Indianapolis Times, Indianapolis, Marion County, 2 January 1949 — Page 41

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affs | Tumof the Year— As Dopositors Rushed Year's Deadline

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RSHESS pr cSidant o Make “| rronicm for Decision for Business . New Congress ’ Truman's Message to Congress will 5

Fr ig Drop in Business 2ncy ~ R ” Industry Pleasantly Surprised; “| 1949 Outlook Uncertain

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© Cut More Than Government Policy ; ; : : Form of Taxation | Sr BYE A LIVINGRION ® fon By HAROLD H. HARTLEY, Times Business Editor : By iy . ‘ 5 | BUSINESS MEN have been going over their figures Is Vital Issue | WHEN, THIS WEEK, In Mesags to Congress, Presis 5 ith proposals for LN "The fig . ; ; . Sob dn ei i uestion, 1040 “oel'your bottom [OF the year. The figures were amazingly good. They had [po AmnEIO San. he ly to bo a year of inflation, deflation, of a Standoff?" y and ability is expected to do wdrse. They looked for the big dip. It had Democrats who take over Con. likely to be a. year o Bom, Ce A OL, OF A te h M. Kunkel. ~ . not come. So they pushed it over into the new : gress in January are going tohe will be outlining not only government policy but also who waters the . . . : ch year, face the “problem”..of. big busj- igi f . # oy + marked it on their mental . - BOB a yo Fr : he | be making decisions OF corollary, he decides that the gov= Ee Pe calendars, crossed their fin- ee and, aut meant Is it too big? Poes it make businessmen Land 1abor ernment must run a budgetary . pers have until gers, and prepared to shove|doing a customer a favor by sell-| too much money? is it a form leaders. He can't help it. * surplus 80 as to reduce the nas lete their seacon. . 3 dr soon, 0 ling goods, taking his money, of ecohomic fascism * Suppose, for example, ‘that the tional debt. And suppose, furs Interest off into the uncertain 8€as s mudh of it as the tariff would Some embers. Of Congress, iq. weighing all the pros| ther, he recommends a tax ins: hi it judge. of of 1949. “ ee bear. They were getting around)" : ay Te 0 there questions. and cons, decides that inflation- crease on corporations. Immese » now Nearly every business’ wound up|to the point where they had to

y, 4 use its taxing power to control|ArY forces are stronger than de-|diately all business must take cuit. Court, leaves x record of service

the growth and shape of Amer. Tlationary. forces. - Suppose, as a stock.

ican enterprise. : A AQ Can the higher taxes be passed along to Men who run some of the vig- 1949 VS. 1948 consumers in the form of higher prices? gest American businesses re- Will earnings for the year be reduced? And how much? Further, cently have appeared before a will the company have to retrench on certain plans; such as bunging - : Congressional committee to talk 5 new plant, installing new machinery, increasing inventories, etc about this. Their testimony has In some cases, certainly, higher taxes will cause—a change in {turned a spotlight on what's been |psiness plans. Companies which

with a bigger gross and bigger|convince their customers of the profits. But business men had superiority of their products. detécted britke pressure from Oc-|That meant selling effort, a tober on.. Materials had sudden-|factor which had been absent ly ‘become easy to get in most from the business picture since lines. Supply was getting in bal-{1041, '

of, _e Sell effort means price “compeHow to Cut Prices Seine And here business found

