anaheim-gazette 1952-12-24

U. S. Business Record Shaky Start in 1952 Finally Is Wiped Out By A. L. BROPHY (Associated Press Business Editor) Business was worried when 1952 got under way. It was happy when the year ended. It has some doubts about 1953. Despite a general slowing up in the first six months of the year, the economy ended 1952 with the post-war boom going full blast. The total product of the world's greatest economy established a new high. Income was up from its historic high levels of last year. Unemployment was down. From coast to coast during the early months of the year, business leaders were concerned, but optimistic that the full year would see a pick-up. They were certainly right. As the year went into its first few months, retail sales fell over most of the nation from the 1951 scare-buying level. Many prices were reduced. Some manufacturing was cut back. Salesmen really got out and sold, which was quite a change from the order-taking of post-war years. But at mid-year, the tide turned. Business got better all along the line and the boom rolled on to the end of the year in the usual pattern of tidal wave records that have marked the post-war years. A steel strike, an abortive coal strike, Korean peace rumors, hardly rippled the rush of the economy. The election of Dwight D. Eisenhower as president was hailed by business generally as meaning a better climate for industry. The stock market went up. Some said it was an Eisenhower market. There was no question but that business and industry regarded those occurring in November 1948, and in August 1949. He emphasizes, however, that a "pessimistic view of the future is not warranted." He said management should prepare itself for increased competition and the internal organizational changes needed to meet this condition. Murray Shields, vice president and economist of the Bank of the Manhattan Company, New York, said while prospects are good for the next few months, "we dare not rule out of all consideration the possibility of a depression severe enough to justify careful planning and programming." He said he based that conclusion on "intense inflation, rapidly rising debt, maladjustment here and abroad, and other unsettling factors." However, Roger L. Putnam, government economic stabilizer during the last year, asserted "it's hard for me to see a recession within the next year and a half." There is no economic reason for a recession," he said. There could be a psychological reason: if businessmen keep talking about a slump, they could scare themselves into one." He said his government advisers concurred in this appraisal. Factors supporting this view Guns Pour from Plants Along with Automobiles By DAVID J. WILKE (Associated Press Automotive Editor) DETROIT — The nation's automobile industry demonstrated in 1952 that it can carry on a "guns and butter" program—produce adequately for both war and peace. Tanks, airplanes, aircraft engines, cannon, shell cases, military trucks and other defense weapons have been rolling out of auto company plants along with a nearly normal volume of civilian cars and trucks. Output High Authoritative estimates put the auto industry's civilian output this year at 4,350,000 cars and 1,150,000 trucks. The volume of military output is not disclosed but it runs in several billion dollars in larger-Lincoln quality car field. Lower Prices Near the year-end several new models were introduced with moderately lower price tags. Whether the lower prices would hold through the new model season and, perhaps further reductions be made, industry heads indicated, would depend upon the output and sales volume that Farm Picture By OVID A. MARTIN WASHINGTON—American agriculture turned in its biggest production job in 1952. The combined output of food and fiber crops and livestock products was the largest in history. It topped the previous year's production by three percent. Biggest gains were in meat animals and food grains. Reflecting a heavy consumer demand for more beef and favorable prices, farmers expanded cattle numbers to a record level. Those numbers now stand at more than 90 million head. This is an increase of more than 13 million head in four years. A further expansion in cattle is expected in 1953—a year that may see consumer supplies of meat become the largest in any peacetime year. Farmers harvested the second largest wheat crop and the second largest corn crop in history. These crops served to assure ample supplies and reserves for possible emergencies for at least another 15 months. Produced also were larger than average crops of oats, flax-seed, rice, hay, soybeans, tobacco, fruits and vegetables. BUT FARM returns did not match farm production. The agriculture department reported farmers received a total net income... monetary value. The important thing, however, is that the industry heads believe it has established that the huge automotive industry can produce adequately for peace and war at the same time. The tremendous production capacity that has been built up since World War II is demonstrated in the quick recovery the auto industry made after the steel strike of mid-1952. Although the strike halted production for several weeks the industry bounced back to almost fill is allowable output quota under the Controlled Materials Program. Preliminary figures of the Automobile Manufactures Association, subject to later revision, show that of the 5½ million cars and trucks rolling from the assembly lines $70,000 were shipped to foreign markets. They also