do its own track lay- with the light company'. 115,000 NEW YORK (IT) ucil Ktu.ni my nort 1m. t-rr jnr mm Br tl Vie fAl WW, tni Ircretwd tw tf rnr- CONTRACT for the construc-' tion of a multi-million dollar REA powerhouse at the south edge of Cedar Rapids is to be let within the next 10 days, the Iowa 1 J.

lt Q. Ml Chit Induttr-r (No. cot. in partO volt system. Operation cf the'encousured will frliy e-Lj-f (thoui.

of dolUn) $144,141 i nt Surveying and contracting of plant for eight co-cps by a pri-general contracts has been donelvate utility is a pioneenng step HI wtti and irony cf tivem reirvel from the prrviou es; cloi-g gome measure, to protect its profit tnarein and yet win public favor. Machinery i Automotive in REA history. by the H. PL Green Company. Klectric Light and Power Company announced Saturday.

Construction on the plant is to JmjkZy, tort ti an Js- 41.S-J S3 it. i -r a.L. cr. -a. r- 'j it The eight cooperatives which levels in LgV-er vclurr.e will draw from the Cedar Rapids SelUr.g was heaviest c-r.

plant are: Green County Rural when tr.e railroad iMe led i IHfM start immediately. All equipment, at -jr. e-t 2O.10S ivlllil 18,815 46.HH4 -ei 4s.4s including the boilers and tur-iwSmS Ji bines, has been ordered. The plant iC'm .1 will cost around $5,000,000. It is Hooaewivea Not on Warpath.

is" first-q a Bidi.Ur4 nti earnings were not up so sharply I emic-i GE i only 19 percent. And iron nd ste-i U. S. Steel showed a 13 percent tm decline $33,957,000 against 234,000. A further drop is likely i fa is.

Ik I I tT Fiectric Cooperative, Guthrie decline. Ttus sellcff wu atcr.tx-i cT Rural Electric Cooperative Ass-' entirely to technical factors, but cc-ciation, Benton County Electric as week were on tr r-arket Cooperative Association, Buchan-, leveled ell ar.d traders tecarr. I- Tr.e went 1. 1 a i V.nwA nmn atoH rw The new rail line will cross i Sixth street, street and highway 218. The crossings will be protected by automatic gates and wig-wags.

The first unit of the REA powerhouse will furnish 20,000 kilowatts. Plans call for the addition of a second 20,000 KW unit almost immediately after the first. The building will be built to house such a second unit. rse itf r. ijUate 1949.

i a- 1 1 A a ir sr. itc: c- 4.VS44 4M.IKU week construction Degan lasi mis auarier. as tne resuii oi r- r. a an County Rural Electric Co- cautious over pendir.g labcr ci-s-operative; Linn County Rural putes. rl? Electric Cooperative Association; There were threau of rail- ere rM i t- vn il 1 i a rnnntwtin ff 1 Vl a coal strike.

Totml (Sl) I plant with the main Crandic line iust north of Hawkeve Downs Don not Includr CM or Chryler. tStaowv an increase. rr i.tn a-rr 1 fi- a Maauoketa Vallev Rural Electric road strike, a ct-: It. 1 a P. Cooperative, TIP (Tama.

Iowa, an strike, ar.d a uraJt- The good showing of machinery! (see map), and building materials companies Grading' orw the three and a r- ry rat- Eight REA cooperatives formed5 Poweshiek counties) Rurai t.e-c- out cr e.ec-.ca. i. trvanfj'-y w. "r-. rf ji r.

i rf rutj. -I js ii se a n- 5ia-e 4 is reaany explained Dy tne mgn half miles ine i. being done Nevertheless U. S. Steel is far from impoverished, as Philip Murray, president of the United Steel Worker of America, Mai prompt to point out when the company denied him a wage boost.

First-quarter earnings came to $3.18 a common share. For the full year, earnings may the power co-op which will draw; trie Cooperative and the Marshall en. A steel strJte seer as on the Cedar Rapids powerhouse, i County Rural Electric Cooperm- out of the question because of a The Iowa Electric Light and tive. contract Umrj f-nkes. by the Lowe Construction Com v.e- cf tre fart 1 t- a rti r-eiy tipor.

js cr r- 'zr a- t. Cr level of business expenditures on new plant and equipment. Expec pany, which has 80,000 yards of Aside from the labcr news, t-e tations are that 1948 will exceed 1947, which suggests that produc v-e trere leu at- market had a food tion and profits ought to be well 1 rr 1 1 -e I 1 'ice 4-cay itoc execar. II- sustained. leeA's Most Aciive N.Y.

Stocks ended with a tie stock exchange, arccrdirj tc Street expert! who held teat tre A p'. er r. ru ct.l.r rr Fcrtur.e "V-. Meanwhile, the immediate test of the wage structure hangs on what the railroads do to stave off a strike. It's not usual for railroad workers to carry the ball.

