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Newspaper
Charleston Gazette
Location
Charleston, West Virginia, United States of America
Date
Dec 25, 1948
Page
3
Washington outlook shows 1949 poised for boom levels in production income and profits amid high federal spending. Risks include inflation, potential tax hikes, and bigger military outlays. Economists expect steady demand, but warn credit curbs and wage pressures could temper growth. year-end data show all-time production and income records yet cautious sentiment persists.
The report notes exports rising but farm prices down 11 percent from a year ago, with an inflationary gap widening between exports and imports. Talks of potential price controls extend to rents and consumer credit as Truman contemplates standby power. Retail trade softens, gray and under the counter pricing fade, wages push for a fourth round, and housing rents edge higher while vacancy drops. Employment stays strong above 50 million as defense work grows, unemployment remains low, and corporate profits reach a record $21.16 billion after taxes in September.
The U S Navy showcased an angle-of-attack automatic pilot enabling stall proof handling and instrument landings, a joint project by the Office of Naval Research and Minneapolis Honeywell. The festival of lights begins at sundown tomorrow and runs to Monday, January 3, with Chanukah programs led by Rabbi Samuel Cooper and participation by local congregants and the synagogue choir.
Washington reports a compact 12 cylinder air cooled engine for Army tanks, 80 octane fuel, 10 hp without supercharger and 1040 hp with it. Continental Motors to build 18.8 million dollar order in Muskegon and a government plant as part of engine standardization. Officials say standardization will ease parts interchange and field maintenance. An official quip contrasts deflation and high prices to a housewives line.
Washington reports U S patent 2465 086 awarded to St Laws University School of Medicine scientists led by Dr Edward A Daisy for a hydroquinone form of vitamin K to extend shelf life. Rights assigned to the university, profits to fund further research. The new forms arise from processing para vitamin K and from raw materials like alfalfa meal spinach soyabean oil liver and fish meal.
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