Newspaper Page Text
PAGE TEN
Smaller Business Volume In '53;
Strong Compel ion Is Indicated
(Continued from page one)
factured goods promises to be adequate during 1953. Even
the so-called invisible inventories in the hands of consumers
are high as a result of heavy buying since the outbreak of
the Korean ■ War. I anticipate few shortages next year.
20. Do not forget that there is always a big IF in the
supply situation with regard to farm products. Severe
drought could cause havoc. One is already long overdue.
Scan closely weather reports from the nations “bread
basket.”
21. The demand for goods will be stronger in the first
half of the year than it will be during the last half. Dis-
posable income will hold close to
current high levels during the
first half of 1953.
22. Total pay rolls will hold
well, with prospects favoring a
slight drop during the late
months of 1953.
23. Farm gross income will
strengthen along seasonal lines
during the first four or five
months of 1953. If we then avoid
ANNUAL
POLLED HEREFORD
Show and Sale
JANUARY 12. 1953
— Show 9:30 A.M. —
— SALE 1:00 P. M. —
ATLANTA. GEORGIA
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TOP QUALITY FROM TOP
HERDS OF GEORGIA
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For Catalog Write:
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drought. I look for a lower farm
income during the second half
of the year.
24. The trend of wholesale
commodity prices will remain in
a basic long-term downswing.
Look for temporary price re
coveries in many groups during
the early part of 1953, but do not
let them fool you.
25. Unless more international
troubles or drought strike hard,
living costs should average some
lower in 1953 than in 1952. Here
again, the tapering-off will occur
late, not early in the year.
RETAIL TRADE
26. Over-all trade in 1953 will
be close to 1952 levels as far as
physical volume is concerned,
with a moderate decline in dol
lar totals. The most attractive
merchandising investments will
be: (1) Supermarket groceries;
(2) Variety chains; (3) Mail or
der stores; and (4) Department
stores, excepting a few in the
largest and most congested cities.
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27. Demand for capital goods
will hold strong during most of
1953. A definite slowing, how
ever. will take plaea at some
time. 1953 sales of consumer du
rables should about equal 1952’s
total sales, which were restricted
by the steel strike.
28. Movement of soft goods
during 1953 should be about the
same as during 1952. Some
freshening of demand in the
early months may be offset later
by a renewed lull.
REAL ESTATE
29. Barring World War 111.
rent controls will be a thing of
the past in most areas by the
end of 1953.
30. Home building will be less
in 1953. Prices may weaken
during the latter part of the
year. Building costs should edge
lower. Only small new houses
will be in demand.
31. In my opinion, the eost of
mortgage money will tend some
what higher during 1953.
32. Construction of municipal
and public works should rise
moderately in 1953 as compared
with 1952. This may be stepped
up sharply late in the year if
business falters. There may be
a surplus of tax free bonds.
33. A moderate slide-off in the
sale of commercial farm prop
erties can be expected. No bad
break, however, seems likely in
1953. Fear of World War 111,
moreover, should help farm
prices. ,
34. Population trend is away
from the big cities. Fear of pos
sible bombing and automobile
overcrowding will continue as a
drag on city realty values. Con
tinued migration from the urban
centers will help suburban prop
erties.
35. For those who plan buy
ing new homes in 1953, I strong
ly urge the purchase of acreage
in suitable suburban areas. Sure
ly, the H - Bomb experiment
should quicken the trend to
ward subsistance farms.
36. As public housing pro
grams are far behind schedule,
the new Congress will not pro
mote such in 1953 unless the
need for pump-priming becomes
much greater.
TAX EASING WILL BE
SLIGHT
37. Tax relief will come most
ly from expiration of present
laws rather than from a new en
lightened tax program. Barring
further international problems,
the present corporate excess
profits tax will be permitted to
expire at the end of June, 1953.
38. If the need for new taxes
continues high, after expiration
of the excess-profits tax. the new
Congress may consider additional
excise or manufacturers' sales
taxes. They may also serve to
discourage' consumer spending,
if the war danger becomes acute.
39. State and local taxes may
be increased moderately here
and there during the year 1953.
However. I do not look for total
advances in such to be so great
in 1953 as they were in 1952.
40. There will be no increase
in capital-gains taxes during
1953; but read paragraph .46 be
low. Income taxes may be re
duced.
FOREIGN TRADE OUTLOOK
41. Exports will fall again in
1953. The drop in imports will
be much less than in exports.
The New Administration will be
urged to promote foreign trade
instead of foreign aid. Only by
buying our neighbors' goods can
we get them off the relief rolls.
To save ourselves, I predict, we
will buy more abroad, although
this will be hard on some United
States manufacturers.
42. I look for no change in the
official United States buying
price for gold. We won't “monk
ey with" the mint price of gold
until the nation gels really “hard
up”
CONCLUSION: PROFITS
PROSPECTS, STOCKS AND
BONDS
43. For the year as a whole I
look for business profits to be
slightly lower than in ISHW.
Earnings will be better during
the early months, with a declme
occurring later Im theyear. Prof
it margins will be ent by stiffer
competition from both domestic
and foreign sources.
44. Recently upped wages,
plus some additional 1953 boosts,
will also put heavier cost pres
sure on profits.
45. Some companies that have
been hard hit by ex cess-profits
THE COVINGTON NEWS
THE
CHATTER
Local... County ... State
By THE OFFICE BOY
(Continued from page 1)
do something for them, when
they really need it. . . each of
us know the needy in our com
munity. .. IF we are not too
busy thinking of "me ‘n mine"
.. .we could seek out one person
each week, if not each day, to
help. ..try the weekly plan
first. . . the lonely older people,
and shut-ins who do not need
your help, do appreciate your
visits and just knowing you
CARR. . . and God s care each
day for us, is a constant remind
er of what he expects of us.
