Indianapolis Times, Indianapolis, Marion County, 4 March 1947 — Page 14

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- moe “INDIANAPOLIS T TIMES |

Real Estate

TUBSDAY, MARCH . 8

ill Inflate Prices |

"Unless: Territory Is P

Shortage Gives Up

Grozing Land

Protected, Improved,

There Won't Be Enough Forage for Animals

terest st Rates si Are Too Low, (FHA Head Says

Exception Made For War Veterans By NED BROOKS

hp.

First of

agasy dried

Jujeia) range act passed ry 1934, the federal government has divided these, together / with. state and private lands, into grazing districts, which it administers under regulations intended to prevent over-grazing and destruc- . tion of. land.

the country, and two sheep out of every five, get about four months of their feeding each year in the public domain. It’s cheap feed. “ For the beef animals, owners pay an average of 20 cents each, per season. For sheep, they pay 4 cents '8AER, Pes Season. Range Overcrowded The federal government has spent $10 million in the last 12 years on improvements to the range. It has

turned back half of these collections to the states where grazing districts are located. But in spite of improvements and regulations, the public range has been overcrowded and over-grazed. ‘During the war no work was done to prevent erosion. The interior department says the

borrowed by the war and navy deneeded.

and the size of herds increase. The additional feed can come only from replacing acres of sagebrush with acres of grasses. An even more serious threat ex-| ists where sagebrush forage is be-| ing over-grazed and destroyed by| 5 rodents. With the vegetation gone, | soil washes away. Soil Washed Away The interior department points to! ‘he Rio Grande basin as an example of what happens when this starts. The soil, where vegetation has een neglected for 75 years, is. beng washed into the Rio Grande “7here it is clogging channels, conributing to floods, water-logging |< .2e rich valley, and filling storage

Last year, President Truman 1erged the grazing service with the! :neral land office, into a new buau of land management. For this *w bureau, the Truman budget 23ks $11,236,400 in fiscal 1048. It wants approximately $2,400,000

ablic lands, $202,400 for improveent of public lands. "Congress probably won't grant « ‘en these relatively small sums. ...But the biggest threat to our fu-| re—and our food—comes-from de-. ‘ands that. the federal government »andon the public domain entire-| ; present it to the states, or let go into private ownership and | ‘ntrol. The National Livestock Associa m and the National Woolgrowers ‘sociation are leading a drive to t the lands into private ownerAp, and they’ have powerful allies.

Next: Will “the west | cur next .dust bowl?

“assengers Booked or World Cruises

SAN FRANCISCO, March 4 (U.

. ‘e~world cruises once again.

roughout the United States ma _‘2ept. applications for the yi

i] President Polk, [2

an No.1. 2

a Series

By RUTH FINNEY Howard Staff Writer

Scripps-Howard Staff Writer WASHINGTON, March 4.-—Gov-ernment authorities disagreed today over the wisdom of lowering in-

+ |

"NEW B. & O. SERVICE—This emblem is the mark of the Baltimore & Ohio's new siding-to-siding service, started yesterday on

Labor——

Fearful of Labor Bills, Unions Keep Eye on States

Legislatures Considered Potential Source of Trouble; 10 Restrict Closed Shop

By FRED W. PERKINS Scripps-Howard Staff Writer x WASHINGTON, March 4.~Union officials are in the unha of the one-armed paperhanger with the hives.

the tide for new union-gontrol laws in congress, they ‘have to keep an eye on the 45 state legislatures which meet this year, Many of them already have adopted ‘restrictive | labor bills. And nearly every state lawmaking body is régarded by union

ppy nx |

While A. ¥. of *L. and C. I. O. chiefs are busy trying to roll back | PUYINg here since the end of the

seems a remote issue.

,| by the end of the week.

