Indianapolis Times, Indianapolis, Marion County, 24 November 1936 — Page 14

rena

High Prices Do Not!

Bring Prosperity, Flynn Says.

the minds of business as a whole # childlike faith in the power of High prices to produce ‘prosperity #nd profits. Mr. Edward A. Filene (splored this. He said, it 1

present generation of merchants to which he belonged would' go down to their graves disgraced because in their time they had resolutely opposed the reduction of prices and had, in fact, used every device to ; persistty rently move prices to a higher level - and thus reduce the purchasing fiipower of the people. J ‘i+ The war produced a strange phessmomenon in our business. It di-

” s J]

R. the first time, being in business became simple, All the ag-

dzing labors of selling, of getting“ 800d prices, of making profits— .

+i generally the troubles of competi- : tion—were removed. Most produc-. . ers had but to make things and dump them upon a clamoring market. There was plenty of time for “golf and other amusements. Amer“Jean business said to itself that :* this was the thing it would like to have always. It was all the fruit : of nice, high prices. ~ “ Since the end of the war two - powerful forces have been warring

* against each other—the natural

and in fact unconquerable energy * of the economic system itself to * force prices down to a more normal level and the individual and or- ~ ganized effort of producers and [Bane to force them up or ~ keep them high. In such a fight, ~ of course, the producers and merchants must lose ultimately or be rescued only by inflation,

For the: last four years Mr."

Ro. jevelt’s administration has heen - committed tol the task of “getting \ prices up.” I do not doubt it is’ ‘ based on an honest aim to help * + business men. But, alas, it can not : help them save for a brief period.

" %{ can only ruin them in the end.

No group .of business men have - beeh more sold on the idea of continuously reducing prices than the motor makers. ” ” » O group has been more reso- . lutely devoted to getting prices up than the railroads. One & group has prospered and the other group has languished. 4 Of course, this in itself is proof “of nothing. But recently the rail- : roads were forced by the I. C. C. to rse their polcy==to reduce pasr fares. I quote from the of railroad men, Mr. Daniel

“Our ais show that for the first four months since the reduced fares went into effect . . . our fotal passenges revenue was appsoxitely 18 per cent above the same sonths the previous . year. The ber of passengers traveling on our trains showed an increase of “61 per cent, but the mileage which they traveled showed an increase « only 22 ‘per ‘cent. “It has been necessary to increase on passenger train miles during the period mentioned about 6 per cent, but the increase in average ‘passenger earnings of all passenger train miles, including the additional mileage, has been about 10.6 per cent.” What a recard—18 per cent rise in passenger revenue; 61 per cent rise in number of passengers, but. “only 6 per cent in train miles. And

this after 10 years’ continuous de='

cline in passenger traffic and revenues. This might be an excellent precedent for some other bedeviled industries who want the ovens ment to help them boost (Copyright, 1936, NEA Service, =

Fruits and Vegetables

(Quotations below subject to change, verage wholesale prices beg offered ers by local SoIRmission 4 eal0rs.) ts—Pears, Oregon 5: Se SI I ua, Selected: To.

NY. o-a Fiops, i 1 Grimes nes. 2% idl

diana Delicious, 2 I CO at hs A azad 4 ig mos. Mex 20¢: rv eT. eo, Californian Cranberri cks, 25-1b, box, $4.25,

retigerines.

AS, Ind. a A-pint crate crate,

PAGE 14

stantially over a year ago.

the first four the fiscal 1 iohich began July 1 the national debt increased $54, 000,000 as compared to $761,000,000 in the correspond« ing period last year and gross receipts Ingreaseu pg]

HOME BUILDING

—enBY JOHN T. FLYNN

aright, that the

Seym Trac T

HE JIo%. po Far

SEEN IN SURVEY

Opinion of Mortgage Group After Poll From 26 . Major Cities. Times Special 2

CHICAGO, Nov. 24—An ‘increase in the cost of home building in

H. Patterson, secrefary-treasurer of the Mortgage Bankers Association of America, as the result of a survey conducted among members of the association in 26 principal cities. Representing a geographical cross- | section of the country, survey revealed that 73 per cent of the menibers expect higher build-

creased building material costs and |Z 82 per cent look for higher labor costs next year, Mr. Patterson said.