Join hands with me in this
resolution... we won’t tell any
body. .. anything except the
Heavenly Father. .. on our knees
we will ask Him to Guide us
each day through the 365 days
of the year to someone who
needs us... maybe they need a
little money.. . maybe they need
a “pull” a ‘•boost” to get start
ed. . . maybe they need a kindly
word and the assurance that
Christ does love them and will
help them. . . Sav Brother, we
know that Christ... lets make
this the biggest year we have
ever known in sharing the
Christ we know with others...
taking our neighbor and their
children to Sunday School BE
CAUSE... “they should go”. .. no
"because we need them.” Then
they will know they need the
church.
Three hundred and sixty-five
good deeds in a whole year just
means ONE good deed each day!
My plans run away with me...
why couldn’t we keep a little
black book and jot down the
deed, however small, each day
...and double it by doing one
in the morning and one in the
afternoon. .. see how they grow!
Willing to try?
Then I know my wish for you,
and you and you, will come
true... you WILL have the hap
taxes may show improved earn
ings when the excess-profits tax
expires June 30.
46. There will be a cushion un
der falling profits provided by
the current very high tax rates.
If profits slide. Uncle Sam will
share the heavier loss. This very
fact, however, will make it dif
ficult for Congress to reduce the
rate of taxation.
47. Stocks are high historical
ly. We are approaching the end
of a long period of prosperity,
much of which is based upon
artifical measures. Therefore,
sometime during 1953 I fore
cast lower stock prices than exist
today.
48. Yet. do not forget that the
stock market was at about the
same price point when President
Hoover won by a landslide in
1928. With business prospects
good for early 1953, confidence
might again cause a temporary
boom. If an “Eisenhower bull
market” develops, I strongly
urge readers to take profits and
build up reserves. Within 12
months after Hoover entered the
White House the Industrial
Averages fell 100 points.
49. New Administration will
not favor “soft money” policy.
Therefore, some further rise in
interest rates seems probable.
For this reason, I favor high
grade, short-term bonds, rather
than long-term.
50. Finally: Wise investors are
taking no action unless prepared
to follow a carefully planned Mid
supervised investment program.
The keystone of this program
will, in 1953 as in 195®, prove to
be a policy of diversification and
selectivity, Among those groups
which offer safetv and good yield
are certain fire insurance stocks,
bank stocks, variety chain store
stocks, food processing com
panies, and telephone companies.
EVEN THESE MAY FAIL US
UNI,ESS OUR NATION HAS A
REAL SPIRITUAL AWAKEN-!
ING. THIS MUST INCLUDE
ROTH YOU AND ME.
Legion Post
Reports On
Annual Fair
The annual Newton County
Fair, sponsored by Newton
County Post No. 32 of the Ameri
can Legion, brought in over
$8,900 this past October, but,
after necessary expenses were
paid, the Legion Post was left
less than $2,000 to finance its
activities during the year.
In a statement issued this week
piest New Year you have ever
had, for the greatest blessings
come to YOU when you have
made somebody else happy,
warm, comfortable, less weary
... Here we go. little book in our
secret pocket! It’s a game each
of us can play alone.,. in sec
ret, as He would have us... but
what fun it will he! We’re off!
Happy New Year, one and all!
I don’t even mind doing the...
“SWEEPIN’ UP”
P. S. News has just come to
me of the fire at the Wright
home... and the death of two
roomers... Never has such a
tragedy come to our little city!
We pray the Heavenly Father
will be nearer each one, bring
ing that peace and perfect under
standing only He can bring at
such a time!
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(Largest Coverage ASy Weekly hi The State! ^uraelay, January J, j
Girl Reserves Held
Party For Christmas
PORTERDALE — Twenty
three girls of the Maud King
Girl Reserves Group No 2 at
tended a party December 15.
Each girl received a Christ
। mas letter with money in it. Mrs.
।
by Legion officials, income of
$8,995.02 was shown, taken in as
follows: Fair catalog advertising,
$1,242: concessions on midway,
$2,410.37; gate receipts, $5,167.65,
and commerical space in exhibit
building, $175.
Expenses totaling $3,881.13 were
listed as follows: labor, $653.46;
advertising, $900.77; supplies,
$284.61; awards, $1,575.50, sales
tax, $144.53, and lights and
water, $322.26.
In addition, another $3,480 was
paid on the annual notes and
interest on the exhibit buildings,
leaving a net profit of $1,633.89.
At a recent meeting the Legion
Post voted to spend the balance in
carrying on four Legion projects
in the county community service,
Americanism, rehabilitation, and
child welfare.
Concluding the report, a spokes
man for the Legion said: “We of
the American Legion wish to
take this opportunity to thank
each one who helped make the
fair a success. It is sincerely ap
preciated by members of the
Legion and we will continue , to
strive to put forth our best ef
forts in obtaining a week of
wholesome entertainment for the
citizens of Newton County.”
Ellington read a story about
Christ, the first Christmas. As
she read, she would explain what
she was reading.
We turned our program over to
Sandra Seabolt, program chair
man for Monday. We sang “Away
in a Manger” and Sandra read a
Christmas verse.
Everyone had brought a Christ
mas gift, so we had a tree and
gave out the presents.
Miss Maud King sent refresh
ments for our party.
BARBARA MARTIN
Coal chemicals, which once
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during the process of making
coke, are now produced com
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