Indianapolis business firms and other bank depositors rushed the deadline Frida

RL) get: their ‘happening. It is this: Lo And ' demand - for automobiles, prices : : Ras +h : : {have been counting on 1049 earn- . ies auging by the seat of their Juris on 4 picket fetice, Bumed} accounts in order before the end of the year. Banks, such as the Indiana National fshown above), | Enormous Profits tgs io finance expansion might/housing and most utes gods Jab a” Wages do Hot drop jsasily. Sa they Began Joven Bly ways were prepared for the last-minute rush of customers who yore anxious to close Sheie bools before Measured by "earned income, decide to put off its projects. Andi at oll a telt ¢ , minutes were a little heavier this year in all banks. big business post-war prafits have there's the rub For this New| “280 } no ih et I Wa fe: —) yearend, A Yearly SecuToneS: = Y 4 been enormous, But dividends Year the economy is far more; SAE¥CRRI fied shout expanding ree me bought more labor-sav-|" g, hard-pressed are some busi- On the Farm : : ; haven't been so big sensitive—vulnerable—to govern. "a. tuo ient germ prices are Ing’ machinery. But this soot Lorton that they are shaving Stocks Have ma . i: ‘'.. - | Prof. Sumner Slickiter of Har- mental decision than at any time |, 8300 "oom thelr Jan capital investment and banks prices, taking little losses, on in- I a orn PIerS 72rd says there is a gap of $16.5 since V-J Day. | The wholesale price were timid about additional loans. ventory, hoping to make it up in nm echanical “[Riilon between earned ‘income; At the beginning of 1048; {oF indox '# Ot 35 por cout tine ta Where to get the money was (less labor) | Sib Ey ; ° and dividends paid. i 16, the outlook seemed Tea: | A ue : cost of to arnrg [| her provlem. They Iooked over iechniques possible with new ma. | | Gl] - Prove Worth on Big Scale | xu» sti tein ne an Sl Go Sues he Ar iad down and seams th i asse see what . theyichinery fed rE 3 3 Teusss e which controligtock market drop in September.ijcély to go lower. Numerous the importance of —. -could sell. They put-their fingers! : | aa : : of this money by big business | 1 chinks had appeared yt | » laid Off Workers. al resource eons almost in ce the item of To as Barter fo be.| Market Tradition Farm Prices in State 3 Per Cent Higher. - management has had on Sthars/ 1048. no real oly A PPE Sompan Hea Bae ad beni that cain inventory. [They culled through. their old| Carried - Through In Last Quarter of '48, Figures Show ° Ro ese aulanders| vm prices had yet to take ala Democratic Congress is likely of friends in all Joveiitory. had eaten up a lot wartime back arders, hoping to] lo yo wilany By HARRY MARTIN, Times Farm Writer at the power for self expansion tumble. Department stores hadto cut general purchasing power sy : : weatherman was a or mechan corn dey ust wound up a fine ate. of capital. As prices soared, in-|revive interest but found this Gaited Prose Finaneisl Editor The good salesman f hanical which the practice of re-investing Just d fine Christmas |by raising taxes in contrast to t that his interest Ty ee Tore nd|fleld pretty bare. Their back-| pw yoRK, Jan. 1 (UP)—|driers in the warm, wet fall of 1948. Spollage of moist corn brought po. 70 or 50 per cont of wenn season with sales 9 per cent ahead Republican 80th Congress Which will continue and more of a company's operating order customers had either h miniature year-end |108ses to some farmeis and scared others. : gives the biggest corporations, ©f 1946. Production was high.lcut taxes. Cl : of the conserva capital. ' It began to endanger changed their minds or had Stocks had a miniature ye Comparatively few Indiana farms have mechanical driers. The|ghould business, he asked, ever!| : I tJ @ Thus 1949 may well bring setter stay out of payroll money. : bought elsewhere. : rally in the last week of 1048,/, iment of $800 to $1200 in ofl burners and blowers causes small grow so big that no competition How Wi Cat JUMP T forth the first real test 's court. : Simmering it all down on the thus bearing out a 50-year market|cqrmers to hold back. er S-lcan enter its field? + the Employment: Act of 1946. The President and his Council of - ’ Men Mone Ideas le, however, ine- (42 soll conservation districts, > = t be to with the economic cat, r Y: second. day of this New Year, |tradition. On a bigger scale, ’ self-governed groups of farmers Hits Stockholders Economic Advisers mus ready to cope ow 3 " business now realizes that it has but one course to follow, and that! Trading increased on the re-| chanical drying is Jor. jones working together on erosion prob-| Investors. Is thé stockholder| Whichever way it jumps. A Wg business downtrend y low prices: is the same business technique which has produced the highest covery, but the higher volume was/able. On 4000 to 6000 els pe hres : treated fairly * when business have to be revised or scuttled altogether if a ; has cut the nume standard of living in the world. ‘They rediscovered the fact that| as much’ representative of sales/year; the cost of drying comes ‘ems. profitable, permanent/Mmanagement keeps out more Were to gain serious headway. At/gome decline in armament in Indiana during competitive business is a combination of the energy of men, money for establishing tax losses or down to around 8 to 12 cents per agriculttre will result. than half of current income andthe same time, plans for public ditures may bé feasible. If ten son, according to and ideas. i a lias | Profits as for buying for long ac-|bushel. rg calls it ‘“costless capital?” Has works projects would have to beigion ° increases, the President— Conservation De- This is back-to-normal what effort into every profit dollar, count. Tax sales for profits were p32. h L d . ‘Fish in Farm ard the stockholder a right to insist | ready—in case employment need-|,,twithstanding his hope to limit : we all have been longing for.