Decatur Daily Democrat, Volume 35, Number 302, Decatur, Adams County, 23 December 1937 — Page 4

PAGE FOUR

DECATUR DAILY DEMOCRAT Published Every Evening Except Sunday by THE DECATUR DEMOCRAT CO. Entered at the Decatur, Ind. Post Office as Second Class Matter J. H. Heller.„ President g. R. Holthouse, Sec y. & Bus. Mgr. DiUt D. Heller Vice-President Subscription Rates: Single copies 1 02 Due week, by carrier .10 One year, by carrier _. 5.00 One month, by mail .35 Three months, by mall _____ 1.00 Six months, by mail —1.75 One year, by mail 3.00 One year, at office 3.00 Prices quoted are within a radius of 100 miles- Elsewhere $3.50 one year. Advertising Rates made known on Application. National Adver. Representative SCHEERER & CO. 15 Lexington Avenue, New York 35 East Wacker Drive, Chicago Charter Member of The Indiana League of Home Dailies. Just a week in which to get, your 1938 license if you expect to drive the old bus around. Better hurry. Congress is over for a couple of weeks but the same old problems ; will be bobbing up when they meeti in January. We join the many business firms | of this community in extending to you and all of you, the Very Merriest Christinas you ever had; and we do mean you. The senate passed the housing bill. 66 to 4, near enough unanimous to indicate that the special writers who insist the bill is not what it should be, must have appealed to Democrats and Republicans as ones that would helpThe Good Fellows are distributing gifts to the poor children of the community, thanks to the many who contributed to this movement, sponsored by the Delta Theta Tau and supported by neary every organization aud many individuals in the city, it will bring happiness to many. Twenty years ago this nation was getting into the midst of the World War. making it rather difficult to sing "Peace ou earth, good will to man." Those were serious days from which we have never fully recovered. How much happier we all should be this year, with peace and prosperity and happiness ours, if we want it. The Daily Democrat is only three dollars a year by mail, any where in the county, and we would be pleased to send it to every resident the next year. We will give you the news of the county, state and nation and the coming years with its elections, wars, labor problems, congress, every day happenings, sports and other events will interest you. The special committee which is to work out a reason for the existence of the G. O. P. will probably have an enthusiastic first meeting, while every one is getting something off his chest. Then will come the tug of actually agreeing on some policy that will improve conditions. Usually these things start off well but fizzle out. It’s so easy to criticize and so difficult to construct. Those of us who thought we had been having winter the past couple of months now discover that it officially started ouly this week some time between the twenty-first and the twenty-second. Along with it came the shortest day of the year and we are now right in the period when we have the longest nights. But keep smiling, for the next season will be spring with all its showers aud flowers and budding. The nomination of Judge Walter E. Treanor as a justice of the Federal circuit court of appeals at Chicago, has been confirmed by

I the senate and he will assume his new duties in January. As a mem- ' ber of the Indiana supreme court he has made good and his opto- i I ions have been regarded as prej cedents worth while now and for 1 the future. His host of Hoosier friends are genuinely happy over . his selection and wish him well. ; « ■| Frank B. Kellogg. Minnesota I lawyer and jurist who became am- 5 I bassador to Great Britain, served ' as secretary of state and held , numerous other important posts, 1 was a great man. He believed in and constantly fought for peace of 1 the world. A kindly man of wond- , erful attainments, he deserved the , success he had in life and will be long remembered by the citizens | of the United States as one of the * best. z The New Year approaches and we read predictions, guesses and prophecies each day, some optim ! I istic aud some just the opposite. It will be just as good as we, the i ■ people of America make it. Os course there will be those who will insist it can’t be any thing but! I bad but they are the politicians j who would say or do most any thing to prevent the Roosevelt ad- ' ministration getting credit. The j I rank and file of people should real-1 i ize that what they say and do will | have much effect on the general; 1 business of America. Let’s be honest and helpful and happier. ( SSSS9 Heard a fellow cursing the PresiI dent because times are not as good as he would like to see them, but after all that’s hardly fair. The president has tried to help candi-; lions and we think has. He will continue to do so and after all he is only one of the 125.000,000 citizens of the United States. To get I things done he has to secure approval of Congress, usually a next to impossible job so that about every thing ’ suggested comes through as a compromise. We feel that Mr. Roosevelt has done i a wonderful job and that he deserves praise rather than condetn- , nation from the public. Sincere sorrow is felt by many.i here because of the death of Mrs. Emma Daniels Davis of Washington. D. C- She came here years ago as the wife of Dr. Daniel, pas- ; tor of the Methodist church and ; following his death in 1907 continued a resident here. Active in . church work and a business woman of unusual ability she was known ! . by many and admired and loved by those who knew her best. During the past fifteen years, or more she has resided in Washington. D. C. She will be remembered here as a splendid woman of rare , 1 ability, as a speaker and an organ- ‘ ■ izer, who did wonderful things for : several decades for her church and II for civic movements. - Robert Louis Stevenson once I i said that we live not by bread alone but principally by catchwords. It does seem true that in ' > our time we are making certain I ■ words and phrases carry more weight than is gc“'d for them. Con- , sider the word combination: “bus- ■ iness and labor." Almost daily we I hear this phrase used as it to' ; love one were to hate the other. ■ We often hear about public officials II "leaning toward labor” or “making > overtures to business.” Most of I us know what is generally meant, by these phrases, yet to many they , tend to set up an antagonism that i ‘ does not really exist. One need not I ' think very deeply to understand ‘ j that the interests of laltor and ‘/business —that is to say, the em- ’ ployer—are Identical; that in the 1 long run their interests do coincide because they are both parts ', of the same body politic. What hurts one hurts the other; what ' ’ is good for One is also good for 1 the other. We need to be wary ' of such abst rat ions that set up i friction between these common interests, lest the phrase turn into | a battle cry- ’ ■ 0 LI , I Belt, Suspenders, make useful gifts. Vance & Linn. 299-4t|

