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Newspaper
Preston Citizen
Location
Preston, Idaho, United States of America
Date
Jul 12, 1951
Page
4
A factual report on American department stores in the first quarter shows dollar sales up 6 percent from the previous year while net operating profit declines due to higher expenses including payrolls. Inflation affects all retailing, squeezing margins and prompting tougher price competition and consumer price consciousness.
The St. Louis Star-Times has ceased operation with assets sold to the Post-Dispatch. Rising labor and materials costs, including a 100 percent surge in newsprint over 20 years, pressured many papers and may force more closures unless policy and prices adjust.
A four day private airliner junket for the Foley party at Sun Valley, using a Coast Guard C-54 and six crew, cost taxpayers thousands in fuel and wages. Critics say budget waste conflicts with calls for economy and potential tax hikes to cover the excess.
Rail executives warn that despite heavy investments averaging over 600 million yearly since 1921 and over a billion after World War II, costs outpace revenues. They urge parity in subsidies, noting trucks avoid highway costs and urging all carriers to cover their own expenses.
Idaho editor questions a federal official's call for citizens to curb nonessential spending while accompanying Foley to Sun Valley. The column notes Foley urged defense spending cuts and Welch Burress critiques the behavior and messages conveyed during the appearance at the Idaho Bankers Association event.
An editor argues railroads lag other U S industry in expansion while cutting service and raising prices. He notes rail labor costs rose postwar, but railroads cut costs through efficiency. From 1941 to 1949 operating expense savings exceeded $900 million yearly, altering traffic handling with greater efficiency.
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