Milford chronicle., 1948-01-02

uepASSoApA as SO many peSSlInlSLS are
talking about, but fundamental conditions
will become increasingly less favorable.
Watch out after November 2, 1948.
General Business
2. The above paragraph applies mostly
to gross business. Certain industries will
show smaller net profits This means that,
in some cases, dividends may be less in 1s4S.
Remember some things may be allocated or
rationed again in 194S.
3. The recOnversiOn from war to peace
has been entirely completed; war sur
Dluses are pretty we'll disposed Of; and
1s48 will even show resumption of mill
tary purchases
A.. Inventories, quoted both at their price
values and their volumes, will increase dur
ing 194S. Both raw material piles and man
ufactured goods will be in greater supply
during 194S
Commodity Prices
5. Notwithstanding the above paragraph,
some ALLEGATIONS or priorities may be re-
instated in 1948. The public is sick of high
prices and will make demands for some
price controls in the case of certain pro-
ducts in short supply.
6. The retail price of some goods, other
than food products, will be higher during
194S as the final turn has not yet been
reached for all types of goods
z. We expect to see the peak in whole
sale commodity prices sometime during
lS48. We, therefore, advise going easy on
Inventories, especially. on borrowed money
8. Retail price changes will lag after
wholesale price changes. This explains why
we expect retail prices on good quality
merchandise TO hold up for awhile after
wholesale prices begin to decline BUT
1888 WILL BE A YEAR OF WAR PREPA-
RATIoNs.
Farm Outlook
3. The total farm income for 194S should
approximately equal that Of 1947; but we
forecast lower prices for wheat, corn, and
certain other products. Farmers should
certainly diversity more in 194S, get out Of
debt, put money into, Improvements, and
prepare for real trouble someday
10. The supply Of certain vegetables,
fruits, and fish products should increase
during ls4S and the price of these should
fall on barring some weather, insect, or
blight CatastrOphes
II. Meat will be in shorter supply in
194S than in 1947. Should the current prop
aganda to "eat less and have a better fig
ureP gain popularity, upwards pressure on
meat prices would ba greatly reduced
12. Farmers will try to get both 194S
Presidential candidates to promise further
subsidies
The above four Farm Forecasts assume
normal weather which we do not attempt to
predict t
r's% Lower Taxes
lS, The Federal debt will be decreased
during 1s4S
Il. No personal taxes will be increased
during l94S and there will be some reduc-
tiops,-perhaps So to 1879 in the upper
brackets and the entire elimination of those
in the lowest bracket
IS. We forecast that the new tax bill
viii enable a man to share his income tax
equally with his wife without sharing his
income or property.
l6. The 2586 tax limit on long-term gains
will remain unchanged.
Retail sales
II. Goods on counters will be of better
grade in 194S, even if retail prices hold up.
Is. There will be many "markdown
sales" Of goods of inferior quality and
cuFbs on installment buying may. return
1S. The dollar value Of all retail sales
IN lS4S should at least equal 1947
20. The unit value of retail sales will
be less in 194S than in 1947; there will be
fewer customer purchases in most stores
although each customer may visit more
stores to 'shop around" H.:
ROvo9,,-, fa-oa.
2l' Our foreign trade will be less in 194S
than in l947. We shall help EurOpes but
It will be on a more economical and eff
cient scale
q. More foreign loans will be made dur
ing 1S4s; but many of these will be direct
to business concerns rather than to politi-
cal governments.
%. There will be considerable compe-
tition from other countries in legitimate
foreign trade where the credit is good
Other countries will not compete with us
IN our "charities;" but they certainly will
compete for all profitable business.
"a Throughout 1948 war talk and up-
risings win continue; but no World War
III will start in 1948. WAR PREPARA-
TIONS WILL ACCELERATE.
Labor Outlook
25 1s48 will see an average hourly wage
rise Of So to 79o Lower income taxes
should increase buying power, but this Will
De about Offset by further rises in the cost
Of living.
26 There need be no more unemplOy-
mnent in 1s4s than in 1S47 but "Unem-