Facts & Figures

More for Farmers. Despite the sharp drop in commodity prices last month, farm income in the first quarter of this year is expected to reach a peak of $6.4 billion. For farmers, the only effect of the commodity drop, reported the Department of Agriculture, was to cut the size of their increase over 1947 from 12% for the month of January to an estimated 6% for the first quarter.

Less for Steel. Acme Steel Co., which recently raised prices on finished steel from $6 to $8 a ton, changed its mind. The company, one of the biggest electro-galvanized sheet producers in the U.S., canceled the increase because no other big manufacturer had followed suit.

Tired of Waiting? Michigan's Hayes Manufacturing Corp. (auto parts), which recently declared its first dividend (15^ a share) in 18 years, was having trouble getting it to its stockholders. As several hundred of the dividend checks came back marked "address unknown," the company conscientiously ran newspaper ads in an effort to track down the lost or strayed stockholders.

Funk Money. Worried by the flood of "funk money" (i.e., fear money) flowing from Britain and other sterling areas (one recent report listed $270,000,000 in foreign bills discounted), South Africa clamped down. The government ordered commercial banks to refuse all large deposits from overseas unless the money was for investment in South Africa.

Like Old Times. The auto industry, not yet feeling the effects of the coal mine stoppage, expected to make more than 1,250,000 units in the first quarter, about equal to the peak prewar total. For customers awaiting new cars, the volume was not so cheering as it seemed: 27% of it would be in trucks, compared to an average of about 20% prewar.

Two-Way Tumble. U.S. exports & imports both tumbled in January. Exports of $1,017,900,000 were 28% under the postwar peak last May. Imports of $543,700,000 were only 9% less than the postwar peak in December.

Charmer's Charm. The Sheraton Corp. of America hotel chain's cocktail lounge "Service with Charm" (principal item: nylon-gowned waitresses picked for looks, height [5'6"] and underpinning) had worked like a charm, said New York General Manager Gilbert Johnson. It had more than doubled liquor sales in eleven hotels and will be extended to all the rest with lounges (six).

Patents Pending. General Aniline & Film Corp. offered to lease over 3,500 patents for products and processes that it does not want to exploit itself. This brought to over 43,000 the number of patents (ranging from high explosives to foldable spades and hoes) which the U.S. Office of Alien Property, owner of General Aniline, has released to U.S. businessmen.

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