IA We the private sector of the economy. ‘dominating Washington trends in | {= DALLAS, PENNSYLVANIA THE DALLAS POST, TUESDAY, MAY 28, 1968 SECTION B — PAGE 3 QUARTERLY BUSINESS AND FINANCIAL FORECAST As we move into the second quarterggi 1968 the economy is genenalk Product has shown good gains dur- ing the last few months, as have employment and personal income, though betterment did not reach earlier sanguine expectations. Looking ahead into the May-June period, we perceive signs of addi- tional gains for the nation’s busi- ness. Propelled by still rising mili- tary procurement for Vietnam, size- able over-all defense gequirements, and heavy federal and other gov- ernment spending, economic .activ- ity promises to move moderately . higher. . The supporting factors cited above will likely be augmented by still more bullish activity in the steel industry and well-maintained to possibly somewhat firmer over- all performance in other parts of, To put it another way, on balance second quarter business should be | quite good, improving on the per-: | formance @alked up in the period now drawing to a close. But the rate of increase seems slated to slow down, and the longevity of the rise itself will be coming more | and more into question as midyear: approaches. VIETN The war in Vietnam and our miatary and economic in- | volvement * in ‘Southeast Asia are this quarter. While' a cessation of hostilities is widely desired and eagerly sought by a number of other governments as well as our own, the = respective positions of both sides have hardened since the Nerth Vietnamese Tet offensive which re- sulted, in such heavy casualties to all © combatants. Reluctantly but resolutely, the President will prob- ably move toward some further buildup of military strength, but in the second quarter he will not ap- | prove “anywhere near as large an escalation as the generals are re- ported to be urging. : MONEY. AND INTEREST RATES | We foresee some tightening in | money, but certainly no massive | crunch. However, the Fed has | moved to tighten availability mod- | ‘erately and this will put upward | | pressure chiefly on short-term in- terest rages. © Long-term rates, on the inland will likely change 1 further slackening in little as business w for new plant A tax boost |! ‘and equipment occurs. LUZERNE COUNTY FARMERS CO-OP Rear 84 Scott St. Wilkes-Barre Incorporated 1920 823.4315 WE SELL ==- and you can't bgt our prices | VEGETABLE SEEDS | GRASS SEED _ HAND DUSTERS INSECTICIDES for FARM - GARDEN LAWN 31 KILLERS N A ND Po Ww i n SPRAYERS strong. Gross National | interest t would push tax-exempt costs lower, THE DOLLAR-—The nation’s con- | tinuing goid arain and uniavoraple balance of international payments are extremely serious and will pose new challenges to the government and. to the economy itselt over com- ing months. There will, however, be no devaluation of the dollar and no boost in the $35-per-ounce price of gold in the second quarter. TAXES—In the wake of the gold crisis, the international bankers are insisting that LBJ up taxes and cut | expenditures. = Altho the tax sur- charge was marked for death, ‘it! If the Presi- | dent should conclude that we must | | of high and still rising land, labor, could now be revived. again escalate dramatically in Viet- | nam, higher taxes could come by Midyear, casting their shadows be- | | ment and of appropriations for pub- SPENDING—Uncle | Sam was all set to shell out more fore them. FEDERAL money with national security ex- penditures predominating, when the | Central European Bankers blew the | whistle. Spending at all levels of government will still enter new high | ground, pushing the annual rate | close to the $200-billion mark. How- | | ever, foreign aid funds will be fur- | ther curtailed by Congress; and new | federal piograms enacted into law | to help cities, advance education, | and promote civil rights will not | | appropriate amounts which advocates of these | measures are presently pressing for. | anywhere near the EMPLOYMENT AND UNEM- PLOYMENT—Ags Vietnam and other greater demands on ther