Nation reassured by reports on industry and labor
A softer postwar mood follows calm in strikes and negotiations as the National Association of Purchasing Agents notes industry is gaining speed. Key metrics show June worker losses at 3.8 million, down from February, while firms like IBM and DuPont report robust earnings and revised dividends. The pace of civilian production remains near an all time high, with labor tightening risks and economists eyeing a cautious outlook for 1947.
MENTIONED IN THIS ARTICLE
Yee Ees Mesa
National Association of Purchasing Agents
Paul G. Hoffman
Studebaker
Walter Reuth
John D. Small
Small
Federal Reserve Bank of New York
New York Reserve Bank
U.S. Steel
Congress Cuts Costs In War to Peace Budget Totals Revealed
Washington report notes the Seventy-ninth Congress appropriated 94.7243 billion dollars over two years to return the nation to peacetime footing. It also describes retrenchment with 64 billion dollars recovered for the treasury and substantial cuts to Army and Navy, while most departments received more this year. President Truman urged department heads to curb expenditures to fight inflation amid a serious financial situation. The piece ends with a coal supply estimate: enough bituminous coal to cover Ohio to 45 feet deep.
MENTIONED IN THIS ARTICLE
Washington
Seventy-ninth
Congress
Treasury
79Th Congress
Army
Navy
Truman
Market Sees Billion Dollar Rise in Lists
New York reports Wall Street approval of the new decontrol board boosted market values by over a billion dollars. Named officials include Roy L. Thompson, Daniel W. Bell, and George H. Mead. Earnings reports and dividend actions spurred gains in Montgomery Ward, United States Steel, and other firms. Retail trade rose, energy and coal output increased, and carloadings and grain shipments faced limits. Cotton rose about 11 dollars in New York, while Chicago hog prices hit a record near 24.50 per hundredweight.
MENTIONED IN THIS ARTICLE
New York
Wall Street
Decontrol
Roy L. Thompson
Federal Land Bank of
New Orleans
Daniel W. Bell
The
Treasury
George H. Mead
Dayton
Ohio
Mead Corp
Montgomery Ward
United States ‘Steel Corporation
Chicago
Debt Refinanced By Light Company
The Iowa Electric Light and Power company refinanced fifteen million dollars in bonds with new series C bonds at 3 percent to replace series A and B bonds. The move extends maturity by 30 years and was announced after recording a supplemental mortgage to First National Bank of Chicago, trustee. Premiums, taxes, and amortization affect the timing of realized savings of about fifty to sixty thousand dollars annually, per company president Sutherland C. Dows.
MENTIONED IN THIS ARTICLE
Iowa Electric Light and Power Company
First National Bank of Chicago
Sutherland C. Dows
Interstate Commerce Commission Authority
Dows
Pillsbury Flour Mills Resume Deliveries
Pillsbury officials in Minneapolis said all company mills have resumed flour deliveries after Washington set new CPA ceilings on flour and baked goods. OPA grants temporary price increases for bread flour macaroni and other items. Mill level price rises of 1.11 dollars per hundred pounds east of the Rockies and 1.24 dollars on the West Coast were noted. Mills in Minneapolis Buffalo Springfield J Atcheson Enid Astoria Ogden Sacramento and Los Angeles began deliveries with the new ceilings.
MENTIONED IN THIS ARTICLE
Minneapolis
Pillsbury Mills
CPA
Washington
OPA
Rocky Mountains
Pillsbury
Buffalo
Springfield
Atcheson
Kans
Enid
Okla
Astoria
Ore
Ogden
Utah
Sacramento
Los Angeles
Terminal pay checks warned against forgers in US
Washington United States Secret Service acting chief James J. Maloney warned Saturday that nearly 15 million checks and 12 million bonds to be sent to former servicemen under the terminal leave program could attract forgers. He noted a surge in forged checks and bond forgeries last year and explained that while banks may cash a forged bond, the original owner can recover funds if proof of non redeeming exists, with losses borne by the bank or government.
MENTIONED IN THIS ARTICLE
Washington
James J. Maloney
U. S. Secret Service
U.I
Veteran Strips For Sun. Clothes Stolen At Park
Cincinnati police rescued 22 year old Thomas Gilbert after he stripped to tan at a park. A thief seized his clothes and discharge papers, leaving him exposed. officers supplied a protective cover for his uniform.
