Alton Evening Telegraph from Alton, Illinois on June 20, 1963 · Page 12
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Alton Evening Telegraph from Alton, Illinois · Page 12

Alton, Illinois
Issue Date:
Thursday, June 20, 1963
Page 12
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Page 12 article text (OCR)

PAGE TWELVE ALTON EVENING TELEGRAPH THURSDAY, JUNE 20,1963 Incomes Steadily Rising By SAM DAWSON AP Business News Analyst NEW YORK (AP) — Dollars speak louder than rosy forecasts to businessmen—and to workers and Investors and job seekers. So, however promising the future looks to the planners, what really counts for the nation's retailers and producers and all other citizens is how the money in coming in right now. For most it is coming in very v/ell indeed. The total of wages and salaries is rising. The sums that stockholders are getting in dividends are at a record high, because the net profits of U.S. corporations have gone up despite the com plaints of a profit squeeze. Retailers are taking in more money, even if they'd like to ring up more. Savings institutions are taking in more money, too. New Houses Builders are starting more houses. Factories as a whole are hiring more employes, despite the mechanization that in some industries means turning out more goods with fewer workers. The average work week has increased. The service industries continue to make more jobs, although not enough more to solve the personal problems of the unemployed. All hands realize that this could change—either way. The expected slight summer letdown could be extended and then the money wouldn't pour in as it should. Or the economy could take off to new heights as the forecasters in Washington hope. But today the dollars and cents figures speak loud. Income is flowing into individual pockets at an annual rate of $458.2 billion, according to latest government figures. This pace is 518.5 billion faster than a year ago. It is also $1.2 billion better than in April, with most of the increase in wages and salaries. This means that the five-point rise in the federal Reserve Board index of industrial production since the first of the year is bejte- fitting the employes as well as the manufacturers. Profit Rising But the corporations are doing all right, too. Early reports snow a rise in profits in the current quarter. In the January-March quarter earnings before taxes to- talled $53.3 billion, compared with 553.25 billion in the final three months of 1962 and with $50.9 billion in the April-June period last year. Rising wage and salary payments have kept most retailers on the upgrade. Biggest advances have been in sales of autos and other consumer hard goods. Both the car and appliance men are confident the better sales trend will continue. Appliance sales have picked up this spring. Part of this is due to replacements. But a large part is tied in with the rise in home building. In May, housing units were being started at an annual rate of 1,728,000, a pace 149,000 faster than i year ago, and 101,000 better than a year ago, and 101,000 better than in April. Brighton Women Hear Hospital Volunteers BRIGHTON — Several at a group of Brighton women who are contributing time in service at Alton State Hospital described their experiences in becoming oriented to their volunteer jobs at the Wednesday evening combined circles meeting of United Presbyterian Women at the church. Those speaking were Mrs. Robert Schallenberg, Mrs. Ambrose Watson, Mrs. Catherine Boker and Mrs. Ed Kuehnel. Mrs. LeRoy Rogers, circle 3 leader, introduced the program. Mrs. Wilmer Eyers led devotions. The business session was led by Mrs. Russel Tucker, president. The circles voted to purchase drapes for the pastor's study. HARVEY AND HIS CAT SPRING VALLEY, N.Y. (/P) —Harvey Schiff put out the cat *ne night and the next morning could not find him. He was worried but started to work as usual in his car pool. A couple of blocks from home one of the men in the car said, "Hey, Harvey, isn't that your cat walking along the road?" He said it was, they picked up the cat, returned to the Schiff house and Harvey put the cat in the living room. When he returned home from work that evening, Mrs. Schiff said, "Harvey, our cat doesn't look well. His tail is droopy, I think you'd better take him to the vet for a distemper shot." So Schiff and cat visited the vet and when he drove in his driveway, who did he see wait ing on his porch? His cat. MEXICO CITY — Two new automobile factories have been approved for building by the Mexican government's economic officials. Read Telegraph Want Ads Daily run. FAMOUS 300 E. BROADWAY I/MOM, FME 8TMESIM '*""• BIGSAVINGS! PICK »HD CHOOSE FROM THESE TERRIFIC VALIES! Our managers have really went all out to come up with rhese BIG BUYS Look at the OUTSTANDING SELECTION for you to choose from. THUR& FRIDAY NO MONEY DOWN! ****.* MAKE YOUR FIRST PAYMENT IN SEPT. That Elegant Look! MODERN TABLES With Heavy Glass-Tops " : our ch * ce $ Crystal clear glass displays smartly designed walnut - finished base. Glass top is extra-rugged thickness with safety polished edges and corners—held in place with gleaming brass accents. 's 3-PC, CHROME DINETTE ro Self f or M «ch Morel 64" high, 30" w i de) 15" MATTRESS or SPRING Reduced for This Sale! WASHER and DRYER SPECIAL OFFER! BED AND MATTRESS BOTH f f' d '"g bed Man-Sire P'afform ROCKER CARLOAD PURCHASE MAKES THIS POSSIBLE YOU GET BOTH WASHER & DRYER WASHER 5 Year Transmission Guarantee Aerated water inlet. Family size capacity. 3 wash temperatures, 2 Rinse Temperatures, Power overflow rinse for extra clean clothes. I Complete With Trade Pay Just $11.00 a Month Due to large factory CARLOAD DISCOUNTS, we are able to make this FANTASTIC OFFER! This offer for a LIMITED TIME only! WE DO OUR OWN FINANCING! We have been making credit easy for people for over 64 years...No need to run around town, we handle everything. Buy Now — Pay Later. WALNUT OR LIMED OAK 4-DHAIVER CHEST Real Value! Special this Sale, Installation $14 of Washer I* G9 DRYER 3 Temperature i Control Open door stops operation, Vacuum Principle—for fast Drying. NO MONEY DOWN ALTON, ILLINOIS, 300 East Broadway GRANITE CITY, Nineteenth and Delmar ST, LOUIS, Eleventh and Franklin E, ST, LOUIS, 227 Collinsville Avenue All STORES AIR CONDITIONED Open 'Til 9 P.M. Mon., Thur. & Fri. • Plenty of Free Storeside Parking It's Easy To Buy At FRANKLIN UNION, No Down Payment!

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