show that the wholesale valuation of the 1952 industry output was approximately 9 billion dollars, or about 8 per cent below the 1951 total. The manufacturers association estimates total car and truck registrations at the year end at 53,363,000 and reports that highway users paid a total of five billion dollars in taxes during the year. The year brought many engineering advances, although nothing of a revolutionary nature. A steady increase in horsepower output, running in some instances above the 200 mark, was one development in the Cadillac-Chrysler could be counted on. The implication was that the industry must be permitted to build more cars in 1953 than it did this year if the price line is to be held or reduced. Top level administrative changes in Packard and General Motors were other major developments in 1952. James J. Nance, former head of Hotpoint, Inc., took over as president of Packard with the avowed purpose of regaining for the company some of the former prestige it held in the higher-priced car field. Charles E. Wilson gave up his post as president of General Motors, which paid him $626,300 in salary and bonuses last year, to become secretary of defense in the Eisenhower cabinet at $22,500. Births DOAN—Mr. and Mrs. Ronald, 1133 Williamson Way, Fullerton, Fullerton Cottage hospital, Dec. 19, a boy. HARRIS—Mr. and Mrs. Robert, 424 N. Wayne, Fullerton, Fullerton Cottage hospital, Dec. 19, a girl. KANNIANEN—Mr. and Mrs. Verne, 708½ N. Olive, Anaheim, Fullerton General hospital, Dec. 20, a boy. WEGNER—Mr. and Mrs. Roger, 11261 Garden Grove blvd., Garden Grove, Santa Ana Community hospital, Dec. 19, a girl. BARTGES—Mr. and Mrs. Rex, 10891 Chapman, Garden Grove, at Santa Ana Community hospital, Dec. 22, a boy. BOYER—Mr. and Mrs. Edwin H., 12572 Havenwood, Garden Grove, at St. Joseph hospital, Dec. 21, a girl. SMALLWOOD—Mr. and Mrs. Robert L., 7122 Arnold, Anaheim, at Fullerton Cottage hospital, Dec. 21, a girl. But FARM returns did not match farm production. The agriculture department reported farmers received a total net income—income left after paying production costs—of 14,200 million. This is about 15 per cent less than the record received in 1947, and virtually the same as the amount received in 1951. Farmers actually received about three per cent more dollars for their products in 1952 than in 1951. But their production costs were higher. Had farm prices kept pace with increases in prices farmers paid for production materials, their income would, of course, have topped 1951. Farm receipts from livestock products were down about three per cent as lower average prices more than offset a three per cent increase in volume. Returns from crops increased about 12 per cent, mostly because of a nine per cent increase in the volume of sales. This year's decline in livestock receipts was largely in meat animals, eggs and wool. Dairy receipts were up nearly five per cent, mainly because of higher average prices. Farm economists say farmers are not likely to receive more from marketings in 1953 than they received in 1952. The domestic demand for farm products will probably be well maintained during the coming year, but some reduction in demand for export seems likely. As a result, prices received by farmers in 1953 may average a little lower. THE LEVEL of economic well-being was not uniform for the various farming regions. Many producers in Eastern, Southeastern, South Central and Southwestern areas suffered heavy crop losses from a severe early sum- Records Are Broken Des DEC.11...113.4 Associated Press Average of 60 Stocks 1952 POLITICAL CONVENTIONS SUMMER RALLY FALL REACTION EISENHOWER ELECTED COAL STRIKE CANADIAN OILS BOOM STEEL & OIL STRIKES KOREAN PEACE RUMORS 7 JAN. 4 FEB. 3 MARCH. 7 APRIL 5 MAY 2 JUNE 7 JULY 4 AUG. 1 SEPT. 6 OCT. 3 NOV. 1 DEC. COST OF LIVING ESTIMATED JAN FEB MARCH APRIL MAY JUNE JULY AUG SEPT OCT SOURCE: BLS PRICE INDEX NOV DEC. EMPLOYMENT— 1952—total civilian employment index for industrial produc re. Business is inclined to including business taxes, depreciathe law of supply and de- AN guess either way on price. Business is inclined to the law of supply and devill keep prices stable. Government officials think a military crisis would send up if they are not further added. Extremendous capacity of an industry is seen by being able to produce goods to keep inflation 1953. Is the picture of the trecord the American rolled up this year. NATIONAL PRODUCT (total value of goods and services, including business taxes, depreciation charges and other business reserves) 1952—running at a rate of $344 billion compared with $329 billion in 1951, a previous high record. NATIONAL INCOME (total earnings of labor and capital from current production) 1952—running at a rate of $287 billion compared with $277 billion in 1951. PERSONAL INCOME Running at a rate of $266 billion, a new high, compared with $254 billion in 1951. EMPLOYMENT 1952—total civilian employment in November, the last available figure was 62,228,000, greater by 900,000 than the corresponding month in 1951. Unemployed remained under the level of a year ago, the Census Bureau reported. The proportion of all civilian workers who were unemployed was 2.2 per cent compared with 2.9 per cent in 1951. INDUSTRIAL PRODUCTION 1952—reached a new post-war high as the year neared its end. The Federal Reserve Board figures for October estimated the index for industrial production 227-i.e. 27 per cent above average of industrial products from 1935 to 1939, which is as the base