One animal qut of every five in|

collected less than this in fees, and |Go04—

federal range is now only about 50 per cent efficient for its purpose. It needs seeding with grasses adapted to each area. Two million -acres

partments have to be rehabilitated. Protection against. range fires is)

There will be no increase in the|$ acreage available as the population re

.2servoirs “at an alarming rate.” . |

r management and protection’ of | 85

). ~The American President Lines Shed a peacetime sigh today—it! “48 booking passengers for -round-

company announced its i

nt Monroe, sailing April 16, and | i leaving here

Toe. ‘and over, 29c 20c, soft, sated

terest rates to ease the strain on the home buyer's pocketbook. Discussion . was touched off by a from Commissioner John 'H. Fahey of the Federal Home Loan! bank administration that interest charges on long-term loans already are “too low to be safe.” Other officials construed his statement as aimed at the liberal loan features of the Wagner-Ellender-Taft housing bill, which Presideps Truman has indorsed. © The sedate passed the bill last

between food and famine. Twenty

Local Hog Prices Drop Off §1

Steers, Heifers: Are 25 Cents: Higher

introduced soon. Last year’s bill provided for Local hog prices dropped $1. t0-/o,vernment insurance of mortgages day after equaling the 1947 peak. 1, u cost homes at 4 per cent of $29.50 yesterday—50 cents short nierect, Borrowers would be given of the all-time high set in October. |gq years to repay their loans and Across the nation prices dipped, ne government would assume 95 from 25 to 75 cents today as in-ine. cent of the risk. On large-scale creased receipts “went to market” {rental propjects, 40-year loans would In Indianapolis, pork chop prices ne insured up to 90 per cent of remained around 75 Sais & pound value at 3% per cent interest. With sume dealers predicung a Exception for Veferans

Locally hogs sold from $28.50 Deri ns» paney declared it was “unhundredweight downward as 6035 0 o5d unwise to fix interest receipts poured into the Indianapo- , tes on long-term loans below 5 lis stockyards. per cent. Lower rates, he said, At fhe same time steers and heif- (would endanger the stability of ers were strong to 25 cents high-| lending institutions and restrict er while calves advanced 50 cents. money available for investment in Lambs ‘were strong with a 50 cents ,, mec higher top price.

| | |

Mr. Fahey made an exception for | veterans, who are enjoying low interest terms under the G. I bill

GOOD TO CHOICE HOGS (6023)

Butchers 5 130- 140 pounds ........... $2¢[email protected]/and the veterans’ emergency hous-140-160 pounds >............ 24.502 28.25 ing act. 160- 180 pounds 28.25 28 40 250 Ie - BR oae30| The G.I. bill provides for 100 per 220- 240 . 28.00@@28.40| cent guarantee of home loans at 4 3) 1 we 13031 as | Der éent. The veterans administra300- 330 27.25@ 27 B {tion has approved 565,000 such loans hol NNaS (for a total government commit160- 220 pounds ............ [email protected] | ment of $1.5 billion. So far only 89 Good loans totaling $145,000 have been 3%0- Nn 5025.00 |defaultedy

2 25a 24. %) The fmergency Jofwing act, which 24.00G24. ) provides $2 billion for mortgage

400- 450 POUNAS ........s.n 23.756 24.50 |insurance by the..% eral “housing ae. 300 pounds ......ee.ee. [email protected]| administration, also fixes interest 250-350 POUNGS +.........ns 18.50823.25|at 4 per cent. Veterans have the Slaughter Pigs | preference to buy or rent homes 90- 120 pounds eons [email protected] | built under the law. The interest Cheick CATTLE (2275), | rate on othet FHA-insured proper700- 900 POUNds ............ 23 [email protected] | ties is 5 per cent. TO Fig Bautial satsiarreans 3400877 30| Inflatio Market SB cavsesrsenann , ] 1300-1500 Pounds .....eeceeees Aug ni nary ay B00 pounds oe. 2150250) Raymond M.~ Foley, national

900-1100 pounds 1100-1300 pounds 1300-1500 pounds Medium

320004 {housing ageney administration, who 33300 24.00 | 3150 is FHA commissioner, opposed

2.00 | {loan-insurang features of the wag-

trae Taanneen

year and ft is scheduled to be re-|

carload freight between 30 citie tinel Service,” this new service who will be in touch by teletype be. told the time their shipments ings of consignee. It will operate L

s on the railroad, Known as "Senwill be supervised by a sentinel with all fast freight. Shippers will will take from their sidings to sidunder regular rates.

trouble.

