Indianapolis Times, Indianapolis, Marion County, 6 December 1946 — Page 18

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Erope Dominated Of ‘Crash’

HAs

SEERA

By EDWIN Times Foreign

Sir

In recent months, as Americans

This expectation of an American crash is not confined to the socalled “social democratic” countries, like Great Brit- , ain, Norway and Sweden, where capitalism wears | a thin but vigor- | ous coating of |

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Communist political theory to- 2 day, not only in Europe, but in Mr. Lahey Union Square. Present-day Communist belief od that the next crisis of mass unem ployment in America éan be. parlayed into the death of capitalism. | \ The same theory pervaded the third international when the U. S. start- | ed to ravel at the seams in 1929. But later it had to be replaced by the assumption that the old horse of capitalism still had a few depres- | sions left in its system.

Justify Soviet Trade . For the “middle way” countries, | the fear of an American depression impels advance preventive measure. Thus, the Swedes in part justify their new trade relations with the Soviet Union on the possibility of |

KEP ern rev (Xa FN rR

STEER SERENE Nv

“ Weide

the credit of $78,500,000, recently advanced by Sweden to Russia for | M the purchase of Swedish goods over a five-year period, the heaviest de-| liveries of capital goods and machinery will not be made until

1949-51. The Stockholm Dagens Nyheter, as the liberal party, suggests that the distribution of deliveries to RR “might very well be based on 2 . calculation of business ' oyck ments,” and might turn out t. oo "a very beneficient factor | in our employment policy.” Russia as Market

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tain price control, Sweden will in heavy capital goods.

ments between Britain, the Dominand the British colonies. part of the terms of the U. B. Britain principle of the removal of all barriers. (A classic example of | British practice is in the cocoa trade. Britain controls most of the world’s cocoa, of which the U. 8. is|

erating what amounts to a rigid, y

modity.) Charge America “Welches” Economic writers in Britain are now saying quite freely that the promise to abandon preferential trade practices was contingent upon an American promise to adopt a “full employment” policy. British economists assert that America has welched on its part of the bargain. They say America abandoned domestic economic controls and emasculated the original “full employment” bill, which was passed by the 79th congress in greatly watered form. The effect of “unbridled capital-| ism” in the U, 8 will not be ex-| panding world trade and full employment. Instead it will be but a depression in America which will force us to “export unemployment” by dumping inventories in a world that would have no protection from cut-throat practices if the American trade- principles were not fully

an increasingly articulate number of British writers,

and The Chicago Daily News, Ine.

depression. Under the terms of | &

In brief,.the editorial is trying to 00100 BOURgh .ereume but say that, if the U. 8. starts a world | “eo. soo by its failure to main- S100 pounds at| 500- 900 pounds ...... ates Jeast have Russia as a market for a a

In Britain, the fearful certainty Good Mou Wp an American depression is being Outter and common .. used more and more to justify the Canner . British reluctance to abandon the|geer.. practice of preferential trade agree-|

agreed to the Amer-|

price-fixing monopoly in this com-

accepted by Britain, according to! }iogk, Drug Co Sp

roi Is Eying r

Ss Economics

by Fear in U.S.

Depression Rumors Cause Many To Look for New Trade Relations

A. LAHEY Correspondent

STOCKHOLM, Dec. 6—The economic thinking of Europe is completely dominated by the fear of a crash in the United States.

have shaken themselves out of their

economic controls, this fear has acquired the same kind of certitude with which everyone’ (incorrectly) predicted widespread unemployment during the reconversign period in America.

§25 Price ce Tops Hog Sales Here

Cattle Steady, Vealers Uneven Again Hogs . were steady to 50 cents

{higher in a very erratic trade at

the Indianapolis stockyards today. Top price was $25. Cattle trade moved on a steady level in a fairly active session. Veal- | ers were uneven again, 50 cents to a | $1.60 higher. Fat lambs lost 50

GOOD TO CHOICE HOGS (670) Butchers 120- 140 pounds ... 140- 160 160180-

0 3 - 360 iu

160- 2% pound¥ ............. [email protected] Packing Sows Good to Cholce— 70- ‘300 pounds ... .. [email protected] 30 330 pounds . [email protected] 330- 360 pounds [email protected] 360- 400 pounds ..... «30 [email protected]

400- "450 pounds .....eeeesis 20.5% 31.00 SD 500 pounds .....ieviennn 20. 121.00 250- 550 pounds ............ [email protected] Slaughter Pigs Medium to Good— 120 pounds .... [email protected] CATTLE (825) Chotce— 0. 300 pounds .. @30.00 1100 pounds .. $30.00

1100- 1300 pounds .. 1300: 1800 pounds ....

