Business and Industry Summary From May Week
Richard Fiske reports a rapid pace in business and industry with civilian goods yielding to defense needs. Steel and crude oil show record outputs while inventories rise. Labor forecasts stress a shift to defense roles, and Dow Chemical plans a $100 million expansion as GE adds to a generator plant.
MENTIONED IN THIS ARTICLE
New York
National Production Authority
Commerce Department
Department of Labor
Ewan Clague
Commissioner of Labor Statistics
Saint Defense
Clague
Storn
American Iron and Sirel Institute
Inwest
Dow Chemical Co
General Electric Company
Schenecady
Treasury Department
Stock Market Week Trends Show Consolidation and Risks
The week shows the market consolidating after prior gains with a dip to the 280 industrial area and emerging support. Recent sessions show easing, amid weak government bonds and proposed tax hikes. A House committee vote to raise taxes by a smaller amount tempered gains, and the carrier sector's faltering push dampened sentiment. The market nears a critical short term phase. holding above 258 could spark a renewed advance, while a breakdown could push toward 2122 support.
MENTIONED IN THIS ARTICLE
Devel
Market Outlook Signals Moderate Pullback Amid Mixed Signals
Analysts note a 5 percent potential correction from recent highs, with volume easing and a bull-leaning trend despite some lighter trading. Institutional appetite for equities remains, while earnings face pressure from higher costs and depreciation, tempering expectations for a sharp downturn.
MENTIONED IN THIS ARTICLE
Mhay
Oil field committees study defense needs nationwide
The National Petroleum Council formed committees to explore how oil and gas can support national defense. Action came at Interior’s Hugh M. Stewart request. offshore leases, storage, substitutes, and transport are among topics. defense demand expected to rise 10 percent in 1951 with a target 6,063,000 barrels per day. Rig counts show Pacific coast activity down. US and Canada total rigs at 2,509 this week vs 8,492 prior week. Various company activity noted in Wyoming, California, and other basins, plus an Engineers gathering in Los Angeles with UCLA’s Dr. Willard Geer.
MENTIONED IN THIS ARTICLE
National Petroleum Council
Hugh M. Stewart
Interior Department
Oil and Gas Division
the Petroleum Administration For Defense
L B Surgeon Discusses Atomic Bomb Effects in L A
Dr Carroll J Bellis spoke at a regional meeting in Los Angeles detailing radioactivity after atomic blasts. He said Hiroshima and Nagasaki deaths were mainly from blast and heat, with radiation accounting for about 13 percent, and warned on underwater explosions. He noted flash burns comprised around 30 percent of casualties and urged immediate treatment with water and saline.
MENTIONED IN THIS ARTICLE
Carroll J. Bellis
Long Beach
Western Association of Industrial Physicians and Surgeons
Los Angeles
Hiroshima and
Nagasaki
Bellig
Japan
Hiroshima
Bellis
Republicans Pick Chicago Believe Truman Will Run
Reported remarks at a political gathering show Republicans eyeing Chicago as a signal Truman may run in 1952. Fallout from the event includes criticism of U.N. peace efforts, praise for MacArthur, and concerns about Korea policy while committee members acknowledge Truman’s potential candidacy. Police report a cash theft at a used-car lot, and former Governor Frank Merriam remains listed as in good condition at St Marys Hospital.
MENTIONED IN THIS ARTICLE
Frank Merriam
St. Marys Hospital
AP Commodity Index Declines For Second Week
New York May 12 The Associated Press Index shows wholesale commodity prices slipping for a second consecutive week. The index drops to 207.54 from 208.33, with a year ago level of 164.21. Industrial and textiles groups, grains, cotton, and nonferrous metals fall, while food and livestock edge up.
MENTIONED IN THIS ARTICLE
New York
Youth Grabs After Man Hurt in Crash Near Wilmington
Victor Negrete, 18, of Los Angeles, was arrested by Wilmington police on suspicion of felony hit and run after a crash on Broadway in Wilmington. Hayes, 63, suffered injuries including sprains cuts and bruises. Police said Negrete drove the damaged car to a friend’s home before officers arrived. A tow truck cleared the scene at Laneford Ave. Authorities noted possible wiring issues and a small fire at the vehicle.
MENTIONED IN THIS ARTICLE
George C. Hayes
Ttfe
Broadway
Parific Coast Invy
Wilmington
Victor Negrete
Los Angeles
Negre
Mayes
Polior
Negrete
Laneford Ave
Negrees
Hayes
Absentee Ballots Return Rate Reported in Primary
The county clerk’s office announced that 72 of 88 absentee ballots mailed for last Tuesday’s primary had been received. Officials expect all remaining ballots by the seventh, after which counts will proceed.
MENTIONED IN THIS ARTICLE
Ite
Archbishop Sapicha gravely ill in Krakow Poland
Adam Stefan Cardinal Sapicha Roman Catholic archbishop of Krakow Poland is gravely ill in Krakow after communism era era. Vatican sources note his health status as of May 12.
MENTIONED IN THIS ARTICLE
Vatican City
Vatican
Adam Stefan Cardinal Sapicha
Krakow
Poland
Europe
Ole Monrlay
Long Beach Masoumic Board Hosts Mothers Day Breakfast
Mother's Day fete to observe at the regular monthly meeting of the Long Beach Masoumic Board of Relief. Breakfast at 8:30 a m tomorrow in the Marine Room Wilton Hotel. Master Masons host mothers wives and friends. The boat is headed by A E Trouger with Walter L Greassner and Robert Shinn arranging.
