This is the final first-run Golden Age short In which Wile E Coyote speaks.
The sound effect in the background when all the metal objects are drawn to the magnet is the old civil defense siren. At the time this cartoon was made, the Cold War was in full swing. These sirens were tested once every month, usually on a Friday morning, and school children then participated in "drop drills" in the classroom.
Coyote speaks in this short, as he usually does in non Roadrunner episodes.
Wile E. Coyote breaks the fourth wall here a few times with his usual aplomb. You can tell Mel.Blanc was really enjoying this episode.
Several Sputnik like space spheres are attracted to Coyote's magnet, as well as rockets and a rather large ICBM. It was the dawn of the space race as well as the height of the cold war.