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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. KID, AiiliMnl Mwwf ar
(itiSMJT
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