PAGE SEVEN
Wanted! Men And
Babson's Authentic Statement
jmor* Socialistic experiment* and the
i reel inflationary period.
In the
i meantime, we will have slowly
creeping inflation until 1948; but
nothing radical. After Roosev*lt is
re-elected with a Vice President sat
isfactory to him, I should not be
surprised to see him resign to ac
cept the head of the new World Or
i ganization whatever this may be.
This could take place as soon a* Japan
is whipped,—possibly 1945.
Inc.
To make this
i ng test. If you ar* • temporarily deaf- I
(Continued from Page One)
*>-------------------- .------------------------------
ened, bothered b' ’i-ÄTorÄ' IndiMtrie* Differ
.
ibe elected in November a big bull
9&S
head noise* due to hardened or coagu
Expansion of airplane factories has
tJ«veloP-
lated wax (cerumon), try the Ourine
*
Home Method test that so manyuS been practically completed. Automo- i What Stocks Te Bay
Some
industrial
groups
appear
has enabled them to hear well again tive industry during 1944 wil gradu- I
Can be used for 8-foot refrigeration in the home
You must bear better after mating ally reconvert to normal. New car more attractive than others. Building
this simple test or you get your mone
'stocks
should
benefit
from
the
ex-
back at once. Ask about Ourine Ear stockpile low. Look for relief only ' pected boom after the war. Johns-
See
on trucks. The chemical industry
Drop* todav at Barrow Drag Co.
ha* enjoyed great expansion. This l Manville, Lone Star Cement and How Long W1U War II Last?
Insurance Specialist, F. R. Bull. *
may continue. Leaders in new drugs Eagle-Picher Lead hold prospect* for
Intelligent forecast* of 1944 busi
should prosper.
Heavy chemicals good postwar earnings and liberal di ness should be based upon some as
vidends.
Flexibility
of
merchandis
may not show any gain over 1943
sumption a* to the length of the war.
for price of the Cooler installed
.
A
volume. Building about the same ing companies makes their stocks fa If Germany is to crack within a short
level for total new building as in vorites. I have recommended Amer time, 1944 may be a very different
274
W.
Second
Phone 10CJ
1943. Relaxing restrictions on private ican Stores, McCrory Stores, Kroger, year than if Germany should hold out
#4.-. —
construction will come in near future. Jewel Tea, General Shoe, United. until after our Presidential Elections
Gains in 1944 will show in this cate Stores 6 per cent Preferred and Pre in Novemebr, 1944. Germany may
gory when compared with 1943. Am ferred “A.” The railroad and farm collapse early in the year, but con
optimistic on postwar home building. equipment groups ought to show bet- sider the following:—
The shoe and clothing industries ter-than-average progress. Favorites
(1) Churchill is ven», close to
are beset by price ceilings and in- include American Brake Shoe, Gen ( Roosevelt. He desperately wants him
creaaed costs. These will continue eral American Transportation, Bald re-elected. Knowing that only a con-
through 1944. Woolen industry will win and Harvester; although postwar ; tinuation of the European conflict
I remain very active. Rayon wijl con prospects convince me than selected , through October, 1944, will assure
tinue at capacity output. Cotton tex steel and iron issues hold appeaj. U. S. i ' this, he is not hurrying his Second
tile* will be fairly active — nearly Pipe Line & Foundry should bene- i : Front.
fit from building. Republic Steel $5
equal last year’s level. With Ger- | PM.
(2) As the Republicans have not
“A” offers liberal income. Na-
' many out, consumer demand for these
yet insisted upon "unconditional sur-
, goods should quickly replace war or l tional Seel and Allegheny-Ludlum are | render," the German and Japanese
der*. Dairy products will be scarce, sound issues. Electrical equipment people think their chances might be
, because of feed problem*. Slaughter should experience heavy postwar de , better with a Republican President,—
J houses should do a big volume. Cereal mand. General Electric is the out' ‘ which is a temptation for them to
i products will do well. Canned goods standing leader.
hold out.
i wiB feel effects of sharply higher Bonds, Interest Rates and
(3) Stalin is definitely waiting un
■ costs and lower output. Bituminous Preferred Stocks
til after November 6, 1944, before
The government forbids a corpora making certain decisions, and this
coal depends upon labor union policy,
but I expect output to be at least tion to manipulate the price of its will delay Germany's collapse.
ten per cent better in 1944 than in securities but the government is using ; (4) Although the Washington New
artificial means to force down in
1943.
