Less Cash. In the first quarter of 1948, according to SEC, privately held liquid assets (cash and bank accounts) fell off $4 billion, the first such decline since 1942. Meanwhile there was a $2.5 billion increase in securities holdings.
Up in the Air. In its five-months-old dicker with the striking Air Lines Pilots Association and International Association of Machinists (original cause: the firing of a pilot), National Airlines, Inc. showed "immaturity and lack of responsibility," said a presidential emergency fact-finding board. It recommended the immediate rehiring of the 445 striking employees.
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