|and involves more risk in every especially heavy on Tuesday, tne Hig an ™ ; y on profits his money has earned, ed bolstering. direct defense outlays to 15 billion . ve been bringing But now that we have it, we are invested dollar. That is normal|last day they could be made in| The man who wanted to buy a 1 je Sohservation farmer Sas and force management, to seek| Moreover, any economic policy dollars—may haye to speed up $1.50, mink skins, ‘not too happy either, It means/in this country, and will be in|the regular way. Later many gfish|farm scratched his head. He catch a fish for Rar as easllyinow capital in the equity mar- faces a big IF: Russia, which pre- armament. Such a turn in events, past brought $20 working harder, putting more|1949.. transactions reflected ated was pondering the wisdom of a 3 Shicken, parm panda, ait Kets? : cludes any Figid policy. If rela-|as last year, could be another ineraged about 310. - ; : d Will fail because they Profit realizing. ¥ late 1948 purchase. Fam prods stocked with fish for pi a ng Because, of this practice equity tions with the Kremlin improve, flation shot in arm. accoon pelts hive Plen of Business THE uml V1" Sales for tax losses sere done|UCts. Were sagging in price; lan | easy angl-imarkets have dried up, witnesses - Meanwhile, labor-manages $1 to $1.50, al =X will not try. Those who sit back in the regular way t up to|values were still going up. ing. ey . agreed, and the stockholder, Wages and the HCL ment relations are chang= ~ lubs have bought 484 hops for the: cream-skimming 4ays of war and postwar busi- 3 'L0_ 0, Under the, | Perhaps it was bind optimismiip pee: Cows : sald Prof. W. A. Paton of the o “xl. yocrise the dollar is doing alittle better at the retail at prices ranging hess will die on the vine, They will ind honest hustlers riding herd) 0 U0¢ 00, ss Js not necessary|maybe it was faith in the govern- : bajversity of Michigan, has been| Ete (NorY" The cost of living is down from a high of 174.5 d them for liber- - on the. national income and getting most of it. Ge to effect a delivery. of stock when ment’s promise to support farm| Indiana's dairy cows are keep- the forgotten man. Nobody gave ode 2 and is headed still lower. First, because of the continued : ; No matter what happens this year (Fortune Magazine's execu-| " " "'" ot wiished by a sale, prices, Whatever influenced theling milk bottles filled on a mass him three rounds of dividend in-1 10 n a ‘prices; second, because most recent red s in 3 tive survey predicts a recession), : tor vehicles but in the case of a profit, actual|decision, the contract was signed. production basis. creases to meet inflation prices. yop atter the: rere ds there will always be plenty of|0ld—were driving motor vehicles)‘ "0 0 "AC 0 © Net occur fn|at prices 3 per cent higher in In-| ne trend is toward fewer cows,, Customers. ‘They've been pay. Clothing prions Te hea anq|forth a formula for determining 6.4L kings-of gety business in. the United Sumter. aIys. - the year/in which the profit is diana than four months earlier. put specialization in the big| "8 Prices which produce tnis| Zo THERE FRE SENSE Cling tourthiround wage boost. making their ap- We produce 44.8 per cent of all That's just a taste of the busi- taken. a ! Nationwide land values in-|dairies boosts total production. Ee Sapital. Donald Montgomery| "18 and Jan. 15 indexes are! -Thé formula called for a 1 tent Hughes, Wd of the lest ower ia The World: ntes potential of ~ the United) Thng/moderate betterment of the creased 2 per cent in the same| pyoures show an IICTOASg managerotie Tap S siness compiled. - VE an hour wage boost for every 1.14 oils Out- 3 miikon Tootor Vehicles, And there States. Multiply it by steel, chem- list was Telged along by 4 sise. period. Top Soll er oh gis nd ith no choice but to provide big busi-| This deprives labor gv of Points o Sertass n i cost-of # {icals, non-ferrous ‘metals, rail-|apie rally 8 : OPer-iness with money to expand, toja. main argument for higher 3 3 _oents-an-ating tre 400 billion miles a year on out (roads, airlines, housing, radio, AKIng relaxed. Utilities were in| When a man buys a farm hisjator can afford improved strains meet high prices, and accumulate wages. namely the high-and-get-|hour “improvement” boost at the Clubs reporting = 400 billion miles a year on our y 4 1 be | : | jes, f the coritract year. her évents to Out 3 million miles of surfaced rural television, furniture, textiles (demand Thursday on the beliefimain interest is in the t7p six/and better management methods. new capital “without borrowing. ting-higher cost of living. _ start o new . ? ! ood. th 1d’'s_pést|the group had been oversold iniinches of soil. Fertility is spread) The owner of the small herd| The Curbs: New concepts of| Indeed, the fourth-round pat-| Under the formula, GM workers ive their informa~—§ roads and 300.000 miles of city/food (we are the wor ob toil ton: Ralls 3 thoiant and] ’ : day preceding the streets. Over 50 million persons fed), and you get a glimpse of the the Poste quidation: in a thin layer over the land, is often handicapped by ineM-|taxes are possible. If Congress tern for heavy industries may al- have had a 3-cent-an-hour ng ting. in the United States—one in|dynamic potential of rican | 1a88ed. erosion whittles the topsoil. thin-iciency, poor buildings and equip- decides to tax for revenue only, ready have been. established by of-living raise. Now, because

