Galveston Isle, Volume 2, Number 1, July 1948 Page: 2
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By JIMMY DURANTE
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JULY, 1948
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A BUSINESS^
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Texas business hit a new postwar high in May
when the composite index of business prepared by
the University of Texas Bureau of Business Re-
search rose 1 per cent to 217 per cent of the prewar
(1935-39) period.
Although the rise was not reflected in all the com-
ponents of the index, four increased while only two
declined to the lowest point this year. Miscellaneous
freight carloadings dropped 8 per cent from April,
bringing the index to 149, while department and
apparel stores sales fell 7 per cent to 329. Since
miscellaneous freight carloadings are considered a
measure of the changes in distribution of goods, it
appears that the only decline in the Texas business
situation occurred in trade.
On the other hand, payrolls rose 7 per cent to
carry the index up to 262, another new high since
the end of the war. Employment eased upward frac-
tionally to a new high for 1948, but at 124 the index
was below the December high of 125. Electric
power consumption rose 4 per cent to 326, only
fractionally below the 1948 high in February. Crude
runs to stills rose 2 per cent to establish a new rec-
ord for the index, but in the face of the great
demand for gasoline, this rise probably reflects this
specific demand and supply situation more than it
does the general business situation.
The situation in Texas business agrees in general
with the trend in business in the rest of the country.
For the country as a whole the Office of Business
Economics of the Department of Commerce re-
ported that the developments in May and early
June re-established for the time being, at least, the
greater strength of demand factors relative to those
governing supply. As a result of these develop-
ments. consumer purchasing and construction in-
creased. and commodity markets registered further
general advances in prices.
The level of the composite index of Texas busi-
ness in May was 16 per cent above a year earlier,
as all components made moderate to substantial
gains.
. _
Writin columns aint my racket ... so the first
day I started puttin this literary effort of mine on
paper, I hired a secretary but it didnt work out
. . . Y’see I’ve got water on my knee and she kept
floatin away! It was cheaper let'n her go than
buyin an anchor! Determined to carry on, I
thumbed through some movie magazines, hopin I
could get a few ideas . . . but them articles left me
uninspired. There was one story about Van John-
son, entitled “If You Were One of Van Johnson’s
Freckles Would Yo Tell?” Another story was en-
titled “How An Average Hollywood Family Gets
Along on Four Thousand Dollars a Week!” There
was nothin left to do, but call upon my intelect.
which in my case was quite a hazardous under-
taking. Although my education was limited . . .
When I was in the fourth grade, I was the most
advanced student in the class . . . While the other
kids, were only nine ... I was already fourteen!
So proceedin as planned I inserted a sheet of
paper in a Remington which I borrowed from Mr.
Rand (You see Mr. Remington doesnt own a type-
writer he’s the noiseless partner) I started to peck
away at the keys with my nose. I always type
with my nose ... I have very delicate cuticles . . .
I was born at a very early age, of very poor
parents. In fact my parents were so poor they
couldnt afford to have me ... So my neighbors
had me!
It was my mother who discovered my nose.
Mother looked at it for awhile, then turned to my
father and said. “Call the doctor and tell him the-e
has been a terrible mistake. They have taken the
baby and left the stork.”
I was brought up on the lower East Side of New
York . . . What a tough neighborhood. When I
went to school we didnt have a principal . . . We
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Maceo, Sam & Llewellyn, Edwin E. Galveston Isle, Volume 2, Number 1, July 1948, periodical, July 1948; Galveston, Texas. (https://texashistory.unt.edu/ark:/67531/metapth1427487/m1/4/?rotate=270: accessed July 16, 2024), University of North Texas Libraries, The Portal to Texas History, https://texashistory.unt.edu.; crediting Rosenberg Library.