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Show Bits O' Business And Things To Come BITS O' BUSINESS Government spending is still climbing. There'll be a $5.5 billion bil-lion deficit this fiscal year, says President Truman, . citing two reasons: high peacetime expenditures, expend-itures, reduced revenues. Last year's deficit: $1,800,000,000 . . . . . Industry "Oscar": Standard Oil Company, (N.J.) walked off with the gold oscar-of-industry trophy awarded by Financial World magazine for the year's best annual report. In second place was Philip Morris .... Look for a drop in farm income in-come in 1950, say agricultural experts. Sagging prices and federal fed-eral production curbs on some crops are the culprits .... Retailers expect a booming Christmas trade this year, fol lowing a buying letdown last month department store sales in New York were down 14 per cent from the same four-week period in 1948 . . . .' Emulating coffee, cocoa costs are spurtinp up fast. Increased consumption and poor crop conditions have pushed price of basic-grade cocoa co-coa beans up 22 per cent in the last month. . . . Billion-dollar annual sales are forecast for the cosmetic industry within a decade; dec-ade; present volume is $700 million. |