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Newspaper
Phoenix Gazette
Location
Phoenix, Arizona, United States of America
Date
Dec 31, 1949
Page
19
New York reports 1949 ended with strong gains in industrial output and consumer demand. Outlook for building, autos, appliances, and services is bright with high employment and solid retail activity. Stock and bond markets rose. steel output hovered near peak levels though full year production fell short of 1948 due to strikes and weaker demand. Executives project continued strength into 1950 with cautious optimism.
Canadian press editors name Tito the year’s top news figure while ranking the Soviet atom bomb, British pound devaluation, and Chinese Communist victory among major stories. Prime Minister St Laurent and L. B. Pearson emerge as top Canadian news figures. Noronic fire 119 dead tops national list.
NEW YORK. Dec. 31 AP The bond market sustained a price advance in the second half of 1949 as the Fed shifted from fighting inflation to fighting deflation. Treasury securities municipal bonds rails and utilities led the rise, with expectations of continued climbs into 1950 amid possible policy tweaks if inflationary risks reemerge.
The Puerto Rico Industrial Development Company reports 1949 rum shipments to the mainland more than doubled from the prior year. It projects further gains in 1950 as the Puerto Rican rum promotion campaign gains momentum.
Market notes list nominal prices for bulk western wheat at 46 pounds per bushel, No 2 yellow corn at 2.90, milo at 2.72, and No 1 oats around 3.30. States quotations reflect yesterday figures and apply for 10 days with shipments in arloads.
Detroit AP reports 1950 closed with an indicated output around 6.2 million vehicles. Faced with uncertain demand, car makers are trimming price corners, promoting models, and shifting toward lower price vehicles while expecting possible steel impact on costs and future pricing.
Ward's Automotive Reports estimates United States motor vehicle output for 1949 at 6,249,400 units with 5,118,900 cars and 1,130,500 trucks. The figure surpasses the 1929 record of 4,587,400 cars and 771,020 trucks. Canadian production stands at 5,269 cars and trucks this week. Ward's projects 1950 US output at 5,350,000 units with early 1950s strong production followed by leveling in Q2.
President L. M. Giannini of Bank of America forecast that national income in 1950 would stay about five percent below the all time high reached in 1948. He said continued aid to Europe would lift times at home while American industry must meet tougher European production in the world market soon.
Washington December 31 The government asked private industry to build over 1,000,000 new homes in 1950 and seek Congress funding. Housing Administrator Raymond M Foley said 1949’s record 1,000,000 plus dwellings shows minimum production required for a decent home for every American family. He outlined middle income needs, praised private builders, and signaled Truman will push broader federally insured mortgage guarantees to boost private home construction and aid buyers able to pay 45 to 73 dollars monthly.
NEW YORK December 31 AP firms held a high market level with most leaders at unchanged prices and a few higher. Chrysler dipped from yesterday while Bethlehem Steel General Motors U S Rubber and several others advanced, with losers including Studebaker and Dow Chemical as the yesterday session neared a multi year high.
Los Angeles attorney Welburn Mayock flames James Roosevelt amid California Democratic primary chatter. Mayock accuses Roosevelt of disloyalty and hints at a Truman alignment. Roosevelt plans cross filing for both parties but will run in Democratic primaries only. Earl Warren is unannounced. Lt. Gov. Knight signals possible draft appears.
Livestock markets show fed cattle mostly down 50 to 150 cents from last week with some higher grades steady. calves and stockers mixed. Hog prices declined 25 to 50 cents for the week, with late close softer on lighter weights. Lambs rose about 30 cents from last week, with ewes steady and native lambs around 22 to 23 dollars.
New York Dec 31 AP The bond market opened firm as a surge in railroad issues boosted demand with multiple carrier and allied bonds advancing. Strong gains noted in Big 4s Denver and Salt Lake 3s International Great Northern 6s Lehigh Valley 4s Norfolk Southern Convertible 87 while several other issues rose, reflecting renewed investor interest and loan demand.
A garbled list of marriage license records shows individuals with varying ages and locations such as Phoenix Laveen and Los Angeles. Names include Jo Ann Lorraine Benson Miles John E Carleton, Kenneth Lee Encore, Leona Pearl Wallace, Charlotte Ruth Maddox, Paul L Maddox, and Harlie W. Roberts among others.
Intermittent high cloudiness with mild temperatures continuing today tonight and tomorrow morning. Low 22 to 45 degrees with a slight excess in temperature since December 1 and modest precipitation totals noted. Several stations list varied readings for highs and lows across the region with Phoenix showing 45 degrees and notable cloudiness.
Divorces granted to Corrine Breithaupt from Herbert, Wyley Amberlain from G, Marian Corser from Forrest Sas Lornee from Hobert Hobins, and Shirley Ann from George.
A list of newborns from GOOD SAMARITAN HOSPITAL and ST. MONICA'S HOSPITAL includes names such as SMENABB ROBERT SCOTTSDALE boy and TRAC ell road entries, along with mothers and addresses. Other births record CAVAZOS FREDERICO girl, ESCALANTE girl, and more across Vernon and nearby areas with December dates.
Frieda CHITTICK sues Jack. Various obituaries note deaths of Elisabeth, Chastain, and members of the Reed, Evans, and Brody families. Funeral services announced for Dixon, Hale, and others in Phoenix area. memorials and interments planned at Greenwood and local chapels.
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