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Newspaper
Phoenix Gazette
Location
Phoenix, Arizona, United States of America
Date
Dec 31, 1949
Page
20
Washington December 31 AP government urges private industry to build over 1,000,000 new homes in 1950. Housing Administrator Raymond M. Foley says 1949’s record 1,000,000 plus dwellings is a minimum, aims to aid middle income buyers and renters with mortgage guarantees and federal aid.
Detroit reports the auto industry closed its biggest year with an indicated output near 6.2 million vehicles. Prospects for 1950 depend on buying power, with demand not yet satisfied and a shift toward lower priced models. Price cuts in optional equipment and more promotions signal tougher competition and possible continued declines in car costs despite steel price hikes.
Washington December 31 AP reports consumer credit reached a record 17.823 billion in November and is expected to top 18 billion for 1949. Installment debt also hit a November record 10.45 billion while charge accounts rose by 257 million during the holiday season.
The Anthracite Institute estimates 1949 hard coal production at about 40.41 million net tons, down 25 percent from 1948’s 54.29 million. The drop is blamed on unseasonably warm weather and the resulting competitive losses for miners.
The New York stock market struggled to hold gains as profit-taking trimmed yesterday's high flyers and buyers were scarce. Trading showed a mix of small increases and declines with leaders near Friday's levels. Saturday activity was better than average, ending with turnover over 2,000,000 shares for the fifth time that year.
New York based report notes a sustained price rise in the bond market through the second half of 1949. The rise stems from the Federal Reserve’s shift from fighting inflation to deflation as the new risk, with Treasuries, municipal, rails and utilities bonds leading the climb toward year-end peaks. Observers expect further gains into early 1950, barring renewed inflationary pressure and another Fed policy shift toward tighter money.
New York reports 1949 closed strong with ample reserves and a positive outlook for 1950. Industrial output rose, consumer demand stayed firm, and retail sales hit record highs. Steel activity remained solid though down from the peak, with year end optimism among executives about early 1950 growth.
The New York Stock Exchange closes with a dejected tone as prices fall across many issues. Trading volume remains subdued and stock changes show a broad downbeat across sectors.
Summary of stock prices and dividend annotations for several companies including Yale and YorkCorp. Indicates ex-dividend dates, cash and stock dividends, and annual disbursement context. Notes approximate totals for today and previous day and compares year-to-date performance with placeholders for dates and values.
Washington reports that the United States must create about one million new jobs in 1950 to avoid a return to prewar unemployment levels. Officials see job opportunities improving late 1948 into 1949, but caution that January February 1950 may exceed 4 million unemployed.
President L. M. Giannini of the Bank of America predicted 1950 U S income about five percent below the 1948 peak. He said continued European aid would boost U S prosperity but warned American industry must ready for rising European production in world markets.
Scott Lord 68, assistant treasurer of the Union Pacific Railroad, will retire tomorrow. A. E. Stoddard, president, said Lord will be succeeded by L. L. Burris, chief clerk in the Treasury Department.
Dow Jones reported mixed early market action with several rail and industry issues. Traders watched furniture and brokerage shares while bonds edged higher as investors awaited later economic data and corporate results.
In the week after Christmas the wool market showed little business with mills limiting orders to sustain inventories. Medium wools remained in fair demand, while 4-blood Territory values stayed firm around 1.15 dollars for clean wools. Fleeces saw movement in 4% and 4%-bloods as spotty turnover continued for lower grades amid scarce supplies.
A brief market session saw a firm undertone as railroad bonds rose from small fractions to points. Big four percent bonds led gains, with Denver and Salt Lake 3s, Lehigh Valley 4s, and Norfolk Southern Convertible 5s advancing. Southern Pacific and Missouri Pacific System issues followed, while American Telephone bonds lagged. Government and foreign dollar activity remained light.
Quotations show No 2 white or red wheat bulk 3.70 to 3.75 per 100 pounds with about a week’s spread. Oats at 3.25. No 2 barley around 3.72 and 3.25 for oats with parley 2.75. Overnight figures cited as yesterday’s.
Marriage licenses listed show Aldridge Green and W G 73 Jo Ann Lorraine 18 both of Phoenix. Benson Miles Ona B 18 both of Phoenix. Arleton Brown Zella legal age both Cohen Biddle Monnet Lee 18 Tricia age 5 Mack Wallace 20 Leona Pearl E of Phoenix. Harold William Los Sree Margaret 3 Miami. James Calif Charlotte 49. Bin Elizabeth Blaine Han Cal. Too Late To Classify.
Intermittent high cloudiness with mild temperatures through today tonight and tomorrow. High near 75, low tomorrow morning around 50s. Precipitation none in last 24 hours and since Dec 1 total 0.92 inches. Airport and city readings list typical humidity and temperatures. no major weather events indicated.
Corrine BREITHAUPT from Herbert W. Jane ERLAIN Wyley P. from Peg CLAIER Marian T. from Forrest Harold ir Davis Lorene A. from Hubert HOBBINS Shirley Ann from George Miller Charles W. from Helen PIKE Raney Elizabeth from William P Annulment Thomas Alita Mae from Donald WEST Betty Jean from Clarence Howard Sharp Dorothy vs Clyde J. is dismissed on motion of plaintiff.
The Arizona Republic and Gazette Evening in Phoenix publish their subscription prices in advance for Arizona and out of state delivery. Rates include monthly, 3 month, and yearly options for Republic, Gazette Eve, and combined subscriptions. Also notes service by United Press and AP, with policy on errors and advertising hours.
Numerous probate and divorce notices dominate the page with filings by TTICK Frieda against Jack, Henry against Elizabeth, and others across Phoenix and surrounding communities. The column lists interments, memorials, and service details for multiple individuals, naming Adams Whitney Mortuary, Memory Chapel, and Moore and Sons as conductors, with scattered references to local churches and cemeteries.
A births list from Good Samaritan Hospital reports multiple newborns with details of parents and birth dates. Names include Sir Derma Alvin, a boy and a girl at Vernon avenues. a girl on Cook Street. Angulo Louis, a boy. Escalante Rand, a girl. Manuel, a girl. Raymond, Avondale, two boys. and Tl or, Ch pier, a girl.
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