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Price Controls and Defense Mobilization Highlights
A 31 day extension of the stop gap price controls law remains in effect with OPS enforcing ceilings. Buyers see marked items and signs showing no article selling above OPS limits. Slaughter quotas on beef stay in force with ceilings frozen as of June 30 1951 for CPR price orders. Charles E Wilson stresses defense mobilization must continue to avoid harsh economic inequities during the Korea war period. Federal Trade Commission reports first quarter 1951 profits down 8 percent from Q4 1950 though sales hit a record 53.1 billion. Smallest corporations show gains in stockholders equity as assets under 250 000 rise to 14.4 percent. Federal Reserve notes retail sales holding, with durable goods weak while apparel strengthens. department stores volatile yet stocks remain high. Prepared by the Washington Bureau of WNU Features.