Indianapolis Times, Indianapolis, Marion County, 27 December 1946 — Page 4

loyers Without Profits Mean Workers Minus Jobs Real ‘Bosses’ of Industrial Labor includes Millions of Stockholders

Decision Might Delay Action By Congress

Second of a Series.

By EDWARD A. EVANS Seripps-Howard Staff Writer

WASHINGTON, Dec. 27—Samuel Gompers, one of American labor's greatest leaders, said that the worst crime an employer could

his workers was to fail to earn profits,

commit ag sper Green of the American Federation of Labor, who holds that unions should not seek to eliminate profits or restrict them

Attorney General Sponsors Proposal

By EDWIN A. LAHEY Times Special Writer WASHINGTON, Dec. 27.—President Truman is considering a proposal to appoint a commission of experts to study the need for new

to fixed ranges, says: “Profits are the incentive of employers, not because employers are avaricious but because money is the key to other opportunities.” Most C. L QO leaders «~~ there

Hogs Drop $1.75 At Stockyards

$22.25 Is. Top Price Here

unions where ¢ Communist influefice is strong— ©. also believe that ! profits are neces- : sary. price of $22.25. 4 President Philip Murray and Mr. Evans others are saying much just now about “lush,” and “swollen,” and “fantastic” profits. Their words may tend to create the impression that they want to abolish profits, but they don’t. i Douns They know, as well as Mr. Gomp- | 200- 20 Pounds --- ers did and as Mr. Green does, that | 240- 270 pounds employers without profits would | 300° 3% Bounds mean workers without jobs. | 330- 360 pounds Millions of Stockholders They know that the real employers of industrial labor are not just the officers of big corporations. They are the millions of stock- | 290 4% bounds ... holders whose invested money, «oo- 450 makes it possible for new enter- | edie

{ 250- 150 pounds prises to start and established enter- | BS shies Pigs | Medium to Good— that too-low |+ 90- 120 pounds CATTLE (1000)

vealers gained $1. steady.

GOOD TO CHOICE HOGS (8125) Butchers 120- 140 pounds ........ 140- 160 pounds

| Medium— | 160- 220 pounds . “a Packing Sows Good to Choice—

270- 300 pounds 300- 330 pounds ... 330- 360: pounds ...

pounds pounds

[email protected] | ANY drastic proposals for new labor [email protected] | legislation, is believed to be agree-

us ua Whether corporate Ie ones iii too high, as charged by C. 1. O. Good leaders who demand large wage in- | 700- 900 pounds creases without price increases, 15 | 1100-1306 Dn another question. To form a fajr 11308-1500 pounds judgment about that, it is necessary | Medi sounds to recognize certain facts not em- 1100-1300 pounds

{ie | Common— and his | “00700 pounds

i Heifers Profit-Loss System i 300-3 pound: One is that the so-called system Gocd really is a profit-and-loss system. ! - unds Even in the best of times a big share | = " POUNCE of the new businesses started die in| se. 900 pounds infancy. Those who put money Into | Commer uns them 18se it. And even the biggest! a (xh weunin Sitpery tions aren't always profit- | Good a Lak able, | um : § 4 The ©. I. Q.'s: Nathan report cites Canna an’. sommon the years from 1938 through 1939 as! Bat Bulls (all weights) a period when corporate profits were Boos (aii weights) ample. Buf jn. each of those s.usageyears the number of corporations “in; Good Re >arger tan the number Medium id comgpon n , ~~ " ALVES (32! Never, in any recent year, have ..4 and es wm more than §7 per cent of all corpora~| Somomon, ahd medium . tions operatéd at a profit—only. 18|¢ 40 Le BA! ona per cent of them did in 1932—and, | Steers on the average, about half of all] Sho %0 corporations lost money in each year | 500-1050 from 1916 to 1942. 500- 800 Takes Considerable Risk ay So the investor who puts capital | Common {oto a business or industry takes| 500- 900 iris ge oh a considerable risk of losing it or of | tae getting no profit on it. | Closely Sorted HO an olce I he sees mo fair prospect of 8! Medium and good good profit, even in a good year, he'll Common Ewer (horn) put his money into something less| Good and choice 3 { Common and medium Anotiver fact is that the corporate = profits which Mr. Murray says are| now so “lush” aren't all in one big pot. A few whole industries, and many irdividual rations, are| Ne ene: losing money. Others little more A than breaking even. Aes Ph oor Still another: The margin between

14.00@186 12.25@15 9.50412. 8.00@ 9.

