New Year Narrows into Trade and Employment Trends
New York reports soaring prices and factory cutbacks in civilian goods as the year begins. Unemployment falls to about 2 million, while employment reaches a record 60 million, with strong retail sales and plans for expansion in shipping, steel, oil, and aerospace.
MENTIONED IN THIS ARTICLE
New York
Washington
Bureau of Labor Statistics
Census Bureau
Maritime Administration
Lockheed Aircraft Corporation
Marietta, Ga
National Steel Corporation
General Motors
Chrysler
Michael C. DiSalle
Truman
Trend of Stock Prices for Past Week Analyzed
An old market outlook argues new methods are needed as fear and inflation drive money into common stocks. It notes the Bowron Industrials peak, potential mild January declines, and possible 1951 ranges from 220 to 260 270 with a later double peak, weighing bear versus bull scenarios.
MENTIONED IN THIS ARTICLE
Bowron
Korea
Russia
State Department
Treasury
Conreese
Themarket
Edison Construction Budget for 1951 Revealed
Los Angeles Southern California Edison plans a 1951 construction budget of 60,585,000 for new plant and replacements, said W C Mullendore president. The figure is about 2,000,000 less than 1950 spending, with the year’s program aimed at delivering an estimated 570,000,000 kilowatt hours of additional generation.
MENTIONED IN THIS ARTICLE
Los Angeles
Southern California Edison Company
W. C. Mullendore
Edison Company
Mullendore
E Bonds cash-ins exceed purchases in 1947 totals
Treasury records show Americans cashed in more Series E savings bonds than they bought in 1947. Cash-ins topped purchases by 354000 dollars, while purchases exceeded redemptions by 75,702,000 dollars. No cashed bonds had reached the 10 year maturity to redeem face value.
MENTIONED IN THIS ARTICLE
Washington
Treasury
Meat Supply Gain Foreseen as Corn Acreage Expands
Agriculture Secretary Charles F Brannan predicted unlimited corn acreage will lift the nation's meat supply by at least three pounds per person this year. He cited 2,000,000 more cattle on U S farms and a larger spring pig crop as factors. Brannan said no one will lack enough meat, with 1950 supplies giving 145 pounds per person and expected to rise to 143 pounds this year due to expanded feeding operations.
MENTIONED IN THIS ARTICLE
Washington
Agriculture
Charles F . Brannan
Brannan
Department
U. S
Brandan
Korea Peace Plan Sent to Nehru at London Conclave
A seven point program for ending the Korean war and stabilizing the Far East was sent to Indian Prime Minister Jawaharlal Nehru at a London conference. The UN three man committee drafting cease fire terms reported progress and prepared to present seven principles to the General Assembly committee next week.
MENTIONED IN THIS ARTICLE
Korea
Nehru
London
U.N
Everday
India
Sir Benegal Rau
Lester H. Fearson
General Assembly
Nasrallah Entezam
Iran
West Coast Ships Production Urged
Rep Tollefson urges Maritime Administration to allocate a fair share of 50 dry cargo vessels to West Coast yards from a 350 million dollar appropriation. He notes East Coast capacity limits and warns of urgent needs if war or Panama Canal status shifts, recalling previous global conflicts and accelerated shipbuilding.
MENTIONED IN THIS ARTICLE
Washington
Tollefson
Wash
Maritime Administration
Jast Congress
Adm
E. L. Cochrane
Panama Canal
Ehipa
Orient
United States
Local Briefs and Meetings Highlight Civic Calendar
V F W Auxiliary meets Tuesday at 8 PM in Veterans Memorial for its monthly business session. Fleet Reserve rummage sale starts Monday 9 AM at 145 Broadway, plus Daughters of the American Revolution hold a sale at the same venue Friday. City Manager Samuel E Vickers to discuss the charter revisions at the January Wrigley Civic Association meeting, 7 30 PM at Mounted Guard Clubhouse 3400 Golden Ave. Meeting postponed from New Year’s.
