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Businessman Santa Claus had both good & bad news in his reports to small-fry customers last week. Now at the peak of its pre-Christmas hustle, the toy industry is shipping a greater variety of playthings than it has turned out since 1941. On retail toy shelves there is many an eye-catching new number, and rubber and metal toys not seen in any quantity in five years. The bad news is that prices are higher (about 10%) and the supply of some items, such as electric trains and dolls, is far short of demand. (One big store estimated that...
Manufacturers blamed the rise on "a cost-price squeeze." Thus, they pointed out that between May and August hide and skin prices advanced 38 points on the Bureau of Labor Statistics wholesale index while shoe prices advanced less than 3 points. (But hide prices were still under the peak of last November while shoes were well up from then.) Said Lawrence B. Sheppard, president of the National Shoe Manufacturers Association: "In the shoe industry, replacement pricing [i.e., raising the price of previously manufactured shoes to cover replacement cost] must be substituted for wishful thinking...
...Labor Statistics reported, new highs were reached both in industrial employment (43,000,000) and industrial wages (an average $50.42 a week). The Federal Reserve Board reported that industrial production also rose three points in September to 185% of the 1935-39 average, only five points below the postwar peak in March. And the Bureau of Agricultural Economics predicted that consumers were not likely to cut down their spending...
Replacing the Graduate School of Arts and Sciences as top dog, the Law School boasts a probable current attendance of 2,131 compared with 1,899 of six months ago. The estimated Arts and Sciences 1,900 enrollment is a distinct drop from the springtime peak...
British municipal elections came in for close scrutiny with an eye to possible effects on Congressional discussion over foreign aid, it was reported yesterday. There has been considerable debate of what their opponents call "Socialistic trends" in Europe, this having reached a peak during discussion on the British loan. Congressional criticism of political trends in Western Europe has been especially directed at the British government, with allegations that it has not been able to get the people to make a maximum production effort, regardless of its political color...