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Newspaper
Lima Star
Location
Lima, Ohio, United States of America
Date
Jan 27, 1966
Page
5
New York stocks opened with uneven activity as many issues moved fractions. United Aircraft rose about 96 while United Steel edged down to around 51.7. The Associated Press average of 60 stocks dipped slightly to about 368.5.
Ohio honey production fell 46 percent of 1965 from 1964. The decline lowered the state's national ranking from fifth to a lower position as bees were less busy, according to the Ohio Crop Reporting Service figures.
AP reports 1966 may bring tighter government and business controls to curb inflation and sustain growth. Budget and economic policy aim to restrain exuberance, raise revenue, and hold the dollar’s buying power, with possible tax changes, price and wage guidelines, and tighter overseas investment rules.
U S Steel Corp announced a major expansion of its Cuyahoga Works in Cleveland with an estimated 6 to 10 billion spending range and a plan to invest $600 million annually over three years. The upgrades include a reversing cold reduction mill a temper mill and gas fired ball annealing furnaces. Additional improvements are planned at the former American Steel and Wire plant in Cuyahoga Heights.
Washington AP reports President Johnson's economic summary to Congress. It cites 1967 gross national income at $722 billion and 2.5 million more jobs in 1965 with unemployment at 4.1 percent. Wages rose 4 percent, personal income at $530 billion, profits up, farm income up 23 percent, and small-business profits up 7 percent. Federal receipts rose $8.5 billion in 1965 with state receipts up $4.33 billion. The balance of payments fell to less than half of 1964–63 levels.
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