Economic Outlook br 1952

N{ar.rville, N. J., Februarv 18-Tl-re economic outlook i.rr 1952 shoulcl follorv mrrch the sar.ne pattern as that for 19.51 u'herr pot'erfu1 inflationarr- forces tvere offset by the vast producing capacitl' of the country and hear.y saving by the lxrblic. L. X4. Cassidr-, chairmar.r of the board of JohnsN{lrnlille Corporation said todal'.

NIr. Cassidy, .lr.ith other companv executives, spoke at the opening of a training course for nearly 100 JohnsManville sales trainees helcl at the company's Research Cerrter here. The sales trainecs came from the Unitecl States anrl Carracla and from l-ondon ancl Tokyo.

"There l'ili still exist a strong gronnclsu-ell of inflation in 1952 because the rate of spending for clefense and foreign aid rvill increase this year," NIr. Classid,l. said. "This r-ear insteacl oI being essentiallr' a 'tooling rr1'r' period, defense goods n'ill porrr irom lrlarrts and bulging pavrolls rr-i11 clamor for civilian goods or-r l'hich to spend them.

"The hard core of rearmament-inflation lies in the billions of clollars of u'ages, salaries arrd profits paid out for the nrakin{. of cleferrse goods. These goods are not a\-ail:rble ior the civilian tnarkct. They c:rnnot absorb the buyirrg lton'er generatecl lry their production. Tn other t.orcls. the clcfense t.orker cannot buv the pl:ine or tank rvith the llrone\- he got for rnaking thcm. This monev t.ill. therefore, chase ancl compete for thc consumer goocls on the market, tending to lroost prices.

"But, as in 1951. orlr trenrcndous capacitr- to produce consumer goods acts lrs a pon erfrrl br:Lke on prices. This r-ear. hou'ever. there n'ill be less consunler hard goods produced than l:rst t-eltr. mainlv because of the short:tges in metals. Thcre l-ill be feu.er autorlobilcs. houses. refrigerators, and other products requiring metals.

"Thesc basic economic factors u'ill affect inclustry in varf ing rlegrees. Fronr an civer-:rll yisll.poirrt it appears that -lohns-Nlanvillc's sales r-olrrme rr'il1 continue to be high for the tluration of thc dcfcnsc econ()mv. Practicallr- er-errltroclrrct -f ohns-Xlanr,ille trrrns out in its tu-enty plants arrd threc rnines is csseutial for nrilitarrr rlse or for nccessarrcir.ilian recluirements. In this respect the companv is fortunalc because it has no problcm of convcrtine its production facilities for defense."

\{r. Cassi<1r,' urged thc sules tr:rir-rccs to rler-elo1> the homc moderrriz:rtior-t arrrl nt:tintenlLnce markct for ltrrilding .prorlucts t() ofiset thc restrictions in nerrr hontc corrstruction.

Flc cautionerl tl're saiesmen in training that there u'oulcl be "itn even grcater need for a verv aggressive sales effort aftel the defense program has run its course" if the com1t;rrry is to keep p;rce lvith its prr-rcluctiYe calracit-v.

The sales tr:rinees, u'ho n-ill spend from six to eight u'eeks :rt the Johns-Manville ltese:rrch Center and the companv's plar.rt nearbl', u'ill studv the tlevelopment of companv products throrrgh the research, pilot plant and conrmercial ltroduction phases. -A.ctual flelrl instruction in installation techrriqrres ancl application of Johns-\lanr-ille proclucts u'il1 alscr be a part oi the course.

\(/illiam R. G.rnett Assumes Management of Salet

Corvdon \\-agner, r'ice presirlerrt oi St. Paul & Tltcoma Lttmlrer Companv, T:rcom:r. \\-:rsh., ir'unounces that effectir-e \Iarch 1.1952, \\rilliam R. Garrrett assume(l the nran;tqemcrlt of salcs. \tirrccnt 13esirrilue is ussistarrt manager lr,r plr.u-oo<I, ancl NIrs. N alrlc -forres, assistant managcr for lutnbcr. Corvdon \\ragner III lrnd lfarr_r. Nl.land conrpletc thc staff at the ger.rer:rl sales office in Tacoma.

lrr his letter, X'{r. \\':rgrrer savs: "Xlarch 1, 1952, becomes son.rcthing of a milestone in St. J'aul & Tacoma Lun.rlter f-onrP:ttry affairs, as Arrclv Landram then u.ill excrcise his prcrogatir-e t() easc up a bit and u'ill relincluish the active dilccti,,rr r,I otrr s;tics organiz:Ltiort.

"\\-e hope and cxpect that he u'il1 tlaintain close contact u'ith the sales force ancl gencral cr.,rnparry matters so that \ve mav continue to clrlrn' on his fertile mincl for rreu' icleas ar.rd guicl:rnce.

"lrverr such:L slight chunge in a long and hltppv:rssocirrtiorr ltrirrgs s()me regret, ltut in this c:rse, n'ith ncarlv iort,r' r'ears on the rccord book. the regret is t'c1l ltlenderl n'ith priclc ancl satisiactiorr irr the accomplishnrents rvhich hrLle markccl Anrly's carccr, anrl rvhich har-e left an irrrlelilrlc impression orr thc conrpar-rr''s history."

'fhe san.re painting procc<lrrre and kind of paint are suitalrlc for painting trll n:ttive soits-oods and the native harrlu'oocls that har-c relatir.elv small vessels (pores). T{ardu,oods n.ith relatir-elv largc vesscls recluire a rvood filler lrcfore p:rinting or varnishing.