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Newspaper
Cedar Rapids Gazette
Location
Cedar Rapids, Iowa, United States of America
Date
Dec 29, 1946
Page
9
The year 1946 was a period of many decisions and notable labor strikes that strained production and prices. Analysts predicted 1947 could be less confusing though challenges remained, including wage and price tensions, potential depression concerns, and ongoing price control turmoil after OPA changes.
Hamburg and Bremen are the chief German seaports.
Detroit AP reports 1946 woes from material shortages and labor troubles hit the U.S. auto industry. 1947 outlook is weak with steel a major worry and six month output likely below late 1946. New 1947 models mainly differ in small styling tweaks while production targets and profits remain tight due to taxes and price increases.
Conveyances and mortgages recorded in Linn county for Dec 20 to Dec 26 reported by Linn County Abstract Company show 67 conveyances and 42 mortgages totaling 169000. Last year for the same week 58 conveyances 24 mortgages and 61850 in mortgages.
Bank clearings for the five business days of last week in Cedar Rapids totaled 2 956 756 51, lower than 2 148 762 83 the same week a year ago due to Christmas. The heavy gift-buying week ending Dec 21 registered 3 415 570 68. Life insurance lapses or surrenders in 1944 stood at 5.3 percent, a 45 year low.
Fortune magazine reports that after taxes and dollar value loss, a $5,000 annual income in 1940 would need about $7,500 in 1946 to preserve purchasing power. Higher earners require far larger raises, with $10,000 to $17,500 and $20,000 to $40,000.
Fortune survey shows Americans still prize independence with many in business for themselves or wishing to be. Median satisfactory income rises to 3232 from 2258, costs up 45 percent. Views on Russia split, with 62 percent opposed to concessions. Truman and Moscow policy cited as supported by the people.
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