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Newspaper
Cincinnati The Sun
Location
Cincinnati, Ohio, United States of America
Date
Aug 06, 1948
Page
8
The CIO News notes GM posts 43 166 in profits per hour and about 1 136 000 daily. six months total 206 763 672. It argues profits outpace wages, suggests price hikes and wage raises could be shared with workers, and cites broader 1948 profit forecasts and industry reactions.
New York dispatch from FP notes Agriculture Dept and meat industry officials warn of higher food prices due to tight live stock supplies. Chicago hogs hit 31 dollars per hundred pounds, canned goods up 2 to 4 cents, and 5 to 20 percent hikes on soups and juices. Smoking products and Ford cars also expected to rise. A federal grand jury in Chicago indicted eight major dairies for anti trust violations keeping milk prices high.
Wholesale meat quotations rose 8 to 91 percent above last year except bacon and hams. Livestock shipments dropped sharply, the second largest decline in 50 years. Total 1948 meat output, including farm slaughter, expected about 2 percent below 1947. Higher prices predicted for the 1948 canned foods pack arriving soon. Trade leaders warned of an impending impact on grocers.
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