Indianapolis Times, Indianapolis, Marion County, 8 November 1946 — Page 26

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ines Ries 1

* Socialist Government Aims

To Pacify Foes

Increase Living Standard

TT —y

s, Make Jobs,

antagonistie

hy] EDWIN mes Foreign

LONDON, Nov, 8.—In the summer of 19 weary people of Great Britain—in a great burst of social ? ¢onsciousness-<alected a Socialist government with & two-|

to-one working majority in the house of commons. That government is ‘headed by wmildmannered little’ ‘Clement Attlee, who looks somewhat like a baldheaded Tom Dewey. It is now|. earnestly trying to get something Jone before. the benzidrene wears

0 “Socialists strange ©ol~ lection of intellectuals, labor skates and night school sociologists, backed by a powerful trade union move-ment-~are nok shooting for the moon. . They honestly warned the electorate in 1948 that revolutions are not made over a: week<end. But the relatively modest task to which they are committed is. dimoult enough: That task 18 to fmprove the British standard of living, to. maintain ~ full employment, and to bring some measure of social control over the basic industries of the nation-—not for the sake of control jtself, but to achieve the broader social objectives to which the Labor govern. ment is dedicated. Difficult Days Ahead The patient's clinical chart indicates that the minimum program of recovery will be difficult. Great Britain had reached its peak as a great power before the first world war. Singe that war, the people of Britain had had little to be merry about. | Beginning with 1921, they had 10 ars of hacking depression; then seven years of humiliating appeasement. ! Then three solid years of defeat— @uring which the people of Britain held the dike against Naziism in bitter loneliness, and threw everything they had into the battle. . {With the turning of fortune in the war, the British people felt a jef flush of victory, only to be ‘plunged again into the ravages of peace. : Long Slide Downhill ! The war drained Britain of much of its material assets, which were dwindling long before Hitler turned the locusts out over the face of Eu-

rope. { The British Socialists, while stick-

A. LAHEY Correspondent

on, the War

until some of the economic lesions of war have been healed. At home the British Socialists face. powerful enemies of the “planned economy,” the industrialists and the aristocracy. Abroad, Britain finds an more unhappy atmosphere, * At every exposed spot in Ms line|— of communication with the rest of the British empire, the Labor gov. ernment finds Communist pressure, and so has evolved a negative foreign policy based entirely on determination to resist the expansion of Russia in Europe and the Near East,

even

Fight for Markets

In the near future Britain faces the certainty of increasing rivalry with the United States in ‘the starved markets of the world, This economic crisis has been deferred because American industry has had regonversion cramps so badly. And still further in the future, British industry, which must continue to expand its foreign trade if the promises of the Socialists are.to be redeemed, faces still keener competition from. cheap labor in Germany and Japan, whose workers rust eventuhlly pay through the nose for losing the war, If British workers and their government are frightened by the future, they keep thelr fear a secret from the foreign visitor. With the same polite determination they showed when they s alone against the Nazis, the British are now trying to combine what they believe to be the most workable features of socialism and capitalism, to enjoy the “best of two worlds.” (This phrase has become commonplace on this island.) Already the Socialists have taken great strides, despite the initial handicap of threatened bankruptey. Tney are investing heavily in public education, public health facilities, housing and food subsidies, and increased social insurance. They have nationalized the Bank of England to control the flow of

more abroad (a two-way sacrifice) |”

THE INDIANAPOLIS TIMES

in Struggles Bravely To Achieve Best Of Two Worlds’

_ FRIDAY, NOV. g 1946

from the toastmaster’s table,

Exposition Dedication Finds Backers i in Happy Mood

"All the jokes at+last night's dedication dinner of the Indianapolis Industrial Exposition were not told Above, a group of railroad officials and Purdue university President Frederick L. Hovde enjoy a joke told by Governor Gates. Left to right are (standing) Dr. Hovde; Wayne A. Johnstone, Illinois Central president; John W. Barriger IIL, Monon president, and Paul E. Feucht, Jndianapolis Union Railway president; and (seated) Governor Gates; J. W. Davin, Nickel Plate president; Gustav Metzman, New York Central president; Roy ‘B. White, Baltimore & Ohio president, and James M. Syma, Pe Pennsylvania Railroad deputy vice president in charge of operations,

WAGE REPORT!

Seeks isty's Help to Establish Raises.