MENTIONED IN THIS ARTICLE
Terminal Island
Auxilary
Veterans’ Memorial
Fleet Reserve
W. Broadway
Daughters of the American Revolution
Vickers
Samuel E. Vickers
Wrigley Civic Association
Mounted Guard
Golden Ave
New Yeer'ave
Trend of Staple Prices
A brief market note from NEW TOME dated Jan 8 reports on the ongoing trend in staple prices. The Associated press dispatch outlines changes in key groceries and household commodities, indicating whether costs are rising or easing amid current economic conditions.
Crude Oil Production Slips Slightly Across Regions
California led 1950 crude output with 327 million barrels, while Pacific Coast tally reached 326.6 million as daily production hovered near 958 thousand barrels. Industry shifts include defense administration changes and concerns over Interior Department oversight, with drilling activity down nationwide from 2480 rigs to 2406 and Coast unchanged at 1234.
MENTIONED IN THIS ARTICLE
California
Teports
American Petroleum Institute
Dea
Pacific Coast Office
United States
Canada
American Association of
Pacific Coast
Kansas
Senators Call for an $80 Billion U S Budget to Halt Communism
Washington, Jan 8. Senators Douglas and Humphrey urged an $80 billion federal budget to deter Communist aggression, proposing a major tax rise to avoid borrowing. They argued Taft's $65 billion target underestimates needed defense spending, while Truman’s expected request tops $75 billion.
MENTIONED IN THIS ARTICLE
Ashington
Douglas
D.-Ill
Humphrey
D.-Minn
Sen
Taft
Ohio
Senate
Republican Policy Committee
Europe
Flo
Truman
Congress
Conee
Truyoan
U. S
Ken Humphrey
Railroads Seek Ninth Freight Rate Increase
Chicago January 6 railroads plan to ask for another six percent rise in freight rates to offset higher wages and material costs. Major carriers in the east, west and south will file petitions with the Interstate Commerce Commission and state bodies. The nine boosts since WWII would total about 57 percent by early 1946 levels, with the last raise 4 percent in August 1949.
MENTIONED IN THIS ARTICLE
Chicago
Interstate Commerce Commission
ICC
Eastern
President signs $20 billion defense bill to speed buildup
President Truman signed a supplemental defense appropriation totaling about 42 billion for the fiscal year ending next June 30. The bill directs 16.8 billion to the Defense Department and armed services, with 9.2 for the Army, 3.0 for the Navy and 4.6 for the Air Force, plus over 1 billion to expand atomic energy and 1.8 billion to stockpile strategic materials.
MENTIONED IN THIS ARTICLE
Washington
Truman
Congress
White House
Defense Department
Armed Services
Army
I Department
Navy
Air Force
Floods Swell Across Eight English Counties After Rain
Heavy rains and melting snow caused rivers to overflow in southern England. Avon rose seven feet above normal and the Severn ten feet, flooding roads, race tracks, and cricket grounds near Worcester. Thames breached banks at Windsor as forecasts warned of more rain.
MENTIONED IN THIS ARTICLE
London
England
Weather Bureau
Shakespeare
Avon
Worcester
Severn
Thames
Windsor
Taft Speech Sparks Mixed Senate Reactions
Sen Chavez of New Mexico said Taft gave a cine speech and he agreed about 50 percent. Sen Flanders of Vermont also backed Taft's general argument to a large extent but voiced some reservations.
MENTIONED IN THIS ARTICLE
Ohio
United Nations
Korea
Taft
Sen. Chavez
D-N. M
Hin
Chavez
Sen. Flanders
Tides and Temperatures for Sunday January 7
Sunrise 7 a m Sunset 4 59 p m Moonrise 7 11 a m Moonset 4 55 p m New Moon. Tides High 3 Low 1 43 a m 2 1 ft. Pp Mmn 1 9 Foregoing stats by U S Coast and Geodetic Survey By Long Beach Lifeguards Water Temperature St Condition of Surf Calm Friday s Weather Statistics a m 7 1 ft.
