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Show I fxmrnasBBSILD O Of interest to Main Street merchants is 1952 goals for agricultural products announced by Department of Agriculture, approximately 6 per cent over near record output of 1949 and nearly 50 per cent greater than 1935-39 average. Top priority is given all feed grains, be- cause of low surplus and increasing A '' ' 1 livestock numbers. Increase includes 'MAIN 15 per cent more corn than 1951, 29 per SxorCT cent more grain sorghum and 14 per cent STREET more barley with oats production about -FEATURE same as last year. O Department of Commerce reports national income in-come reached a seasonally adjusted annual rate of $278 billion in third quarter of 1951, $3K billion above second quarter. Over four-fifths of increase, in-crease, however, was due primarily to rise in employee em-ployee compensation and defense-related government payrolls. Farm owners Income expanded $1.000,000,-000 $1.000,000,-000 or 6 per cent. Third quarter profits after taxes were down to annual rate of $16 billions, compared to $18 billions in second quarter and $2054 billions in first quarter. These figures reflect increased taxes based upon combined federal fed-eral and state profits tax liability of almost 60 per cent as compared with rate of 45 per cent in 1950. Full year profits after taxes in 1950 were $23 billions. Only profit declines in major manufacturing manu-facturing groups occured in food and automobile industries, down 5 and 14 per cent respectively. RETAIL DRUG SALES DECLINE NOTED Q Retail sales: Drug stores in November were $363 million as compared to $375 million previous month. Chain drug stores for same month were $73 million. Grocery stores, $2,550 million as compared com-pared to $2,516 million in October; retail dry goods, $393 million as compared to $382 million; radio and appliance stores, $264 million as com- -pared to $261 million. O Defense Production Administration certified names and addresses of about 3,000 small business firms throughout country as worthy of "special attention at-tention from government procurement officers in granting defense contracts. These firms reported in serious financial difficulties because of cutbacks cut-backs in copper and aluminum for first quarter of this year. To funnel short materials to these firms Small Defense Plants Administration ha3 created cre-ated new office charged with concentrating efforts ef-forts to see these firms get share of vital materials. ma-terials. O The small business office has a new tax bulletin setting out principal types of federal state and local taxes and tax laws which must be considered in operating small business. Copy of "Basic Tax Information for Small Business" may be obtained free by writing Division of Printing Services, U.S. Deparment of Commerce, Washington 25, D.C. CORPORATE WORKING CAPITAL INCREASES O Corporate net working capital continued to increase during third quarter 1951 with September estimates at $79.2 billions, reflecting growth of current assets of $3.9 billions. Prepares by the vVaehlngloa Bareaa f WNO Featarea. |