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Newspaper
High Point Enterprise
Location
High Point, North Carolina, United States of America
Date
Jan 01, 1950
Page
7
Economist Roger W. Babson argues 1950 will show lower overall business volume than 1949 due to labor conflicts and consumer strain. He warns of fewer wage hikes, pensions debates, and cautious inventory strategies while urging debt reduction and production efficiency.
The 1950 forecast covers taxes, deficits, and inflation risks with a focus on stock and bond markets. Inflation stocks gain demand while utilities and labor-saving firms attract buyers. Bonds stay steady for high-grade issues but price declines loom if rates rise. Real estate shows mixed demand, suburban housing strong, and urban property uncertain. Congressional elections unlikely to shift political power significantly.
New York reports describe a cooperative forecast from industry and government leaders that 1950 will start with strong growth, remain buoyant through midyear, then ease slightly in the second half. Inflation risks and federal spending loom as potential threats, with unemployment expected near 5 million.
U S Steel buys 3800 acres by the Delaware River near Philadelphia as a strategic plant site, highlighting how Truman era pricing and freight absorption rules push industry toward closer markets. The move underscores competitive pressures with seaboard rivals, the potential for regional shifts, and the broader toll on small towns and railroads amid subsidized competition and rising transportation costs.
The note states that re by rail has unknown impact on the cost to the public and that freight rates have increased, marking it as a major item cost. The source highlights higher rail shipping prices and the public likely feeling the effect.
The article notes current estimates for building an integrated steel mill at about 300 dollars per ton, triple the prewar cost of 100 dollars. U S Steel's largest plant at near Chicago, with capacity 5,718,800 tons yearly, would cost roughly 1.715 billion dollars to duplicate today versus about 572 million prewar.
The article argues it would be cheaper for U S Steel to acquire control of eastern railroads than to relocate plants. It cites Pennsylvania at under 100 million for control and 208 million for full stock, Baltimore & Ohio at about 23 million with control under half, noting many ideas seem illogical.
The government of India will discourage non essential construction to support the economy amid material shortages. Minister N. V. Gadgil told the legislative assembly that cinema houses are included in the curbs, while sports stadiums are exempt if not luxuriously designed.
The piece reviews 1949 Wall Street trends with industrials and utilities reaching multi‑year highs while rails lagged. It notes Ford Motor strike, steel wage push, Farnsworth distress, a United States Steel split, a Fed margin cut, and GM dividend bonanza as pivotal events shaping volatile shifts.
New York reports 1949 closed with strong demand and ample reserve power. Industrial output rose, auto sales stayed brisk, and retail volume hit a record ahead of Christmas while steel, coal, and oil showed mixed end-year results and optimism for 1950.
The list shows closing quotations across numerous firms and sectors including Adams Exp Alaska Alleghany Am Can Am Car Fdy AT&T Boeing General Electric IBM etc. Values marked with percent figures indicate price changes or yields for each stock.
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