Volume settlerr.er.t was a severe setback 141,300 for the union. cf craft production on a large scale exceed last year's $11.66, which was the best year since 1929 when the company earned $20.27. Though high profits make shining targets, union leaders aren't in a positirn to shoot the Works and strike. Rank and file pressure isn't there. At this time last year, housewives were on the warpath.

pic.ty rt. watts bt er cr-' r-. t-t. DIVIDENDS SET RECORD Socony Vacuum Oil Sinclair Oil 105,500 helped that group and ccr. Canadian Pacific the market after the Mend ay sell 103.900 1 7fvi Freight Cars Can Be Weighed on the Run In a year living costs had gone up MINNEAPOLIS (UP) Minne- ea e-e.

i i i High Low Close .19, 181- 19-4 20 14 22H 141 .14 13tt 13H 13 13H 10N ll1 .3 2 24 .11 10 11 .164 15L 15H 26i 27Ts 3N 3 3 6Va 5N 6 .31 23 29 14 181.32 180.28 180.28 58.34 57.49 58.05 34.22 33.89 34.02 arc va ure: fT fcriwrtr'j and cn -r. jtrta.l Tb ii-dustry 1 nr-w at a trrt 9 cf year tut de ar.i a' aa fart" Tt-e anjwer -jt Lt ir. red-i cce-surrpticn. "It 11 rT to isc thai s. Sunray Oil Bait, and Ohio St Regis Paper Comw.

and Southern Radio Corp New York Central Tidewater oil United Corp Kansas, Texas Anderson Prichard Oil. for weekly earnings. But now the railroaders across the nation with 76.500 Ci Output Up. 62.000 1 Ccal output at 11. II-? trr.s.

58.700 compared with 7.71 5, OC-0 the 58.000 previous week. Steel production. 54.300 at 85 6 percent of capacity, turr.ed out 160.900 tons cf rteel ir.grts 48, 400, against 80 percent and 1.4 42 CX 45.200 torts in the preio'us r-c Cr- of living has leveled off, acc-c-s a revolutionary "rolling train" freight car weighing method now In the last 12 months, living costs have gone up only 7 percent, as against a 10 percent rise in undergoing tests here ei The system, which could change i I average weekly earnings. That commercial weiehiire methods Averages Industrial Rail Aver explains the sudden crystallization completely, runs individual freight of management's attitude against cars over a stationary scale at off 2.62 Off .52 off .0 e- 17 wnce boosts. three miles per hour.

An auto- Risht now, incidentally, the fail-; matic register shows front and loaair.gs rose to 552.3.5 cars frcrs 73.668. Cor.structim rsr. up to 1 3 third largest week of the year. That was an tr.creave cf 34 percent over the prevtcuj week total of $136,743,000. Crude oil producUon rce to 5.415.400 barrels daily, ar.

alltirr.e Furnished by James E. Bennett and Company, 402 Merchants Bank building. Telephone 9151. William H. Jump, resident manager.

ure of the United Auto Workers rear truck weights, which permit a in iae me six-cem-an-nour oner computing tne total weight By Lou Breuer. It is estimated thousands of dol or Chrysler (since withdrawn) looks like a mistake. Fairles Vs. Murray. AT LEAST twenty-five planesjing the week, attending the na- nn Board of Review were to leave Hunter field at! tional meeting of Beechcraft deal- Dara OT lars yearly could be saved, since handling time would be cut sharp r- 1 trains could be weighed 7:30 a.m.

today headed for Iowa vfin mwuuuT mint up ly and a.th'x.g-d own a jaj-1 all 1 line outrt as to iaKe part in tne iirst an-i 5 rte-r a Phil Murray has jumped several while in motion, notches in public esteem as a unn roumj new roru 01 rve- nual flight breakfast sponsored by At Muny, Manager JranK ni- amount. Ithe Flying club of that city. dinger reports that Lee Winger's view will convene Monday at 1 Better weather ar.d prrv- The breakfast will be the first lar wa Iiven trial run a.m. in the assessor's office on the motion sales tuiuired retail trade function of its kind in this area so Friday when all toe United m- floor of courthouse. which as 6 to 10 ever Cp i 3 0 a oi Yoa Can INCREASE YOUR TAKE-HOME PAY Cwnbis ALL yr bck a4 eaak e-e-ii ka a Ww-ot Morr rVaa kaa.

0-f-Jty nrrrte Asa aben tl LOANS mi IJ TO Sl iM OR MOU IV, far thie pioyes on uuiy anu me nv men corres por.a ir. wee ci iar tnis season. I The board will orsania. select- Sfoclcs ond Bonds Of Interest in Eastern Iowa neia a iu a.m., urae-oui-iui -cui-, year, r.Ciesaie trace ae.a fee session. Muny's progress has ing a chairman and setting dates seemed slow, at times, but it's to hear complaints on tax assess- i Bm finally beginning to look like the' The market lost rrc.r.d ilir-tlr keeper of contracts.