WASHINGTON, Nov. 8 (U. P) The American. Federation of Labor | asked industry today to give unions!

|its financial reports so labor could | co-operate in building the produc-| :

tive efficiency to es. i “Now is the time when buying] power is needed to bolster the market and keep up enough demand for goods to prevent widespread lay-offs while prices decline to! reasonable levels,” the A. F. of L.! monthly survey said. “Workers need higher wages to meet higher living | costs. “Employers, on the other hand, see orders falling off and feel that this is no time W increase labor costs.” To cope with that situation, A. FP. of L. recommended: ONE: Employers should be asked | to furnish “responsible” union officers with the same financial reports given stockholders, plus data show-! ing the fotal labor cost of their businesses. TWO: If the financial reports show wage increases cannot be paid, union - management committees should be established to promote productivity.

Want to Avoid Recession

necessary

the

investment, have taken the first | steps in socializing coal and com- | minications, and are preparing to

g to their promise of a fuller life time to gome, had to ask the workers who elected them to continue to live under wartime conditions of long hours, hard work, and deprivation, to get over the first " Irump of reconstruction. + This means buying less and selling! ™™

nationalize railroads, long distance] trucking, gas, electricity, and basic] steel,

They are attempting to marshal | all the resources of Britain to

achieve a better life for the average!

Briton.

Personalized

Daa CARDS

(YOUR NAME IMPRINTED)

A Large Selection of Designs and Sizes

Visit the new Gift and Toy department on our second

>» Sine

44 E. WASH. ST.

Listen every Saturday morning 9 to 10 o'clock WIRE to ing 9:45 to 10 o'clock WIRE { to the “Big Little Party.”

Use Our Layaway

Neighborhood e 5539 E. Wash. Stores ® 4217 College

Open Evenings ® 109 E. 34th

| BUSINESS DIRECTORY

IN-WILLIAMS

nw a Paint for Purpose

COSTS LESS!

It Lasts Tore

FU m LR LAY EN

Is gest Selection in the State

INDIANA FUR co.

112 East W ASHINGTON St

WHILE THE REST OF , THE TOWN SLEEPS HAAG'S ALL-NIGHT DRUG STORE

22d and Meridian Sts. I8 OPEN

goers wm pater ——-

| 86 © $7.50 » $10

Same quality I. ae JUnit

mary LEVINSON 58%

NN. Pemn.—Oor. Market & INMinols _

———————— | og

| You Save Because We Save Men’s Suits & Overcoats

$ | 8” 2 | a5 24"

CASE CLOTHES | 215 N. Senate Ave. Opep § to §

Ladies Bowling Shoes

Copy of Bowling Rules Given Without Charge $4.98

KINNEY SHOES 138 E. Washington St.

nant + Our Hodernizstion program is not interfe: ith the most interestin values sown! Slop in and see us

—% ‘Hamilton’ 3 | DIAMONDS #% WATCHES APPLIANCES 19 EAST MARKET ST.

RE- ROOF NCW

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FALL FELTS

“Remember that vour wage gains must be earned,” the A. F. of L. said.” “See how much of a wage in crease can wisely be paid now. If

{1b is not adequate, set up a union- Indpls P & L 4

management co-ope ration commit- | {tee to improve efficiency so that a satisfactory wage can be paid.” The survey said one point should be understood clearly: “The federation has no desire to | [take over management's duties and | responsibilities. We recognize the difference between the functions of management and labor. We contend, however, that management can perform its function better. if it has the beyefit of labor's intelligent co-operation.” The A. F. of L. said everyone! wanted to avoid a business‘ reces-|

{sion during the readjustment period |

ahead and that labor and management had a great responsibility in negotiating new agreements

PROPERTY OWNERS TO CONTINUE BATTLE

| The property owners’ battle to {end alleged discriminatory legisla[tion was not ended with the general |election, declared Morton Bodfish, executive vice president, U, 8 {Savings and Loan league, Chicago | He spoke at a luncheon-meeting of the Indianapolis Real Estate board held yesterday in the Wash- ~ ington hotel. “Only by a common front. of all concerned can we get the proper {balance between. government {and private enterprise,” the speaker | urged. :

TRUCK WHEAT

| Indianapolis | vators are pay {1 red wheat | J | corn, now No. : | and No | testi ng J4 pounds No. 2 yellow soybeans, | ture, $3

s and grain elepushel for No r merit) r bushel

T9¢ per bu 14 per cent molis-

hel;

raise | | 2

3 | Good

| 250- 550 pounds

onts, |

AFL ASKS FOR [Hogs Sell Steady Here as Vealer Prices Jump $1.50:

CURB ON COTTON TRADE IS URGED

Price Falls Nearly 30 Pct. On Small Crop.