Hoo "900 pounds .... 900-1100 pounds ‘eye

300 poun . 1300- 1500 pounds .... Medium 700-1100 pounds .

232.00

$33.00 323.00 24.00 234.00

15.00@ 19.50 1100-1300 pounds ....ees [email protected] oe “1100 pounds [email protected]

unds

sitessnenens

pounds

Balle an weights)

Good al] weights) Sausa

RL LTT LL EP rp 14.00@16. Medium ..........«00..0.. 12.00@ 14.00 Cutter and common ........ 9.50

CALVES (375)

Good and choice .......... . {Common and medium Culls (75 pounds up). : Feeder and Stocker Cattle and

Steers

Calves |

500-00 - pounds .........e.. [email protected] | 800-1050 Pounds vessn eran 16 Ee in - pounds [email protected] { dos, 1050 POUNdS .ievevscsns 1400816.50 “00-1000 pounds ..eeevecnea. 12.50@ 14.00 mmon — { 00-00 pounds ........... 10.00913.50 SHEEP (150) Lambs Choice (closely sorted) viva Good and. choice. ... “ 23.00 Medium and Good.. . Fr 000300 COMBMON «vanes aove, is Nears 13.00@ 15.00 Ewes (Shorn) Jed and .choles.......uv.ix.. 6.00@ 17.50

Common and nd medium

LOCAL ISSUES

Nominal quotations furhished by Indi- | anapolis securities dealers:

STOCKS

Agents Fin Corp com Agents Pin Corp pfd | American States pfd.... merican States % d ve 2 8 Ayres 4% % yrshire Col Bom. "ak Beit R 8tk Yds com .. Be a WR Bobbs-Merrill 4 fd. Bobba.Merr ill com p

Asked

33 36:

LOCAL PRODUCE

FRICES POR PLANT ay Hens, 4% lbs. 23¢; Leghorn hens, 23¢; 19 wring. triers, broflers snd and tHe, 30¢c; 16¢c;

spr Tog. 30 ducks, {Ban oo

No. ne poultry, 40 | Butterfat:

No. 1, 83c; No. 2, 80c.

ae Srade A 53¢; medium, 43c

no grade, 26¢

ge, . 40c!

ELIVERY and over, 27;

Eggs: Carron: receipts, 54 Ibs. to case,

QSSIBLE TERMS HOLE YEAR TO PAY

y FRI. AND SAT,

| 2 |

One-Industry Town Seeking New Revenue

Tractors, Implements

NG By GEORGE THIEM Times Special Writer DETROIT, Dec. 6.—The world's motor capital is turning to the land for the answer to its dream of last~ ing prosperity. A one-industry' town, Detroit is eying the farm machinery business to supplement its gigantic capacity for automobiles and trucks. Harry Ferguson, Inc, in co-opera-tion with Ford Motor, have been producing $10 million worth of tractors and farm implements monthly. Now the two have split, but both promising to manufacture tractors and a full line of tools to go with them, Farm Ma Center “We intend to make Detroit the farm machinery center of America,” one of the city's business leaders told me quietly over a luncheon table in the Detroit Athletic club. “We have the mechanical genius, the know how, the skilled help and the facilities for doing it. But to prosper we know the farmer must prosper. He is the base of our whole economic structure. So we are organizing to make our top research men, scientists, engineers and laboratories available to solve farm problems.” For want of a better name, the movement centering in the Detroit oo board of commerce is called “prosperity from the ground up.” Thresh Over Problems A dozen committees have been working without fanfare for more

