Indianapolis Times, Indianapolis, Marion County, 16 January 1949 — Page 48

Page PDF (8.24 MB)

Back to issue view

fil iar ops

. provides that

. loans, turning products on hand lito cash.

Businessmen Insist They Could Balance Government Budget

"By HAROLD H. HARTLEY, Times Business Editor | AS FAITHFULLY as the night follows the day, credit

tightening follows periods of intense selling. The biggest]

gelling season runs from Thanksgiving to Christmas. Thi

throws. the biggest collection period into January. Tay

Credit is being watched ho Feyond their capacity to closely this year, not only in|pay on the 30:day basis. As outie ’ tailing i put it, they load their accoun et. but in all other lines, during the holiday season and including manufacturing, sufrer them out after Jan. 1. service businesses and finan-

| Retailers watch this closely. cial institutions. . {They want happy customers. And The simple

people go all-out|a bill which is a little higher than for Christmas. They extend their he can pay comfortably is often buying in competitive giving often not a happy customer. su Manufacturers also have pulled In their horns. . Unloading They are selling harder and buying less, The

: .peason is that many are still looking. for the big let-down. They do not want to be washed out. Tey Rave been unloading their in-| ventories and putting their financial houses in order, paying their

The babies, SMASEI piles too. 11 to got their hands on it. Indeed professional credit men have said they would like to have the government turn its financing problems over to them. They insist they could balance the budg-

American pattern|a customer who is laboring under;

A $40-million order for this mechanical hydraulic torque converter of transmission has been placed with the Allison Division of General Motors, E. B. Newill, a 7 Grooral Motors: and general manager of the Allison plant, announced today. It is to be installed in Gen. Patton tanks.

On the Farm—

Farmer Expects Profits to Drop

, the bringin 2 atitbe cout “ef cay it xc Fg SEL RAIN ? Credit men look enviously country n

lin’ no time, ] What they want to do is to remove] politics from public spending which is|

he Difference

something neither they, nor anyone else in public life, is likely to do.| "When government spends, the administration weighs not only, the

dollars do in buying materials and services, but also keeping votes on the right side of the party ledger. the i their fingers for votes in setting men of UP an air tight Busisiees pudpet. business proba woul It will be foun year g mal 4 private business will tighten UP 8 edit. The only place in which the credit strings will be loosened will be down at the U, 8, TreasDepartm

ent. : There will always be money much. there when the party irk power private. business credit peljeves the political need Is

would not give a snap of strong enough.

When the Indiana Auto Dealers met $650 fellowship to the safety school of University to State Polico Capt. William T. Thompsafety work of the year. From the left, Gov. " Schricker, ©. L. Cchauss, South Bend, ADA safety chairmys Capt Johnston and Joseph E. O'Daniel, Evansville, president

Automobile Dealers Association of Inana, Inc. last week launched: an unusual annual meeting here. They provided copies of a “Man-to-Man” safety agreement to

n his father to/He also promises never to drive 4 Juniae approaches car. This day|When he is sleepy and not to drive over 50 miles an hour in the open country. he Hi He promises to slow down at intersections, to refrain from racing and to obey traffic signs. ‘If there was some way in which to get all men, whether they have sons or not, to sign such an agreement and keep their word, there would be a decided into the carilull in the grave-digging business over the country,

J. C. Larry Doyle, Central Region manager for the

5 :