He's not going to strike this year even though he was, made to look bad last year. After settling with Murray on a two-year contract calling for a 15-cent-an-hour increase, Benjamin Fairless of Big Steel turned around and granted John L. Lewis 31 cents an hour. That puts U. S.

Steel on the spot now. If, in July, Fairleta appeases Lewis again with a wage boost, Murray and the steel workers will hav a grievance which won't augur well for efficiency for high productivity in U. S. 111 r-a 1 la uuiaiur li 1 i i ui 4 Next flight breakfast on the calendar is scheduled for El-kader. May 16.

That affair will be an all-day show starting with a 7 a.m. breakfast. Included in the program is a real thing. i on the week, but closed hifter The ollotptno quofafloiu ore not to be- construed a firm bid and offeringi but indicate price ranges of recent transaction. talk by Gov.

Robert Blue and an Next step should be a fixed base Mflul for the month cf April operator and if the airport com-: review board. a new volume huh ior rr.cr.th mission can get one set up in the' Members at the board are Ben lirc September. 1546. The rum-next month or two, things should HoleU, route 1. Cedar Rapids.

pvrr wmf April really be humming around Muny s- M- "7. Center Point; Charles tlnc9 1938 by falL Hedge. Mt. Vemon; George, iweT t.rr.ir.n for the TPC9 Mhu "nd P- C- Len. Steel comper.tee Marion.

I i a aerial circus performance in the afternoon. Propwash hopes to have more of the details next week. AJiderson-PrlUhsrd Oil Co Co mm Central Stst Eoe Oo 1 pfa OW Ofnirsl 8unes El Oo Pii OW Cherry-Burrell Co Common Clinton Industrtoa ja Collins Radio Common at. Collina Radio PreferrM Ourua Co iyt Eddy Papw 97 Fruhauf Trailer Common JO 34 2 7a 43 114 100 01 V. Lt.

Col. Lee C. Wood, execuUve i officer of the 211th composite TED G. SPECHT I Squadron (air reserve), was in ao pjir. i or rowT.

-t ua wtt- eatier. i I i l-: more than 3 in necticr; cr a poor earrurcs Realizing brovrht the epp down as much at 2 Seaioned Iavitmat Yield PrefitcbU RtrHrmi Rttumi luertast Yeir Iicobi brnmnrt WA Tshlt meney tirai lit s-rr tar er fV shares ef rrehEf TraU-r Ces-reon tek. arxllarit new ftr Stiff. charge of the program at the regular squadron meeting last Wednesday night. erufbauf Ttailar 4 Fid 79H General Public Utility Common 13.

lntr -Ocean Reinsurance. Common- a Inter-Ocean Securities Oorp' 4 Pfd 25 par Real Estate And Mortgage Reports One of the finest information-packed volumes to cross this desk in a long time arrived in the mail Friday from the Eaton Manufacturing Company of Cleveland. Called "A Chronicle of the Aviation Industry in America, the 98 pages of the publication contain 280 illustrations of ministration a dry one in most1 cases but Wood put a kick in it! Conveyances and mortgages re-j average Mgjed oei that kept everyone interested. He corded in Linn county from April cf -J rer-er4 isicriccftn bwinuti corporation. Common Iowa Eire Oo 4 191 100 104 Iowa flee Co Pld 44 Iowa Kec Co 6' Pfd 80 Iowa Elec Pfd US' rr.rST: rmm m4 1 a- i i r- a rm ry a or rr-ore.

rr iifm-Ki ft tsnr ixritM inr lhj adii i. rfoor.ea nearly every type of private and military aircraft that ever got off ioa tiec fr sfr ins low a Elec Lt At Pr 8 Pfd li6 LaPlant-Choate Co Common S'4 LaPlant-Ctioate Co Pfd 10 lions Bell Lumber Co Common. 18'. Merchants Dlstilhna 5 Sharp fairj wt r- ported by Starve a rrl (N J.l, Gull Oil." PTUi.pa mri Texas Corr.par.y. the ground.

discussion of current events in by the Linn County Abstract Com -Czechoslovakia. taken from a are: copy of Armed Forces Talk- Number of conveytneet 84 (Number of mortgages 45 i Mortgages aggregate 1149,373 The text goes back 7 31 'i 19' 4 8 35 20 '-i 31. 150 89 Hermitn Kuoiisninc 00 33 National Oats Common 19 4 The self-styled great r.MG: a st i a as pmwm aw, --niaaja ar a.aw4.4rr9 I uea DiviDODs. rTT. '-jr "aJtwa I "in awar tw i 1 wM awM rCwaMa mm4 aJ ma taas S-v a.