“Results of the survey showed that

is about 13.1 per cent lower than at he all-time high. Costs are 16 per nt lower in the Southern states, 13 per cent lower in the Middlewest, 11 per. cent in the Far West and Mountain states and 125 per cent lower in the East,” he said.

Building Dollar Buys More “During the worst days of the de-

was criticised by some who contend-’ e that costs were too high and hence held up new. building.. It would seem from our survey that these costs are being brought more and more into line with the othe prices, or it may be just the reverse, thgt is, that other prices and income are moving. into line with building costs.”

course, is that the building dollar

Improvement in construction; design, engineering and building has been rapid in recent years and home builders get more for their money than ever before.”

Large Increase Not Expected

Replies -to the poll reflected & fairly general opinion that the rise in building costs next year would not be large.

“This, coupled with the greater value of the building dollar, our rising national income and the abundance of money available for real estate financing seems to indicate that the esent ‘buyers’ market’ for home builders will continue to improve,” Mr. Patterson pointed out; | The survey also showed that building material costs around 10 per cent lower than they did at the high and labor costs aroundg9 per cent.

Southern 8 tes

Local Securities

(By Indiandpolis Bona and Share. Corp. )

The following quotations do not r-pre-sent actual bids or offerings, but merely indicate the approximate market level based on buying and selling "Inquiries: or recent Sasmetipnd

ers Ind Tel TH) ae ‘61 ... H Tel & Tel Ft W ¥ 24s H Tel & Tel Ft W 6s '43 Indpls Railway Ine Bs '87 nterstate Tel & Tel 5l%s Koko ater -Works 6

S HE Water Works 5s '49.. mour er, Co bs "89. 3 98 vane 9 Indpls Water Co 3%s ith : STOCKS ABC Brewing Co ¢ Belt Railroad & st Yas Som.

Belt Railroad & S : 88% .

reeeeiBl 1S ptd 6s....90 1%

Terre Haute Elec Union Title Co

Investment Trusts (By 1 Thomas D. Sheerin & Bid”

vo. ae » oe

: LEE

oftands ©. $38 Chicago Grain Futures (By James BH. Hennett & Co.) Low. AM Close

Het

00ST INCREASE |—

1937 was predicted today by George |

a poll of the |

ing costs, 71 per cent anticipate in-|!

pression the construction industry |&y

“What the figures do not show, of | g

average | ¢

In both in-|N stances the Ereatest grep was in the | Reo

TAU Rig ask qk

S304

‘35 BRE oe

Sh 158

2 Egaligawe

TeX GO f Su Un plon, Corb d Al eohol. all Joche Prod 50

the average cost of building today |Lambert

peses

Equipments 4m Brake e. Am Car & ly. pi

Loco ; Gen Elec « 1 R R Big... 4 0 “iiave est. Air Br.... i Westingh * Elec 142 Foods— Am Sugar ...m. Bl Arm

our rmour 6% pid’ 8

Ww 8 buys more today than ever before. | oj

14% 454 in Crea nate Somm Inve Trst 86 TMmnsamerica .. 8 Household—

Col Pal Peet aes 18%

raham Mot.

udson

¥ofiebaker ve Yellow Le “es

. 44 Gre, hound Ne 167 Houdal ille ew. Su Motor Wheel . Stew Warner ... 19 Timken i rE L . ing Allis Chalmers : - 51% Am C : 2-123 Anchor Cap Burroughs Add: 30 J I Case 1 Conti

‘Owens Bottle a Rem Rand

ng sans Alaska Jun ..... 18

(Cy get 8

CO; ar \ als 5 Heals... oa 5: 8: | Ya

Coal!il 28% Sop a Ev

Amerada ........ 94% ssesvass SO vasser 19

sewane

Is Ho : ston (new).

eatrice ‘Creamy 26% ’s

gl a

154

a os

En ave : BP tae a :