of 100. The high point reached at the peak of War II production was 247, so ally adjusted in October and November of 1943. CORPORATE DIVIDENDS 1952—during the first months of the year, the Merce Department U.S. contracts paid out $6,286,000,000 dividends, an increase of three cent over the same months of year. FARM Picture: Production up; Prices Sag OVID A. MARTIN WINGTON—American agriturned in its biggest projob in 1952. Combined output of food or crops and livestock and products was the largest yay. It topped the previous production by three per biggest gains were in meat and food grains. Using a heavy consumer for more beef and favorices, farmers expanded numbers to a record level. Numbers now stand at more million head. This is an of more than 13 million years. Mer expansion in cattle is in 1953—a year that may mer supplies of meat be largest in any peacetime. Is harvested the second heat crop and the second crop in history. These were to assure ample sureserves for possible ties for at least another sides also were larger than crops of oats, flax-seed, soybeans, tobacco, fruits ables. WARM returns did not produce. The agridepartment reported farvived a total net income PRODUCTION — U.S. farm workers turned out record amounts of food and other products during 1952 but the prices the farmer got were down slightly. mer drought. Those losses were reflected in the production of cotton, livestock feed grains, hay and pastures. As a consequence, many farmers were forced to sell some of their livestock because of inadequate feed supplies. Others were enabled to keep stock through government help in obtaining feed supplies from more plentiful areas. The spectre of a severe drought in 1953 hung over many of the same areas adversely affected in 1952. Prospects were darkest in the winter wheat producing area of the southern wheat administration. organizations over government farm policies. The powerful American Farm Bureau Federation and National Grange waged a bitter battle against so-called "high" price support policies advocated by President Truman and Secretary of Agriculture Brannan. The Bureau and Grange argued that the administration's policies would soon put farmers under complete domination of bureaucratic agencies. This issue of conflict over farm price support levels will be passed on to the Eisenhower administration to settle Before 1955, this index for industrial production 227-i.e. 27 per cent above average of industrial products from 1935 to 1939, which is as the base of 100. The high point reached at the peak of War II production was 247, so ally adjusted in October and November of 1943. Consumers Major Uncertainty By S. NEW YORK (P)—The consumer—enters 1953 around a record high. It should stay high for most than last year. But stand ple covet many new gadget food, and pay more for tha And so, making both ends will be the same old problem you in the new year. The cost of some things-rent, and the rates, fares fees for services—doubtless continue their slow ascents some months at least. Prices Steadier The price of others—like and clothing and furniture more likely to hold fairly sti Chances of price relief lie lily in America's growing ability produce all she requires for fense and civilian needs. Even more, perhaps, will prices depend on such vag as good growing weather for as consumers balking at high prices, as an end being to the Korean war. Another chance of relief for consumer lies in the competence which is spreading through in tries and retail outlets. There heat crop and the second crop in history. These served to assure ample supplies for at least another year also were larger than crops of oats, flax-seed, soybeans, tobacco, fruits and tables. WARM returns did not matter in farm production. The agridepartment reported farther a total net income left after paying proposals—of 14,200 million. About 15 per cent less than the same as the amount in 1951. It is actually received about cent more dollars for products in 1952 than in their production costs. Had farm prices kept increases in prices farther for production maneur income would, of receipts from livestock were down about three us lower average prices offset a three per cent on volume. Returns from peased about 12 per cent, because of a nine per cent in the volume of sales. War's decline in livestock was largely in meat anilays and wool. Dairy require up nearly five per only because of higher prices. Economists say farmers likely to receive more setups in 1953 than they in 1952. The domestic for farm products will be well maintained during year, but some reademand for export only. As a result, prices by farmers in 1953 may little lower. LEVEL of economic wellness is not uniform for the farming regions. Many in Eastern, SoutheastCentral and Southwestsuffer heavy crop on a severe early sum- As a consequence, many farmers were forced to sell some of their livestock because of inadequate feed supplies. Others were enabled to keep stock through government help in obtaining feed supplies from more plentiful areas. The spectre of a severe drought in 1953 hung over many of the same areas adversely affected in 1952. Prospects were darkest in the winter wheat producing area of the southern great plains. Little hope was held for a bumper food grain crop in the new year. But ample reserves will prevent a shortage. A major development on the national farm front in 1952 was a congressional investigation of grain and other products stored under price support programs. In a number of