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Newspaper
Cedar Rapids Gazette
Location
Cedar Rapids, Iowa, United States of America
Date
Dec 30, 1945
Page
6
Washington analysis notes reconversion slow with debate over causes. Economists forecast inflation or deflation risks and jobless totals, with millions returning to civilian life. Housing costs rise as supplies tighten, while price controls spark pressure to lift ceilings and funnel materials to cheap housing.
New York stocks closed the year with gains aided by liquor shares led by Schenley which surged on strong first quarter profits. Retail and department store issues also rose on expected holiday sales while rail shares advanced amid rate and debt reductions. Steel output fell to 62.8 percent, and Dun & Bradstreet noted retail trade gains with holiday demand driving money circulation to fresh highs.
Eastern Iowa list shows nominal bids and asks for utilities and industrials. Key names include Central States Elec Co, Towa Elec Co, Fruehauf, National City Lines, Quaker Oats, United Light and Railways, and Viking Pump with varied bids and price ranges of recent transactions.
New York AP reports the American Hotel Association predicts it will be as hard to find a hotel room in 1946 as it has been this year. More rooms exist postwar, but guests stay longer, reducing weekly room turnover. Frank L. Andrews says conditions will improve as population shifts ease, transport capacity grows, and goods supply rises.
Report of conveyances and mortgages recorded in Linn county from Dec 21 to Dec 27. The mortgages aggregate $61,860. Record of corresponding week last year shows mortgages totaling $83,650.
Preston Tucker unveils the Torpedo, a rear engine car touted at $1,000 with claimed 200 mph potential. The model features solid fuel injection, no transmission, 230-pound two cylinder engine, disk brakes, and a governor accelerator to curb speed as drivers adjust.
New York reports a forecast of a record year in 1946 for advertising and marketing. R W Palmer of Printers Ink notes the war advertising council becoming the advertising council to aid public welfare and growth in sales driven copy. television rises as an important factor. S R Bernstein of Advertising Age emphasizes moving merchandise and creating new wants to lift the economy to new highs.
The National Conference of Business Paper Editors projects 1946 gains across industry. Automotives aim for full peacetime output by June at about 7.0 billion dollars while steel works to 80 to 85 percent capacity. Construction, pulp and paper, cosmetics and dry cleaning show major expansion and modernization plans.
Dayton Ohio The ATSC reports a seven day sale of glider parts at Waco Aircraft in Troy drew 110 viewers and yielded 107 dollars for 485 000 dollars worth of surplus equipment. The test aimed to decide on bids rather than burning stock as planned.
The American Newspaper Publishers Association said national and regional groups have formed a coalition to prevent suspensions in publication due to newsprint shortages. Major papers in Cincinnati, Cleveland, New York, Philadelphia, and Washington pledge 3 percent of their supply to aid peers at risk of interruption.
The Civilian Production Administration announced that paper and paperboard allocation controls will be lifted on January 1, while inventory restrictions will remain in place.
Combined hog receipts at 19 yards and 11 packing plants in interior Iowa and southern Minnesota for the 24 hours ending 8 a.m. Saturday totaled 65 000, up from 51 000 a week earlier and 43 000 a year ago. Prices ranged for good and choice barrows and gilts 160-180 lbs to 330-330 lbs, with sow weights 270-450 and 450-1550 lbs quoted at various levels.
A new federal revenue law cuts 5.92 billion dollars from the national tax bill and goes into effect at midnight Monday. It relieves about 12 million of 48 million tax filers, lowers withholding, eliminates the excess profits tax, ends the $5 annual motor vehicle use tax, and grants extra time to veterans to repay prewar taxes.
In Dallas, Maria de Haro uses a department store sponsored program to teach Spanish by conversation, attracting thousands of students. Her informal method, developed after a personal hardship, led to a popular classroom with hundreds weekly and a successful self published textbook.
Cherry-Burrell reports net income of 520 869 for the fiscal year ended Oct 31 after taxes. Earnings per share stand at 1 01 on 445 975 common shares, down from 1 04 on 533 020 shares. Sales total 17 818 985, down from 17 895 968. Backlog grows as price ceilings bite and Cedar Rapids plant expands production for new products. Company plans public offering in 1946 to fund expansion and will manufacture some equipment in Britain and other plants under its specifications.
Cedar Rapids bank clearings for the week ended December 29 totaled 2 148 762 83 dollars, from Clearing House reports. This compares with 1 695 006 03 dollars for the same week last year and notes the week ending December 22 at 3 132 524 90 dollars.
The auto industry gears up for a one billion dollar plant expansion and modernization program aimed at postwar production balance. Twenty five new plants are planned in 12 states, with only three in Michigan and none in Detroit. General Motors will spend about five hundred million with new facilities in Ohio, Michigan plants in Pontiac and Flint, and sites in Ohio, Delaware, Illinois, New York, Massachusetts, Kansas, Georgia, California.
Chicago hogs and cattle receipts show steady demand with top hogs around 14.85 and bulk near 14.80. Cattle receipts near 500 with beef steers 17.00 to 18.00, cows 10.00 to 14.75, yearlings 12.00 to 18.00, feeders 11.00 to 14.50, stocker cattle 8.00 to 13.00. Sheep receipts 1,500 with lambs 14.50 to 15.25, ewes 5.00 to 7.50, feeder lambs 13.00 to 15.50.
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