31 Dec 1947
Page 1
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This newspaper page contains 19 articles. Subscribers can read the full text of each article.
Newspaper
Amarillo Daily News
Location
Amarillo, Texas, United States of America
Date
Dec 31, 1947
Page
1
Roger W. Babson writes from New York City in early 1948 predicting market conditions will resemble 1947 with improving fundamentals after a pessimistic mood. He warns readers to beware after November 2, 1948, noting no lasting low mood despite many pessimists.
The paragraph outlines 1948 expectations across industries with possible smaller net profits and dividend reductions. Reconversion to peacetime needs complete, with resumption of some military purchases and rising inventories. Commodity prices shift with Wheat and corn likely lower meat scarcer. Farmers urged to diversify, reduce debt, and seek subsidies amid normal weather.
In Canon City Colorado two escapees George Trujillo and Billy Frank New were recaptured after a mass breakout from Colorado State Prison triggers a snowbound manhunt. Guard Chet Yeo was wounded as the convicts attacked staff and hijacked cars while kidnapping fears persisted.
Three trainmen died when a Texas and Pacific fast freight crashed head on with a local freight 11 miles east of Monahans Texas. Engineers O M Waters and J P Cline of Big Spring and local freight engineer J A Coyne were among the dead. Rescue crews fought flames as 17 fast freight cars derailed and four were wrecked beyond use.
A compact summary notes a post election year shift with wholesale price peak in sight and lower personal income taxes. It highlights Taft Hartley impact on labor leaders, rising suburban construction, election year propaganda and a tilt toward lower long term and low coupon rates.
The forecast covers 1948 economic policy and sales trends, noting possible price controls on scarce goods, continued high retail prices for nonfood items, and a peak in wholesale prices mid year. Farm income should match 1947, with lower prices. debt to decline. taxes largely unchanged with some cuts for higher brackets. Foreign trade will dip, with more loans to businesses and competitive global markets. Continued war talk and uprisings expected.
A contest offers prizes to the first white baby born in an Amarillo hospital after midnight December 31. Parents must present a birth certificate at the Globe News by 6 pm January 5. The winner receives donor gifts. twins split duplicates if applicable. Page 7 lists gifts.
Amarillo and the Panhandle faced fog and drizzle reducing visibility to a quarter to three eighths mile with zero ceiling at English Field. Northeast winds held at 17 to 18 mph as flights were canceled or diverted. Light freezing drizzle possible tonight with a high around 37 and a low near 22. Seven planes burned at Marshall Flying School near Dallas at dawn.
The United States warned against recognizing the Greek guerrilla rump state and warned that aiding or recognizing the rebels would violate UN charter principles. The briefing outlined questions on Greece’s neighbors and the potential impact on UN actions and Greek stability. Lovett spoke on possible future policy and current British and American troop considerations in Greece.
The Weather Bureau reports considerable cloudiness with snow and colder conditions in Amarillo and vicinity Wednesday, then fair Thursday. West Texas to expect cloudy intervals with snow and much colder in the Panhandle. rest of the region colder Wednesday and fair Thursday. Temperatures yesterday ranged from highs around 32 to lows near 32, with sunrise at 7:55 AM and sunset at 5:45 PM.
Soviet Foreign Minister Molotov accused the United States delegation of disrupting the London foreign ministers conference. He claimed U S, Great Britain and France did not treat Germany peace settlement as vital, seeking to remove or postpone it in favor of other issues.
In Alaska, pilot William Munz reported sighting what he believed to be the bodies of two paratroopers and possibly a third near the crash site of the B 29 Clobbered Turkey, 95 miles north of Nome. Snow and low visibility hindered the search as Air Forces officials guarded names of missing Ladd Field personnel and the six known survivors of the eight‑man crew.
Milwaukee dispatch reports independent candidate Henry Wallace unveils a seven point plan financed by UN nations to rehabilitate war torn Europe. The plan creates a UN reconstruction fund administered by a dedicated agency and requires no political conditions on loans while placing Ruhr Valley under international control.
Tom W. Miller age 60 longtime Electra oil field tool dresser and father of Electra Chief of Police Ted Miller died at his home after a heart attack. FHA loans offered for repair and remodeling by Olver Wiggins Lumber Co at 1200 West Sixth Street.
An American editor describes roaming German cities with little to no hostility from locals. He visits Berchtesgaden after interviews with Germans about reconstruction, food, and democracy, noting calm streets despite postwar tensions.
In Golden Gate Park a festive artificial snow event erupts into a near riot. About 30 children and two adults are treated for injuries from icy snowballs as thousands of youths bombard a police patrol car and flee from slipping grass and flying projectiles. Medical staff describe several eye injuries and at least one severe case. Police and park officials estimate 10 000 to 15 000 youngsters attended the scene amid shouting and chaotic scenes.
Clayton H. Rushing 26 of Newton County was charged with three murders in the slayings of Elbert J. Rushing 71, Lessie Hunt Rushing 50, and Woodrow Wilson 12 at the Jasper County farm near here. Three murder counts were filed and he is jailed after issuing a signed statement. Bodies were found dec 20 and dec 29.
The December 30 P A meeting of the United Nations Security Council was delayed for an hour due to snow clogged roads. Soviet Deputy Foreign Minister Andrei A. Gromyko arrived in a jovial mood and quipped that no one blamed the Soviet Union for the storm.
Frank Morcan muses on debt quoting Mark Twain. The piece jokes that debt alarms are louder than the debt itself, suggesting creditors are more distressing than the amount owed. A playful reflection on financial pressure and social fear.
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