cases, private storage concerns converted these commodities to their own use and were unable to make good to the government. Critics of the Truman administration blamed these losses—estimated all the way from about one million to 10 million dollars—on lax administration. Several storage concerns were prosecuted. The government tightened up its storage regulations in a move to prevent future losses. THIS YEAR brought few changes in farm legislation and in federal farm programs. The only measure of any importance passed by Congress was one extending high-level farm price supports for basic crops for another two-year period—that is, for the 1953 and 1954 crops. Under this measure, the govern­ment is required to support produc­rers prices of wheat, corn, cotton, tobacco, rice and peanuts at not less than 90 per cent of parity for the two years. This is the level at which these crops have been supported in recent years. Parity is a standard for measuring farm prices, declared by law to be equally fair to farmers and those who buy their products. Meanwhile, the year saw a split widen between the Truman admin­istration and some farm or- Farm Bureau Federation and National Grange waged a bitter battle against so-called "high" price support policies advocated by President Truman and Secretary of Agriculture Brannan. The Bureau and Grange argued that the administration's policies would soon put farmers under complete domination of bureaucratic agencies. This issue of conflict over farm price support levels will be passed on to the Eisenhower administra­tion to settle. Before 1955, this administration must decide whether to continue the 90 per cent supports longer or fall back on a so-called "flexible" price support system endorsed by both major parties in 1948. Of major political importance was action of the Midwestern farm vote in returning to the Republican fold. LaHabran Makes Gift of Poems WHITTIER—A volume of Latin poems printed in Antwerp in 1572 by the famous early printer, Christopher Plantin, has been presented to the Whittier College Library by Mrs. V. F. Cornwell of La Habra in the name of the La Habra Heights Improvement Association, according to Dr. Benjamin G. Whitten, college librarian. One of the few existing copies of the "Humanae Salutis Monumentum" by Benedict Arias Montanus, the book belonged to Mrs. Cornwell's father, an English antique dealer. Most of the existing volumes from the Plantin Press are now owned by the Dutch government and are in a special Antwerp museum, the Plantin Moretus. The author, Montanus, is best known for his edition of the "Biblia Polygliota," an early multa-lingual Bible which was also printed by Plantin. The 380-year-old book of religious poems based on Biblical stories is in good condition for its age, according to Dr. Whitten. Chances of price relief lie likely in America's growing ability produce all she requires for fense and civilian needs. Even more perhaps, will prices depend on such weather as good growing weather for it as consumers balking at high prices, as an end being to the Korean war. Another chance of relief for consumer lies in the competition which is spreading through in tries and retail outlets. There probably be more bargains found next year. Manufacturers will be hunting customers with actively. And merchants will wooing shoppers. FOOD should be plentiful given a weather break. Even retail prices will be held stably by: 1. The growing demand for increasing population; 2. Gov­ mental parity price supports; 3. Slowing rising costs of distri­ction. MEAT prices will stay high retail—some think they may be a little there will be more on the market, but less pork. H prices have already fallen, rising processing costs will retail prices high, the meat int­ try explains. CLOTHING can be turned into in 1953 in any quantity the pearl will buy. Prices went through shakedown in 1952—and so did ventories. Business turned back in the fall and hopes are high good spring sales. Prices firmed year-end, but competition should prevent any big rise. SHOES also took a price turn in 1952. Orders came in again the summer and at year-end since manufacturers were talking prices. Merchants had ever, were arguing that the cu­mers wouldn't take it. With no cattle coming to market in Iberia hides should be plentiful, so prices may stay about where they are. FURNITURE and CARPET m ers had a rough time the first 1952 but look forward to much better days in the new year, wi prices around present levels t little higher. NEW HOMES will continue rise, but probably in slightly Despite Handicaps Stocks Often Stumble But Prices Go on Up NEW YORK. — The stock market in one impressive sweep after another this year pushed up into the highest price levels in more than 22 years. Stumbling blocks were thrown into the path of the market repeatedly, and the market stumbled, too, but each time it recovered and made further progress. The market rests firmly on two things—earnings and dividends. Predictions were that earnings and dividends this year would equal or top the totals of last year. And the stock market easily topped last year. As measured by the Associated Press average of 60 stocks, the market closed 1951 at $98.50. Within a few weeks it topped the old 1951 high, and it swept forward past $112.00 late in the year. Not since June of 1930 has the average been so high. It has considerable distance to go, however, before it gets to the giddy heights of 1929 when the Associated Press average hit its all-time high of $157.70 on