Indianapolis Times, Indianapolis, Marion County, 20 September 1948 — Page 7
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Merchants, Banks Dislike Restrictions By ELMER C. WALZER United Press PFinkncial Editor NEW YORK, Sept..20 — In stallment buying received a jolt today. Merchants said the little
the little fellow (Vas saved from himself. The Federal Reserve Board invoked its new restrictions or credit to the purchase of automobiles and a dozen household items. The new rules set minimum down payments and maximum loan values. If you're planning to buy something for less,than $50 or more than $5000, you don’t need to worry, The rules apply only to within those figures. Say you want to buy a car. That's under Group A—new or used automobiles, -including taxicabs. The down payment is onethird. If the car costs $1800 you pay $800 immediately. If your old car is valued at $400 and that's allowed on the purchase, you must put up an extra $200. Payments Climb
Then the balance of $1200 must be paid off in monthly instalments of $70 each. Add finance charges and insurance, and the monthly payment would climb to $80. The rules say you must clean up the monthly payments in 15 months if the balance is less than $1 and in 18 months if it is more than $1000—but in the latter ease the payments must be no less than $70 each, The household items come under Group B. The down payment is 20 per cent. You pay off the balance the same as on automobiles, depending on the amount: due. If you buy. a $200 refrigerator, the down payment is one-fifth or $40. The balance must be paid off in 15 monthly payments of about $10.60 each, Group B covers these items: Cooking stoves and ranges designed for household use; me: chanical dishwashers for household use; {roners for the household; mechanical refrigerators of storage capacity under 12 cubic feet (including food freezers); household-use washing machines. Clothing Exempt Combination units incorporatIng any listed article in the foreping, room unit air conditioners, radio or television receiving sets
suction cleaners; furniture, cluding ice refrigerators, bed rings, mattresses, and lamps; floor coverings with soft surface. : Many things are exempt. A young man can still buy ‘an engagement ring at a low down payment and a long-time pay if Hin Jey jeweler wants to make lenient
Furs and ¢lothing are exempt. ~ A lot of other things are not covered by the rules, including loans for education and for repurposes, home improvea gent, medical expenses and ‘the ®
bocal favo
2 x 0m : STOCKS
sultant on coal and mining prob-
mesen PEEPING Suspect -
w they were walking in the 1200
8 4 girls was arrested in the theater on a vagrancy charge. 8
UN Faced: With Risk Of Russ Taking Walk After Assanbly Opens
Restrictions on Veto May Lead to Bolt; Likely to Be Cited as Menace fo Peace
By WILLIAM PHILIP PARIS, Sept. 20—The ‘pens here tomorrow in the
Howard Foreign Editor
United Nations General Assembly de Chaillot against the darkes
vorld background the organization has faced.
If the Kremlin ¢ontinues to stall on the problems of Berlin Jermany, and central Europe Russia is almost certain to be
36d Rete 32 2 menace to World peace.
is
GOES TO LONDON-—Rob-ert P. Koenig, president of Ayrshire Collieries, will serve with the ECA in London.
» . = ® bring "Robert P. Koenig [= Sounding Most United Nations members —particularly the United Btates, Britain and France—want Russia
to remain in the organization. That's why they have striven to
Gets ECA Post
Consultant to Sail For England Thursday
Ayrshire Collieries Corp. here, has been named a special con-
lems to the Economic Co-opera-tion Administration mission in London.
sail from New York for England Thursday. He will be abroad for approximately a month, working with the ECA both in the British Isles and France. In addition to his duties with the collieries Mr. Koenig has been serving as chairman of the National Bituminous Coal Advisory council to the Secretary of the Interior.
Shotgun Wounds
One alleged “peeping Tom” was in General Hospital with severe shotgun wounds in his hip and police were searching for other suspects following a series of attempted attacks on women and children during the week-end. A suspect giving his. name as John Calvert, 19, of 2412 Parker Ave, was shot by Claude E. Fly, 3015 KE. 23d St, who said he opened fire with his shotgun when he found the youth peering into his windows. * “I saw a man in my back yard, and got my shotgun,” Mr, riy|U
est session.
gression. Western
co Robert P. Koenig, president of United Nati
It is fully realized that Russia,
Th po ¢ Ihdisnapolis coal man willl} I ct ot tt "Detter to Jot her do
that than to But the United Nations can follow that policy only so far. There is a limit beyond which it cannot go without risking destruction of the organization itOnce it becomes unmistakable that Russia does not intend to co-operate to establish world peace and order, then the rest must act accordingly, they like it or not,
self,
Should that happen, and if she cannot veto further United Nations action, she is likely to do as Japan and Germany did when the League of Nations took cog-| nizance of their walk out.