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Indiana Business Outlook As Seen By University Experts (Editor’s Note: This is the first of a series of articles on the outlook for various lines of Indiana business during the new year. The series is presented with the cooperation of faculty members of the Indiana University Bureau of Business Research and the School of Business Administration.) REVIEW AND FORECAST OF INDIANA BUSINESS Ry George W. Steiner. Assistant Director. Indiana University Bureau of Business Research ————————

From the data presented in this series of articles a year ago it was' evident that the recovery move-i ment which at that time was go-1 Ire forward at an accelerating rate, was making greater headway I in Indiana than in the nation as | a whole. A resume of business, for 1937 shows that while the course of business has been irregularly downward for some months. I J tSe decline has not reached the proportions in Indiana that it has in many sections of the country. As a matter of fact, the level of business in the state has been above the national average for most of the year. There are many reasons why businss in the state should have been above the national level, and several reasons seem significant j i enough to warrant emphasis. In-j 1 dustry in the state is well diversified; the state has a reasonable balance between agriculture and ■ industry; labor conditions through the year have been more stable in Indiana than in many states; and the state has benefited from the current trend of decentralisation in , industry. ► Although it is impracticable to evaluate independently the import-j ance of each of the above factors: in the business picture of the year, from a more or less cursory an-J alysis, it appears that Indiana business has benefited substantially I from industrial decentralization. New corporation charters for the i year show unsteady migration to I the state, and little or no industrial emigration. Moreover, industrial < growth through the acquisition of. branch plants probably has been larger than that indicated by new ! corporation charters, since in some instances the establishment of a branch in Indiana has not involved the entrance of a new. corporation. Business Index Lower Each month during the year the I I Bureau of Business Research has published an index of business ' conditions in the state. A review of fUcse monthly indexes, indicating the progress of business throughout the year, may not be amiss at this point. The index which has for its base of 100 the average for the years 1931-35, began the year at 125 in January, rose to 130 in March, and then declined to 118 tn November. December data are not yet complete, but it seems likely that the index will end the calendar year some twenty points under 1936. A breakdown of the bureau’s in-, dex into its component parts shows that no single factor was responsible for its decline. Practically ail the major parts of the index were lower near the end of the current year than at the close of 1936. Building, department store sales, electricity production, cattle- ! sales and bank debits showed only i minor variations in comparison i with a year ago. Automobile produetion, automobile sales, coal pro- ,' ductiou, pig iron output and stone : | production lost considerable ground

DECATUR DAILY DEMOCRAT THURSDAY, DECEMBER 23, 1937.