Sept. 3, 1929. The election of Eisenhower, of course, capped all other events in the life of the market. Market advanced virtually without interruption for four straight weeks, completely wiped out the losses of the fall reaction, and pushed to a new high for the year. In Wall Street there was talk of a renewal of confidence in the future of American business, and the market responded to that manner of thinking. The market bounced right back, however, from what later proved to be the low point of the year. A boom in Canadian oils and the development of the American Williston basin in North Dakota boosted the market along to another high for the year before the inevitable reaction cut it back in the midst of the three-way argument in the steel industry between labor, management and government. Everybody looked for the traditional summer rally, and it started well ahead of schedule early in May and continued strongly until the first part of August. At that time a reaction of greater than usual proportions ensued. Hindsight shows it was largely a technical affair. Nevertheless it caused plenty of worry in Wall Street among the bullish element for fear it would develop into a full fledged reversal of the bull market that has been underway strongly since 1949. Then came the election and the dramatic reversal of the market trend. All through the year, the brokerage fraternity worried about the volume of business which was so low that many firms faced rough going. Business amounted to about three quarters of 1951 and less than two thirds of 1950. The New York Stock Exchange under G. Keith Funston, president. Consumers Are Facing Major Uncertainties By SAM DAWSON NEW YORK (P)—That long-suffering American — the consumer—enters 1953 with his cost of living hovering around a record high. Jobs are plentiful and employment would stay high for months. Many paychecks will be fatter in last year. But standards of living are higher, too. Peo-covet many new gadgets. They want better grades of food, and pay more for them. They travel more. And so, making both ends meet is the same old problem for the new year. The cost of some things—like food, clothing and furniture—are likely to hold fairly steady. Increances of price relief lie large. America's growing ability to produce all she requires for defense and civilian needs. Even more, perhaps, will lower prices of others—like food, clothing and furniture—are likely to hold fairly steady. Increases of price relief lie large. America's growing ability to produce all she requires for defense and civilian needs. Another chance of relief for the consumer lies in the competition which is spreading through industry and retail outlets. There will be for industrial production at 27 per cent above the average of industrial production in 1935 to 1939, which is taken the base of 100. The highest it reached at the peak of World War II production was 247, seasonally adjusted in October and November of 1943. The election of Eisenhower, of course, capped all other events in the life of the market. Market advanced virtually without interruption for four straight weeks, completely wiped out the losses of the fall reaction, and pushed to a new high for the year. In Wall Street there was talk of a renewal of confidence in the Future of American business, and the market responded to that manner of thinking. During the year the market tripped over the steel and coal strikes, went through phases of reaction after sustained advances, shiled away at Korean peace rumors, dipped when the government cut back war orders, and groaned under government controls. A look at the chart showing the course of the market discloses an orthodox movement. The traditional 1951-52 year end rally carried well into January before a reaction started about the time the government uncovered its plans for heavy spending and er volume. Many cities now report the housing shortage is over. In the booming defense plant areas, however, the carpenters will be busy. Forecasts are for a million new homes in the coming year. Building materials will be plentiful—except for a few scarce metal products—and building costs should hold fairly steady. RENTS, especially for newer buildings, will continue to rise in growing communities. Many cities, however, are showing vacancy signs in windows, and rents are steady. BUILDING of schools, commercial centers in the suburbs, public structures, roads and bridges will tend to take up the slack for construction workers as the housing boom fades. Plant expansion by industry will continue well into the new year. AUTOMOBILES will roll off Then came the election and the dramatic reversal of the market trend. All through the year, the brokerage fraternity worried about the volume of business which was so low that many firms faced rough going. Business amounted to about three quarters of 1951 and less than two thirds of 1956. The New York Stock Exchange under G. Keith Funston, president, was the center of endless arguments over whether to lengthen the trading week in order to get more business and cut down overhead. It was the younger New York curb exchange under its president, Edward T. McCormick, that took the decisive step. On June 2 the curb started trading five and a half hours daily Monday though Friday instead of five hours daily and two hours on Saturday. It was not until October that the stock exchange followed the lead. McCormick's curb exchange hustled for business in this country and Canada and Japan. Members cheered when curb