MENTIONED IN THIS ARTICLE
U. S. Coast and Geodetic Survey
Long Beach
60 000 North Koreans Join Red Assault
An Air Force spokesman said all but emergency flights were suspended to Suwon air strip near Seoul as Reds push south. Hongchon fell east of Seoul and Wonju was bypassed while UN forces faced uncertain stopping power. MacArthur HQ reported villages between Hongchon and Wonju filled with troops and supplies.
MENTIONED IN THIS ARTICLE
Taegu
Chungju
Air Force
Suwon
Seoul
Gis
Wonju
Hongchon
United Nations
Pusan
Douglas MacArthur
Falien Hongchon
War censorship tightens as Korean War coverage narrows
Tokyo reports new censorship rules forbidding mention of unit names positions guerrilla actions UN lines and troop composition. Allied air and sea forces press an extensive six day offensive around Wonju and Seoul with 1600 planes sweeping the front. over 1000 enemy troops killed or wounded as clashes continue near Seoul and Suwon.
MENTIONED IN THIS ARTICLE
Tokyo
United Nations
Douglas MacaArthur
U. N
Eisenhower Heads to Europe to Organize Defense
President Eisenhower plans a European tour as Atlantic Alliance commander to assess Western defenses and press for equal sacrifices from European nations. He said U S and NATO partners must match American efforts with men money and materiel or the defense program cannot succeed.
MENTIONED IN THIS ARTICLE
Enhower
United States
Eisenhower
Europe
North Atlantic Alliance
Norway
Britain
Italy
Germany
Atlantic Alliance
Shipment of Gold Seized in Hong Kong
Revenue officers report the seizure of 43625 dollars worth of gold hidden behind a cabin bulkhead on the British passenger freighter Tak Sang, bound for Singapore. No arrests. It followed another large seizure of 349000 dollars aboard the coastal steamer Hai Hing earlier in the week.
MENTIONED IN THIS ARTICLE
Hong Kong
Singapore
Tak Sang
Hai Hing
Kiwi Flyer’s Farewell Taxi Sparks Thunder Minn Incident
Jerome Kringle, 23, enlisting January 15, flew his plane for a farewell taxi around Thunder, Minnesota, yesterday. The court fined him 15 dollars and suspended a 21 day sentence for careless and reckless operation. He was ordered to obtain a pilot’s license.
MENTIONED IN THIS ARTICLE
Minn
Jerome Kringle
Kringle
Also Mentioned on This Page
By Richard Fiske
Dow-Jones Industrials
Paul Macgregor
F. Hutton & Co
Yy H. de Ix Chapelle
Alr
Im Seabher, Dackron & Cts
AES
Tyat
Edison
Margaret C. Edson
E. Ocean Blvd
Children's Dental Health Center
Safeway Stores
Kitchen
Kraft
Edson
Freda Dunwoodie
The
Center
Bert Westfall
Safeway Evacative
Emmet F. Riordan
Black Gold Oil Co
Golden Spike No. 1
Nevada
Defense Production Administration
William Henry Harrison
DPA
Petroleum Administration For Defense
Petroleum Adm
Defense
Interior
Chapmen
Chap
Stry
Bruce K. Brown
Secretary of the Interior
Chapman
du Pont Co
Cavalcade of American
Beaumont
Texas
Southern California
Ion
Lang Baach
Alare
Wilton
Lac AY
Needles
Jan Diegs
Avalon
Catalina
Gabe Ou
Bras Jeans Idigen
Pedro As
Alec Ale Ur
Pasa Renies
Sante Sisaica
Silver City
al RA
Jan Bernardino
Assene
Aaa
Rancitca
Or Albugheniies
Reid Ci ‘ ‘Amario -Ba
Aptose
Atlanta
Biemarck
Jackson
Boles Ty
Meusas City
St Louie
Bostonee
Antonis
Battrla
Foea
Medford
Memphis
Seattle
Pitta
Z. Houston
Fairbanks
Red
United Press War
William Burson
U. P
Joe Quinn
Eighth Army
Fifth Air Force
Burson
Lairstrip
Gene Symonds
Symonds
Red Colpmas
Kiwi
Rad WY
Piail ’ Ual
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