When Lois is dictating a letter, she states the name, company, and street address of the addressee and then says the word "city". This was a quick way to avoid having to write the city and state in an address or return address. The recipient of the letter would know this meant that both sender and receiver were in the same city. On an envelope, the Post Office would know this meant the same city in which the letter was mailed. This practice became obsolete when Zip Codes were adopted in 1963 because "city" alone became insufficient information.
Andy says the closest he came to making a sale was a "pair of BVDs". "BVD" is a brand of men's underwear, but the term came to be used for any underwear. It's the initials of the three company founders: Bradley, Voorhees, and Day.
Andy is laying in bed reading Ballyhoo magazine, a satirical humor magazine published 1931-1939. Its format was similar to that used by MAD Magazine starting in the 1950s.