Balance U.S. Senator Byrd

Must Also Reduce

Taxes, Spending and Debi—

During ‘Present Prosperity, He Says

through

Budget Now, Advises Federal Expenses

expenditures can be reduced. If yo the Congressional Record of Feb. reprint only excerpts, of which the

The fiscal year beginning July 1,

The expenditures recommended are four times as much as those in

expenditures for world war I. It is| $5 billion more than the aggregate | {of all governmental expenditures for the 11 years 1921 to 1931, in-| clusive. I make these comparisons with the knowledge, of course, that conditions have changed. But, after all, there is a limit beyond which we cannot go in spending public money which must be raised by taxation. For 17 years our government has been in the red, and in that time the public indabtedness has been increased from approximately $16 billion to $260 billion. During these past 17 years we have built up at Washington a gigantic bureaucracy.

The hottest issue before congress is the budget. Debate on taxes, spending and debt will continue through the session. The most widely discussed speech delivered to date on the subject by Senator Harry F. Byrd of Virginia. It was comprehensive, and detail>d as to how

By SENATOR HARRY F. BYRD

peacetime fiscal year after the termination of the war.

equal to the total cost of world war I, plus the ordinary governmental expenditures for the years 1017, 1018, 1919, and 1920. The budget submitted is $10 bil-|

the C. I. O. and A. PF, of L. men in Washington.

u wish to read the full text, consult 19. For reasons of space we can following is the first.

in a rash of state laws or constitutional amendments that outlow or restrict the closed shop. Virginia and Tennessee are the latest additions to states with this restriction —joining Florida, Arkansas, Nebraska, Arizona and South Dakota. Also, there are restrictions on closed-shop, contracts in Colorado, Kansas and Wisconsin.

Same. General Idea

These are not predominantly industrial states. But the same general idea has just appeared in Pennsylvania. There a Republican state senator from Philadelphia, A. Evans Kephart, has introduced a bill which would strip unions of power to bar employment to anyone who wants to work. It would strike at closed-shop agreements and high initiation fees. The sponsor says it is not an anticlosed shop bill but is intended to “curb abusive practices and assure equality of opportunity. to workers.” The Indiana legislature recently defeated an anti-closed shop bill, but the measure has been revised

1947, may be regarded as the third

by the President ($37,500,000,000) the year before the war. They are

| legislation, fewer directives, and less governmental interference. with business. We desperately need a simpitfication of our governmental machinery, the elimination of needless red tape and overlapping activites, and a return to the free enterprise system, which constitutes today, as it always has, the chief guardian of the liberties of our people. Only economic freedom, with hard and steady work, will overcome wartime dislocation and start our country on the road to financial stability.

(Next: Government can't sup-

The people of America want less

and re-introduced. The Georgia

rt the people. port the legislature is reported to have a

Cheap Foreign Labor Myth, Business Official Asserts

Less Than Public Has’ Been Led to Believe, . New York Board of Trade Chairman Says

700-1100 88 viiviraiiiia 17.00 1100-1300 pounds kiran N03. 50 ner bill last year. C-1100 1 POURAS. Sha dese [email protected] Although not directly criticizing Chalts- HEIFERS (liberal terms tq veterans, Mr. Fahey

23.50G26.00 | Said overlending “has unquestion3350a25.00| ably “stimulated real estate specu-

od” 310423.50| {lation and an inflationary market.” |

oes [email protected] fa

600- 800 pounds ............ 800-1000 pounds

Cows (all weights) ITEM i Ad am IMEI rs iran t | Cutter afid common ...... :

Bulls (all weights)

[email protected] | {with repayment spread over 40 [email protected] | years. i 2815.00} Howard B. Smith, real estate| 9.00@10:50 | finance director of the American! { Bankers association, told the build- | [email protected] lers that easier credit such as that| 1001 roposed in the Wagner bill “will! 14 200183 (ong to inflate prices further since | [email protected]| additional credit alone does not in- | crease the supply of housing.” Good and choice ............. [email protected]{ - “When demand declines, a liber- | d and medium ...... Culs (15 pounds up) -....... 8301450 alized credit policy might be help- | pi he said. “Under present | | higher prices.”