: during the year. An examination of the trends of i the various industries hi Indiana J for which the bureau has data shows that the behavior of busi iness in the state in 1937 was in | marked contrast with that of 1936, even though the declines for the past year as a whole were not ' significant for some of our import- | aut activities. In 1936 practically I all of the bureau’s indexes advanc;ed steadily throughout the year, i and nearly every business finished ’ the year at a considerably higher rate of activity than prevailed at the beginning of the year. Also, | nearly every business rose with only minor fluctuation. In 1937 most lines of business I moved sidewise; some making j gains, and other losses. Likewise, I nearly every business recorded in the bureau changed direction several times during the year. All in all. as 1937 drew to a close it became increasingly difficult to forecast the trend of business for any considerable period. Although the stability of Indiana's economics organization undoubtedly cushioned somewhat the impact of the forces which this year halted, at least I temporarily, the recovery move-' 1’ inent generated in 1936. the causes' of the present recession were too universal not to affect business in Indiana. Yet, if the events ot the ■ past year are indicative of anything. it appears probable that recovery when it again gets under way may move forward more rapidly in Indiana than in many of I the industrial states. i In view of the many conflicting and often superficial analyses of the causes of the current decline which have already appeared in the press, it seems desirable to examine some of the fundamental, economic conditions which have' i existed at different times in the ; j past year a’ud a half. It is true that much forward buy- : ing and inventory accumulation 1 took place during the last quarter j of 1936 and the first quarter of, 1937. Commodity prices also ad-| vanced nearly 25 per cent during! the two quarters. Business was caught in a spiral of price rises and buying which characterize periods of rapid business expansion. Prices rose because of increased buying, and buying increased because prices were rising. But back of all this activity were definite causes operating upon the price structure. The Fedi eral government on a cash basis, in 1936 has expended something 1 over two billiom dollars in excess l of its receipts. The soldier’s bonus was part of this expenditure. The major portion of the deficit of the government was expended for consumer goods Retailers, wholesal- ! ers and producers built up inven- ■ torles because of the increased con- ■ sumer demand, and in anticipation of higher production costs and ini terruptions to production brought' »bout by labor difficulties iu 1937 Labor Costs Increased I ‘By the end of the first quarter

of 1937, the effect upon buying ot the deficit of the previous year had largely spent itself; the treas--1 ury began to reduce the gap between cash expenditures and cash ; receipts, and the higher costs had 1 arrived. According to the National Industrial Conference Board, labor costs per unit ot output rose 20 per cent between July, 1936, and July, 1937, while production 1 per man hour actually decreased- . The result of these conditions was ; a drop in consumer demand. But even as late as early sum- : mer there was, in the opinion of many observers, still one bright spot in the economic picture; farm buying power would be large. Current farm prices were high, and crop conditions were excellent. With the approach of the harvest season, farm commodity prices declined. and farm purchasing power had to be revised downward. Raw material prices declined, and some producers, wholesalers, and some retailers discovered that thejr inventories were excessive, and production dropped at an accelerating rate. | We are now using up the excessive inventories. Recently most ■ prices have either decreased their rate of decline, or have remained stationary. It is fortunate that speculation activity was not carried on over a more extended period. and that manufacturers have been prompt in curtailing their production to prevent further piling up of goods. These fails would seem to indicate that inventories are being drawn down to more normal levels, and suggests that economic conditions may warrant an upturn in production in the first quarter of 1938. In the coming year, as in 1936 and 1937, Indiana should be among the first to feel the upturn of industrial activity. (Tomorrow Prof. H. C. Sauvaln, director of the I. U. Investment Research Bureau and Associate Professor of Finance, will discuss the 1 banking situation in Indiana.) o

< Answers To Test Questions Below are the answers to the Test Questions printed on Page Two ♦ ♦ 1. In the Bering strait. I 2. A pen-name. 3. University of Heidelberg. i 4. A short preface or introduction to a more extensive movement or * composition. 5. An hereditary constitutional disease, clisracterbed by a tendlency to uncontrollable b'eeding from slight wounds. 6. Utah. 7. "Out of the Blue.” 8. Sir Henry Rider Haggard. 9. Biscayne Bay, 10. 1940. o Beer Popular In Canada Ottawa. Ont.— (U.R> —Canadians 1 are fond of beer. During the 12 1 months ending last October, 63,459,455 gallons of beer were brewed. •last Ml P I, „

