To take advantage of Capital Gains laws, Jack Benny had formed his holdings into a corporation and sold it to CBS for Two-point-two-six Million dollars.

Benny opened the fall 1949 season by taking stock of his pantry. The October 2nd program got a rating of 20.3.

On election night, New York City Mayor William O’Dwyer, who’d succeeded Fiorello La Guardia, won reelection.

He was soon confronted with a police corruption scandal uncovered by Kings County DA, Miles McDonald. O'Dwyer would resign from office on August 31st, 1950.

President Truman appointed him U.S. Ambassador to Mexico. O’Dwyer would return to New York in 1951 to answer questions about his association with organized crime. He resigned as ambassador in 1952.