Feeder and Stocker Cattle and Calves Steers conditions it can only result in 19.50 | 19.50 |

18.0 ————————— .- 180001800 Pyblic Service Co. Asks

sweww To Sell Debentures | [email protected], * The Public Service Co. of Indi-

eef— = Good ( Bis weights)

cedgeentasrrdenrannenss

Medium . Cutter and medium

CALVES

Choice— > 001080 Ponds = pounds... Noo 000 pounds

Common— 500- 900

18.

pounds

SHEEP (500) |ana, Inc, today filed a petition with | Lambs {the public service commission -for Closely SOrted ............... J Broly Sy rem sierseeih 22 |authority to issue $11,077,800 of 15Common "7.50% 11111100 180081430 Vear. 2% per cent convertible deEwes (Shorn) | bentures.

Good and choice

8.000 7.50, The proceeds from the sale and 5.50@ 6.00 | other funds are to be used tA retire!

ct Wer An. the $11,500,000 of Westport Group ‘Asks of tn Of Durie lomh Totes,

lot the company which mature se-| Kiwanis Charter is being filed with the federal se- | ~Fimes Stafe Service

rially to 1955. An application also a -Leuritios and “exenha eomnrissi r GREENSBURG; “Ind, = om i A petition to Kiwanis International

March 4.— = (for authorization of a new Kiwanis U. S. Statements |club at Westport has been signed by EE

‘business and professional men of WASHINGTON, March 4 (U.:- P.).—Government exper | that comunity. xpenses and receipts for the |

current fiscal year through Feb. 28 c¢omLeaders of the Indiana Kiwanis|P*™® "ith & year age: =.

This

Year

Ye district, including Jackson A, Raney, Expenses... $38.514. 5 241 $46,383,902,911 | eceipts . .. 19 ks {of Indianapolis, governor of the dis- | Surplus Sham Maal

(trict, and Jack Rhoades, of Indian- | R¢Mcit

|apolis, past district governor, were present at the organization meeting.

| RETAIL CLINIC SET Times State Service : NEW CASTLE, Ind, March 4.— {Leland Holtman, lighting engineer (from the Public Service Company |of Indiana, will be principal speaker jab the third in .the series of nine {retail clinics for New Castle and |] Henry county merchants to be held =

4 . 983,476, 866 | Cash bal 7,133,877,420 960,900,919 Public ry 261,605,941,876 207,764.369,348 Gold reserve.. 20,329,939, 161 . 20,232,180,171

INDIANAPOLIS CLEARING HOUSE,

Cleatings $ 8,954, 000 ‘| Debits 22,192,000

Thursday evening in the.Y. M. C. A: § topic ‘will be “Modernizing Stones with Ligue. af

Local Cash Grain

Wheat strong; veeeipts, 1 ear Ni red, $2.46; No. I hard, $3.41; No. 3 Ted, 40, 2

A yellow, $152; No. ellow, 1} 1; white bi ) a No. 2 white 92c; Xo. 3 red, 85¢

$248; No. 2 hard, orn—Firm; rcelnis, 96° cars; No. 2 $180: No. 3 white, 415 No 21 rm; receipts, 4 L3 y no receipts: $3.40 oy load Bes hi -b. iy and Liltnots

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champions of high protectiortism., “When the productivity of for- | eign labor is considered, it never was as chedp as was commonly’ { supposed,” he asserted. “Right now {the prices of goods from Europe !and- Asia are exceedingly high.” Low Wage Rates The “cheap” foreign labor theory {was argued “extensively in the | Smoot-Hawley act debates of 1930 and in discussions of earlier tariff measures. The contention was that

{American wage standards would be

{lowered if foreign-made goods— | produced at low-wage rates—were ullowed to enter the United States at low duties. Indorsing this country’s efforts to promote world commerce through the reciprocal trade-agreement program, Mr. Zellers said: “It is up to us to lead the world into trade ‘liberation just as we led them into |trade restriction.” Mr, Zellers is vice president of Remington Rand, Inc. For 35 years {he has lived and traveled abroad {in the interest of his Afirm’s foreign | business. Costs Same Abroad -

“Over these yoars we have found !. 2

it"costs substantially the ‘same tp produce a typewriter abroad as it costs here,” he said. “Other Ameri{can companies with, plants abroad have had the same general ex-