1 li

nb # 8 &

in employee relations last week. Mr. Doyle, autoin the $50,000-a-year class, reminded them that incentive plans hurt a business if they are not thorough. e recalled the story of the auto agency which put in an in-

| here on, it will be harder to make

: {Big Crops,

Ford Motor Co. gave Indiana automobile men a

Outlook

Not Too Rosy By HARRY MARTIN Times Farm Writer The business-minded farmer) looked at last year's income figures, then at today's lower farm prices. He said, “we're in a squeeze.” i Farm and. food prices are down 10 per cent from a year ago. And the farmer's inflated dollar buys less. Prices of non-farm items are up 4 per cent. First to feel the pinch, farms ers believed they were the only big group ending 1948 in the price cellar, In the business of “manufacturing” livestock, grain and other foods, the farmer cannot adjust his selling price with other manufactured goods, William J. Nees, Clinton County farmer, summed it up: “From

ear

money.” ; a Small Prices Big production in 1948 contributed to the decline in farm income. Purdue figure men report purchasing power of Indiana farm products fell 18 per cent last year, But livestock feeding ratios improved as grain prices came down. The farmer still hopes' to make money. Indiana farmers, worried by corn spoilage reports, held off

harvest to await freezing of the|

Outlook in the Nation—

Employment Shows Decline As Commercial Loans Drop

big U. 8. problem, but . . . S. Sloan Colt, president of the Bankers Trust Co., New|t York, feels inflation has run its course. » Malcolm P. McNair, mar-| on™ ve a foundation. The keting professor at the ll of heavy melting scrap has vard Graduate School of |aropped about $2 a ton, a sign Business Administration, de-|that supplies are more plentiful. clares the “keen edge is off A&P has cut retail egg prices

consumer demand.” James D. Mooney, president of ment. of Agriculture estimates Willys-Ovetland, thinks a buyers’ (that farmers’ January marketings market for all cars is only six|will be off 12 per cent from a year months off. ago. Chief factor: Lower quotaThe, Colt-McNair-Mooney judg-'tions. Reds Si

BACKGROUND ON STEEL

_ Industry feasts (operates above 90%.) in booms, famishes [below 50%) in depressions. .

ground. Some are still waiting, with bottom-land corn standing in acres of water or ice. Picking is impossible.

Electricity—Telephone Unemployment Up 300,

a few Indiana farms are

Only without electricity, Years ahead of power, telephone wires webbed the - rural scene, linking farm homes. But there the telephone slowed down. Today's farmer, driving ‘a new car, using new equipment, still talks over the same instrument Grandpa had installed many years ago. E. H. Kahlo, of Indiana Bell, reports 26,500 phones added in rural Indiana since the war, 7000 in 1948, But many more are needed.

A Back Seat

Dairymen in 77 Indiana Counties now have access to artificial breeding. Herd improvement is the result, The scrubby bull of uncertain heritage is taking a back seat. Indiana will glamorize the cow

national Dairy Exposition is hel

plan, which, for some reawas working trated with the story of the man not | well in the who had worked 18 years for a They began to trace company, then went into the boss

‘the tO quit because he had found a of the trouble and found that they), "yyy more pay. Immediately rato who took the boss met the bid for his servSuvutar : Spertior | brought i ices which was twice what he

had been earning. . The elevator man was poison-| The worker never quite under'.ing the minds of the body shop|stood why he had to get another workers against the company. Asi{job to ‘nd his true worth to

~_soon-as-the elevator operator was the business. And he still doesn’t

allowed to share in the incentive gnow how he can collect for all plan, the trouble disappeared. | Another fairly common error underpaid. Bad in employee relations was illus- tions.

{those years he apparently - was employee rela-

at the State Fairgrounds.

tion of agricultural interests, the show is expected to compete with Speedway as a crowd-puller. The National Ayrshire Assoclation's annual show will be held along with the event. . And another national breeders’ group will | make a similar, announcement in a few days.

11 North Side Sales Reported

Associated North Side Realtors

* | Indianapolis’ from Jan. 2 to 8.

- EE = 1S

NEW INSURANCE HOME . . . In a week or so, this will bseome the home of Gregory & Abpel, Inc., general insurance. fe building, 120 E. Vermont St., will be the largest quarters the ' @deyearold firm has ever had, said John Appel, president. The ©eagory half of the firm became inactive in 1914,

A Picking Them Young #9 «9 up the oncoming graduates, They have definite yardsticks, bet sometimes fail in presenting their offers.