WASHINGTON, Nov. 8 (U. P.) — Secretary of Agriculture Clinton P. Anderson today recommended sharp restrictions on cotton futures trading. Mr. Anderson sald the purpose of the curbs would be to prevent any repetition of the “recent disorderly price situation in the cotton futures market.” The price of raw ‘cotton has spiralled recently from a 26-year high of 38.93 cents a pound to an average of 2795 cents on 10 spot markets yesterday. This is a drop of nearly 30 per cent, despite the fact that this year's cotton crop vil be one of the smallest on record The agriculture department Jou estimated that this year's crop would total 8,487,000 bales eof 500] pounds to the bale. This is only 542,000 bales larger than the 1921 crop, the smallest since 1895. It is | 525 ,000 bales smaller than last year’s

Hogs sold mostly steady today at the Indianapolis stockyards in crop and nearly 4,100,000 bales less |

an active market.

Good and choice vealers jumped $1 to $1.50 while fat lambs climbed |

50 cents to $1.

than the 1934-44 average. Mr. Anderson ordered public] | hearings in Washington Dec. 10 on|

Receipts at the local yards were 9000 hogs, 450 cattle, 250 calves| his proposal. It would prohibit any|

{and 1175 sheep.

GOOD TO cHoIcE HOGS (9000)

utche 120- 140 pounds’ 140- 160 pounds 160- 180 pounds 180-,200 ‘pounds 00- 220, pounds 220- 240” pounds 240- 270 pounds 270- 300 pounds 300- 330 pounds 30- 360 pounds Medium — 160- 220 pounds

Good to Choice 370- 300 i 300- 330 pounds 330~ 360 pounds 60- 400

400- 450 450+ 500 | Medium —

Slaughter "Pigs Medium to Good — pounds

353. 50 24 00 | 900- 1100 4.00

‘as n 00 i. 280002415 | Good — ove [email protected] . 24.00@ 24.15 24.00

Packing | Sows ¥

23.50

6 [email protected] | 800-1000

2 5023.75 |

[email protected] 22.00@ 22.35

LOCAL SSUES

Nominal auetations faraish dianapolis securities dealers: STOCKS

Agents Fin Corp com Agents Fin Corp pid... American States pid”.. American Staves cl A... L 8 Ayres 42% pfl yrshire Col com

a 50@23 50

by In-

pounds ..... seiner 2 22.25@ 22.50 | 600- 800 | 800-1100

Bid oo Tha "ess

Belt R Stk Yds com . ra 3

Belt R Stk Yds pid Bobbs-Merrill 42% pid. Bobbs-Merrill com .. Central Soya com , Circle. Theater com PHAN | Comwith Loan 47% pid Consolidated Industries com .. Consolidated Industries pid ‘ Cons Fin Corp pid “a | Delta Electric com {Electronic Lab com

Ft Wayne & Jackson RR pid § “e 1

Herff-Jones ¢i1 A pid Hoek Drug Co com Ind Asso Tel Co 2 px Ind & Mich Elec 4 Indpls P & L com pfd . Indianapolis Water pfd .. dpls Water el A com.. - Is Rallways com. Nat Life com Ringan & Co com Kingan & Co pfd Lintoln Loan Co 5's pid... Lincoln Nat Life 5'3 pfd Marmon-Herrington com.... Mastic Asphalt PE Natl Homes com IN Ind Pub Serv 5 ‘ N Ind Pub Serv com .. 2 R Mallory com

a ° pld

Progress Laundry com Pub Serv of Ind com Pub Serv of Ind 327% Ross Gear 3 So Ind G & E 4.3% pid Stokely-Van Camp pid ...... Stokely-Van Camp com {Tetre Haute Malleable U 8 Machine com United Tel Co $% Union Title com.

aaa BONDS American Loan 43s 60 American Loan 4'2s 58 .. Buhner Pertilizer 5s"64 .. Ch of Com Bldg 4% #61.. Citizgns Ind Tel 4'2s 61 . Coldmbia Club 1'as 8s

Fin 5s 66 vavens ee or Mig Co 5s 56

Hooster Crown 5s 56 Hidpis Brass & Alum $s 36. . P&L 3%s 0 ah by Railways Co 5s 7. ‘a Ind Asso Tel Co 3s 75 panesion elephung 3s 61. Co 4s 54

8 - iy po) 3%s 73 ub Serv of Ind as » Pub Tel 4's 38 . Williamson Inc $s 58 Trac | Term Corp 5 5s ! BT vn

