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Newspaper
Phoenix Gazette
Location
Phoenix, Arizona, United States of America
Date
Mar 31, 1951
Page
16
Concrete skeleton for the sixth and top floor was poured this week on Phoenix's largest downtown project, the $1,000,000 Young Men's Christian Association Building on First Avenue north of Van Buren Street. Completion set for early fall. Gazette Staff Photo
nationwide television boom fades to low rumble. Phoenix follows with Regulation W cash down payments and 15 month balances. Manufacturers plan price cuts and promotions to restart demand as local distributors note copper and manganese plant news, urban expansion, and Phoenix rising as a major market.
SAN DIEGO Calif March 31 An INS report says Richard K Akutagawa 20 of Salt Lake City survived the Guardian anti submarine plane crash that killed Ensign John R Berkey 20 of Coronado California and James Hal Smith of Denver. The survivor, injured with head and arm wounds and shock, was returned by a destroyer after wreckage was found on San Clemente Island about 60 miles off San Diego.
Delta Electric Company founder Walter B. Stephenson of Marion Indiana declares voters will resist pressure tactics and socialism. He notes polls showed anti labor pressure in the Taft election and that the national mood may influence President Trumans stance on labor relations. Stephenson discusses Delta s wartime conversion and diverse holdings and his hobbies and residence in Phoenix.
DETROIT March 31 UP Production cutbacks and layoffs begin Monday in the auto industry due to government steel and material restrictions. GM, Hudson, and Studebaker face immediate effects with 3,500 Hudson workers and 4,000 Studebaker layoffs, while GM plants in Kansas City, South Gate, and Baltimore plan cuts. Ford reports production rate reductions, Chrysler no widespread layoffs, and a wildcat strike idles 9,000 Dodge workers.
Washington march 31 ap. The government set new controls via the National Production Authority. Duck production for defense orders is limited to 80 percent. New glass container designs are banned to save capacity for tin can demand. Molybdenum use in some stainless steels is reduced and the alloy eliminated from others.
The Perry-Brignall Construction Company of Phoenix will open Marlen Grove at 10th Street and Bethany Home Road with a model home open daily next week. Homes priced from 12 250 to 14 500 feature large citrus lots, enclosed patios, masonry walls, and reinforced masonry construction with mass insulation in the Valley.
New York reports a mixed bond market with medium priced rails and industrials edging higher while high grade corporates drift lower after a Fed move. Atlantic Refining 2s at 97 and Pacific Gas and Electric 3s at 99% mark declines, as higher yields attract riskier issues like American and Foreign Power 5s and New Jersey Railroads. Government loans quiet and foreign exchange moves modest.
The Senate Banking Committee warned that many WWII defense plants are unsuitable for modern weapon sizes and warned of new warfare impacts. It urged quick passage of a 1.5 billion defense housing bill to shelter workers, with portable options for temporary needs and permanent housing planned for workers and veterans.
Chicago March 31 AP Wheat futures rose after a 4 cent mid March parity gain and corn oats and soybeans firmed. May prices for wheat corn oats soybeans and lard moved on parity shifts with notes on weather in the southwestern wheat belt Santa Fe forecasted winter wheat losses and an April 10 government forecast due.
Cotton futures opened higher with a firm trend in New York. May reached 45.39 bid while July posted 45.04 05 and October 40.74 as commissions houses bought from July forward. Mid morning levels held steady to 55 cents higher than the prior close with ongoing weekend cover noted.
A contract will be signed next October or November for the erection of the first units of a new educational plant at Central and Missouri avenues if plans of the First Methodist Church official board are approved. Construction first phase aims for September 1952 with sanctuary completed by fall 1953. The church bought the site months ago and has finished a fund drive. negotiations are underway to sell the present church on Second Avenue and Monroe Street.
Chico Carrasquel of the Chicago White Sox earned 250 for standout play in a 3-1 exhibition win over the St Louis Browns. He led with two singles, had four assists and tied for most total bases with Al Zarilla, who added a double and 50 dollars from rancher Herbert L. Kokernot for honors.
Alarm Firm Operating General Alarm Company of Arizona has begun full operation with offices in the Arizona Title Building. President S. E. Thomson says the service warns against burglary or fire and can fit civil defense needs. It runs 24 hours daily, links with police and fire departments, and uses its own leased wires from the telephone company. The company can run on two reserve power sources and, in an emergency, on its own power for four months. Services include burglar alarms for banks, automatic fire detection, supervisory services for night watchmen, smoke detectors, and control of heaters and cooling units. Other officers are R. L. Wilson as vice president and George A. Hillier as secretary and treasurer, with Lester Soule as chief engineer.
The Defense Ministry announced on March 31 that Mexico can provide 2 million men to defend the Western Hemisphere against foreign aggression. The statement frames a substantial mobilization capability and signals regional security commitments.
In New York on March 31 a thin market opened with higher prices and small gains around 50 cents a share while some losses matched the advance. Investors paused after overnight orders, awaiting inflation and rearmament developments, as buyers favored a cautious approach. Names advancing included Kennecott Copper, International Nickel, American Cyanamid, Air Reduction, Westinghouse Electric, International Paper, U S Steel, Chrysler, and Goodrich.
The Sidney Hillman scholarships and awards totaling 39500 were announced by the Congress of Industrial Organizations Amalgamated Clothing Workers of America. The University of Chicago received 5000 for study of textbooks to root out prejudice and discrimination. The Southern Regional Council of Atlanta got 2500 for race relations and social justice, with 5000 allotted for the Sidney Hillman lecture series to be announced later.
Kansas City and Chicago market notes show cattle values mostly higher for steers and cows, with hogs uneven and lighter weights down. Spring lambs gain, wooled slaughter lambs steady to higher, and feeders strong, while price ranges vary by weight and class across regions and week comparisons.
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