15.28@ 16

14.25@ 15 12.50@14 9.50912

27.50@ 30 13.00@ 27 7.00@ 13.

ssssvannsran 16.50@17. . 16.50@17

14.00@16.

23.00 20.50@23 15.50@ 20 12.0015 5.50@ 1 5.00@ §

Local Issues

napoils

Sherican States Fe merican States cl A production costs and selling prices L 3 Sires 42% ptd is much narrower in some industries| “Beir ® Str Yds. *Belt R Stk Yds pfd.......... some companies than in others, Bobbe-Merril an Trl obbs-Merr com 0 Grant Hourly Wage { Central Soya com.. 4 If all are now compelled to grant | Circle Thester com. i n 9 hourly wage increases of approxi-| consolidated Industries com.. % mately the same percentage, many Consolidated Industries pid... 4 concerns with small or no profits or| Delta Electric com oi 2 | Electronio Lab com . vies @Y with naftow cost-price margins will| p wayne & Jackson RR pid. 96 be squeezed out of business—and Bo Obes eh Pid... a3) co: Kener O5 with them will go jobs and wages.| nd Asso Tel 0 3 “pd hl Mr. Murray says C. I. O. unions hd Mith Elec 4%% rd. 108 will consider these differences be-|iIndpis P & L 4° dn | Indiana, 8s Water pid..... tween industries, and between COm-~ | Indpls Water cl A com....... 3

panies within industries, in making |Indpis Railways com ......... their demands for a new round of | Kingan 4 Co QOL-2 svn ters ingan o pid . wage increases. | Lincoln Nat Life 5% pfd.... But that 1sn't the way the C. I.|Marmon-Herrington com... I» - 1 ©O., with its stress on industry-wide | Mastic BE »% pe. “ bargaining {Natl Homes Jars , has operated in the | *N ma b'serv | n Serv com It may have difficulty now In| progress Laundry com . . 34 ; persuading’ the members of Some Pub Serv of Ind com ..... ... unions to be satisfied with smaller dy a BR oe id ks raises than the members of other 80 Ind G & E 4.3% pd .... und indeed, it tries to per-| Storey. van Camp pfd

: Stokely-Van suade them,

*Terre Haute Malleable ...... the : *U 8 Machine com e's Plant ‘Announces Machine Tool Sale

United Tel Co 5% *Union Title com - ¥T. WAYNE, Ind, Dec. 27 (U. P.).| different types of machinery valued at $2,500,000 went on| sale toflay at the General Electric duster Crown a arsed Co. supercharger plant here, | Indpls P&L es. 0. 5 " 208%

sale machin i Indpls Rallways Co 58 67.. 85 The fr e tools is open Ind Asso Tel Co 3s 15 101

without priorities, | [uyestors Telephone 3s 61... 98 uhner Packing Co 4s b4... B Adams, regional director Ind Pub Serv 3%s 13..... ve ts administration, Pub Serv of Ind 3%s'7s..... 108 e 3 Ranvains on a “first come, | Williamson Inc Ss 58°... 01 Lo» he said Trac Term Corp 6s §7 95

conducted from! TL vidend. ee ally except Sun-! : : illy ASHP So. Crack Train Derailed MANCHAC, La. Dec. 27 (U.

