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Show Friday. November 23. 19S6 THE UTAH STATESMAN Page 2 THE UTAH MA STATESMAN Red China Still Expolsive Issue Weekly Newspaper Devoted to Good Govemmeit" Edwin W. Kain, Advertising Manager Phono EM 421 Church Street 4-3- Entered as 2nd Class matter at the Post Office at Salt Lake City. Utah, under the act of March 3, 1879. -- Subscription rate 1.00 per year Published weekly at 421 Church Street, Salt Lake City, Utah. NATIONAL EDITORIAL ASSOCIATION, 111 Tol. 10, No. 46 1956 November 23, 1956 3rd Quarter Reports Show Decline In Bright !56 Profits A disappointing tail, drugs, rail equipment, busiNEW YORK third quarter for many companies ness machines, machine tools, and has pulled high soaring profits down for the first nine months of the year. They are now even with last year for American business taken as a whole. This is still a very high level. But it breaks the stream of gains which had characterized corporate earnings since year-by-ye- ar 1952. This is the indication from a survey of the first 502 corporations to report net profits after taxes for the first nine months of 1956. Combined, their earnings this year trail those of the same period in 1955 by 0.5 per cent. This is only a preliminary report. Hundreds more will make public their earnings statements in the weeks ahead and the final figure could be different. The combined drop so far shows up despite record earnings reported by many companies and despite the fact that two out of three of the 502 corporations show increases over last years figures. The declining third, however especially those in the auto, steel, farm equipment industries and individual giants in the chemical, electronics, and aircraft fields took a deep enough plunge to outweigh the gainers and bring the total, or average, down. But many of those who reported smaller profits this time declare that the final months of this year lobk so good for their business that much of the drop will be erased. The steel strike last summer gets much of the blame for poor third quarter figures which pulled down the gains made in the first of the year. Steel companies, railroads serving them and some of steels customers suffered. The auto industry has had its own sales troubles, but hopes theyre over now. Declining farm incomes show up in the profit and loss statements of the farm equipment makers and also in those of chemical companies making fertilizers Building material firms suffered from the decline in home building. But for many corporations the story was simply this: Operating costs labor and materials have been rising faster than sales volume or prices for their finished products. On the other side of the picture there are glowing reports from many of the oil companies, coal companies, and nonferrous mining companies although with the last the report is' far from unanimous. Good gains are reported by the following groups. Shipping, re UTAH MOTHER FEATURED Utah Mother featured in the TRUTH ABOUT THE FABDIET ULOUS FORMULA in December LADIES HOME JOURNAL now on sale machinery. Also stepping ahead of last year are these groups: Oil equipment, rubber, cement, electrical equipment, appliances, food, tobacco, airlines, and utilities. The 420 industrials in the survey, with 124 not doing as well as last year, show a combined drop of 1.0 per cent from a year ago. The 27 utilities are up 8.9 per cent. The 46 railroads, with 30 showing a decline, were off as a group by 9.9 per cent. Combined, the 502 corporations report earnings of $7,889,701,575 for the first nine months of 1956. In the similar period of 1955 the same 502 made $7,933,888,006. This year 11 of them operated at a loss. Last year 13 did. If the final months of the year boom as now seems likely, the profit report for the entire year should make a favorable comparig son with 1955. , super-boomin- Of Non-Admissi- on Despite the loud objections of India and Russia, the Steering Committee of the U.N. General Assembly has passed a U. S. resolution barring debate on the admission of Red China during this years assembly session. This would seem to sweep this explosive issue under the rug for another year, although Indias Krishna Menon and the Soviets Vasili Kuznetsov, who protested and ilthe action as legal respectively, warned that the Red China 'question would be raised again before a meeting of the full, Assembly. Considering the source of the warning, this seems remarkably sporting. But it should xrot be discounted, and it might be indicative of the confidence of this une holy pair in the outcome of a debate. As matters stand today, a number of the recently admitted members may be expected dutifully to follow the Red cause. The eight members voting for the U. S. resolution to cancel the debate were the U. S., Britain, France, Nationalist China, Peru, Turkey, Pakistan and the Dominican Republic. And it might be ing against us were the U.S.S.R., well to remember that those India, Egypt and t - New Leftover Turkey Treat high-hande-d er full-scal- Denmark. Further, we hope our statesmen will bear in mind Indias passion for Red China when Washington rolls out the carpet (a red) for Headman Nehru on his impending visit. non-Com-mun- Does that old question what to do with Holiday Turkey left overs" have you stumped again this year? If so, heres an answer to this perennial problem thatll make the family stand up and cheer! Treat and youll find Its spicy, easy to make, Turkey Tamale y hashes and a la usual the from it a welcome change d is its Treat Tamale of secret A flavor Turkey kings. while crust you Albers com meal crust. Time saving tip: bake the make the Ailing. post-Holida- pre-bake- TURKEY TAMALE TREAT (Maku 4 to 6 Mivlngi) Crust and Topping: Combine 4 cups water, 1 tablespoon salt and 1 cups Albers Yellow Corn Meal in saucepan over medium heat. Cook until very thick (about 7 to 10 minutes), stirring conbuttered casserole with stantly. Line sides and bottom of oven (400 F.) about Bake corn hot mixture. in meal of the 23 20 minutes to give a crisp crust. Remove from oven and fill with turkey filling. TURKEY FILLING 3-- cup chapped onlm ihortanlng 2 cupi 12 cam) tomato cauca 1 cup (4 euncei) grated cheddar chccie 1 teaspoen colt 1 tablaipewi chill pawdur 2 cupi diced ceeked turkey 1 J tailacpaans 1 tabletpeen cugar I f. ! T1 , well-drain- whale kernel cam Vi cup diced ripe ellvei While crust is baking, brown onion in shortening in large skillet over medium heat until golden brown. Add tomato sauce and cup grated cheese. Stir constantly until cheese is melted. Stir in salt, sugar and chili powder. Add turkey, corn and olives. Mix well. Cook mixture about 5 minutes longer over low heat. Place turkey mixture in corn meal lined casserole. MiTop with remaining corn meal mixture. Sprinkle the remaining cup grated cheese F.) about 30 pin... Jbly. -- Out of Kentucky, the great bourbon country, comes the greatest of them all, mellow, warmhearted, aged to perfection six full years . . . Ancient Age. Ve challenge you to find a better bourbon. Kentucky Straight Bourbon Whiskey 6 Years Old 86 Proof Ancient Age Distilling Company, Frankfort, Kentucky |