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Newspaper
Cedar Rapids Gazette
Location
Cedar Rapids, Iowa, United States of America
Date
Jul 24, 1938
Page
20
A cross section of more than twenty economists surveyed predicts a definite business upturn by year end 1938. The majority expect a brisk pickup in consumer goods with varied views on heavy industry, duration, and the impact of government policy and credit conditions shaping the timing of any rebound.
A group of economists including Mordecai Ezekiel David Friday Ragnar Naess and Irving Fisher discussed the postwar recovery prospects. They cited deflation of manufacturing and construction costs as essential to maintain demand and profits, while inventories and consumer goods demand show signs of revival this fall. They noted potential for a continued boom if stock markets surge but warned against overheating as the recovery progresses.
Mount Vernon special unveils the first new home aided by an FHA loan. Dean and Mrs. A. R. King hire W. J. Brown as architect and Laurence Hunter to supervise construction. The Cape Cod style house measures 26 by 33 feet with a kitchen living area on the first floor and two bedrooms plus bath upstairs, plus a basement game room.
Mrs. Muriel Mueller and L. P. Davis were winners in a contest sponsored by Standard Glass and Paint Co during its thirty sixth anniversary celebration. Manager Orville Hofford announced with judges Ed Brung Mrs J E Stansbury and Mrs L D Dennis named.
Local securities page notes quotations should not be viewed as firm bids or offers but as indicative price ranges of recent transactions. Readers with interest in unquoted issues are directed to write the financial editor at The Gazette Cedar Rapids Iowa bonds.
A scanned list shows stocks in Iowa utilities and related firms. Central States Power and Light, Interstate Power, Iowa Southern Utilities, and Town/PUBLIC SERVICE CO. figures include preferred and common shares with listed percentages. Includes Rath Packing, Eastern and Western Grocers, and Mags.
The article details a Colonial white home with hidden storage features including a foldable stair step to access a basement, a service hallway to the kitchen, and built in ironing board. The Ferguson interior blends Federal and Regency touches with Wedgwood drapes, copper rose carpeting, and period brass fixtures.
Local blog lists numerous permits across addresses in SE SW NE and NW districts for reroofs remodels new homes and garages and multiple commercial projects. Amounts range from 100 to 18 000 dollars with several fire escapes sheds and remodels noted.
Twenty three Cedar Rapids real estate board members were hosted by Waterloo realtors last week. They dined and enjoyed a floor show at the Russell Lamson hotel and Electric Park, then attended the Waterloo Clinton baseball game. Attendees included A G Bauder Paul H Bedell Frank Nissen L S Hamilton Paul Nissen Charles Burch Malcolm V Bolton John H Deaton W J Conway C M Doolittle Henry S Ely Frank L Buser Paul Clark W Roy Harger James Yuill Carl Thomas John Winn William Breed Floyd Knapp John J Wagner Harold Corwin Bruce A West and Howard Jones.
Chicago wheat finished seven tenths lower amid slow trading and hedging pressure. Corn fell about three quarters of a cent, oats down eight tenths, rye off one and a half, soybeans steady. Canada crop talks and Winnipeg activity weighed little as private estimates pegged Dominion wheat near 300 million bushels, with U.S. consumption at 675 million. surplus near 500 million for export or carryover. Old crop U.S. farm stocks July 1 reached 91.091 million bushels, with interior supplies at 31.833 million.
Linn County Abstract reports for July 15 to July 21 list 78 conveyances and 23 mortgages in Linn County. Mortgage total for the week is $60,493.84, compared with 38 mortgages and $64,867.64 in the same week last year.
Fred E. Collard and company sold the A. C. Switzer apartment house at 212 Twelfth Street SE to Mrs. Anna E. Fenicle of 1656 B Avenue NE who will take possession soon. The firm also handled the sale of the Steven Stolba semi bungalow at 1613 E Avenue NE to Mr. and Mrs. A. C. Switzer with possession in August.
New arrivals Mr and Mrs B J Crocker move from Belle Plaine and lease 109 Fourth Avenue SW, with Mr Crocker joining LaPlant-Choate Manufacturing. Rental through Malcolm V Bolton and Co. also covers 118 North Eighth Street for Miss Annabelle Coover of Oskaloosa. Possession set for August 1.
Bank clearings for the week ending July 23 totaled 1 134 949 06, below the prior week’s 1 279 833 91 but above the week ending July 17 1937. The figure compares with 1 032 745 84 last year and is reported by the Cedar Rapids clearing house. An auto house trailer ad appears under classification 27 A in Want Ads.
Ward's Automotive reports a September car shortage despite an improving outlook for the industry. The survey notes several plants closed for model year changeovers and inventories low at dealers, with August deliveries likely below normal and August sales impeded by model shortages. It predicts employment gains from August into September and a potentially stronger fourth quarter, aiming to avoid field stagnation as new models are pushed forward to meet demand.
A survey of 10 000 June applications shows the average life insurance policy now applied for rising to 2139 a new high. Machinery and metal manufacturing owners report the highest average at 10510 while factory workers decline. Non gainful workers such as housewives students and children make up the largest buyer group with an average policy of 1357.
Frank L. Buser of the Hedges company began work on two new three bedroom colonial bun galows at E avenue NE near Twenty third street.
Experts urge retailers to resist the stock market recovery hype and not push prices up for short term gain. They advocate buying against projected three month needs, warn against hoarding and overstocking as in 1937, and emphasize consumer turnover, lower costs, and wage improvement to boost buying power.
Stock market leaders closed the week with a broad rally driving many issues to new highs. The Associated Press average rose to 50.7 for a new peak since Oct 9, with a weekly net gain of 2.5 points as buyers chased gains in motors, steels, coppers, oils, and other sectors. Prominent names included General Motors, Chrysler, U S Steel, Bethlehem, Anaconda, Kennecott, US Rubber, Eastman Kodak, Johns Manville, and Owens-Illinois amid widespread short covering and optimism.
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