BONDS American Loan 4's 60.. American Loan 44s 58 Buhner Fertilizer 5s 54....... Ch of C 4%s 61..... 96 Citizens Ind Tel 4%s 61.. { Columbia Club 1 Consol Pin 5s 66 ... Hamilton Mfg Co Bs 56 flooster Crown 5s 56 ot

1 1

~ ~Two cars of the Panama Limited, system a train to New Orleans, were derailed No, | Six miles from here today at Ruddock, La., but no serious injuries

inbound Illinois Central

lls’ and grain re pay bushel for wheat; nev Wo. J yellow corn, $1.19 nd No. 3 white, $1.32 per Bg 34 pounds or better, | Were reported. A few passen

soybeans, | ahoard suffered bruises.

JE ON BEAUTY SERVICE

® FACIALS

SMANICURES 8

vision and Modern Equipment

342 E. bauty School *“\% 1%"

Hogs dropped $1.75 today at the Indianapolis stockyards with top|

Cattle market was steady while | Fat lambs were

.. [email protected] : 506 22.00

\. [email protected] . [email protected]

[email protected]| agsary td relieve the pressures of

law, 13.50G20.00| gecretary of Labor Louis B.

BN able to Mr. Clark's idea. . [email protected], mission by Mr. Truman on or about

15 a7 50 the date of his “state of the union” 19.25923.50 address to the new congress would

[email protected]

22.506 27.00 [email protected]

14.00@ 18.50

and Calves

Nominal quotations furnished by Indi- , Bid Asked 3 7

357% Mont.) k Yds com..... 33 36 0

38 6 9 102 4 16 3 99 a M% 52 110% 30 110 22

44 96 | The amount of U. 8. coal sent |

2 Camp com...... 23% 25%

9 103 ”

labor legislation. Members of the cabinet have urged the President to appoint| such a commission. The idea has progressed to the stage where the names oM prospective chairmen of the commission have been discussed. It is not known i whether the Mr. Lahey President has made up his mind on the idea, bul informed sources said he had not rejected it. In his message to congress during the railway strike crisis last spring, Mr. Truman urged congress itself to launch a comprehensive study of the federal labor laws and policies. He urged the making of whatever structural alterations appeared nec-

| labor-management reJations. Congress did not follow this suggestion, | however. Schwellenbach Willing Attorney General Tom Clark, it is reported, has been the strongest {cabinet proponent of a presidential | commission for a study of labor

| Schwellenbach, who is opposed to

| ‘The appointment of such a com-

1850@22 50 to permit industry and labor to|

without government kibitzing,

Organized labor, although it

11.00914.90 | could get all its close friends in

50! thE 80th congress into a rowboat, oo | meanwhile is building fortifications 35 for an attack. | William Green, president of the { American Federation of Labor, is] expected within the next few days | to summon an emergency oonfer-| ence of more than 300 A. F. of L.! leaders, representing the interna-| tional unions of the federation and its state and city central organiza- | tions, The A. P., of L. leaders will gather | so I Washington about Jan. 5 or 6, | 50 chiefly to remind the new congress |

25 00 2

00 50 00

[email protected] | that their seven million members|

50 still are a powerful organization.

pounds ....e...... 12.508:4.00) The expected A. F. of L. “march | 100091250 On Washington” is unique mainly |

because this type of demonstration | {is usually associated with the “Ioo love-a-parade” type of organiza- % tion, from which the aged and circumspect leaders of the A, F, of L. 20 are not prone to borrow ideas, | A joint dinner also is planned in | | Washington for Jan. 8, at which | leaders of the A. F. of L., the| {C. I. O. and the railroad brother-| {hoods will discuss with their handful of unswerving friends in con‘agress the technique of defense

"...|against repressive labor laws.

Senators James E. Murray (D. Robert F. ,Wagner (D IN.Y.) and Claude Pepper (D. Fla.) | | will be among the hosts at the dinner. |

Europe to Nee

i's

Ya | |

| dent of the Coal Exporters Associa-

2 | BE aD Bary } 20% {tion of the U. 8, Inc, predicted to- |

5% | day,

2 |Overseas during the year will be 3. limited, however, by our coal supTo | plies and railroad transportation “iduring the first quarter. For the balance of the year it will be limited

... |operations,

amounts after April 1,

oh to our overseas customers,

98 . A tries to finance their puréhases,

Coal Strike Affects Idle Ft. Wayne Plant

P).

ers 8 employees,

The company,

its supply of gray A. EB. Askerberg, president, Mr,

lack of. 1 shortage.