{than a year. Such leaders as the

great Charles F. Kettering of General Motors, P. H. McCarroll of Ford and Chrysler's Fred M. Zeder and Forest H, Akers, all research directors of their respective companies, are taking an -active part. Upward of 100 of Detroit's prominent industrialists—many of them with farms of their own—are meeting regularly. They are threshing over the answers to some 100 farm problems dumped in their laps by Michigan State college agriculturists and others. Sparkplug of the group's executive committee and chairman is six-foot, four-inch, Lincolnish Roger M. Kyes, president of Harry Ferguson, Inc., who says: Acting Frankly “We aren’t trying to tell the

vedies cerns. [email protected] 8 nan 50 farmer what he should do. We are

trying to find things that we can

[email protected] 45 within our natural spheres of

tage of agriculture, “We are acting frankly in

the factory payroll comes from the economical distri-

12.00 bution and use of the wealth we

create. But it is the farmer who

[email protected], creates most of our basic wealth.” 13.50@ 26.00 [email protected]

A higher standard of living for both city and farm dweller and lower food and fiber prices are not (Inconsistent, according to the De50| troiters. They reason this way. The automobile of 1907 listing at $1980 was not a very good car by today's { standards. Production costs were { high. Few could afford to own them. | Efficient Output In 1042 a better car listed at $840. Millions could afford to buy them | and did. The savings of nearly two{thirds came from efficient and | higher volume output.

bor, nor of the consumer. Wages had increased tremendously. Profits were adequate. Consum- | ers got more for much less money | (all because technology had been ap- | plied to the problem.

Sa Time and motion Studies have!

To Supplement Autos

25 1s 8 en3 lightened self-interest. We are convinced ‘that the prosperity cycle starts with the farm and not with Prosperity

It did not | 5.0@ 6.00 come out of management, nor of la- One year as they normally develop

THE INDIANAPOLIS TIMES

¢ ®

arms As Answer To Lasting Prosperity)

[SS -

FRIDAY, DEC. 6, 1946

Bowers Name

Of Harvester

Goltberg Promoted And Transferred

Appointment of Albert M. Bowers as works manager of the Indianapolis truck engine plant of Inter- | national Harvester Co. has been announced by V. A. Guebard, manager of manufacturing in the motor truck division, Mr. Bowers succeeds Harry E. Gottberg, whose promotion to asistmant manager of manufacturing in the motor truck division has been announced by W. C. Schumacher, division general manager. Mr. Gottberg will move to the Chicago general office. Robert R. Coulette Jr. has been named general superintendent, succeeding Mr. Bowers,

Joined Firm in 1918

Mr. Bowers joined the Harvester organization in 1918 as a machine operator at the Akron, O. plant. He spent 13 years at the Ft. Wayne plant before his transfer to the new Indianapolis works in 1937, Here he was mechanical engineer, chief inspector, second assistant superintendent, assistant superintendent and general superintendent before assuming his present position. Mr. Gottberg, who is a graduate of Purdue university, joined the Harvester company in Chicago, in 1934. In 1938 he became the Indianapols plant's first production manager.

Returned Here in 1942

He left in 1940 to be assistant superintendent at the Springfield, O., plant, and returned to Indianapolis works as superintendent in March, 1942. Mr. Gottberg was

Wages Lagging Behind Profits

WASHINGTON, Dec. 6 (U. P.).— A government report said today that salaries and wages are lagging behind industrial ‘profits and similar types of income payments. If this trend continues, the re-

ports said, consumer purchases of food and other non-durable goods may drop sharply. At the same time, it said productive capacity has just about reached its peak unless there is an increase in the nation’s labor force or a sharp hike in the output of basic raw materials. Demand for farm commodities already has passed its peak. Farm prices during the next three months are expected to average five to 10 per cent below the mid-October peak. This presumably will mean lower retail food costs. The predictions were included in an analysis of the demand and price situation by the agriculture department’s bureau of agricultural economics.

wage payments during the first nine months of this year comprised only 65 per cent of the nation’s total income payments compared with 70 per cent during the corresponding period last year.

been standard practice in industrial plants for years. Steps have been taken to put every farm operation under the microscope to lighten the farmers’ labor and cut costs. | Mr. Kettering is experimenting {with growing trees faster. He says he can make them grow as much in

[in four or five years—with plant {hormones, He is searching now to {make the process practical—some[thing to speed up replenishment of our vanishing native timber and {overcome the paper shortage.

"and The Chicago Daily News, Inc.