.. 104 . 98 ”

105% 00

* {Good and choice

CATTLE (450) |C Hidlce ~ - 900 pounds pounds pounds ......

pounds

{1100-1300 1300-1500

0 pounds pounds pounds pounds

1100-1300 1300-1500 Medium — 700-1100 pounds 1100-1300 pounds Common 700-1100 pounds rue nass Heifers 00-800 pounds re: pounds Good-~ pounds pounds Medium 500- 900 pounds. ...... cavers | Common —

. 18 [email protected] | 500- 900 pounds

Cows (all weights) | Good baba nsasnriraans Medium ... “rani Cutter and common . | Canner .

Bulls (all weights)

Bod (all weights) Sausage— Good - Medium Sears Cutter and common ..

CALVES (250)

{Common and medium ......

"| Feeder

ial

3a 99

“15 26%

1101; 27 113

107 107%

Indianapolis Water Go.

DIVIDEND NOTICE Preferred Stock

The regular quarterly dollar ‘and

twenty-five cents

($1.2

dividend oe ne

share has been declared by the ae of |

Directors on Cumy

ferred Stock, Series "A" 2, 1§

ilative

Pre-

payable January

047, to holders of record December 12,

1946

{

Culls (75 pounds up)

and Stocker Cattle Steers

800- 1050 | Medium 500- 1900 _pounds reels Comm 500- 900 ~ pounds . : SHEEP A115) Lambs Choice (closely 30fted) Good and choic Medium and good Common

"Ew es (Shor) Good and choice Commo and medium .

It’s mattresse hardest of spring

ticking.

—really

grade ticking

Common Stoek, Class “A” |

A dividend of. twenty “cents

“A 1046 106

rectors on the Class payable December 2, record November 11,

120c) a

share | has been declared by the Board of Di-

Common Stock to holders of

ELMER C.. SCHWIER,

Secretary.

GET SET FOR WINTER NO APPOINTMENT

WITH THESE .

on ROYAL SPECIALS ROYAL

sore PERMANENT HERE'S WHAT YOU GET

® A Fine Guaranteed Permanent! ® Good for Chil dren Bleached, Dyed or Gray Hair! ® Nationally Known Supplies Used. You Must Be Pleased! ®Al) ork Ia SA tanteed!

NECESSARY

Plenty Operators

No Waiting OPEN Ti 8:30 A. M. (0:00

$ 24

401 ROOSEVELT it

All Wolk ‘Guaranteed

Helen of Troy PERMANENT

Worth jnany times this low price.

COLD WAVES XTRA, APEQIALI Value Looks ike naturally surly hair

LL P.

53: 95 ST 50

or full size.

liberal

side.

Tonight, Saturday,

The Famous cosco

STEP STOOL

All metal, with rubber treads Steps fold under, out of the way. Choice of colors.

56%

all get fine inner-

. [email protected]

23 006228.00

Ten. [email protected] 24.009/30.00 |

17.00@22 00

« 17.00¢23.00

18 00.524 00 | 18.50 @24.00

[email protected] [email protected]

. [email protected]

. [email protected] 17.00 22.00

. [email protected]

| speculative purposes

| trader from trading or holding for | on any one | day more than 30,000 bales of couon | in all futures markets combined. The previous maximum was 30,000] [bales in any one*market,

POTATO ACREAGE IN INDIANA DROPS

Indiana's acreage for the 1947 |potato crop has been set at 33,900 | by the ‘Agriculture department. This - acreage is 2100 below that

RFC Rejects $11 Million Loan

To Higgins for

Pre-Fab Homes

WASHINGTON, Nov. 8 (U. P.).—The Reconstruction Finance Corp, announced today that it has rejected a loan of $11 million to Andrew J,

| Higgins, New Orleans industrialist, fabricated homes next year,

for the production of 10,000 pre

The RFC said the loan was rejected on the grounds that it was | too big a financial risk for an agency to approve.

A spokesman for Housing Expediter Wilson “W. Wyatt told reporters that Mr. Wyatt may direct RFC to make a loan to Mr. Higgins anyhow, under his authority as housing expediter, The RFC alsp announced today that it has rejectéd a $15 million

loan to Reliance Homes, Inc. of Lester, Pa.

