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About The news-review. (Roseburg, Or.) 1948-1994 | View Entire Issue (Aug. 17, 1949)
"0 6 th Nwt-Ryiw, Rowburg, Of . wd Aug. i7, 1949 ; Forecasting By Economic Prophets I - f:Al nUiapuan In nma By PETER EDSON NEA Washington Cot respondent WASHINGTON. The crystal ball used by the business prophets today could not possibly be more clouded. You can hear or read any kind of economic forecast you want, from glow to gloom. This leaves the average Washington observer wondering If any of them know what they're talking about. Comparison of some of the recent utterances by people who should know with what experts In similar positions said during 1929 only confirms this hunch. President Truman In his recent t m ?tr Tf&Ti V:.: fwl ' (NK4 Tdrpkoit) VIOLENCE IN MUNICH !": esr burns after being set on tire by Jewish displaced persons wlio marched on the office of a Oerman newspaper In Munich vhlch bad printed an anti-Semitic letter. The swastika, symbol of the now defunct Nazi party, was painted on the hood of the police car by the rioters. Borne 1100 Jews and Oerman police took part In the riot, with five of the former and 30 of the Utter receiving Injuries. Labor Day Ball Fund To Outfit Polict Forct Police reserves, as well as the city police department, will bene fit from proceeds received from the annual policemen's ball, scheduled Sept. 5, Labor Day, re ported Police Chief Calvin Balnl. Funds will be used to outfit the reserve officers and to pur- 'chase needed equipment and uni forms for the regular officers. The dance will be held In the armory, starting at 8:30. Music will be furnished by Bruce Glllcy and his orchestra. Admission will be $1.00 per person. Western United States contains more than 66.000,000,000 feet of standing White Fir saw timber. economic report to Congress dealt with the unemployment situation as an acute problem in certain localities only. He said he was f;oing to try to do something about t In those areas. But compare this view with the ideas of President Herbert Hoover in 1929, to the ef fect that unemployment was a local problem. Bernard Baruch, returning from Europe, told ship news reporters, "I don't agree with those who say there will be a slump in this coun try." Commerce Secretary Charles Sawyer, returning from his sur vey of New England unemploy ment, said business would pick up in the months ahead "if people don't get scared." Famous Quotes Recalled Compare those statements with some famous quotes of 1929: "The worst effects of the crash upon unemployment will have passed In 60 days," said President H tributlng to what some Washing' ton observers find Is a significant Pr change in Dusiness sentiment dur ing the past two-to-four weeks, may be listed these developments: There will be no Increase in federal income taxes. Consumer expenditures have remained high despite a falling off In personal Income. Automo bile sales and production have been at record levels. The government will have to go on deficit spending, which Is Inflationary. This will be height ened by distribution of the vet erans' Insurance bonus of $2,500, 000,000 early in 1950. Wage increases in selected In dustries that have good profit re ports so far this year seem In evitable, which is likewise inflationary. Wallace Berry's Cash $750,000 LOS ANGELES. Aug. 16-UPI Three quarters of a million dol lars In cash was left in a safe deposit box by Wallace Beery, accounting of his $2,000,000 estate shows. Government bonds worth moe than $600,000 also were listed in the Inventory, ordered by Super ior court to determine inherit ance taxes. The actor, who died April 1? at the age of 64, left the bulk ot his estate to his adopted daugh ter. Carol Ann. 18, his brother. William, and his nephew, Noah Beery Jr. - Claims against the estate in clude those of his former wife, Mrs. Mary Areta Foyt, who seeks one half; and Gloria Schumm, film bit player, who contends flcery was the father of her 18-month-old son. She has asked for $104,135. Beery denied paternity j and specifically disinherited the Infant in his will. . VITAL STATISTICS ! Marriage Licenses McKISSENKLXLOS Bohblo Lee McKissen and Wilma Marie Kullos, both of Oakland. LEANORDSTIMKA Loyl Al vin Leanord and Enren Ruby Stimka, both of Oakland. of Request for Decree Separation GALLOWAY Mae Elizabeth vs. Walter A. Galloway. Married at Vancouver, Wash., April 7, 1937. Cruel and inhuman treat ment charged. Divorce Decrees Granted TURNIDGE Cecile from Del bert W. Turnidge. Louisiana's state flower is the magnolia. Some 50.000 Indians live New Mexico reservations. I Distributed In Roseburg By Bates Candy Co. loover in March, 1930. Unemploy ment as then 3,000,000. It rose i to 12,000,000. "I see nothing in the situation which warrants pessi-1 mlsm," said Secretary of the I Treasury Andrew Mellon on Jan. , m 1, 1930. . Wonderlngly, you read these I statements. Then you look at some 1 facts as gathered by principal I government statistical agencies: I Every government source tries I to minimize unemployment. Bureau of Census reprots mid July unemployment of over 4, 000.000 for the first time since the 1930-41 period. But the census sample survey Indicated employ ment at 59,720,000 the highest this year. Good though this may be, It apparently isn't good enough. Bureau of Labor statistics wholesale price index of all com modities has dropped 5 percent since Jan. 1. But the BLS consum ers price index the so-called cost of living figure is down only 3 per cent November. from the peak of last ror July it will nrob- ably be around 170 percent of the 1935-39 average. The fieure has oeen within 1 percent of this level tor tne past six months. People Increasing Debt Installment buying has risen to a national total of over $9,000,000.- 000 a new all time hieh. What this means is that people are going deeper into debt. Personal savings are still high, but largely confined to people In the middle and upper income brackets. In spite of notable exceptions like steel, total corporate Droflts mr me second quarter ot 1949 are expected to be lower than the first quarter annual rate of $28.000.. 000,000. The high was $36,000,000,- uuu in the third quarter of last year. These are some of the bearish factors. On the brighter side, con- Your valuables arc safe in a safe deposit box at the United States National Bank. Protect important papers . . . bonds . . . securities... jewclrj till your precious possessions from loss by fire or theft Peace of mind and privacy can be yours for little more than a penny a day. Rent a safe deposit box now . HAIOID I. ICHMIII NATHANIfl 0. JOHNSON, A.ilitont IVAN O. MCKINt, Aulitwtt Mmf 0. H. 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