anaheim-gazette 1959-01-22

BY RALPH BOBET 1959 Business We have now reviewed the general extent of the recovery to date and have briefly discussed some of the fundamental worries. On the basis of this it is possible to make actual forecasts for the coming year. Gross national product, which is the total monetary value of all goods and services produced in the nation and which currently is at a new high, will continue to advance. This is assured through a rise in government expenditures, not only federal but state and local as well, and by continuation of the recovery. The total should advance each quarter. Estimates for the last three months of the year range between $470 and $480 billion, as compared with about $450 billion at present. Industrial production which, according to the index of the Federal Reserve Board, was 141 in November (1947-49=100), will continue to increase and before long will be at a new high level. The recovery will be uneven, as it has up to this point, but durable manufacturers should show a good growth. This is important because this segment was hardest hit by the recession. Total personal income is now at an all-time high and will continue to rise throughout the year. A major factor will be the upward trend of wages. With such personal income, retail trade will show a seasonally adjusted rise month after month, and at the end of the year will be appreciably above 1958. Net farm income is officially estimated to be down. The upward again. The increase in kindle interest in, and fees for the first time. Private the 1958 figure of about 1 may even go higher if Com financing easier. Business inventories other words the liquidation been completed. Business investment in rise slightly in 1959. Act place in the fourth quarter until actual figures have be in other than manufacture of those three divisions is of past investments. Unemployment will decide it will be late in 1959 before Interest rates will not it will be a slight upward. The foreign situation w sume that there will not b policy will continue to be cations of Russia and China. exports, will be above 1958. Finally, business profit will not come close to prev material aid to government start can be made on reduce deficit. To summarize: 1959 will It will not be a boom year, parts of the economic sys aging rate. The year will unsolved, some of which m growth. This is important because this segment was hardest hit by the recession. Total personal income is now at an all-time high and will continue to rise throughout the year. A major factor will be the upward trend of wages. With such personal income, retail trade will show a seasonally adjusted rise month after month, and at the end of the year will be appreciably above 1958. Net farm income is officially estimated to be down. The reason is that we have come to the end of a farm cycle and although crops may be excellent, farm prices will be lower and the goods and services bought by farmers will cost a little more. The estimated drop in net farm income is between 5 and 10 per cent. Because of declining farm and food prices, the cost of living will remain relatively stable for the next few months, and the wholesale price index likewise will show little variation. Thereafter both indexes probably will start to creep STRENGTHEN AMERICA'S PEACE POW FOR DEFENSE IN THE SCHOOL IN THE LABORATORY IN THE FACTORY IN THE LABORATORY ON THE FARM You don't need anyone to tell you our country needs to strengthen its Peace Power. You're reminded of it every time you open your newspaper. And just looking at the children brings it home to you all the more. But maybe you think... "I'm just one person. How could I possibly strengthen the country?" You can help. And help yourself at the same time... by saving with U.S. Savings Bonds. You see, peace costs money. Monly for mahy different things: To help us through industrial and military make it lasting for the future, and education. And, most important, money saved by individuals. Bonds, as a direct investment in make you a partner in the job of America's Peace Power. Think it over. Are you buying a might? BUY U.S. SAVINGS BON The U.S. Government does not pay for this advertising. The Treasury Department for their patriotic donation. The Advertising Council and The increase will not be sharp, but it will release interest in, and fear of, inflation. The construction industry will rise above $50 billion the first time. Private housing starts will increase from 1958 figure of about 1,150,000 to around 1,175,000. They even go higher if Congress again takes action to make financing easier. Business inventories will rise moderately in 1959. In our words the liquidation, for all practical purposes, has completed. Business investment in plant and equipment also will slightly in 1959. Actually the turn may have taken in the fourth quarter of 1958. That cannot be known as actual figures have been collected. The increase will be other than manufacturing, mining, and railroads. None of these divisions is as yet fully utilizing the results from investments. Unemployment will decline gradually over the year, but will be late in 1959 before we again have full employment. Interest rates will not go down. If there is any change will be a slight upward trend. The foreign situation will remain tense. It is safe to assume that there will not be an all-out war, but our foreign policy will continue to be dominated by the wishes and accords of Russia and China. Foreign trade, both imports and exports, will be above 1958. Finally, business profits will continue to improve. They not come close to previous peaks, but growth will be of material aid to government revenues, with the result that a can be made on reducing the magnitude of the federal it. To summarize: 1959 will be materially better than 1958. It will not be a boom year, but recovery