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Newspaper
Cedar Rapids Gazette
Location
Cedar Rapids, Iowa, United States of America
Date
Apr 20, 1952
Page
4
Analysis argues that after a prolonged industrial plateau the 1953-54 period could hinge on congressional tax cuts. Defense demand has cushioned layoffs, but peak production looms and a fiscal boost may be needed to sustain prosperity. The piece compares postwar cycles and notes limited stock market and credit shifts.
Louis S. Schueller of Davenport is appointed assistant manager in charge of the Prudential Insurance Company’s Cedar Rapids agency. He succeeds Richard J G Wurst, who requested a transfer to Wichita. Schueller, a University of Wisconsin graduate, is married with four daughters and will move with his family to Cedar Rapids.
New York stocks showed a dull session with only 340000 shares changing hands and little movement across most issues. Traders awaited government action in the steel controversy and tried to gauge whether the market had bottomed after a sharp prior week, while rail stocks led gains and Texas Pacific Land Trust briefly jumped before intraday profit-taking trimmed gains.
The loan continued to ease while plans to sell nearly a million more shares depressed sentiment. Japanese bonds showed a quiet market as grains fell slightly and curb prices moved mixed.
Eastern Iowa stock notes show price ranges from recent trades. These quotations are not firm bids or offers and indicate market movement rather than committed quotes.
McKesson and Robbins reports nine months ending March 31 1952 net income of 4836370 after charges including 5841777 provision for federal income taxes earnings equal 2.62 per common share. The prior year period showed 5835116 net income after taxes 9280841 provision equal 3.07 per share on 1844469 common shares.
Westinghouse Electric locomotive, now in service with the Pennsylvania Railroad, pulled a record breaking mile and one quarter long train of 162 loaded coal cars. The fuel aboard could heat an average home for more than two thousand years.
New York reports trolley coaches in use in American cities have risen by 132 percent, reflecting broader expansion of urban transit. The figure suggests rapid growth in trolley systems and ongoing investment in public transportation networks.
Bank clearings in Cedar Rapids reached $4,928,205.82 for the week ended April 19, up from $4,629,963.17 a year earlier. The previous week totaled $4,715,988.34.
Charles Keller of Zurich tours Cedar Rapids with Gerhard Schwarz in a German Porsche. Keller touts the car’s 105 mph top speed, 35 mpg fuel efficiency, rear air cooled 4 cyl engine, and 1660 pound weight. He bought with marks due to currency rules and notes export limits amid dollar shortages.
Philadelphia reports that titanium, the newest structural metal, is replacing stainless steel in a planned jet engine. This substitution would save about 200 pounds of chromium, enough material to finish radiator grilles, bumpers and trimmings for 330 automobiles, and conserve nickel for 50 electric ranges or refrigerators.
A British company Western Metallurgical Industries plans to recover 100000 tons of iron plus zinc and lead from slag dumps near Swansea Wales over 20 years. The firm builds a rotary kiln, will employ about 200 men, and treats 1500000 tons of slag to yield 5000 tons of iron annually.
Traer Glen Buchanan buys Sunnyside cafe from Otto and Mrs Hoeppner. Traer C L Bronson of Hampton named Traer Lumber manager effective May 1. Waukon Jack Sparker sells an interest in the Chevrolet garage to Mark Mauss, who takes over as manager.
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