By NED BROOKS, Scripps-Howard Staff Writer NEW YORK, March 4.—Cheap foreign labor, often used as an argument for high tariffs, is turning out to be a myth, a prominent business executive and foreign-trade authority said today. John A. Zellers, chairman of the. international section of the New The . Veterans of Foreign Wars | york board .of trade, said the .competitive . danger of “cheap’ vors 2 per cent loans to ex-G.I1.'s | ghroad” is: much less than the public has been led to

| where,

(the impression of great competitive | (danger is so embedded that it is)

similar measure well on the way to passage. Back to Courts

The Florida constitutional amendment against the closed shop was in the supreme court for a time but was sent back to state courts. Florida progress has been so slow, however, that Mr. Padway recently announced an effort would be made

preme court—probably from Ari- | pr C. 1. O. says that union-shop | tional states.

Eo y Jabs third of the states “legislatures are leve by the considering proposals that in some |

cases restrict picketing, require reg- |

(such as taxes, insurance, trans- istration of unions and even outlaw | portation, supervision and market- the right to strike.” ing. that are much the same every-! So it is the cost of basic mary of pending propositions: materials,” _ Colorado . KU Prohibition of use > of “It would be incorrect to say that! —

officials as a potential source off

The A. FI. of L. and C. I. O. high commands maintain a general watch . on the states, mainly Joseph A, Padway and Lee Pressman, respective general counsels. But because of the wide field they can do not much more than supervise Mr. Perkins. 4p \ efforts of their forcse in the states, These union “home. guards” are said to work more amicably together than

The most menacing attack, from the standpoint of union leaders, is

to get another state law to the su- |

'bans are imminent in five addi-| It says that in one-|

union money ‘for political purposes; public reporting of proceedings in! union meetings, upon request of 10 members, Connecticut “~~ Three judges to function in compulsory arbitration of disputes; outlawing of strikes in

ing public health or welfare, Delaware — Outlawing of strikes against the state. Towa—Provision that labor unions may sue and be sued. Michigan — Requirement that unions incorporate and make: monthly financial “reports. Minnesota—Outlawing of strikes by public employees. Pennsylvania — Compulsory arbie tration of disputes over labor con tracts with Public utilities,

]

Truck Wheat

Indianapolis flour lly and grain od vators are paying per bushel No. 1 truck wheat;~ Ne No. 3 yellow corn, $1.43 per bushel, -and No, $1.50 per bushel; Sh Jeuing 3% Ty pas

3 Jv

or better, 84c per soybeans 14 per cent moisture, 3.

‘Have Dr. Pasrls fit wy with high-quality eyewear that is individually re to suit you.

}

It gives the following partial sum- |

utilities and other services affeot-{

2, i = OF SERVIC

Sales of Houses Here Decrease

The demand for rental housing units is increasing here while. the number of prospective home buyers is dropping, statistics on real estate transfers disclosed “today.

The sale of homes in Indlanapo: lis has been dropping steadily singe Jan. 1, the first slump in house

| War, Files of real estate transfers in the county recorder’s office showed that during the last two months home sales totaled: 3400 compared to 4100 the same two months a year ago. : At the same time requests for rental units is still increasing over the demand a year ago. The decline in home buying is attributed to inflated values,

Marion-Gas City Bus Application Dismissed -

“Application of the Huntingtof City Service Co. for a permit to“ operate a bus line bétween Marion and. Gas City was dismissed today by the Indiana public. service come. mission," A hearing of witnesses favoring the service was held last Oct. 28, A second hearing was held yesterday for those opposing the project —among them Mayor Edward Wert, Marion, and Robert Batton, repre= senting Marion Railways, Inc. Obe Jectors sald the service was not needed. “The application’ was dismissed on request of Robert Smith, Indiane apolis, Huntington City Service Co, attorney.

Gest at

GLASSES oN SREDIT

not all foreign labor is ‘cheap’, but!

hard to get our people to under- | stand the facts.” He explained that his own in-| dustry is in competition with foreign | manufacturers, but there has been no tariff protection on typewriters) since 1913 and American producers are seeking none, In some years,! domestic manufacturers have sold | as much as 60 per cent of their output abroad. Mr. Zellers. said the United States has been “hurting itself by too much indulgence in high-tariff doctrine.” “Our thinking goes back mainly to prejudices formed before 1912,” he said. “Since then the world has changed.” |

oo pm—————

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