Isl: poyeek

t Pet 8%

mt PE

= %

19 1% 1 tf

‘141

3 sev

Timken Pet Axle 2 % =

15 31% 29%

ta w» pal

Bese, mo > wp a aa

he woe

Landen

eR Sx

Ltd w

wpenacas |

BFE 3

i EINE

wpasy re

E wep. ge

5 : on

141

5% 4 25%

41 137%

29% 15 -

FREE

8SaS, S2 Nosy, ae

age ES5F

SE ai Ro

eo nee FS

oe op

8 ‘ ¥ d Tube .. Ys Libby McNeil i Libby. a

Fl : Noon Aluminum Co of America ... | Am Gas &

fet FERRE

Has fee ; Seveavtn

sssnensn

oh. --

FEE

«3 w -

sy we

wpe:

SIUIT BEF

1D & TAR CR

: Hn a

te G3 i

A ar 90% 88

Chisago, Baty

(By Atkins, Hamill & Gates)

Noon. Allied Produc ves Asbest: s Manutdctiring | Jor rgho era ve

Western Union is

oe Close,

bo Gities Service eave Commonwealth’ Edison . hh or

Nov. mn 8. 19, 20. 21. 23.

sass bessnse

vesssre BT

42 9 20 11 *9 27 35

Lincoln Printi Marsha X . dest Poy PER. vas ensass Nobiitt Barks se . Northwes! 8 Siendard Dredge pid. wassnvave Sunds Pomith Woodall

New York Curb.

(By, Atkins, Hamill & Gates)

i i ‘22 12 1

American Cynamid “B”

Am Buperpow ve kana aturai Gas “AY ve Atlas Cor Bower Holler Satine Cooper Bess Canadian Indus Carrier Core, Creole Pet

SS Boss Lhe 3

BID fcr

es a OBO EO bt SW

“A * e Corp: .

Gu Humble Oil °% Refining Co Rygtade Rood

“ew

¥ = L258

) Nig or Hudson Power

Mueller Bras Pan-American Airways Penroad Corp °

IR Ab

isisevrsdicenui’

ie Srthoss a ed i

Qil . Stutz “Motors ‘eRe es seve uaiingya Technicolor ..... Verve FIRE 9314

“Unlisted Stacks

.. (By. Blyth & Co.) NEW YORK STOCKS, Bankers Trust nie a ntral Hanover .......secou.:

dels inavssvredensen wean

Ask

x as aden ohn ns vues 188

rvin : Mamaractire

‘National : National A First National Boston . : FIRE INSURANCE

ral Great Anan ni -Ndtional Fir Spars oe

Hae bert Wood, 1616 ¢ aeitbirnod, addi-

on, S100. cn peli. 3020 Meridith-st,

100...

Ld e, oe JW. 33rd-st, garage, a “machine | ashi ‘Co., 2528 CornellHaugh<st, addition, B, Roget io 3 3765 N. Illinois-st, new mgs racking Co,, 1315 N. linois-

irkpateiok Eds. 38 3024 Sutherland-

garage.

sEageuean SE — £1 A

ao RG AR] Sais %

BE a

Cini

| um i : i | M350 a0) “Good and shalce. 220-380, Good and choice.

: Me um & hen | Cull and medium’

bd “ p Sota and edi ‘

os Eon

a Ende 5740 College-av, repairs, ]

‘Good 3 . Common and mediu ve JLow cutter Gna cutter ..

Strictly ‘Choice 225-t0-275-Pounders.

on acuve

At the close, 180 to 300-pound weights brought $0.65 to Pe Top | 3 price- paid for stric

- Killing active and steers and heifers were strong to 25 cents higher. Cows were active and steady and bulls were steady. The run totaled 1600

grade | steers sold for $11 ‘to $11.75, ‘top’ $12. Heifer wp was $10.25. Beef $4 to $4.50, the cutter $3 to $3.75. Sausage pul

“Vealers were generally strong to 50 cents higher and the bulk’ of

the beter grades sold for $10 fo

$10.50, top $11. : Lambs were strong and ‘most of the better grades brought $8.50 to $9. Fat ewes were steady at $3.50 down.

Local Livestock

HOGS 8 86's .

9. Good and choice. .

cess aiyals

24. Light 1 Highs

60-1 pra and choice. .

um . Good and “choice. . (180-200) ie

ssemseance

voOD ®o 4.3]

09 89 6089

( {| Hea: wel his ) Good and choice. 138 -350) Good and’ choice. .

"cant

- 8983

E ADTLE —Receipts, Toon. (800-900) Choice...

