Evening star., 1951-08-20
u. 5. Production Rate
Shows ST Billion Gain
In Second Quarter
By Nelson N. Shepard

the year, coupled with a marked
reduction in private consumer de-
mand that eased inflationary pres.
sureS, Secretary Of Commerce
Sawyer reported today.
Production increased to an an.
nual rate Of 1926 billion in the
second quarter. This latest figure
for the market value, Of the Ma.
tion's output Of goods and service:
compares with 1919 billion in the
preceding quarter. or 81 billior
higher. It exceeded by $51 billion
the figure for the corresponding
quarter q year ago.
Personal income, on the othel
hand, rose to an annual rate o1
$3.50 billion, compared with $244
billion in the first quarter and $685.
billion in the final quarter Of 1850
increases, respectively Of $6 billion
and $12 billion. There was nc
breakdown by States.
Price Rises Taper OF.
Owing largely to the slim taper
ing-o1 of the general rise in
prices, the increase In value Of
the national output from the first
to the second quarter was some
what smaller" than other quarter
ly advances during the year, Mr..
Sawyer said.
Most Of the rise in personal
income from the first to the
second quarter came from the
continuing growth-$5 billion, at
the annual rate-of wages and
salaries. Largely reflected in
Government payrolls, as in other
recent quarters, the wage increase
was brought on mainly by the
Korean war.
The rate Of advance in the
componentS earned In current
production was appreciably re-
duced, the Treasury head said.
But the irregular movement Of
corporate dividends-which fell
In the first quarter after large
year-end extras" but rose in
the second-made the latest
quarterly increment in personal
income approximately equivalent
to that in the second period.
In private industries, second
quarter payrolls exceeded $140
billion, as compared with $137
billion for the January-March
period. stemming primarily from
higher hourly earnings. Further
expansion of employment also
was a factor, especially in dur
able goods manufacturing.
New Building to Open.
The Hugh Reilly Co.'S new
master painters store" is sched-
uled to open next month at 926
N street NV, marking another
step forward in the long history
Of this well-known Washington
business.
The $150,000 building has been
specially designed for quick and
efiicient service. Spacious park
ing space adjacent to it has been
made available. The Reilly firm,
functioning since 1888, has its
main store at New York avenue
and Fourteenth street NV.
Bruce Baird, president Of the
National Savings and Trust Co.,
left New York by plane Saturday
for Stockholm for q two-week
study of banking conditions in the
Scandinavian countries. He was
accompanied by his wife, a New
York dispatch said. AS reported
earlier, they will visit their daugh-
ter, Mrs. Mark H. Cornell, whose
husband is with the Enoconic
Cooperation Administration while
In Stockholm.
ABA Chairmen Announced.
Chairmen of the main host COM
mittees to the American Bankers
Association annual meeting in
Chicago, September 30-October 8,
have been announced as follows:
Arrangements: M. A. Georgen,
cashier, City National Bank &
Trust Co. Entertainment: William
H. Miller, senior vice president,
City National Bank & Trust Co.
Finance: John w. Nichols, vice
president, Continental Illinois
National Bank and Trust Co.:
Halls Donald McDougal, second
vice president, Northern Trust Co.
Hotel: c. Edgar johnson, vice
president, First National Bank Of
Chicago. Information and pub
licity: Robert Lindquist, vice presi-
dent, La Sale National Bank.
Ladies: Mrs. Carl A. Birdsall and
Mrs. Homer j. Livingston, CO.
chairmen. Registration: o. Barry
Wallace, vice president, Continen-
tai Illinois National Bank and
Trust Co. Transportation: Charles
NJ. Nelson, vice president, Northern
Trust Co.
Two Attend Banking School.
Two Washington bank cashiers
are currently attending the school
of Banking Of the South, which
opened for two weeks at Loui-
siana State University, on August
IL. They are Harold w. Kicker
of AnacoStia National Bank and
Howard I. Beall, jr., also cashier
in the same bank.
-Four Washington banks have
on hand 10000 Booker T. Wash
ington half dollars, which Con-
gress authorized honoring the
Nations noted Negro educator.
and to help perpetCate his ideals
and teachings, S. j. Phillips,
president Of the Booker r. Wash
ington Birthplace Memorial an
nounced today.
Sales to Continue.
The participating banks are
Hamilton National, American
Security & Trust Co., Lincoln Ma
tional and National Metropolitan.
Sales of the coins, bringing 81
and 50 in some cities, will con-
tinue to September 5, or until the
supply at the aforementioned
banks is exhausted.
Murray & Hester, Washington
paper products company, is seek
ing to bring some needed color to