Sunc Week Last Tear. est airline" is going out of busi- BANK CLEARINGS ness. oi convejsnces iiu 34 20 The doomed outfit is the Naval 'Number of mortgage 67 renica Ford Ltd Inc Common 30'i Quaker Data Co 6 Pfd 14 Quaker Oata Co Common 6 Stoux CStr Gaa A Electric Common nvi United Licht and Railway Common la TJnlued Lt Rya Co 7 Pfd 1H United Lt Rya Co 36 Pfd 1H United Lt Az Rya Co 8V Pfd 1M Waterloo Cedar rails A Nor Common 11 Waterloo Cedar Fall and Nor Inc 1982 71 Wilson A Co 4V; Pfd 83 "4 Wilson Co Common 144 Ripsi' O-Jtr -s La-jtif to March 23, 1903, vOhen the Wright brothers applied for patents on their improved glider and flying machine. Skipping: throug-h it briefly Friday we found that 25 years Ago today, May 1923, Lts. J.

A. Mxcready and Oakley Kelly took off from New York for San Diego, arriving: there 26 boors and 50 minutes later to become the first pilots to cross the continent nonstop. Air Transport service, which is Mortgages aggregate S258, 133 Bank ir. Ce-dir Rap: if going to be absorbed (the navy 'for the aek er.ded May 1 men say merged) by the air' In September. 1947.

the average S3 .3 08. 4 50 SS as corr. pared to 1JV, force's bigger and better known worker in the average American 430.439.20 for tre VFSrMsEKy? Co. VM17 it' 75 87 14 Air Transport command, which manufacturing plant had take- week of a year ago. Tre tcta.

zr home pay of $50.42 a record high the week ended April 24 wi IJ, at that time. s771.t94.8f. will soon be known as the Military Air Transport service. -NATS, which was formed a 'Save Human Scrap' In tha plan of everyday livlnc. one fact itanda-otit Income Must Oo On.

Phone 3-8013 and let me show you how tha "Policy With A Heart" piiUsilil few days after Pearl Harbor, con-, Is Industry's Plea Is used to protect your Income Erat K.oa4 sistently had a lower accident rate than ATC, and last yearj flew" 500,000,000 passenger-miles Three solo flights were at Hunter last week, all by thna guaranteeing your ability to keen your present Insurance in force, pay current expenses, as well as doctor, hospital and medl- cal expenses for all accidents. Additional benefits may be added. without killing a passenger, de-1 ceaar riapias men. They were NEW spite the fact that 75 percent of its flights were made over water, i R.M-1 f. Ca INVESTMENT FIRM OPENING 4.

sucn as income to your iamny arter 1 feath. etc. i KEN P. QUINN AGENCY I. JO HIOLET BLDG.

PHONt t-Mlt I C. M. Boland Walter Fry Roy R. Orr Ted G. Specht Paul Cerny, Paul Drahos and George Auld.

Charles Blaha earned his private ticket. Jim Wathan and Dan Hunter spent three days in Chicago dur- CHICAGO (UP) The American Business Men's Research Foundation says that derelicts on the nation's "skid rows" should be salvaged because of the "shot-in-the-arm" they could give United States industry. "II industry conducted a campaign to save human scrap as it does to collect metal and rags," the foundation asserted, "thousands of workers would be added to American enterprise and the demand for goods would be increased sharply." The U.S. aircraft industry grew from an annual production of $280 million in 1938 to $20 billion in 1943. ANNOUNCES CUR ker rTf-ff fy ft cj'ft to te St.

L-te'i Ho- Monday, M.y 1, It4l Occidental Life Inaaranr Company Calif. ji Uaen Ta Heartbeat Of Rtrtaa" 13 44 tanday Ova KCBO JOHH J. JACOBS III Says FlGGE, VAVRA CO- Afrmbers Chicnjo Xtock Izchanpe Every young child dreams of the day when, he or she can go away to college, but how many get to go? Parents ill have good intentions, but wait until the child is college age and then find the load ia too much. Why not start now through an educational policy with us. 407 MarcKarrfs National Kant kWrft CEDAR RAPIDS Telephone Teieyp 3-3S93 CR 23 Subscribe to Cedar Rapids New Telephone Secretarial Service! WE ANSWER YOUR CALLS MAKE YOUR APPOINTMENTS -r TAKE YOUR.

MESSAGES OCa TRAINED SECRETARIES Answer your telephone Just thorh they were in your office. For full information DIAL 8195 TELEPHONE Secretarial Service JUNIUS M. KEG LEY CERTIFIED FUEUC ACCO LKT ANT ATTS JOHM S. VAVRA REGINALD B. RSSC 'f'.