volume on April 3, in the midst of the Canadian oil boom, was greater than that of the big board for the first time in around six and a half years. Curb members, looking to a bigger future, voted to abandon their history incrusted name and become the American stock exchange in the new year. The New York stock exchange, with a thoroughness never before matched sought to improve its role as the nation's market place for securities. With the Brookings institution, the stock exchange surveyed the nation's stockholders in the first such compromise move. They found only 6,490,000 stockholders, indicating a huge untapped market for the sale of securities. To reach the vast untutored public, the stock exchange made a movie cartoon called What Makes Us Tick. It told audiences running into the millions the unwarnished story of how to buy and sell securities—and why. Stock exchange officials took the lead in a drive against the present high margin requirements—calling for a down payment of 75 per cent on stocks—and sought to mitigate the effects of the capital gains tax—taking 26 per cent of stock market gains. BEAT prices will stay high at some think they may rise. There will be more beef the market, but less pork. Farmers have already fallen, but processing costs will keep prices high, the meat industry explains. NOTHING can be turned out in any quantity the public buy. Prices went through a down in 1952—and so did inries. Business turned better the fall and hopes are high for spring sales. Prices firmed at end, but competition should not any big rise. DES also took a price tumble in 1952. Orders came in again in summer and at year-end some facturers were talking of big prices. Merchants, how-were arguing that the custom wouldn't take it. With more coming to market in 1953, should be plentiful, so shoes may stay about where they URNITURE and CARPET made a rough time the first half but look forward to much days in the new year, with around present levels to a higher. NEW HOMES will continue to out probably in slightly low- BUILDING of schools, commercial centers in the suburbs, public structures, roads and bridges will tend to take up the slack for construction workers as the housing boom fades. Plant expansion by industry will continue well into the new year. AUTOMOBILES will roll off production lines in greater volume in 1953, with prices held down by growing competition. If you have money to spend, there'll be more "added equipment" you can buy than ever before. Material controls should end early in the year. TIRE sales are expected to rise in the new year as drivers replace the ones they bought in fright when the Korean war started. Rubber prices tumbled in 1952, and there is no shortage or price pressure in sight to plague either the industry or the car owner. GASOLINE will be plentiful, with the octane rating higher. The oil industry has more than ample capacity now to produce. This competition will offset the price pressure of the rise in production and distribution costs. FUEL will be plentiful, but rising production costs will tend to raise prices in coal, natural gas and fuel oil. Competition between them will grow, tending to give a break to the home owner or factory operator. ELECTRIC power facilities continue to expand, but the steel strike set some programs back, and demand for power could grow as fast or faster than electric facilities in most of the booming defense areas. The Pacific northwest may have trouble, especially if drought cuts the water supply. TAXES—The bug in many a family budget—will probably stay high, alas, for individuals. A federal budget policy will shape in the spring of 1953, as the president and the congress work out what to do about the expected treasury deficit. The citizen will just have to wait and see what the President proposes and how the Congress disposes. Spending cuts would have to be deep indeed to balance the budget and cut your tax bill in 1953. The average citizen will also be in the middle economically in a number of other things he can't forsee: what the Kremlin will do; what will happen in the world's many trouble spots; how the new Congress will get along with the new President; how management and labor will get along and whether strikes will upset the applecart. CHP Predicts 10 Motorists to Die on Christmas The California Highway Patrol predicted today that at least 10 persons would die in traffic accidents throughout the state from 6 p.m. Christmas Eve to midnight Christmas night. Another 300 victims of holiday traffic in California would see the day after Christmas dawn from a hospital bed, officials said. Last year eight persons were killed and 231 were injured in that same 30-hour period in rural accidents alone. Capt. H. W. Null, commanding the Orange county squad of the patrol, said he would have every available officer on duty in an effort to hold down deaths in this area. He said Christmas traffic in Orange county last year killed 2 and injured 10. "Christmas is traditionally a time of year when we have warm, friendly feelings toward our fellowmen," Capt. Null reminded motorists, and added: have to be deep indeed to balance the budget and cut your tax bill in 1953. The average citizen will also be in the middle economically in a number of other things he can't forsee: what the Kremlin will do; what will happen in the world's many trouble spots; how the new Congress will get along with the new President; how management and labor will get along and whether strikes will upset the applecart.