CROSSWO

RD PUZZLE

Naval Assistant

Answer to Previous Pussle Gl AME DE AREA]

S————

INDIANAPOLIS CLEARING HOUSE

Pentings Bes seuae as raa ann bas ts here reirenbn ssa ease id. i ; - . % sp

salto

417 CIRCLE TOWER

Investment Bankers Member Ohisage Stock achangy

Soya com ...... ess - AR Vl Chae Theater com : 78 RIAIMESTT] ITIL [EE Comwith Loan 4% pid .... 101% 104% | 3 ALL IS ERE TIE EN he [AI ated Industries com 1 1% HORIZONTAL 3 White INIOIOINE el} I TIE Consolidated Industries pfd A 4% : EELER IS [A CIE) ERECTED fl | pews dC EE penne lectronic ab co 2% Vv - yt! IEE) INL ITIRIO! & Inckson RR pfd. 96 99 ta f U.S. ORAL] afi J DIR IA IC] | A ry o : 3 ELELARRTT BT NSUS aoe (EEUTRETEE A850 ptd 51 a i at SN ie el Ind & Mich Elec p\ % pfd.. 108 110i 13 Spoken TIEIREBESION JL] dols P & L ¢ 26% 273, | 8 Limbs EROTM | INA ES indpis P&L4% : pt eee 11 35 Racierium 9 Not (prefix) LLERRLIALER ils Water oid. overs REITER Lo 2 10 Electrical unit 30 Seed “44 Medley Indpls Railways com - shvars 134 19 Fame 11 Be plentiful = 31 Cretan mougt 45 Anon Kingan 4 Co com 100 4% ‘In| 20 Swiss river 12 Sting 34 State 46 Wrongdoings Kingan & Co Bie. PPK 78 82 | 14 Excavated 35 Self-centered 47 Hebrew deity 5% pd ..... 19% 82% | 21 Rasps ; Marmon-Herrington com “.... 7% 8%| 99 Excl ti 18 Railroad. (ab.) person 48 Canine fpooin Loan Co's pra...) | 28 SKC) 26 Put on 37 Harderied 49 Demigod 8| Natl Homes com |. int (ab.) 217 Stay-rope 38 Wanderezs 54 New Mexico N Ind Pub Serv 5% 24 New line (ab.) 5g co letter 42 Veritable (ab.) *N Ind Pub Serv com 25 Rush-like itehi P R Mallory com herb 29 Insect 43 Twitchings 56 Exclamation ‘Progress Laundry Soin er Pub Serv of 29 Apart { Pub Serv of nd Carl .. 96 i : ry Tod G aE vol com 106 x pxterios Stokely-V. " pid shen a 100% pprove Stokely-Van Gimp "tom “tt 0% 3i%| 34 British colony oe pJaute Mal PA sou oh 7% | 36 Pair United Tel Co 6%........... op .. 2%] ‘39 Silver RR “ Sess (symbol) BONDS 40 Negative Ameren Jomm tht 82:1... 81 | ALIn no way Buhner Fertilizer 55 54 ...... ow ay 143 Threw Ch of Com Bldg Shas a1..... $6 . {49 Drone | Columba, Club yaL.iv. 100 3% a0 Phi s title Hamilton Mig Co 6s B6 a o ~ 52 A ; ippine city | Indpla Brass. t Aun 5 56 91 tee |Indpls Brass & Alum 8s MY i 53 Paraguayan | ndpls Railways’ co ss 67 85 90 capital {investors Telephone 3s 61... Te 5 Se he ner P IN Tad Pub Serv 374s 13 +... 108 107 | 58 Coal soatties Buby Serv 3 Jed 3%s 15 106% 107% Williamson Tne " 8 Lin. po : VERTICAL erm Corp 5s 87........ Hie” "0 ” *Bx-dividend, 1 Hydragogs 2 Chemical salt U. 5. STATEMENT ; | men chp nd aces To ema VE OFFER & for e our NAS Docel Jur through Dec. 4 compared THE GEORGE PUTMAN FUND This Year Last Year Expenses ....$15,257,088,256 Prospectus Upon Re vest Receipts ..... 14,638,011,562 HE oo 0s. oa P q 7 Deficit ....... 610,971,604 17,505,115,246 Cash Bal 6,255,283,774 18,204. 669, Pub, Debt... 262381.478,549 270.018.767.801 Gold Reserve. 20,477,228,311 20,028,814,

Lincoln 5585

The analysis said salary and)

d Manager Plant Here

Harry E. Gottberg

designated works manager in August, 1945. He was.born in Aurora, Ind. Also ' a native of Indiana, Mr. Coulette was first employed as a timekeeper at Harvester's Ft. Wayne plant in 1929. He was general foreman when he left in 1941 to come to Indianapolis as second assistant superintendent. In August, 1945, he was made assistant general superintendent.

