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LABOR SHORTAGE is pinching industry. Business is so good that the Labor Department lists only 19 labor surplus areas (e.g., Philadelphia, Fall River, Mass.) around the U.S., the lowest number since 1953. In Chicago, Los Angeles and half a dozen other cities, good jobs in such industries as shipbuilding, aircraft and farm machinery are going begging.

STOCK-SPLITTING WAVE is rolling higher. Montgomery Ward proposes a 2-for-1 of its 6,502,378 shares (now selling around $100), will also boost its quarterly dividend from 75¢ to $1 on present shares, and hand out a year-end extra...

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