MENTIONED IN THIS ARTICLE
Cincinnati
Thomas Gilbert
Parsons Named Export Sales Manager at Collins Radio
Robert A. Parsons, formerly tied to Gordon Fennell, was named export Sales manager for Collins Radio, in an announcement from Collins executive offices. A Northwestern University economics grad of 1932, Parsons previously led export sales and traffic at Central Scientific Co. in Chicago, and later managed export sales for up to 15 firms through 72 nations at Gordon Fennell in Cedar Rapids. He served as a U S Navy radio technician from 1943 to 1945. Parsons assumed duties today at Collins home offices in Cedar Rapids.
MENTIONED IN THIS ARTICLE
Robert A. Parsons
Gordon Fennell Company
Collins Radio Company
Collins
Northwestern University
Parsons
Central Scientific Company
Chicago
Cedar Rapids
United States
Canada
U. S. Navy
Kintzinger Leaves journalism for insurance career
John W. Kintzinger of 1601 Park Avenue SE recently resigned as a reporter in the Thirteenth judicial district at West Union to join the Equitable Life Assurance Society of the United States. He was admitted to the Iowa bar in 1937 and had previously reported in the Eighteenth district at Cedar Rapids for six years.
MENTIONED IN THIS ARTICLE
John W. Kintzinger
Park Avenue SE
Thirteenth Judicial District
West Union
Equitable Life Assurance Society of
United States
Guarranty Building
Kintzinger
Iowa
Cedar Rapiids
Bank Clearings in Cedar Rapids for Week Ended Aug 3
Bank clearings in Cedar Rapids totaled 2 600 953 30 for the week ended August 3, compared with 2 110 871 36 for the same week in 1945, per the Clearing House report. The prior week ending July 27 registered 2 663 881 29.
MENTIONED IN THIS ARTICLE
Cedar Rapids
Clearing House
Wallace Says Boom and Bust Already Started
Secretary Henry A. Wallace warned of an inflation driven cycle with a temporary postwar boom, a looming bust, and a later period of weak demand. He urged careful planning and price controls to sustain employment and curb deficit spending, citing government council reforms and the need for balanced growth.
MENTIONED IN THIS ARTICLE
Washington
Henry A. Wallace
Wallace
United States
Truman
S.new Council
Lconomic Advisers
Edwin G. Nourse
Brookings Institution
Also Mentioned on This Page
By J. A. Livingston
John L. Lewis
Europe
Paris
International Business Machines
Uncle Sam
U. S. Steel
Eastman Kodak
duPont
Steel
McCall Corp
Briggs and Stratton
Simonds Law and Steel
Kodak
Council of Economic Advisors
Nourse
Associates
Livingston
Jasono Ufr
Sond dFi
Saas
Bureau of Labor Statistics
J. A. Livingston
American Mutual Life Insurance Co
R. M
Iowa Electric Light & Power Company
Stoc Central States fEtgerate Co
Stoc Enterocean
Laplante” Choate. Mfg, CO
Ernest Kosek & CO
Merchants National Bank
N.Y
Nat'l Pvr
Southern
Spiegel, Inc
Air Lines
Sunray Oilee Vee Lly
Packard Lees
Socony Vacuum
General Motors
Col. Gas
Elec
James E. Bennett and Company
Merchants ‘Bank
William H. Jump
Pillsbury Flour Mills
Harry T. Hedges
Hedges . Company
Hedges Company
Hedges
the Hedges ‘Co
Realtors
Phorie
Dr. Forgers
Anderson-Pritchard
Sso Gas
Central States
Elec Co
Central Stat
Cherry-Burrel Co
Collins Radio Com
Teenee
Collins Redto
Fruehauf
Artis
General Public Utility Com
nter-Ocean Einsurance
ter-Ocean Sec Corp
Interstate Inter-Ocean
Sec’ Corp
Interstate Power Co
Power Co
Owesco Co
Iowa Elec Co
United
Waterloo
Wilson & Co
Viking
Robert, A. Parsons
John Kintzinger
Second Street
Knapp and Company
Mer
Nat'l Bank Bldg
Russell F. Knapp Henry Gundling
Dial
Lowell M. Taylor
Sam
Johnson
WMT
Bokorney
Ltd
George
Evilsizer
Service
Mgr
Eighth Street
HADES
Harrison
McCord
Jesse Schepple
Keith Berry
ED Garlinghouse
Ay Bill. Anderson
Karl. Biskup
Frank Whitmore
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