STATE OF BUSINESS: Facts & Figures, Oct. 11, 1948

Cheaper. It looked as if the cost of food—the biggest component of the cost of living—was finally heading down. In its mid-September index of crop and livestock prices, the Department of Agriculture reported a three-point drop to 290 (1909-14 average: 100), the second drop in two months. The Journal of Commerce's wholesale food index also dropped half a point.

Prosperous Pennsy. The Pennsylvania Railroad Co., which had to dip into reserves last April to pay a 50¢ dividend, was doing well enough by the end of August to pay another 50¢ out of...

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