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Show Q Experts predict a drop in food prices following fol-lowing peak index of 234.4 reached on November 26. We already have noted in this column decline of prices on fats and oils, eggs and chickens, and big build-up in meat supplies which indicate slide in meat prices. O Office of Price Administration is being flooded with petitions from retail groceries, including in-cluding big chains, that prices are too low and many grocers are running into red. Ac-cording Ac-cording to one source a survey of chain a stores indicates profit per $100 of MAIN sales is 410 for this year in 32 chains crigT as compared to $1.44 last year. Inde- HKsKl pendent stores, however, make better FEATURE profits. OPS is now conducting survey to determine profits. O There is expected general shortage of civilian civil-ian goods in first quarter of 1952, but stores iiandling bicycles and household appliances are forewarned first that bicycle allotments of steel for first quarter of 1952 are cut 50 per cent while washing machines, ironers, dryers and other .home laundry equipment material allotments will also produce a shortage, and layoff of possibly 45 per cent of present plant force early in 1952. CORPORATION DIVIDENDS REPORTED UP O Small Defense Plants Loan; RFC announced plans and procedures for handling loans from 100,000,000 fund set up by congress in new Defense De-fense Production act. Loan applications may be filed at any one of 32 RFC field offices, then called to attention of Small Defense Plants Administration Ad-ministration for recommendation; terms conditions and maturities of each loan to be determined by RFC. All loans must be for defense or essential civilian service and where private funds are not available. O Cash dividend payments of US corporations issuing public reports amounted to $533,000,000 in October, 7 per cent above $496,000,000 paid out in October 1950. From January through October publicly reported cash dividends aggregated $6,-024,000,000, $6,-024,000,000, up 9 per cent over 1950. CCC HAS $39 MILLION DEFICIT Of interest to all business men on Main Street is action of Interstate Commerce Commission in setting January 14 for hearings on railroad petitions for increased freight rates. Railroads filed petition in October for 7.2 per cent increase in-crease to be obtained by putting into effect full 15 per cent increase asked by roads last March. ICC granted 9 per cent in August to apply east of Mississippi and north of Ohio rivers, and 6 per cent in rest of country. Roads say it isn't enough and want balance of 15 per cent increase originally asked. O Department of Agriculture reported price support program loans and inventories of Commodity Credit Corporation as of Oct. 31, 1951, amounted to $2,036,088,000. CCC sustained net loss of $39,052,000 in carrying out program during current zfisnal year beginning July 1, 1951. Prepared by the Washington Bureau of WNU Features. , |
