Facts & Figures, Feb. 23, 1948

Nipped. Personal income reached an alltime high of $197 billion last year, up $20 billion over 1946. But the upswing, said the Department of Commerce when it announced the figures, had been nipped by the commodity slump (see above). Commerce predicted a drop in income, especially among farmers, in the first part of this year.

Slapped. With used-car prices on late models still well above those of new cars, Oliver W. Wood, president of National Used Car Dealers Association, endeared himself to the Senate Banking and Currency Committee by proposing price controls...

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