Business: TIME CLOCK, may 31, 1954

AUTO SALES have dipped sharply in May despite predictions of a warm-weather pickup, but production still shows no signs of slowing down. New-car sales for the first ten days totaled only 140,000 units, down 11% from April and 20% below 1953. Dealer stocks of unsold new cars have now reached 660,000 units, almost 50% higher than a year ago.

CIGARETTE SMOKING is still dropping, and tobacco men have cut production to keep level with sales. The Bureau of Internal Revenue, which uses its tax on manufacturers' shipments as a rough guide, reports that first-quarter production was down 10% (to 96.6 billion cigarettes)...

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