will continue in most of the economic system at a reasonable and encouraging rate. The year will end with many serious problems solved, some of which may be worse than they are today. California Spends More Than Income SACRAMENTO, Jan. 21 — The State of California spent $153.750,140 more than it took in during the first six months of the 1958-59 fiscal year. State Controller Alan Cranston reported today. Cranston said the General Fund income for that period totaled $505,932,573 — but expenditures amounted to $659,682,713. The fund had a cash-on-hand balance of $4,967,239 as of December 31, thanks to temporary loans of $50 million from the Architecture Revolving Fund and $20 million from the Investment Fund. Had it not been for these loans, the fund would have shown a December 31 deficit of $65,032,761. Cranston said. Only last week Governor Edmund G. Brown acted on Cranston's request in ordering new loans of $30 million to the General Fund — $10 million from the Architecture Revolving Fund and $20 million from the Investment Fund. Percentage-wise over the month period, the General Fund income dropped 0.28 per cent from the total for same period of the 1957-58 year, while expenditures increased 8.33 per cent of $50,726,184. Biggest dollar drops in revenue during the July-through-December period were $6,184,859 in retail sales tax and $3,266,084 in bank and corporation chase and income taxes. These two sources remained General Fund's greatest revenue getters; however. The sales has accounted for $302,063,574 the total income so far this year and the bank and corporations for $66,767,589. FOR A GAZETTE WANT. CALL ME 5-2206 We'll Challenge Anyone to offer you a better Cleaning THEN CE POWER SCHOOL FACTORY We'll Challenge Anyone to offer you a better CLEANING PROCESS than LUSTRE-SHEEN maintains the original beauty of WOOLENS SHEERS and FINE FABRICS during their entire service. The Genuine Petroleum Process that takes nothing out of Fabrics except the Soil. "Your Dry Cleaner is Your Clothing's Best Friend" "LEAVE IT TO RITZ" and be assured of SATISFACTION" PICK-UP RITZ CLEANERS DELIVERY — Anaheim's Exclusive Lustre-Sheen Plant — 207 E. CENTER — KE 5-8289 We also offer the only Pillow Renovating Service in Orange County — Renovating — Re-Tickling Visit your Chevrolet (J CHEVY'S OUT WITH AT A NEW LOW PRICE Here's the latest addition you'll find at your Chevrolet dealer's Open House January 22 through 24. It's a new 4-door sport sedan in the Bel Air series—and it sports a lower price tag than any other Chevy hardtop. Bring the family and look it over. And get the full story on all the other striking models now available. Remember, production is rolling and you can count on prompt delivery. Just wait till you for you—a glib sleek-lined exe in a wide cho engines and will be on the hardtop—and its ultra-rease any other har and when you Chevrolet give extra-roomy now—see the wider selection of model CONÉ B 815 N. Los Angeles Street ANAHEL of $30 million to the GenFund — $10 million from Architecture Revolving Fund $20 million from the Investt Fund. Percentage-wise over the sixth period, the General Fund dropped 0.28 per cent or 19,989 from the total for the period of the 1957-58 fiscal while expenditures increased 33 per cent of $50,726,180. Biggest dollar drops in revenues ing the July-through-Decemperiod were $6,184,859 in the total sales tax and $3,266,089 in bank and corporation francies and income taxes. These two sources remained the General Fund's greatest revenueers, however. The sales tax accounted for $302,063,578 of total income so far this year, the bank and corporation taxor $66,767,589. A GAZETTE WANT. ADCALL BE 5-2206 2 - Anaheim Gazette Anaheim, Calif., Turlus, Jan. 22, 1999 Most meteors burn up as they race toward the earth, and they descend merely as dust which cannot be seen. Ataturk, the first President of the Turkish Republic, was not the only member of his family to establish a "first." His adopted daughter, Sabiha Gokcen, was the first woman military pilot. Mottell's and Peek MORTUARIES COLORADO FUNERAL HOME ARE YOUR SAVINGS EARNING 4% PER ANNUUM PAYABLE 4 TIMES PER YEAR Why settle for LESS EVERY ACCOUNT INSURED to $10,000 We'll Challenge Anyone to offer you a better CLEANING PROCESS than Lustre-Sheen quality controlled cleaning. Genuine Petroleum Proc that takes nothing out of price except the Soil. Lothing's Best Friend" Proved of SATISFACTION" NERS DELIVERY Lustre-Sheen Plant — KE 5-8289 Renovating Service in Re-Ticking Why settle for LESS when you can put them to work at MORE FOUNDED JUNE 20, 1921 EVERY ACCOUNT INSURED to $10,000 SAVINGS PLACED BY THE 10th OF ANY MONTH RECEIVE INTEREST FROM THE 1st ANAHEIM SAVINGS & LOAN Association 187 W. CENTER ST., ANAHEIM • XE 5-2158 ANAHEIM'S BLDGEST LOCALLY OWNER SAVINGS & LOAN ASSOCIATION Chevrolet dealer’s OPEN HOUSE (January 22 through 24) The bright new Bel Air 4-Door Sport Sedan with the same fine fresh body styling on the wheel. The bright new Bel Air 4-Door Sport Sedan with the same fine, fresh body styling as the most luxurious Chevrolet. OUT WITH A NEW HARDTOP W LOW PRICE! Just wait till you see what's waiting for you—a glittering constellation of sleek-lined exciting new Chevrolets in a wide choice of colors, models, engines and drives. The spotlight will be on the new Bel Air 4-door hardtop—and you'll want to check its ultra-reasonable price against any other hardtop. When you do—and when you see how much more Chevrolet gives you in styling, in extra-roomy Bodies by Fisher, in the super-softness of Full Coil springing, in Easy-Ratio steering—then you'll know that this is the happiest surprise of the year. Come on in; don't miss this Open House! CHEVROLET The smart switch is to the '59 Chevy! der selection of models at your local authorized Chevrolet dealer's! CONÉ BROTHERS ANAHEIM, CALIFORNIA KEystone 5-1143