I homaa Tmjlor THERE was not to be any Christmas tree at the little church at the head of Smoke Creek that year; and of the several families who lived there, not more than half were expecting Santa Claus. The dark days had left the dismal little valley or hollow even more gloomy than it had been in better years, when the mines across the ridge in the next hollow gave some employment to the heads of the families of Smoke Creek. Jim Knox, who lived at the very head of the stream, was perhaps the most unhappy of all in the 7\jte3MN cVI Sa* . He Noticed Something Like a Card Tacked on Hathway’s Door. little “settlement.” His wife and only child, a son of seven, had died, and his nearest neighbor was Joe Hathway, a bitter enemy with whom he had had many difficulties. So that lonely night of Christmas eve as Jim sat before the open wood fire, with the light of blazing hickory logs his only company, he was not without fear for his own safety—he knew Joe Hathway had threatened his life. As he sat dreaming his eyes happened to rest upon his rifle standing in the corner of the log room. ‘‘That gun or Joe Hathway’s will some day tell the tale," he said to himself. He meant that one day, like so many others down the lonesome stream, either he or Joe would go —and using a common mountain expression. "with his boots on.” He did not care much if it should be himself; life had come to mean but little for him. While Jim Was thus dreaming. Joe Hathway sat in another log cabin but a few yards down the stream. By chance Joe’s attention was called to a book on a shelf. The school teacher had given it to his daughter who had died from the epidemic on the creek. The title appealed to him—" The Christmas Carol.” He took the book and began to read. Page after page and chapter after chapter, he read on. It was the first book Joe had ever read. It filled him with new visions and new ways of thinking. He read on till midnight and had been so impressed that he decided to read a chapter from the Bible before going to bed. By mere accident the chapter was one on the birth at Bethlehem. Its teaching overpowered him —he had found the more abundant life. • • • On Christmas morning when Jim Knox went out to the spring for a pail of water he noticed something like a card tacked on Joe Hath-w-ay’s door. He saw no smoke from the chimney. Taking in the water, cautiously he approached Joe’s cabin door, and read the note which said; "Dear Jim: You will find me gone. I was reading some last night in The Christmas Carol’ and in the Bible. I read that verse that told of peace and good will to man. Said to myself, ’My family is all gone—the last was Mary. She left the book to get me on the right track. There’s nothing in this hollow for me any more. Maybe I can find work by New Year’s over on Cedar Creek.' You and I never could get along. So to make things better for us both hereafter I am leaving at daybreak. And Jim as I say ‘Good-bye,’ I also wish to say, ‘Peace on earth good will to men.’ ” And as another result of “The Christmas Carol” two mountaineers were better men and though they had no Christmas cards or presents, and no holiday programs, the pines on the hillsides seemed a bit greener and the music of the streams seemed sweeter. Western N»w«n«n*r Union ■ 7 ■ ■ V LJ ST ' TL

Quizzed in Party . A A. r ■ O. X* z Mi, ■ |> Jacob Zelkind (left) and Morris Engargola of Ne» V Pittsburgh police headquarters where they wmZlthe death of Rose Ault. 29. divorcee, whose nude hotel room. 5 uMij

♦ — ■— « Household Scrapbook | By Roberta Lee Relieving Burns Scaids or burns may be effectively relieved by applying a -poultice of oatmeal and cold water. The cooling qualities of the oatmeal tend to draw the fire from the burn. Gloves Chamois and doeskin gloves should always be washed in soapy water and dried where the heat is not intense, if you wish to keep them in good condition. To Crack Nuts If nuts are heated before cracking, they may be removed from the shells almost whole. o X-Act-Fit Shirts—the ideal gift. Vance & Linn 299-4 t

Dolls! Dollsll Even Doll in our stock« selling at i 10% OFF I Manx styles to choose tai Don't miss this opportum We stiil have a good seteM of Toy sos all kinds. I Niblick & Ct Drastic Reductiom ON OUR ENTIRE STOCK Coats ||| All high grade, all " 1,1,1 I -jSTR-Jk coats, some fur trimmed. some untrimmed. Many reduced as much as 4 1 HEjkß greatest savings in years prices range from gffij $ 11.95 14-95 F | 17.5019.95 24-’5 ' ||| CHILDREN’S COATS ,V ' now selling as low as J| $3-75 t . $7-50 % Close-Oul of DRE® WONDERFUL SELEI IK* ' $2-98 s3’’ 8 Niblick

Creditors Nameiin, St. Louis. — (IIP- . I creditors were , -'"irteous toward hiir £ a steamship ticket . | Oct 28, named them tU ticiaries in his will tie!,. ' court here. ’ . ; ——— ■ X mi, rophone for | been invented that is i;ri _ 1 ! the throat muscles auj „ interfering noises like M 1 ■ plane motors.

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