Milford chronicle., 1961-04-07
Survey OF Weeks
News Reveals
Economic Upswing

n natlondl survey OF business ue-
velOpments as reported in the press
this past week reveals a definite
upturn. The Advertising Council
reported from New York this week.
Good news came from both the
steel and automobile industries.
hellwethers OF the national eco
n0my. Steel officials reported the
recovery is continuing. with steel
shipments expected To total more
than 100000 tons in March. That
would be a gain OF at least 5000. 600
tons from the short February month
and make March the best month
for shipments since last August. A
top analyst predicted April will be
better than March.
On the automobile front. Ford
Motor Co. announced il will add
$500 workers in the next three
weeks at its parts plants around
the country. while American Motors
Corp. announced ii would raise
Rambler production by 46 percent
& add about 1000 employees start
ing April Is.
Publishing also joined in the
growing volume of favorable news
Editor & Publisher. trade magazine
of the newspaper industry. publish
ed special issue March % TO re-
port the many ways run-of-paper
color advertising is adding effec-
tiveness TO advertising, helping both
business and the newspapers in
the process.
The New York Times is giving
serious consideration to expanding
its publishing operations to the
Pacific Coast. its publisher an
nounced. and on the magazine side
the nations largest publishing
company. Time. Inc. announced
new highs in revenues. earnings
and circulation. The company
created a book division at the turn
OF the year and is considering ex-
panding into other fields of book
publishing--a clear demonstration
of faith in the future of the Ameri-
can economy
Lever Brothers, a major national
advertiser. announced il will back
its confidence with large increase
in its advertising over the normally
slack summer months.
The magazine Electrical World"
in its management newsletter for
March 27 reported that the stock
market. generally regarded as be-
ing three to six months ahead of
movements in the economy. started
moving upward late in 1860 and
has continued its rally throughout
the first quarter of 1861.
Some economists look at busi-
ness performance in 1860 and see
in it signs of great underlying
strength" the newsletter added
Business has gone through its
biggest postwar swing in inventor
les with less damage TO other eco
nomic indicators than we've wit
messed in the past. This. they say.
shows the diversity of the economy.
and its resistance to slumps in any
one area.
They talk of a new boom begin
ming in the second half of 1861"
The Federal Reserve Board made
the talk of confidence official with
an announcement that February
brought a halt in the six-mOnth
drop in overall industrial product
ion. Bright spots were noted in
higher retail sales volume. in
creased commercial bank credit
and money supply. higher stock
market prices, and an upturn in
iron and steel output and in pro-
duction of television sets. radios
and some appliances.
Another important indication of
confidence in the future came from
the chairman of the American
Bankers Associations installment
credit committee. He predicted an
increase of 16 to 20 billion dollars
in installment credit outstanding
over the next 10 or IL years. Ed
ward ]. Frey. the chairman, re-
lated the prospects for those gains
to a trend to a skilled type of en-
ployment from unskilled. coupled
with a relatively high rate of eco
nomic activity.
DR.. j. Philip Wernette Of the
University of Michigan added, THE
present year will witness renewed
expansion, which will carry busi-
ness to new high levels. This
growth will continue into the in
definite future and viii outstrip
past growth. Productivity, as well
as the average income of Ameri-
cans, will rise about 20 percent by
1870"
Two rival New Jersey automo-
bile dealers decided to stop fight
ing each other and try new gim-
mick. They jointly advertised,
shop our two lines, then compare"
II worked. The trial marriage in
print boosted sales for both makes.
-------OOO--
The Rubicon river which JuIius