China Reds Mass Under Smoke for Big New Push
Allied forces brace behind barbed wire and trenches along the 11 mile Korean front facing a predicted major Chinese assault. Despite being outnumbered two to one, U N troops aim to stem the attack as planes, artillery, and patrols engage from Seoul toward Chuncheon and Vijonghu with reports of several skirmishes and heavy enemy concentrations southeast of Hull.
MENTIONED IN THIS ARTICLE
Saan Allliel
U. Ne Patrals
U.N
Sth
Seoul
Huildup
Vijonghu
Demos Threaten Referendum on Redistricting
A debate over reapportionment bills heats up as Assemblyman Waters questions fairness of lines drawn to reflect population changes. Lawmakers comment on past reapportionment from 44 years earlier, while tensions rise after weekend adjournment.
MENTIONED IN THIS ARTICLE
Demos
Legislanue
Liavellin Waters
Los Angeles
Matone
Warren
Marshall Says Russ May Strike in Western Europe at Any Time
Marshall warns of a continuous Soviet buildup in Europe and the Far East, citing intelligence on troop dispositions and satellite-state arrangements. Cain questions if aggression in Berlin or Western Europe could trigger immediate U.S. involvement, and Marshall confirms concerns about Soviet pressure and broader global threat.
MENTIONED IN THIS ARTICLE
Marshall
Western
Europe
Far East
Cain
Western Europe
Berlin
Legion Chieftain urges all-out Korea war effort
In St Louis on May 12 Legion national commander Eric Cocke Jr. assailed U.S. foreign policy and urged immediate all-out action to win the Korean War. He said the nation must fight communism with everything and reject expedient diplomacy, criticizing the State Department and United Nations for appeasement and bargaining with China and Russia.
MENTIONED IN THIS ARTICLE
MacArthur
Marshall
United Nations
Korea
Cain
Truman
Korean
McArthur
National Security Council
Collins
L. Lawton Collins
Army
Japan
State Department
Free World
Joint Chiefs of Staff
Joint Chhiefs
Collens
Air Force
Hoyt S. Vandenberg
Omar N. Bradley
Joint Chiefs
ST. Louis
American Legion
America
Comdr
Eric Cocke Jr
Legion
Cocke
Russia
Far’ East
U. S. State Department
Hong Kong
Boy's Bicycle Used for Work Is Stolen
Jimmy Reed, a boy news dealer, bought a bicycle to speed deliveries. The bike, license 11285 with frame serial F-164249, was stolen from his home at 1085 Hoffman Ave. He appeals for information to recover the bicycle.
MENTIONED IN THIS ARTICLE
Jimmy Reed
Hoffman Ave
Jimmy
Also Mentioned on This Page
By Richard Fiske
Iverlitten
Tlose
Dow-Jones Industrials
William Kurtz Bor
Halton Fe Co
HK. DE LA Chapelle
By Emmett Hiondan
Pacific Coast
American Association of Oilwell Drilling Contractors
Canada
General
Orwig No. 9
Phacerita
Green River Basin
Wyoming
Julesburg Basin
Horse Creek
American Institute of Chemical Engineers
Levy
Willard Geer
UCLA
Brown Drilling Co
Standard Pil Co
Willleas
Bolina
Marin County
Reyes Peak
Von
Tura County
Humble Oil
Newhall Land and Farms No
New Castaic Dunation
Eld
dJergins
West Newport
Las Nietas Co
Whittier
Whitties
New Newhall
Talisman ON Co. Discoverer
Trevis F. Morrow
Grayson No
L. B
L. A
Eighth Si
Chicago
Milnkhr
Pktform
Douglas Abrcatthue
Dwight Eisenhower
G. Harold Brand
Millikin
Colorado
United States
UL. S
Hegi
Saat
Volvestork Grin
Conan
American Ave
Merriam
AP Commodity Index
E. Courson
African Violet Sacisty
Lakewood Pan-American Park
A. J. Marham
Graywood St
Lakewood
China
Chunchon
Conral
Comin Red
U.S
Hull
Seth Warean
Jookers
Tire
WW. S. Coal and Geodetic Survey
Southern
U. Pre
Stouston
Hsia
Helena
Poeatelio
Reine Riah
Portland
Ravinia
Abelnio
Eh Tescon
al yBureks
Oriana Cy
Winnemnera Raiston
Oman
Mac
Arthur
Washington
Aelong
NSC
Agency
Council
Defense
National Saenrite Resources Taatchen
W. Stuart Symington
Vier
Barkley
Navy
Thagerdy
Urerstood
Department of Defense
Department of the Army
Gen
Tam
Senate
House Armed Services Committees
Sen
Russell
D.-Ga
Sen. Cain
R.wash
Secretary' of Defense
Mr. Truman
Marshall Sai
Gen. MacArthur
Knowland
R.calif
U.N. Security Council
Red China
United Press
Nehru
India
Chiang Kai-shek
Formosa
Chiang
Sen. Morse
State Dept
D.-Gs
Acheson
U. N
California
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