Robert R. Coulette Jr.

Merger of War

(Agencies Slowed

White House Order Expected Next Week

WASHINGTON, Dec. 8 (U. P.).— |";

The White House ran into new delay today in its long-awaited consolidation of the remaining war agencies. Press Secretary Charles G. Ross told reporters an order liquidating OPA, the civilian production administration and other war agencies would not be issued today. Surviving functions of the war agencies are to be bundled into a new office of rents and priorities. Mr. Ross said the delay was due to difficulties in clearing the order with the agencies involved. Mr. Ross sald the order probably will be issued early next week. Top war agency officials had quit. John D. Small, in a farewell press conference as CPA - chief, foresaw simplification of building restrictions and an early end to most remaining CPA functions, Must Retain Some He said, however, that some restrictions must be kept for many months to come. Specifically, he mentioned inventory controls and restraints on use of scarce tin and rubber, The ban on two-pants suits, he sald, is on the way out. The veterans housing program was to be retained. But it was obviously in for a trimming. How much. and how soon, nobody could say. Wilson W. Wyatt who quit as

Employment of Gl's

| Greatest With GM

General Motors Corp. including Chevrolet and Allison divisions in Indianapolis, employs highet percentage of world war II veterans than any industrial group reported by the U. 8. bureau of labor statistjes, a recent GM personnel showed. The survey showed that 32 per cent of all GM employees are world war ‘II veterans, the company said. Most recent bureau of labor statistics report shows that all manufacturing industries have an average of 18 per cent veteran employment, according. to GM officials,

Baruch Selects His Own Epitaph

LAKE SUCCESS, N. Y, Dec. 6 (U. P.).~Bernard M. Baruch, 75-year-old elder statesman and. adviser to Presidents, has selected his own epitaph, “ ...As I look upon a long past and too short a future,” he said last night to the United Nations atomic energy commission, “I believe the finest epitaph would be: “He helped to bring lasting peace to the world.” Mr. Baruch is chief American delegate to the commission, which is endeavoring to draft machinery for world contro] and development of atomic energy.

housing expediter when President Truman ordered an ease-off from housing controls—warned that the emergency was not.over, ° He told a press conference the shortage of homes will be more acute at the end of this year than it was when the program was

Big Inch Begins | Pumping Fuel gas |

WASHINGTON, Dec, 6 (U. P.).—| Natural gas to relieve the strike caused fuel shortage has started to flow through the Big Inch pipe, line system. But even the most optimistie esti] mates term it no more than a “drop! in the bucket.” The flow started yesterday through the “Little Big Inch” line

daily rate of 50,000,000 cubic feet.

tons of coal—one-tenth of one per cent of normal daily production. Even more chilling to the hopes of householders is the fact that the

gas will not reach its destination in Ohio for at least five days.

Built During War

According to Max W. Ball, ine terior department expert, this mini= mum can be attained only if the | two lines are in perfect condition, Within a few days, an additional | 50 million cubic feet will be started | through the regular “Big Inch” line which begins at Longview, Tex. At

cubic feet of gas a day. The lines—built during the war to carry petroleum to the East Coast— have been leased to the Tennessee Gas & Transmission Co. It wil deliver natural gas to points se-

mission under a temporary agree-

launched last January.

ment running until April 30,

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I PAS HER

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Services for an employee ¢ ©o0. 20 years, ° his home, 373 held at 3 p. 1 & Buchanan be in Crown A lifelong r lis, Mr. Keck the Broad F and the Scott Survivors ir Gertrude 8S. Mrs. Helen uncle, Guern: Indianapolis.

Mrs. C.

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