Aggresive Acts Almost daily, Russia is
daily
becomes The United Na
ations itself. Board
has used it entirely
ing board for her own propagan-| da -and has vetoed practically sveryiling the majority has pro-
sed. Even so, most nations
pull out.
Close at Hand
That phase today seems close at hand. - Already, small groyp. within ‘the United Nations convinced peace will remain a mirage as long as the Kremlin can block action. If the Kremlin persists in the future as in the past, this minority soon will become & majority which will insist on going ahead with Russia if possible, withouf her if necessary. The coming sessions of the United Nations need not necessarily be one of life or death, but it may well be the turning point of the United Nations.
there. is
the
“1S: Statement
aggressions—
Thus, the United Nations is fac‘ng its most difficult and stormiIf ever an issue was made to order for the United Nations, the East-West dispute it.. The whole world is paralyzed lest war break out.
committing acts which under her own |definition constitute acts of ag-| And years of patient, painful effort on the part of the acies to reach an accord are worse than fruitless. The danger, instead of lessening,
, finds itself between the devil and the deep. Failure to act to head off the peril might destroy whatever prestige it has. Vigorous action y in the Assembly after the Soviet S ike veto in the Security Council would the crisis Within the United
whether
world
‘Western Electric Co. empl Speedway City. Western Chicago.
0.5. ther a.
An 1l-cent hourly wage increass negotiated last July has gone firto effect at the U, 8. Rub-
ber: Co. here with the signing ofly 1050, with a supplemental agreement by the|ing the option
LINE FORMS—This is part of the line which formed carly this morning as the t office opened i in the former Prest-O-Lite building, |
ctric is moving an entire
{company and local union officials, The agreement, reached with the United Rubber, Cork, Linoleum and Plastic Workers of America, CIO, is for three weak vacation ‘with pay to all roduction and maintenance emPr with 15 years’ seniority covered by agreement. New agreements are retroactive p to June 28 and effective to July th hold
TAKES SHORT CUT—Cleve:
funita, a Jpsvisiael In Single). TAKES SHO As he became bigger and bigger | oo And ooo
igge in his field, Mr, Darah got out of
d specialized reoltor found a short cut to the
answer. He Ha. bovott old househ them modern,
made ang many cases ‘sold them. ri back Joh the Jaranisti Hie Hob on town studying the Indianapolis redevelopme ls
the selling business an in reclaiming houses.
nt program today. Proper Iedecbrution, ‘and Jt nest Tap ior Din pros part of the a yy
plant to Indianapolis from [town It's o Terrace, about
wage issue once during the CIE a going concen.” Be of the contract, own hy neither | “with Tanutatturing
party may open prior to May 1, 1040.
Directs Program Tom Sinclair, community service chairman of Rotary Club 58, will. direct the presentation of a program called “Oportunity or 1048" at 12:15 p.m. tomorrow in ihe Riley Room of the Claypool otel,
to reopen the
a
said. “I went around the back of the house and saw him peeping into our bedroom window. “I ook good alm and fired. He
WASHINGTON, Sept. Sept. 16 compared wi
20 (UP)~-Govern-ment expenses and teceipts for the current fiscal year throu ius a year ago’
she screamed. Two girls, eight and niné years old, said a man molested them as
block, Udell St. yesterday. Three girls reported a man at-
house and the assailant fled when ners I
4% Ibs.
Eggy—C 38¢; “Grae A lar
5 Yea Las Expenses § 740%,494 200 § 3.180.74 814 ran toward the alley but fell Rectipts 143.820.004 130.0 1,737 down. I held him there until|cgy Baiance 965.446.0800 2.747.895,303! police came.” Public Debt ~~ 261,905,885.634 268,008, 344,408 Mrs. Nell Reechy, 1631 N. Park Gold Reserve 23.856,062,118 3},887,235,902 Ave.; said & man grabbed her as she was walking up the steps at Local Produce her home last night. She said : she jerked away and ran into the| Poultry — Springers and broilers. 33e:/
8., 360; cocks and stags, and over, 3lc; under “%
and leghorns, 25¢; Neo. 2 poultry, 4c
than ba A
urrent receipts, 34 Ibs, 6, 48¢; Grade A ; Grade
Buttertas_No, 1, 68c; No. 2, 8bc.
30c; springers over 5 hens, |
to case,
large, 380; ne grade,
be loss)
me-
tempted to molest them in the Mecca Theater, Noble St. and Massachusetts Ave. last night. A 27-year-old man identified by the
J%- 30 vounds, , pounds ... 380< 400 pounds ....
pounds csiveieinia. roo 50 Doinds Yas
Medium 2
Local Truck Grain Prices
No. 2 red wheat, $2.08. No. 2white corm, $1.76. No. 2 yellow corn, $1.81. Jonts,
No. hy s New No. 2 yellow soybeans, $3.32.
