PAGE SIX
UNIVERSITY DAILY KANSAN. LAWRENCE. KANSAS
MONDAY. JANUARY 30, 1950
1.
General Motors Earns Top Profits For World Firms
New York—(U.P.)—General Motors corporation earned more profits the past year—over 600 million dollars—than any other company ever made in a similar period, Alfred P. Sloan, Jr., chairman of the board, has revealed to the public.
Addressing 500 leaders in industry, finance, and civic affairs at a "forward from fifty" luncheon, preliminary to his company's annual auto show—the "mid-century motorama"-Mr. Sloan termed a "satisfactory" year for the industry and for General Motors.
The past years profits, he stated, "are likely to move up to over 600 million dollars." Such a figure is well over $13 a share on common stock, on which 1949 dividends totaled $8 per share. In 1948, net income amounted to $440,447,724, or $9.72 a common share; while common dividends that year aggregated $4.50
G. M. had available for taxes and profits in 1949," he added, "Somewhat over $1,100,000,000. The only way the stockholders can get their profits," he continued, "is through dividends. Of this $1,100,000,000 the government 'take' in corporation and individual income taxes, based on 1949 profits, is estimated to be over 600 million dollars."
"If we compare 1949 with 1936," Mr. Sloan said, "We find that the return on capital employed rose only three percentage points. And to accomplish this we had to increase our sales in terms of -949 dollars from $2,500,000,000 for 1936 to $5,500,000,000 in 1949."
"In recent years," Mr. Sloan warned, "Economic incentive has been weakened by the ever-increasing 'take' of government. I fear the effect is beginning to be felt on the economy."
"No matter how great his accomplishment, the individual today cannot hope to earn much more than enough to provide for his current needs and for a pension at retirement."
The responsibility and self-reliance of the individual."Mr. Sloan said, "can be diluted by the oversolicitude of a welfare state."
Charles E. Wilson, president of G.M., told the business leaders that "I expect 1550 to be a very prosperous year. "I see no reason" he added, "that the next 10 years should not also be increasingly prosperous."
Dog Adopts Family Of Young Puppies
Dayton, Ohio—U.P.) —A Dayton woman has offered her dog as a foster mother for the six puppies in her nursery. The mother is too sick to care for them.
Mrs. O. E. Berst said her dog, Rusty, half Doberman and half bulldog, could easily handle the additional burden.
A. C. Friesen, Salem, appalled for a foster mother yesterday after his registered Cheapeake retriever, Deep Water Lady, gave birth to 13 puppies by caeserian section and five overcooked Six of her puppies died. And the Salam dog, who has gangrene in one foot, can't nurse the others.
Mrs. Berst said Mr. Friesen only had to send the puppies to her and Rusty would take over.
"She has four puppies of her own that are nine days old and she has plenty of good, rich milk," Mrs. Berst said.
In addition, Rusty has already had experience as a foster mother having raised several litters that were not her own. Mrs. Berst gave two veterinarians here as references. The doctors agreed that Rusty could handle the job.
Now They Tag The 'Hams'
Tallahassee, Fla.—(U.P.) Florida citizens will be able to recognize radio "hams" by their auto license tags in 1950. The state authorized special plates bearing call numbers of the operators.
Deep-sea Divers To Salvage Sunken Logs In Idaho Lakes
Coeur D'Alene, Idaho—(U.R.)—A veteran deep-sea diver has moved into this primitive north Idaho region to take on a salvage job. He thinks it may keep him busy the rest of his life.
The diver is Lee E. Waggoner and his salvage is sunken saw-logs in Panhandle lakes and rivers.
Mr. Waggoner and his wife, Dorothy have formed the Idaho Diving Salvage company. They have obtained 20-year leaves from the state to salvage on the Couer d'Alene, Pend Oreille, Priest, Spirit, and Cocolalla lakes and the Priest and St. Joe rivers.
The 49-year-old diver from San Francisco said he hopes to get going on the operation soon. Meanwhile, he is occupied with the task of shipping seven barges and two L.C.V.P. boats by flat-car to this area from San Francisco.
"When the work starts humming full speed, seven crews of 200-300 men will be working at one time," Vaggoner said. "There will be about a third of the other crew will be made up of deckhands, tenders and winchmen.
"We won't work at depths of more than 100 feet, as going any deeper isn't efficient. But each crew ought to have a day produce 40,000 feet of lumber a day."
Mr. Waggomer has been diving for 27 years, and during World War II she was the chief diving inspector for the US Marine service at San Francisco.
But to talk to him, he sometimes sounds more like an old lumberjack than a deep-sea diver. That, he says, is a result of the last three years he has spent "snaking" logs out of Lake Whatcom in northwestern Washington, where he did "pretty well" for himself.
"I'd just go to the bottom of the lake with a cable, fasten it to the log and the winchmen on the barge would pull it up," he said.
But Mr. Waggoner plays it cagely (or the Idalo, job) he explained (or the Idalo, job) he explained.
“There are too many other divers around looking for ways and means to keep working. After all, that's how the business, by looking for something new.”
Mr. Waggoner and his wife spent six months surveying the lakes and rivers before applying for permits to log them. He said he discovered there were literally millions of sunken logs, 60 per cent of which are first growth timber.
"At first, selling the idea to plywood, paper pulp, and sawmil operators was pretty hard," he said. "They'd never heard of using sunken logs before."
"But I convinced them and now I've got every log I can salvage under contract."
And it's probably just as well, too.
Mr. Waggoner estimates the total cost of his equipment will amount to $250,000.
Court Levity Costs Student 30 Days
Minneapolis—(U.P.)-Judge Thomas. Bergin was "a little rough" on a flying student charged with flying below 1,000 feet in a congested area.
Bergin scolded Arden C. Magnuson for his carelessness and for smiling during the court proceedings.
"I believe I'll have to impress on you the seriousness of the offense," the judge said. "You'll have to pay for or serve 30 days in the workhouse."
"That's a little rough," Magnuson said. "You'll have to give me time to pay the fine."
"I don't have to give you anything," the judge said, and Magnuson was ushered into the workhouse bullpen.
Treasury Should Be Ample
Minneapolis,—(U.P.)—Motorists who overparked or committed other minor traffic violations contributed some $35,000 in fines to the Minneapolis city treasury in 1949.
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Bus and 1929 Stutz Tie UD Traffic
Somerville, Mass., (U.P.)-Drivers of a 1929 Stutz Bearcat and a municipal bus both refused to give the other the right of way on a turn.
For 20 minutes, as honking traffic backed up for blocks, the Stutz driver dusted his fenders while the bus driver filled out reports.
Police settled the issue by ordering the automobile driver to back up, drive home and get the license which he had forgotten.
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