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Newspaper
Corry Evening Journal
Location
Corry, Pennsylvania, United States of America
Date
Jan 01, 1938
Page
9
Community officials seek to save road projects amid budget gaps as leaders consider options to cover a $32,000 deficit impacting maintenance and safety improvements. The discussion notes potential reallocations and delayed work pending revenue updates from state sources.
Babson foresees 1938 lifting from a poor first quarter to a Spring rally and a stronger second half. He cautions the year will average about 10 percent below 1937 but credits anticipated congressional relief for business. He expects tax revisions, utilities truce, and limited wage laws as Congress acts to restore confidence.
A forecast describes 1938 as an uptrend with a 5 percent wholesale gain and rising prices amid inflation. It calls for lower farm income, mixed wage changes, fewer strikes, slower building, and a general recovery later in the year. Retail sales dip early, then rise. clothing and fuel costs ease while rents hold.
A market outlook foresees higher money rates and world inflation with expected gains in overseas commerce. The analysis highlights bonds, utilities, and industrials as promising, naming sectors like metals, building materials, motors, electrical equipment, and machinery. The piece urges confidence and opportunistic investing while urging honesty and less selfishness in America.
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