Ea C (900-1100)

vy ; : 100-1300)

100d ai i:

3 (500-150) Chotce Valens eee. $ 9.75

Of a3 25 Sommon, | mediam 25 Good choice EH Gammon, ‘medium 4.25

bot basen NON

* (750-900)

xod and med; Bulk .

; Vealers. . . i —Receipts, .600— Good and ‘choice

88383

(250-500) Good and choice $6.00 Comma medium

Feeder and Stocker oh stle 00) Good ] OOD,

(500-8 med Hg Good con lod _cholce 8.

| (800-1050) Helfers—

i Good and c Common’ 3 Odin

Cows :

ho moka bi gous’ gs os saa ae 8k 8382 Sg

FREI

i !

£8 1)

SHEEP AND LAMBS

i | —Receipts, 3300—

190-170) Good and choice ommaon, medium’ i a Sheen spd lamb Wisiations on ¢ pped

EMPLOYES GET RAISE |

Simon Special | KANSAS

thandouble the usual amount’ Dec. 1, company executives antoday. :

Top Price. of $9.85 Paid for i

Hog prices Boosted. 13 cents ree ped 35 oni 3

5| Chesa Co

sows, steady; bulk 1% Cattle Res

a : | heifers, $12; Cail a nd e ‘} little done: on inds havin

338

York Bonds

assesssanhesens ves senasanian

:i iH :

Sssssesnesnanse

esses an esas “sass ene

Today's Bond Leaders—

Allis ‘Ch 4s *45 Std 5s "50 mn Hydro Elec 6s '44

Reading 6s '40 .. en 3%s "51 ...

a _——

; 7 Close. J HT gE

e 4128 '64 .... ov 95 & 8 4 ’48....111 6s 1 8 ge 11 Mills des "45° ...13¢

Gol Gas 5s April 23 Veeaeava 105 1 Col Gas Bs "61 .¢... 4 Terran 1028% neve. 90

u i 2 ro & Bo dhs i & West In 52 Chi & Nor West 43s *49 .

60 89%

Del & Hu 66%

Dock a 5

Other Livestock

ay oo led De ts,

CHICAGO, “ier 39,000, i Fg “12 7000 Hoe in Mark airy, active on weights from 210 lbs. strong 0 10c h an Monday's 2d He r weights slow, wear to 10c ir top, $9.85;

pal ‘good and | {choice 190-275 1bs. Sas, ne ig Jus $8.66 @9.35; better strong vielg $8 up; tter nas 19a. 0. e— Receipts, 14,000; calves, Fed Heers and id yearlings, steady i Ph not much receipts; very liberal snare of . bi ers: ight ye tae nd TS; ght |

J ie rrr action; but comparativel 250-1400-1b, averages; suc Ss very - slow late -Mon--1b, averages, $11; heifers, firm ly. to rong, and vealers, strong at $3@9. with ots up to $9.50; ogkers and feeders scarce and 1 hg i dir ects; fat

p—] pts, 5000, 2 2 slow; Bids "and sales. nostly steady: 15@%6c and more er; good to:

1050 lbs. gett

I e ii I Jambs big, down: now | ‘asking, $9.26 and better for chow ‘offer-

ings; sheep steady: feeding lamb undertone am on limited supply asking Higher. FORT WAYNE, Nov. 24. ‘5; 200-228 is 10 Higher. 2 225-250 1bs., $0. 65: 2 2 -228

ire 300 1bs., O50 35; 160-100 Sap $5: as; 300350 1bs., $9.10; 150-160 los, $s Lay $8.75; 130-140 1be., $8.50; 120-130 bs. $3.25: 100-120 1bs., $8. ughs, 5. 50; Sand, oT Calve a Lathbe ark ‘ arke

to. 150 higher: is. st=ady to 15¢ ‘higher: 250-325 1bs., 9. 00-250 - 1bs., je. 0a) .60;. ie 2 50-170 $0a0 1; 75; Too 50 bs., yo 15 ‘down. Calves,

$3.25 vy

i gent 2 kbd

Youngstown S & P Youngstown

cows, | So

s “ol " LE

Saheaiavnens .“

we $a

ia Trans 8 “¢

Nati 2 ds ‘65... : 3 Sat fi oid). SH

> 58 "61... .1-108 : bess ssesnennn

eveserl

; " 4s “3% a AB. vii nnniens i)