Deal group might do nothing to pro-
I Air transport will gain in equip terest payments needed by widows, long the war merely to insure them-
ment and efficiency. Manpower .is orphan, and other, dependent up^n
far from solved. The trend of the savings or life insurance. This is yet they surely would not be adverse
industry is up for both air passengers unfair. Government Bonds dominate to others doing so.
i and freight. Railroads will continue the high-grade field. Corporates are | (5) Generally good war news
to suffer from equipment shortages. being called in increasing amount*. should feature 1944. The battlehard-
War peak of traffic is passed. Rail Institutional investors and trustees ened Russions should continue to
road need* are so acuta that higher have to bid very high on the few re drive the German hordes back. As i
i priorities for equipment will be maining corporates or buy Govern we enter 1944 the war ha* rounded
In view of the relatively
| forced. After the war, railroads will ments.
second base and is on the way home
greater
risk
in corporates,' I favor
have a terrible slump. With much
As, however, I stated in my 1942 and
less to haul, they will face, a* never confining high-grade bond purchase* 1943 Annual Forecasts, we should not
before, competition from coastwise to the E, F and G War Series, pro- expect an ending of the War until
ferably E’s. Otherwise, hold cash.
shipping, river transportation, new
gas, chemicals or bacteria bombs are
pipe lines, airplanes and trucks. East Municipal* are too high.
used.
I expect no near-term shift in in
ern roads will slump as soon as Ger
All of the above may be upset by
terest
rates.
They
may
remain
low
many collapses.
the death or serious illness of Roose
Electronics, and television should a* long as government financing must velt, Churchill, Stalin, Chiang or
■ boom. Heavy electrical equipment ■ be carried on in large volume, or as 1 perhaps even Hitler In 1944.
I orders may decline slightly in 1944. I long a* restrictions are placed upon '
I the expansion of business to meet civ- 1 Needed: Mar* Research
Kilowatt output may be ten per cent
And Religion
better in 1944 than in 1943. Lumber i Ilian demands and the money hoard
Businessmen ar* faced with three
continue*
to
grow.
When
the
read
volume will continue to be reduced. ’
vitally
important questions: (1) I* it
' Backlog of machine tool orders is de justment come* the investor should time now to give up seeking war
not
be
tied
up
in
long-term,
low-
clining sharply. Subcontracts may
Current yield* on contracts and prepare plant* for civ
. help.
Nonferou* metal* are held , 1 coupon bonds.
better-grade
issue*
have
been ilian goods output? (2) Should sub
down by «cute manpower shortage.
forced
down
too
low.
Investor*
look
contracting J j *. reduced by approxi
Paper and pulp will be affected by
mately 50 per cent so as to be ready
.the cut in newsprint.
Paperboard ing for liberal-income are, therefore, for civilian goods production? (3) I*
buying
cumulative
preferreds.
Such
1 output in 1944 should equal 1943.
all-out war production to utmost ca
■ Refinery petroleum output in 1944 issues are also in favor with in pacity the best course to pursue? My
vestors skeptical over the general
i will run ten per cent above 1943.
advice is: Continue to take all war ,
(Higher prices for crud^ probable. trend of common stocks; but the field subcontracting you can get provided
is
very
selective.
My
usual
advice
| All-time peaks in steel output sched
it will not tie your plant up beyond
CHURCH BELLS RINGING
uled for 1944. Shipbuilding may not is to buy only first mortgage bonds Election Day next year. Stop fur- j
show further gains, but launchings or else common stocks of companies ther expansion plan* .now. Work re
.. .CRISP CRUNCH OF
■ with no cumulative preferreds.
¡will.
search and postwar planning depart
Taxes
SNOW ... LEADEN SKIES
(Mtjaak for Labor
ments overtime. Give »orders now
There
may
be
a
small
increase
in
' Criix is whether sufficient skilled
EAGER FACES. IT’S
for reconversion equipment.
(
! antft unskilled worker* can be chan- 1944 taxes. This increase will hurt
Finally, 1944 will see a continuation
only
a
few
Industrie*
through
in
neled Into critical war industries. It
of the conflict between those two
is estimated that 2,000,000 worker* creased excise taxes. Income taxes,
inheritance taxes, gift taxes, and philosophical theories which are
i must be added to essential plants in
splitting civilization today. These may
the next few months. However, over probable corporation taxes will re be expressed by th* eternal question
main
about
where
they
are
or
low
2,000,000 men and women reach 18
...AND MAY NEW YEAR
of whether man (I) is a spiritual be
, every twelve month*. Therefore, the ered. Furthermore, 1944- may be the ing to be guided by the Ten Com
last
year
of
tax
misery.
