Kankakee Valley Post, Volume 18, Number 6, DeMotte, Jasper County, 2 January 1948 — Page 7 Advertisements Column 2 [ADVERTISEMENT]

? Agricultural News-Letter | \) m

Prepared by Agricultural Dept., Chicago Journal of Commerce Food Demand Outlook Good REPORTS from abroad indicate that Europeans are making extensive plans toward a big reduction in the use of U. S. Foodstuffs and hoping, thru the privileges of the Marshall plan, to substitute the importation of heavy industrial equipment and other basic materials needed in the manufacture of goods. , . . This action should not be too alarming to agriculture since it should go a long way toward maintaining the current high rate of domestic business activity, thus affording a continuation of the large 'detfhand for food. That industrial production is running at a rapid rate is shown in a late report of the Federal Reserve Board. . . . November output, it is said, was at the highest level in peace time history, based on physical production as well as in dollar volume. ... It was 92 per cent above the 1935-1939 average, and the third consecutive month to show an increase. .. . There had been a decline in the four successive months following last March. Department store sales were at new highs, topping the corresponding period of last year by 8 per cent. . . . Wholesale commodity prices for some industrial, products continued to advance, while retail food prices generally changed little in November and the first half of December, the report stated. . . . Bank loans to businesses, consumers and real estate owners expanded further and checking deposits of individuals and businesses increased $800,000,000 in major cities, and money in circulation increased $400,000,000. The increased industrial production of November occurred in spite of a slightly lower rate of steel production than in October, the Board said. However, scheduled steel operations reached new post-war peaks in early December.... The output of durable goods in general expanded in November. THIS COLUMN IS SPONSORED BY KONOVSKY LUMBER YARD

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