every two persons over 11 years business.

No Year for-Weepers ur."

| and there-is plenty of business everywhe 4 willing

Good Year for Industry ner ‘every time it rains. (ment. His labor return per cowiand. let business grow as it will, the two-year General Motors- the drop in the index, they're dus , Belect vying yi . ite At the end of 1948 Indiana had|is much smaller than that of the|it could limit itself to taxes that! United Auto Workers wage agree- for a J-oent-aenour wage redueear. for |- tive am vi big dairyman. ’ t needs , which setition Mar. 1. - ongs to the !any “Midividual issues, “wen E(] 18 Ah will meet government needs. !ment reached last May, which set tion Mar. 1. a

for the busi-|the high priced chemicals which ucators to Hear : tid : : ak

man who is to strain his mental m es, tune up his helped sustain the industrial ae fordsnizational “team and go-after it. . : age. chm we i - : ey {OE ~ This be no year for easy profits. Bat the new United While stocks were making small | a : . is 1} fsspanll se. ‘States, born of our synchronized, oho! to swerve -us from |Fecoveries, industry was rounding I. all » : i 4 war effort, is twice as ; out its best peacetime year and ! tn ; as before the a our Ros . We nave been build- setting all-time records in many pr Paul E. Witty, of North-| : | eo} oO GE : And the new America is here to|ing thid country from raw ma-|jines. i tere Uniiersily, 4 ovedinliot : | , Be sure of that. [terials found in its own back| mpg week's production totals| > =8 a 3 a Spe alis n ! No political party, no Presi-yard. Ahd nothing much can... higher than those of a week | m reading, has n named, A. L Runt, (former nordh- ! dent, no strike or-labor rebellion, dg troy what we have built, this ,o, put Below two weeks ago be- resource leader for the second of pan Coumiuion and Jost k no big business monopoly can be year or any dther year. cause of the New Year's Day holt. a series of Mid-Winter Confer-| | : - - hl d basin nities | . we . a day on which many industries will\ences, sponsored by the Butler . nL i =" close along with all markets. University College of Education] - . THESE STORES ARE yotel and ocher kind of Steel operations snapped backiand the Indianapolis Public . . i rps as > d year round) ori = by 9.8 per cent from the Christ-| Schools. ; i -— ol : with pvaeition. « mas week lull and the year's total] The meetings will be held Mon-/| ely Tor % job « elher I {set a peacetime record. Auto pro-lgay and Ey Jan. 10 and 11.

duction held at a high figure for\yn jordan Hall on the Fairview! the short week and the Industry's campus and at Shortridge High output for 1948 was lifted to the gchool. ' { second highest in all history, sec-| W. L. Howard, director of

ond only to 1929. | EM Butler's idance department Records for 1048 were set byline College of Education, is n

such important lines as electricity! of t nference I petroleum, retail trade, gasoline, chargs he” Cols CS _Beries.