Taxes
should
OF 1944 OPEN A CHAPTER
labor situation may begin to ease.
Investors mandments; or (2) is an evolutionary
There will be many disputes but most begin to decline in 1945.
OF HAPPINESS FOR YOU.
should
especially
keep
in
mind
that— animal permitted to follow the rules
upset* Will be of short duration and
whan
excess
profit
taxes
are
elimin
of the jungle even when possessing
small scope.
Labor leader* must
a college diploma and dressed in a
ated
—
many
corporation*
can
make
threaten strike* for publicity and to
tuxedo. If our first assumption, the
more
money
and
pay
dividend*
with
hold jobs. The cost-of-living situa- ,
one for which our churches stand, is
Imuch
smaller
gross
earning*.
tion will dictate the rise and fall of
adopted as a goal, the coming year
John C. Merchant, Mgr. strike*. If rolling back price* is' Postwar Jobs
can be the beginning of a glorious fu
Men and women who left jobs to
successful, pressure for higher wages
ture. If the second, which too many
enter
the
armed
forces
should
have
• will be considerably reduced. After
educators are teaching, is allowed to
Germany cracks, there will be no no trouble getting job* when they grow, then World War II may have
scarcity of labor. Labor's honeymoon return. Those who entered th* "arm
been in vain. In the end, spiritual
is approaching it* end. There will chair” force* at Washington or else forces must overcome the material
where may have real trouble with
be no railroad «trike in 1944.
forces or civilisation is sunk. The
getting postwar job*. Men who were
Steck Market
hope of a better postwar world lies
The 1944 long-term trend of stock unemployed when they entered the with greater research and more re
price* is definitely upward. A grow armed force* will, get postwar jobs ligion.
ing hoard of money seek* investment. based on their war record and be
Few new stock* are available. Pres havior. Character and habit* will be
Men
ent holders are less willing to let an important consideration.
stocks go, except at higher price*. and women who* left employers in
The ria* from May, 1942, to July, 1943, the lurch to get more money or
was a long unbroken advance. A thrill* max* be left “high and dry"
period of consolidation, such a* from when the war is over. There will not
July 14 to date, wa* in order. The be a good job for everyone after Ger
next few months may still be marked many cracks. In fact, there will begin
by irregularity. This should not dis to be unemployment, when Roumania,
turb real investors. Corporations are Bulgaria or Hungary give up, which I
adjusted to wartime operation*. Any expect fairly soon.
material change ui the wa* imyalw Pointes aasi inaiati
may create temporarily upsetting un
Unless Germany collapses before
certainties. On the bullish side the August, Roosevelt will be re-nomin
market strengthened in the face of ated and probably re-elected.
It
the largest War Bond Drive in our looks now as if Willkie would be
nominated if the Republican leaders
history.
Mast listed companies are stronger believe Roosevelt has the election in
than ever. Debt* have been reduced, the bag. This would be a good way
'cash reserve* increased. Companies of getting rid of Willkie forever. An
is hardly justi
1 doing well in war work may get new other possibility is that Willkie may
buildings and machinery for a song. accept second plape on the Democratic
J.War stock» have gradually given ticket.. The Republicans wUl put ft
6ed,.but. looking iato our crystal ball, wc see
ground in spite of record earnings their efforts upon Congress.
In
Detter days ahead. In the light of this fact we
and growth in net current assets. November, 1944, they should secure
Many peace stocks have forged ahead a good majority of the House and six
say Happy New Year with the old-time spirit.
In spite of declines in earnings and more Senators. When I look further
May the best of everything come your way
lower dividend payment*. It is pos ahead, 1948 seems now like a good
sible the “war babies" may become Republican year with Gov. Dewey
in 1944.
*
oversold and the peace stocks over the victor, in case Willkie is not
bought, but the total industrial aver already President. During the 1948-
ages will go higher sometime during 52
_ _____
_ the
________
term ____
will ____
come
next depres-
1944 than they are at present. In sion followed by a return of the Dem-
: case a Republican, President should ocrats in 1952. Then there will be
ELECTRIC REFRIGERATION
Brand New BofTte~Cu<jiers
r
0. H.'Garnier
y /
{o^ ^ërs'ët'¿ëëër,
Heiman’s Men’sStere
I
^Ijlnciue
COQUILLE LAUNDRY CO
*4