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Gross national product will probably rise $10 billion in each of the first two quarters, then flatten out to end the year around $480 billion for a 6% increase. Inventories have already reached bottom, will slowly be rebuilt. Businessmen are once again increasing their outlays for plants. Forecast: up $1 billion to $31 billion. Says A.T. & T. President Kappel, who will add $2 billion to the $2.2 billion he laid out last year: "When the recession came along, we had to decide whether to trim capital expenditures as in past recessions. We felt sure that renewed growth was coming...
...River Dam, rebuilt by the colonel after he found it crumbling 30 years ago, and Pottawatomie Park, on which Baker and the Public Works Administration matched funds to provide tennis courts, two swimming pools and a golf course designed by Robert Trent Jones...
...Schachts, and all the other industrialists and scientists without whose enthusiastic cooperation World War II would never have been possible . . . The President is, in fact, a skillful apologist for the German people." Cassandra was unmoved by Heuss's contribution of ?5,000 ($14,000) for windows for the rebuilt cathedral of Nazi-blitzed Coventry: "We want no apologetic tips on our national tombs . . . All I want of them is to wait for a generation to pass before they come sidling up to us saying it was all just a big mistake...
...Romagna region around Bologna, no man was a more generous lender and spender than Giambattista Giuffrè. To thousands of citizens, he was the selfless benefactor whose savings he increased and whose towns he rebuilt. To the Roman Catholic priests and friars whose works he aided, Giuffrè was, in the words of Monsignor Antonio Bergamaschi, Bishop of Montefeltro, "a generous soul open to any welfare initiative." The Vatican made Giuffre a Knight of the Holy Sepulchre, and the President of Italy honored him with the title of Commendatore. About the good works-the monasteries and Catholic Action centers...
...steel industry's scheduled operating rate also continued to climb for the eighth straight week, reached 63.6%, highest since June 16. Steelmen expect the rate to rise to about 70% as inventories are rebuilt and construction awards are translated into more orders for structural steel, which hit the highest level in July in 14 months. Steel stocks paced the market; U.S. Steel hit a historic high of 75⅝. Department stores also reported that sales rose 3% over a year...