> 51 :

sem ianees cssssenee

“ns

cesses u aes

4%s 3128 "50 .....i0e Faie’ 428 '88 .isiceovre 4 ’8

'49 Rafi . a u Rail 6s '56 sou Rail 6 Texas Pac

B+ iitaiaseiss BI IY 5138 Yeenreere nr 1 5 gaa

spend

Farm: Hoe 35. 7 101 Western Union bs 60 ioee-108 & T 4s 104 S & T 3%s 51 ..120 FOREIGN

Argentina A 8s, 4 cons Australia is

a Po Issues

By Lyons. & Co. (By Lyons. dia

Allied Shares 2%s, ‘61 reessruil Arkansas ‘Gas 4

& 4,8 Beth Stee Cal Ore Power Central M Central M.

ara radi Con. River Pr D Cudahy Eke 3%s Cudahy Pkg 4s Edison Hium Boston 3s *65.. Gulf Bt Steel 4 Indianapolis at ) 3s "68.. Kansas L P 4 LOS ae 4 G > L 3%s "70... Louisville E 3%s '66 ....

hs Bg oli sve 0

Wisconsin isconsin Pub

"Money and. a

“INDIANAPOLIS STATEMENT

» 83 154.000 7,108,000:

TV 48 ot.

Clearings ....... Anahi saad enh Debits

TREASURY STATEMENT (By United Press) WASHINGTON, Nov. expenses and receipts for the current fiscal Joa: to Nov. 21, as compared with a year ago’

This Yea Expenses. oy 2,761, a 0. $8 2. oft 4% 194 36 569.31 Receip 419.696. 2 11

1 1,175, 77 7.7 ps Hate Lao 3,808,056, 566. 5 a2 304 852. 211864 94

Bebe i 138,268; 2,8 Customs. . 169; 471, 596. 36 1% 36. 595. 38

24 —Government |

STEEL BUSINESS LEADS INDUSTRY

IN UPWARD PAGE

Labor Department Survey Presents Optimistic Picture.

WASHINGTON, Nov. 24-—An optimistic picture _of)

ployment and pa

{the nation’s

nesses was presented today by the

| Labor Department in a survey of in-

dustrial conditions. New benefits were said to have been distributed to labor as the

{economic barometer showed con-

tinued improvement in the massive

| durable goods industries, considered

by many analysts the indices of business health,

Lead by giant steel, with its num-

{bess of workers .and weekly pay

rolls approaching the 1923-1925 normal mark set by the Bureau of Labor statistics, a great part of the manufacturing industry appeared to be moving forward at a rapid pace. Airplane Industry Expands Blast furnaces and rolling mills} turbine and tractor shops; automobile and ‘airplane factories;

aluminum, copper, and bronze establishments had increased employ«

| ment figures compared with what

the bureau fixed : as “normal” standards. Labor Department charts showed rapid expansion in the airplane industry, which employed more than five times as many workers last menth as it did during the 1923. 1925 period. The business, statisticians: ex« plained, was in its comparative infancy at the time fixed as normal, As a result, the Labor Department's index today showed employment in the industry at 506.5 compared with 100 for 1923-1925 and pay rolls at 375.3 for October. This compares

‘with 4208 and 3254, respectively,

for October, 1935. Lumber Business Trails

Still trailing, so far as re-eme ployment is concerned, were lumber and allied products, with employment at. 69.3 and pay rolls at 6334; railroad repair shops, with employment at 60.7 and pay rol’ at 63.9; and stone, clay and gla products, with employment at 69. | and pay rolls at 62.5. The restricted : position of ‘the railroads was hinted at when it was disclosed that employment in loco motive shops was only 39.5 per cent. of 1923-1925 and in railroad ca shops only 61.

: FS Ro 3 ypewriien un 622 IRETEEN v1. ow 8 geen Use the Te to increase oli Collections, Promotions, ete.

Bemis Letter Service 203-307 Merchants Bank Building

Rush Jobs Make Us Smile

Hendren Printing

Company, Inc. £70 CENTURY BLDG. RI-8538