More U.S. Coal

WASHINGTON, Dec. 27 (U, P.).— |

3% | Burope during 1947 will need all of |

581 | the coal the U. 8, can supply, and! more, too, Charles A. Owen, presi- |

FT. WAYNE, Ind, Dec. 27 (U. P.). ~The Horton Manufacturing Co. here suspended operations until Jan. 2 as an aftermath of the coal strike. The suspensign will idle 250

which manufacures washing machines, exhausted iron castings, said. Askerberg said the ~company supplying the castings has suspended production also because of] caused - by the coal}

NUBACE

__ FRIDAY, DEC. 27, 1946

To Study Labor Laws

NATIONAL 24-HOUR FORECAST SUMMARY: Winter storms and overcast skies are pictured for large areas of the U. S. tonight. (See FOTOCAST for details and affected areas.) Snow or snow flurries are called for in the northern states from the northern Rockies eastward to the north Atlantic states. Much of this precipitation will occur as the low temperature of invading air from Canada brings considerable moisture from the air during its journey south and eastward. This will act to eventually lower the humidity of this air, causing it to be come quite dry, especially when warmed indoors. Since this condition of the air cap prove irritating to the nose and throat, it would be advisable to provide a healthful amount of moisture via radiator pans. This will help prevent head colds, according to the weather and air conditioning experts. High winds in the north-central states and western lakes region will cause’ blowing and drifting snow in the areas of snowfall, This will impair visibility and slow travel, in the upper Mississippi and

Volume may be limited also by the ability of the European coun-

| | | USE

Missouri Valleys. Storm warnings have been hoisted over Lake Michigan and local blizzard conditions are expected in eastern North Dakota and northeastern areas of South Dakota. Wisconsin and upper Michigan will have

3 to 5 inches of snow, while 3 to 6.

Official Weather

United States Weather Bureau (All Data ip Central Standard Time) —Dec. 27, 1946—

Sunrise..... 7:04 | Sunset

Precipitation 34 hrs. end. 7:30 a. m Total precipitation since Jan. 1 Deficiency since Jan. 1...

The following table shows the temperature in other cities: : Station

Cincinnati Cleveland .. Denver Evansville Ft. Wayne - Pt. Worth .......... Indianapolis (City) . Kansas City ........ mi . ane . Minneapolis-8t, Paul New Orleans ...... New York ..... Oklahoma City ah.

Washington, D.

inches are foreseen in central and northeastern parts of Minnesota. _ A cold wave in Montana and the Dakotas will drop temperatures to between 5 and 15 degrees below zero, by tomorrow morning. And, it will be much colder in the western and lower Lakes sector. Conditions will warm up a bit during the night along the eastern seaboard in the middle Atlantic states, as a warm front moves northeastwfrd. This will modify the temperatures of Philadelphia, New York, Boston and adjacent areas. It will be coid, elsewhere in the nation, except for the southern states where warm air is circulating.

U. S. Statement

WASHINGTON, Dec. 27 (U. P.) ernment expenses and receipts current fiscal year ough Dec. 24, pared with a year ago: This Year $17,650,260,6 B 17,83 5.831, 3 us o Cash Balance 3,622 Public Debt 250,241,483 Gold Reserve 20,52 *Deficit. :

