BUSINESS REVIEW
(Continued from Page 9)
the larger firms show favorable progress,
reflecting the soundness of the firms and
also the healthy condition of business in
the U. S.
Many predictions about the second half
of 1947 were made by business leaders duro
ing the summer. Some of them, such as the
National Citv Bank report, urged certain
cautions. Everybody seemed to agree that
a recession had not yet set in, and also that
inflation is likely to mark the course of the
country for the rest of the year. A real
post·war boom has been under way for two
years and seems likely to continue into next
year.
Two of the so· called props to prosperity
began to weaken during the summer and
this. caused many leaders to set up caution
signs. Inventory buying was a big reason
for post· war prosperity and such buying
began to show signs of weakening in May.
Our big export trade has also been one of
the strongest props to a business boom and
it began weakening during the summer. But
high industrial activity continued and also
the masses kept spending money. Cashing
bonds for the veterans will also inject more
government money into the business life of
the country at a good time of the year.
Digest reports on some of the various
factors that enter into the business life of
all of us are as follows:
AUTOMOBILES-Trade reports now
say supply of new cars will not equal de·
mand for another two years yet. Prices on
"used" new cars continued at a fabulous
figure, although the industry took steps to
prevent it. Used cars continued at a high
price during the summer. Output of new
cars and trucks dropped during the summer
JIr~ YOU OPERATE CONSOLES
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DO NOT OVERI.OOB THIS!
TO SAY IT IS SENSATIONAL WOULD BE PUTTING IT MILD
COIN
MACHINE
REVIEW
16
FOR
SEPTEMBER
"47
THIS REBUILT AND REVAMPED "FOUR BELLS" HAS VERY
LITTLE OF THE EXTERNAL APPEARANCE OF
THE ORIGINAL "FOUR BELLS"
It has a new, very attractive two-color "Hammertone" finish in deep blue and silver.
Newly designed Coin Heads, Ash Trays and Top Glasses.
New Pay Combinations: One Cherry pays 2, Two Cherrys pay 6, Three Lemons pay 10,
Jackpot Award of 180 on each of the four selections.
The Orange, Plum, and Bell Awards have NOT been changed . This creates a far
greater play appeal.
• •
.
.
•
Interior has newly engineered relays that posoilvely WIll not stock or fa'! to operate
~~~
.
Solenoids on all the payout units have been rebuilt to assure much faster and more
positive action.
Incorporated are all the anti-cheat devices that our engineers have been able to
discover.
MORE THAN TWENTY-FIVE IMPORTANT CHANGES AND IMPROVEMENTS
-
GUARANTEE-
Try one or more of these machines on any of your locations f.or 10 dciys, and if·tt
does not substantially increase your revenue, you may return It, or them, and your
money will be refunded . References exchanged .
THESE MACHINES MAY BE HAD IN ANY COMBINATIONS FOR COINS OF
•
Sc, 2Sc AND SOc DENOMINATIONS
( '.
3. A. EWING
720 S.Chester Ave.
Phone 2-7663 .
Bakersfield,Calif.
for well·known reasons, and manufacturers
were trying hard to recover during August.
Manufacturers announced price increases
during August to cover higher steel prices
and wages. Tool and die makers reported
that many car manufacturers started tooling
up for really new post-war cars. Inde·
pendent auto makers were ahead on this
race for new 1948 models.
EMPLOYMENT-Reports continue to
say that business activity and employment
are highest in th€l Chicago and lake area.
Milwaukee was said, in an official report, to
have the most evident labor scarcity of any
city in the country. The same report said
unemployment increased slightly on both
Coast areas. An official report at the end of
July said simply that "jobs grow scarcer in
U. S. industry." Fewer factory jobs were
available last May than for any May since
1940. Some reports said the whole picture
of business and employment is now getting
back 'to the pre·war pattern and that reo
ports of spo tty unemployment will increase.
The whole picture of U. S. business, how·
ever, was one of peak activity. Employment
stood at a peak level also. But here and
there definite signs of leveling off were
showing up. The physical volume of retail
sales has been dropping since February.
FARMERS-Even with the haphazard
fortunes of the corn crop, most crops for
1947 promise to be abundant and prices are
also advancing. Official reports say the level
of farm prices rose two per cent during the
summer. Business in the smaller cities and
towns should be better as a result.
EXPORTS-General export trade
began dropping in June and caused busi·
ness leaders to begin to worry, because our
unusual export trade was one big reason for
a business boom in the U. S. England's
plight grows worse .day by day and this
means Europe generally. Sweden began
loosening up on some import restrictions,
but dollar shortage grew worse over most
paJ'lS of the world. Even Canada and Mex·
ico are said to be hunting dollars wherever
they can be found. More restrictions on
U. S. goods must be expected in South
America, although Chile has made new
agreements to take goods. The Port of
Houston is enlarging its shipping facilities.
GASOLINE-The summer was marked
by steps to prevent a real gas shortage from
developing; the increased summer demand
made the problem more acute. The major
oil companies began allocating supplies.
Prices were advancing during the summer
also and part of this was said to be due to
state taxes. Tourist travel was at a record
level and the American Automobile Assn.
asked motorists to "take it easy" during the
summer and save gas by driving slower. A
car at 60 miles per hour burns 58 per cent
more gas than at 40 miles per hour, the
appeal said. Gasoline production and con·
~umption were hoth rising during the sum·
mer. A Senate inquiry started in Chicago
Aug. 21 to consider whether small inde·
pendent stations were getting a fair share
of gasoline. The oil industry says definite
plans must be put into action to prevent a
shortage this winter.
GENERAL OUTLOOK-The National
Industrial Conference Board surveyed busi·
ness leaders on their views of the general
business outlook for the second half of
1947. Views and predictions varied consid·
erably, but most business leaders were for
"greater conservatism and more cautious
buying" during the rest of the year. Only
one out of ten heads of firms expects orders
to exceed shipments during the rest of the
year. About one-third of the executives ex·
pect sales to increase during the s,econd
half, as compared with the first half of the
year. More than half of the firms expect