Six Loans Rejected

This company applied for a loan to build 31,000 pre-fabricated homes by t the end of 1947. The national

FARM MINERAL FIRM OPENS. NEW PLANT

Farm Minerals Co. Inc, is now {operating its new plant at 21st st. and Sherman dr, where it will {manufacture up to 250 tons of “Farmers Livestock Mineral” a day, The new plant incorporates many {newly developed methods of handling and mixing the 22 ingredients used in the product, and the company now has adequate mae terial and capacity to manufacture specific mineral formulas for other feed concerns.

Large storage bins for ingredients have been installed in the new plant along with special equipment for unloading and storage of material in bulk form. Approximately 2000-feed dealers and jobbers handle the company’s product in Indiana,

11 20G13.50 set in 1946 and is expected to pro-| ohio and Michigan.

[email protected] [email protected]¢

12.50% 14.00

. 12.506 14.00

[email protected] 7.50@ 9.25

[email protected]

. 12.606 14.00

[email protected]

«+ 24.00 26.00

15.00@ 24.00 12.00@ 15.00

and Calves

[email protected] | [email protected]

[email protected] 1400G18.30 . 12.50914.00 . [email protected]

24.00 . [email protected]

[email protected]

. [email protected] |

6.00@

vas 7.50!36c; gra . 5.00@ 6.00 grade B large, _40c,

duce approximately 375 million bushels. The national goal for 1947 is 2,699,800 acres—116,000 acres below 1946,

U. S. STATEMENT

mR ASEINGTON, Nov. 8 (U. P.) —Goyvernnt expenses and receipts for the cur-

men fiscal year through Nov, with a year ago: This Year Last Year $ 12,842 344,453 § 29,467,112,443 12,445,330,424 13,833 ,412,313 397,014,028 15.633,606,130 6,120,986,222 12,707,261,993 43 889 262,690,193,033 906,889 20,035,036,391

6 compared

Expenses Receipts Deficit Cash Balance {| Public Debt 261,926 Gold Reserve 20,404 INDIANAPOLIS CLEARING Sleatings Debi

HOU SE $ 7,540,000 26 046,000

LOCAL PRODUCE

PRICES FOR PLANT DELIVERY “Poultry: Hens, 4'z lbs. and over, under, 20c; ghorn hens, 20c; springs, riers, broilers and r Leghorn springs, 25¢; gaze, 10c; No. 2 83c;

No. 1, Current receip's, ade A large 50c;

24c; 946

go Te

No. 2, 80c. 54 lbs, to case, medium, 43c;

5 4c less than . Buttertat: | gS:

Evening’ by Appoint” ment

no grade, _ 25¢

LIBERAL TERMS

s—and to

tresses in GOOD At last we have obtained a limited number FINE innerspring mattresses—in highstriped (similar to cut). Twin size Sellin 2 starts tomorrow — and ‘at the same price you would have paid for a FINER mattress before the war—and terms. Get pre-war quality at pre-war price tomorrow at South-

This Price Effective Saturday Night and Monday,

OPEN MON. FRI, SAT.

UNTIL 9 P,

been hard to get mattresses—and harder still to get FINE innerspring

¥y, 2

housing administration backed the: | group Mr. Wyatt has not vei decided

whether to direct’ RFC to make the loan,

The Higgins loan is the fifth and Reliance the sixth- RFC has ree Jected for pre-fabricated housing. Other loans have been rejected for the Lustron Corp. of Chicago, which sought $32 million; General Homes, Inc. of Columbus, O., which sought $2 n; the Interlocking | Walls Corp. of Los Angeles, which sought $100,000, and the Laminated Wood Products Co. of Knoxville, , Ten which sought $1,110,000: : RFC, has approved prefab loans’ totaling $2,500,000. Of this $1,500,000 to the General Panel Corp. of Los! Angeles; and $1 million to the Knox Corp. of Thomson, Ga. .The spokesman said Mr. Wyatt is “confident of his authority to direc RFC to make loans to the corporae tions whose Applica tigns have been disapproved.”

ee COMING!

CHEVROLET

Truck and Special Equipment SHOW!

NOY. 19.23

Manufacturers’ Bldg. STATE FAIRGROUNDS

Finest and Most Modern Eye-Examining Equipment Used

Or. David Tavel

ole lV IIE}

Sica) mS CIN IT!

pointment later.

TOYLAND NOW OPEN

Buy your toys and all gifts EARLY this year and avoid possible disapMany items are obtainable only in limited quantities.

FURNITURE

BOOKCASE

Walnut. Finish

Md 2

Liberal Terms

FIVE-DRAWER CHEST

Maple or Walnut

51 9-95

Liberal Terms

\ 932.034 SOUTH MERIDIAN