Last Year Expenses Receipts

278,547,385, 0,006,376,

INDIANAPOLIS CLEARING HOUSE

GUARANTEED SAVING

UR COATS

CHARGE, BUDGET or LAYAWAY

,) ~GovJor the com36,195

*17,893,363,603 26,174,064,948

Truman Reports On Lend-Lease

$10 Billion of Total Outlay Returned

By MERRIMAN SMITH United Press White House Reporter WASHINGTON, Nov, ‘27.—President Truman today reported a return to this country through Sept. 30 of more than $10 billion on a total lend-lease outlay of $50,602, 109,000. The return figure included reverse lend-lease, cash payments, sales of goods, and payment made or to be made under final settlement agreements with recipient countries, The Presidents disclosure was made in the 23d quarterly report to congress on lend-lease operations. The quarterly reports are required by law. Because congress is not now in session, Mr. Truman's report was delivered to the clerk of the house and the secretary of the senate. Not Measured in Dollars Mr, Truman said post-war sales of lend-lease equipment under agreements thus far with 13 allied nations had realized for this country $1,200,000,000. The President sald that the values of lend-lease, the supply system by which this cotintry aided its fighting companions, could not be measured in exact dollars and cents. In a letter of transmittal he told congress that: “Although the value of lend-lease can never be satisfactorily measured in monetary terms, I think it should be noted that return to the United States from lend-lease, Sept. 30, 1946, exceeded 10 billion dollars, including reverse lend-

in inventory or procurement.”

Spent Before VJ-Day

through

Local Briefs

George H. Chapman Woman's Relief corps 10, will hold a lunch~ eon and exchange of gifts at noon Tuesday in Ft. Friendly, 512 N. Ile linois st. ¢

Flight ratings announced ‘by Ros Turner Aeronautical Corp, ! include Miss Betty S. Comnett, Ine dianapolis, solo; Leonard Silver man, West Lafayette, instructor,

ton, instrument. The annual Christmas party of Major Harold C. Megrew auxiliary

will be held at 7:30 p. m. tomors row in the Y. M. C. A. Mrs. Agnes Wiley, newly installed president, will preside. Hostesses are Mrs, Elizabeth Gwin and Mrs, Josephine Hanna.

A memorial meeting in honor of the late James A. Collins was held this morning in the court house.

The annual meeting of the Ine § dianapolis Humane Society will be | held at 7:30 p. m. Jan. 6 in the | Holliday bldg. Oliver L. Fevrier will preside.

| Hoosier Dollar Sales Up 32 Pct. in November

Times Special

in 20 department stores gained ay

1946, and 27 ber cent over November, 1045, was Shown in 227 Indianapolis retail stores.

lease aid, payment made or to be| ———

made under the final settlement agreements, and the sale of supplies

When the lend-lease program was country under in wartime operation, the three big- |amounted to 61.9 per cent of the gest recipient nations were the Brit- [entire American expenditure for §§ ish empire, Russia and France. The |lend-lease. Russia got 223 per § #00 | pritish empire, through Sept. 30,

{got $31,392,361,000, Russia $a b {883,000 and France $3.23 8

Most of the money was |.

Lend-lease for the most part isis... VJ-day—95.8 per cent\bplors now a dead government operation the war ended; 4.2 per cent concerned primarily with liquidating |... over. y and cleaning up straggling details.

patter it Money and goods received by th

British empire received from this ; the

cent.

Double the value of your Christmas money

by investing it in a Fur

Coat from

INDIANA'S LEADING FURRIERS!

S ON ALL

**+: {the East, Mr. Owen qualified. ***| During early 1947, supply will be | «++ taken principally from our “strip” he But deep-mined coal * |should become available in greater with the quality of our export coal thus becoming better and more satisfactory

VASSAR CUILD SPORT COATS AND AS ER

A SMALL DEPOSIT NNN YOUR SELECTION

the past president’s club of the | |

3, United Spanish War Veterans, ! |

WASHINGTON, Dec. 27—Dollar i sales in 1014 Indiana independent,

Bl FRIDAY,

and Dalbert C. Miller, ‘Blooming. » |

retail stores in November were up « 32 per cent over November, 1948, ac-k : cording tq the census bureau. Sales §

per cent in the same period. a A gain of 4 per cent over October, LL

program

600 Prs

Disces and Sizes

120 Prs

Eveni Flat |

975 Prs Popul “StylSizes

Sandals : and blac} group, |

COR!

Reg. $5 Reg. $8 Reg. $5

Reg. $5 Girdl

' Reg. $2

I Wool M; Corduro Lined a Reg. 2.