Indianapolis teachers and other a tio uction. Employment interested persons: are. invited to: for the first time. in history dur. 8ttend a general meeting, to be

ing 1948, {held in Caleb Mills hall, Short[ridge High School, at ¢ pr m. on" Plane Production Down (Monday, Jan. 10. This session will

Declines were noted for the De followed by a series of meetyear in airplane production, out- {DES in Room 131 Jordin hat’ put of anthracite and bituminous Butler, at-7 p. m. on Jan. 10 and coal, foreign trade and car load: at 4 p. m. and 7 p. m. on Jan. 11. ings. Gains were noted in bank) Credit will be given for success- { |Clearings, commercial loans, cur-|ful completion of conference work, w |rency in circulation, - and gold according to Dr. Howard. ST = 4 stock. The last hit an all-time A. M. Bowers (left), works manager for International Har- nigh as nations sent their gold Mass Cooking E _yester here, receives his 30-year service pin from Harry E. Gott. here for our dollars. | $s ng Event

i berg, manager of manufacturing Tor the company’s mefor ruck | Wall “Strebt” “experts looked Sefs Record Here ~~ division, . into the future and tried to plot| } In addition to A. M. Bowers (above) the Year 109 for the stock, Four pO. oambers Pins for Years some 118 employees of International market, They anticipated a mod. Range stores cooked more than

jest setback in business, reflect-(1,.000 turkeys, hams, chickens, a Harvester's Indianapolis engine works are receiving pins denoting ing readjustments rather than re-| Young pig, 55 pounds of beef and their years of service with the Sopmpany. oles Be. for") | cession. {other food items for homemakers Second highest pin went to Arthur L. Toler Sr., for years, mus wi {and Marion County organizations with 115 being pinned with appropriate ceremonies for 10 years|, . Na oula sun lowes Richer during November and December. service or more,

This practice is og in In. management knows exactly how! dividend payments, it was pointed | W. C, Williams, who, announced

diana where companies are build- long they have been around. It 0Ut. However, many held that the “mass cooking” yesterday,

-— ser BL aa ; fo eer edaeessestessaney de et ad

Saved $000. nsannns | 1

[the market already has discount-|sald this was the largest eventyof | - : Our 5-Day Week. . . closed every Monday « « + gives our employees a 2-day ing up inside job-holding prestige pleases them, and management oq such contingency and traders its type ever held in the city. 2 | with recognition. Employees Hkeibou, to get some symbol of years: | ’ ” it. Sometimes they wonder if the ER —

noted that it never ‘discounts the| same thing twice in a row, . { : ! Some of the experts believe AGENTS fo Hear Jordan -

the list would fluctuate in 1949 in| Air Power and Peace” will be, a range about the same as that the subject of G. F. Jordan of| of the past three years. It was Eastern Airlines when he ad-| Interesting to note that at the/dresses the Purchasing Agents ) close’ on Thursday, the market Association at noon Next Thus. ‘ was exactly where it s {day In LaRue's Restaurant on N. Dec. 31, 1946 in the a en Pemnaylvania Bt. E. F. Andrews SHOP TUESDAY THROUGH SATURDAY

average, ay have charge of the program.

of loyaity. : weekend every week.

Howard C. Greer, vice president | - Fitzhugh Traylor, manager of and general manager of Kingan|the Indianapolis office of Equita- & Co, will speak on “Prices, ble "Life Insurance Society of ’ Profits and Private Enterprises” |New York, will speak at the at a meeting of the Indianapolis| General Agents. and Managers Lions Club Wednesday noon in tuncheon tomorrow in Ft. Wayne the Claypool Hotel. « {Chamber of Commerce,

[Real Estate Meeting

Officers and directors of the Indianapolfs - Real Estate Board | will meet in the home of Howard) Fieber, board president, 3215 N.| Pennsylvania St. at 6:30 p. m. Thursday to’ appoint 1049 board committees. <q

MILL TO LIVE AGAIN . | PAWTUCKET, ®.< 1, Jan, 1!

Lions List Speaker Insurance Unit to Meet 9:00 to 5:25

. L. Ayres & Co.

e Riddick Piano Co. Fem bin Pun Sloan] La

(UP)~The Old Slater Mill, Amer-| 1 ~ i El frig ut ag g sak Apa Me ; ma his with a $300,000 fund beraised, | ® National Furniture Co. | Trt TR FCT ast A Ha J ; gent : by. 8 group of manufacturers. ; : tiie. ie oly 10 Lf TU eh eet Eke 2 a Sm EIN mee ol KR A RA : 1 bd wi fem i 7] ; : ! X . dry f ; * iY -, aL Hl $1 ION wi rig Wh TIN rn i {RNS rE Tenn : . A AT | me hv 2 Cw wo Sh hy ; BE o wo 1e Al J : ; ’ f i bing wkd EAR ; vn = { ha wo ANS 1 4 ; ar so Xo ot fai a Se fi Wi Ge Aen ppt tl ide Auch in ; vo ph Lo i % = i o ! a ? n a denn at “y a AP a if - os oR ard Sif a sa Ao £ pl fa A. a a :