:,LOCAL LIVESTOCK
26.50032.00 [email protected]
3% Va Sept. 17 Cutter and common [email protected] 3% GOOD To CHOICE moGs (wi) ge 10] 120- 140 50 26.00 to ? o| 140- 180 Hikain Common to. medi 1 2082.40) ‘2 180- 180 29.50930.00 (Culls (15 hs. ‘up) . he is 1 180- 200 [email protected] ih ia og ESE ACSI a8e eck vi ant Oat 3 240- 210 Ba.2 Choice. aed te . | 270- 300 [email protected] 500- 800 POURED .iive.veii.. 3B.00030.00 eo 104 | 300- 330 pou [email protected]| Good— oily van Camp co an in J. 30 pounds 28.00@29,28 3m VOUDAS ..cosvevnee. [email protected] -Van Cam k = vg ne Sh : 9is 10% 160- 230 pounds ............ [email protected]| 500-1000 POUDAS «.uivvsvass. [email protected] 8 Machine som au ow Ha Packing Sows Ooo . fon" Title com aera 2 Lolood 16 oholtes pounds . “a [email protected] 270- 300 pounds ¢
50- 350 pounds [email protected] Pigs Mea um to good = n ciennrsanes 33.508325.00 cecil! 3100923 50 . $0 ie 2 cola hem 000 9.50 $a 23| Common and medium .....,. 8.00% 2.00 ‘wwe fl mies CLEARING ROUSE 0 : . 3583550 DIOLS ©... hess aivied hike stead 25,408,000 900-1100 pounds ..... were. B00@sLo0 Terri to O | 1100-1300 Vetssuieins . Monge SCATING pen | r fe : 700-1100 pounds .. [email protected] Early Tonight ! The Zaring Theater will open Foo- 800 Pounds oii... $ 0a 30 minutes earlier tonight and 400-7000 POUBED iuiiiiirin [email protected]| tomorrow for the current show- | 600- 300 pounds ............ 30.00935.00 ool ing of “Best Years of Our Lives.” 200-1000 POUDAS ..0cvarersss 30.00G35.00) Academy award winner of - 500- 900 DOUNAS .vvesensnses 22.00030.00 oy he Kis will be s, Shows at| . - ! 130 and 9:40 p. m. wv dans wah 00 eo. 900 vg a a [email protected] | oil) be open at 6:15. [oct Bg Ts vers pRoum . oe na commen... 16.30830.00, 9ponsor Card Party Ca ie TAR ete, [0G1656 ‘The Women's Auxiliary of the | Boet— tan Neighte) Indianapolis Street Railways ; Good (all weights) .......... 23.500 24.50 Union iva will sponsor: a tard y al p. m. tomorrow its Mdium 1.10% 000, e@ibe hall, 128 W. Ohio St.
($3,210,549 in 1036and $10,378,793 in 1947), — yo tikes coal 63% million dollars? A coal bill that represents an increase over 1936 of 206% ; & Ce! by a price rio from $4.14 ton 0 80.29 and an increased use of 50,000 ons annual?
Price rises iicreases in the cost of living—are not news to today’s householders. = But when such increases are NOT reflécted in the price of the 2 eka fi
The answer to this unusual situation lies in the fact that the Gas Utility makes other * things besides gas. By-products of the gas-making process, such as coke, tar, ammonium sulphate, etc., are sold on the market for all they are worth—and thus: - —up to now—increases in the Gas Utility's cont of living have been absorbed...
Today, the Gas Utility is one of the largest producers of foundry coke, accounting for . 10% of the nation’s supply. This is the most profitable of by- products, and » "carefully developing the foundry coke market, the : Gas Utility has maintained gas rates to the general user at 1936 levels. In that year, two rate reductions went into effect, and since that time, the sayings on your gas bills have amounted to over 154 million dollars.
That's a good job in anybody's language. You can credit a group of loyal, efficient employees, who take pride "in their work and a “business’’ management that does its level best. to give Indianapolis gas service that is tops.
i
jo If you saw such a ries Po would velit wR fie oi i Ah low whistle, Sure, the figures are big, too—but when the price of an tam incresaen ove thre tiugt-~iFA nly: ime 6 Whiki,
then you have a newsworthy item indeed.”
A,
ine chart of the right pictures the increases In the cout of payroll, oil end cosl.
GAS % COKE UTILITY
Orv eB of Bc fo Dm Pi he Ts
na ii