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Newspaper
Cedar Rapids Gazette
Location
Cedar Rapids, Iowa, United States of America
Date
Aug 11, 1946
Page
24
Analyst notes postwar United States enjoys full employment with 60 million jobs and rising consumer wealth. Labor leaders press for wage gains amid strikes while management fights over conditions and policy. Income shifts show wealth moving to middle and lower brackets as demand expands for housing autos clothes.
The piece argues war years raised spending power across the middle class, citing wage gains, asset growth, and broader purchasing for housing, cars, and appliances. It notes concentration declines in income shares, with more households holding liquid assets and a broader base for prosperity.
Frank Max gave away an unpicked crop of peaches to friends and neighbors in West Plains Missouri. That night unidentified persons took the entire crop from the trees. The incident highlights a breach of trust and theft in the community.
The Eagle brewery built in 1875 on North Eighth Street was Cedar Rapids’ premier facility with stone from Stone City and a bronze eagle atop its marker. Christian Magnus, born in 1834 in Germany, led the operation after arriving in 1859 and expanding through Wetzel, later owning the Magnus block and serving as a key civic figure and brewer leader during the era before prohibition.
New York stocks finished the week modestly higher after a midweek rally wiped out starting losses. Major earnings reports included Lowenstein Edison Brothers Stores Melville Shoe American Woolen Monsanto Paramount and RKO with Sears Roebuck and Montgomery Ward posting record July and six month sales. Dividends rose sharply.
Directors at Atlas Corp Jewel Tea and Minneapolis Honeywell declare mixed results as week reports show steel operations at 89 percent capacity, July output a yearly high, coal and electricity down slightly, gasoline up over 300000 barrels, and crude oil output easing versus last week.
The Chicago Journal of Commerce reports National City Lines’ six month earnings up to June 30 1946 show a net income of 1 187 998 dollars. The figure equals a per share amount disclosed in the same earnings statement.
The Cedar Rapids permits list include Hamilton Seed and Coal adding an industrial at 600 Oakland Road NE for 15000 dollars, Coe College constructing a 306 Center Point Road NE facility for 1000 dollars, and multiple dwellings, garages, remodels, and a commercial addition across addresses such as 2915 E Avenue NE, 3200 Soutter Avenue SE, 1314 E Avenue NW, 1125 Eighteenth Avenue SW, 2232 Johnson Avenue NW, 121 Sixth Street SW, 1114 First Avenue NE, 625 Thirtieth Street SE, and more, with project values from 200 to 7800 dollars.
Fruehauf Trailer reports six months ended June 30 net profit of $2,301,253 or $1.88 a share, up from $976,585 or 68 cents a share a year earlier. The earnings reflect 1,191,742 outstanding common shares after preferred payments.
Bank clearings in Cedar Rapids for the week ended August 10 totaled 3,033,133.65, up from 1,908,176.56 for the same week last year, according to the Clearing House. The week ending August 3 recorded 2,600,953.30 in clearings.
A year after V J day the U S economy powers into peace with hoped for prosperity yet faces inflation risks shortages and continued controls. Officials forecast a 200 billion annual production pace and a mix of wage gains and price rises amid labor tensions and housing and foreign trade challenges.
Washington is told that Sam has become the nation’s largest corporate-like entity with about 6 billion dollars in public funds invested across 34 major firms, handling assets over 16.4 billion and a projected 1947 business volume above 17 billion. The Reconstruction Finance Corp and Export-Import Bank face mixed results, while a new auditing drive aims to bring government corporations to a businesslike standard overseen by T Coleman Andrews.
Eastern Iowa market notes summarize recent quotation ranges for stocks and bonds. The figures reflect transactions but are not firm bids or offers and cover several securities across local banks and firms.
Myron C. Taylor, presidential representative at the Vatican, left Rome by plane on Saturday en route to the United States for a visit and planned to return to Rome.
Detroit AP reports industry experts believe American auto plants can reach about 1.5 million cars and trucks in the final quarter of 1946, potentially lifting annual output near 3.5 million. Backlogs and rising prices fuel debate among dealers and executives at Ford GM and Chrysler, with independents holding sizable orders too.
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