Facts & Figures

Weather Worries. Prices for corn futures broke all records on the 99-year-old Chicago Board of Trade. They reached $2.00 3/4 for July corn; the previous high was $1.99 1/8, set in 1919. The jump was caused by a forecast of subnormal temperatures for the corn states, already suffering from a cold, wet spring that delayed planting. The Department of Agriculture, calmer than corn speculators, still expects a big corn crop, exceeding three billion bushels.

Profits Up. The Department of Commerce reported that corporation profits, after taxes, reached $12 1/2 billion in 1946, an alltime high, and $2 billion above the previous high in 1943. But profits before taxes set no record. They reached $21.1 billion, about $3.5 billion below 1943.

Light Pound. The Newpacot Corp., exporters, advertised in the Wall Street Journal for anyone "interested in purchasing -L-67,500 blocked sterling in London at a big discount." President C. Y. Wang, up against the international dollar shortage, explained that the "big discount" was "10% or more" on the official rate of $4.03. The New York price for sterling notes is $3.20 but an individual can only take -L-20 into England.

Housing Cheer. The number of new homes started during April showed a substantial increase over any of the first three months of the year, the Bureau of Labor Statistics announced. The total was 68,700 permanent housing units; that was 1,700 above April 1946, almost 18% above last March. The preliminary estimate for May: 69,000 units.

No Silver Lining. Foreign silver in New York dropped 5-c- an ounce, bringing the price down to 59 3/4-c-, lowest since September 1945. Yet the U.S. Treasury, thanks to the Senate's Silver Bloc, must buy up all newly mined silver offered by U.S. mines at 90.5-c- an ounce. Taxpayers take the loss.

Bearing Up. The short interest on the New York Stock Exchange jumped 226,102 shares between May 15 and June 17, reaching 1,540,493 shares, biggest total since November 15, 1945. But the market continued to edge up. For the week, the Dow-Jones industrial averages were up 1.60 points to 176.44.

Soap Down. Soap manufacturers, who cut wholesale prices 10% only two months ago, announced new reductions. Procter & Gamble Co.'s cut averaged 5%, Colgate-Palmolive-Peet Co.'s 8%, Lever Bros. Co.'s 5%. Reason: declines in prices of oils and fats.

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