Fifteen Per Cent Price Rise Predicted for 1948 A STAFF LEO CHERNE, executive secretary of the Research Institute of America, was the main speaker at a luncheon meeting of t h e New York Paint, Varnish, and Lacquer Association in the Grand Ballroom of New York's Hotel Pennsylvania on J a n u a r y 9. Mr. Cherne, well known as a forecaster of economic a n d political trends in America, spoke on the general outlook for the year lt)4S in business, politics, and international circles, l i e was
REPORT
there would be no period of contagious strikes in the immediate future. The speaker closed his legislative predictions by s a y i n g t h a t a modification of the Marshall P l a n will probably pass Congress but a t a figure about one billion dollars less than t h a t called for b y the Administration. Mr. Cherne believed t h a t 194S will see the British Labour government making more successful strides in handling the internal problems of that country. This, he claims, will work to t h e advantage of the U n i t e d States because of the increased
ability of the British to take p a r t in worldwide commitments. In France, the situation is less certain but present indications are t h a t it is more favorable to the United States than previously. Italy, Mr. Cherne said, presents t h e cloudiest picture of all, complete paralysis having set in. Although that country will probably not be lost to the Soviet cam}), (here is little likelihood of it coming over to our side. The present Greek government will continue to stand, t h e speaker affirmed, if American assistance continues.
!. Whitaker Honored
Leo Cher no, executive the Research Institute
secretary of of Atnerica
introduced to t h e meeting by Gustave Klinkenstein, president of the New York Paint, Varnish, a n d Lacquer Association. M r . Cherne prefaced his remarks by saying that since 194S will be t h e year of a national election many ordinarily predictable trends will be distorted by political interest a n d considerations. This, he claimed, makes accurate forecasting extremely difficult. There is no doubt, he continued, t h a t t h e election will be in the opinion of most t h e most singly important factor affecting t h e entire scene of business activities. Also playing extremely vital roles will be prices and wages, all dependent upon the action of Congress. M r . Cherne believed it entirely probable that wholesale prices will rise 1 5 % and reta^ prices 1 0 % during 194S. T h e speaker declared t h a t although both major parties have expressed intentions to lower taxes, it is possible that a stalemate m a y develop over the means t o do this and as a result no t a x revision m a y be forthcoming. T h e introduction of a bill by Republicans to establish a higher minim u m wage was also foreseen b y Mr. Cherne. Similarly, he predicted t h a t 168
A K I B U T E was paid recently to Milton C. W h i t a k e r for t h e part he played in developing the Stamford Research Laboratories of the American Cyanamid Co. He was vice president a n d director in charge of research and development from 1930 until h i s retirement on Dec. 3 1 , 1946, and was largely responsible for the centralized research program of the company a n d for the organization of facilities a n d personnel at S t a m f o r d where now 4S5 technically trained men a n d women comprise more t h a n half of the t o t a l stafl. Dr. Whitaker, also well remembered as t h e second editor of Ijiduslrial and Engineering Chemistry, is still active as a consultant on the c o m p a n y ' s technical activities. D u r i n g World W a r I, while with U. S. I n d u s t r i a l Alcohol Co., Dr. Whitaker rendered distinguished service by supervising t h e design a n d erection of a n urgently needed acetone manufacturing plant i n a very limited time. Later he Officials of rnan.fi, Dr. Standing. ardz E. II.
the American Cyanamid Co. tvho tvere present. Sea fer/. L. J. Christ' Whitaker, R. C. Stvain, R. li. Barnes, S. J. Swainson, W. I*~ Pennoyer. William Engs, W. II. Harding, Carl Ilaner, E. J. Culmann. i\. A. ShepNor they, C. B. Clark, A. S. Fromholz, J. T. Thurston, C. Is. Kennedy
/^*\
PPI;
became president of U. S. Industrial Chemical Co., an outgrowth of U. S. Industrial Alcohol Co. In L923 he was awarded the Perkin Medal for his industrial, educational, and editorial achievements. T h e form of t h e honorarium was a book specially prepared by Stamford staff members containing t h e signatures of nearly 900 members of t h e staff and over 80 pictures of personalities a n d scenes a t Stamford. I t tells t h e growth of the laboratories, t h e fundamental research philosophy which has guided t h e m , and the Stamford-developed products which have justified management's investment. Several Stamford developments have been incorporated into t h e material of the book. I t is hand-bound in white leather tanned with C y a n a m i d ' s T a n a k resin, t h e paper contains Parez resin, a n d the ink was formulated b}r Stamford chemists using a Calco pigment.
"*·>, · : '.
jsF\
i?-·.
WÏÏ ï-Sv**" /' "*- V*-''
CHEMICAL
Ή'# 0 : :φ\ \
AND
ENGINEERING
NEWS