increase, unemployment will hover near what must be just about an irreducible minimum, and the | shortage of skilled labor will be- | come more serious. LABOR PROSPECTS—Shortage of skilled help will place labor in al still more powerful bargaining po- | Cy IT PAYS TO ADVERTISE ~ sition vis-a-vis management, with the squeeze hurting hard as over- | all economic activity gathers more momentum. However, it is well to remember that wage and price con- trols are being held in the wings and will be imposed if the economy should become overheated and/or our balance-of-payments situation more severely threatened. STRIKES—Labor walkouts may not capture quite as many head: lines in the second quarter as they have in some past! periods, but they are sure to be fairly numerous and to cause some supply-demand dislocations in various sectors of the economy. At this writing, the odds would seem another large troop buildup in Vietnam with all that it’ would entail, the likelihood anticipated heavy hedge-buying in the . April-June period would run well below present expectations. PERSONAL INCOME—Newly up- ped minimum wage rates and ex- panded social security payments will combine with additional gen- interest and dividend payments to lift incomes to new peaks . . defense and security efforts place | manpower, | -total employment -will- show a fur---g of a steel stoppage would fade and | 5 erous wage settlements and high: . but | Bp inflation will cut into the gains as prices continue their uptick. RETAILING—If you're a retailer, your cash registers should be ring- ing up a heartening increase in dol- lar sales. However, the boost in actual turnover of goods may amount to not much more than half the gain in dollar volume, owing to price increases. And unless you can manage to exercise strict con- trol over costs, the rise in profits versus the first quarter nay well | be disappointing. BUILDING AND CONSTRUCTION. —Home building promises to show: | a seasonal increase over the first quarter, with ment units predominating because ‘and material costs. Cutbacks of spending for new plant and equip- lic building will put a damper on public and: commercial construction, though hospital building will likely show a further good upturn in the period under consideration. AUTOS—TMHere the outlook is gen- erally rated as good, . though no new boom is in the offing. While | we look for improvement to be no more than what might normally be expected on a. seasonal basis, the balance of factors does suggest a further boost in profits. | FARM PROSPECTS—Spring plan- | tings of barley, cotton, flaxseed, and but there may be some cutback in | soybean acreage disqualifying direct feed- nounced regulations soybean acreage for grain payments. For the three months’ just ahead, their gross income should show bet- ! ter gains than in the first quarter, | but the boost ini net will not keep | pace. (To Be Continued) Need LETTER HEADS ? Try The Dallas Post Driveways Parking Areas CRUSHED STONE “Meeting Pa. 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ICEBERG — "24 SIZE" CORN 6 Ears 39¢ RED RIPE SLICING i WESTERN LETTUCE | carrots 2: 19c| TOMATOES 64-SIZE—LGE. ONE PRICE , . . 2 5 29° FIA ORpfions ile. 20° TE +» STRAWBERRIES > 45c HAT JANE PARKER BAKERY BUYS! |=—— A&P FRUIT DRINK POTATO CHIPS BEVERAGES 5c CANDY BARS CHARCOAL BRIQUETS SALAD DRESS TOMATO KETCHUP : 1-Qt., 14-0z. @ = grancs. oases Lome 830 1-Lb. YSAVE 10c ree. 43C 12-0z. REG. ‘or LOW CALORIE 12 ¢.7 85¢ CHEWING GUM Box cs 19C of 24 33C = 10-Lb. S 6S9¢c SULTANA BRAND = 45¢ 14-0Oz. 67¢c Bots. IN ANN PAGE ANN PAGE BEANS :osronciciranan 6 cane 95€ A&P ORANGE JUICE CHARCOAL LIGHTER . LOUIS SHERRY STRAWBERRY Preserves OUR OWN (INSTANT) 11%4-Oz. ICED TEA MiX WITH LEMON & SUGAR BIG VALU DIXIE BELLE Saltines . CAMPFIRE MARSHMALLOWS MUSSELMAN'S CHERRY PIE FILLING 1-Lb., 4-Oz. 57¢ Half Gal. Fla. Fresh 63¢c HOMESPUN & 37¢ | PAPER NAPKINS .... 2% 9c 2 55g | FRUIT DRINKS ...... Ji 35¢ = 89g | EIGHT O'CLOCK COFFEE :: g3¢ 1» 23¢ | STUFFED OLIVES .... 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Significant historical Pennsylvania newspapers