+ They must present an accurate picture of their companies, back-

.greands and r0 ects, and * sn {ey must paint un accurate picture of ha Job offered, what it is like ™ A et ——— and Ma possibilities for advance Universal Club to Hear

meni Tn recent years when help has Talk on Home Building pet Prema, some of the| warshall D. Abrams, managing asotesd of exaggerating thelr

ey . struction League, will speak on Ahis year will stress“Homé Building in 1949” at a fof asouracy in ~“sringinocon luncheon meeting of the

fa recent years r :-s|Indiana

ri # -

i y y Ny

Most big corporations visit! pent of Speech college campuses each spring in Butler Uni~

Airector of the Indianapolis Con- v

oll Mioutage the Lt Uiniverssl Club Tuesday in the

iin employees onve alse is managing director of the ie Of personality wan Polley Qommittee, & co-or : TR a BE Hh

Bruce Savage sold the Drexler Co., 314 N. New Jersey St, a lot in Arden subdivision, and houses at 4532 and 5435 N. Capitol Ave. and 308 W, 46th St. In cross-sales, Spann Co. & F. M. Knight Co., sold houses in 4126 and 4137 Byram Ave. Other sales and sellers were 3938 Byram Ave, Ford Woods & Co.; 4935 Crittenden Ave, R, E, Peckham; 3302 N. Colorado Ave, F. C. Tucker Co. and a lot at 30th and Meridian Sts, Thomas F. Carson Co,

Dean Burdin To Make Talk

Dr. L. Gray Burdin, dean of men and head of the Depart-

versity, wil speak on “The Personality Pileture” at a meet~ ing of the Indianapolis Real & Estate Board &

to make the p! Anti Hotel, a . F. Abrams, a former of] =. i Classes of 1049: Satis Putaam County Cireutt. Court,

cent layoffs to 940. United Shoe a, ~ - Business % Change Machinery has let 250 of its 3000 Reserve Joans from workers go—as part of a plan| District Jan. 5 provi of postwar readjustment. wee The banking system, always U. 8 covers $15,866 13% | sensitive to changes in the busi-| Boston ..... 695 —2.0 ness tempo, reflects this hesi-| New York .. 5904 —1.0 tancy. In the week ended Jan. 5,| Philadelphia. 524 —26 business loans at reporting Fed-| Cleveland .. PMT 186 eral rve membey banks were, Richmond .. 412 —14 |down $195 ‘million. ‘True, some] Atlants ...¢ 549 0.7 shrinkage, after Christmas, was| Chicago .... 1850 —24 | to be expected. But this was the| St. Louis ... 622 —186 greatest one-week drop ever re- Minneapolis . 247 +08 | corded. Kansas City 518. 0.7 Moreover, only one Federal Re-| Dallas ..... 78 —08 serve district escaped it—Minne-| San Frincisco 2,280 —0.8

in October when the First Inter-

roSales Surprise

moted by a non-profit corpora

yesterday announced 11 sales in|

Wourlitzer Pianos | The Pearson Music Co. N. Pennsylvania St, with eight

nana CAPACITY, — (Begining of Year) 5 Percent of Operations 8 o I ——— -] ha oo — ” ~ wd . “o : mn] 20} eo H20 f or . lie | - ° | - -'er

Poporsd for 3. R. Livingston

And the Bureau of the Census counted 2 million unemployed in December—a small total by prewar standards, but 300,000 above the year before. What's more, layoffs continue: Wu : ! The Louisville & Nashville Railroad his dropped 600 laborers and machinists, bringing total re-| -

apolis. Here's the story, area by, No one or two big corporations | area (in millions of dollars—| retired large loans, thus account-! 000,000 “omitted) : {ing for the drop.

Post-Christmas clearance sales bear this| out. Manufacturers and wholesalers have | made big. concessions to stores to move overstocked merchandise. | Department stores, in turn, have put on sales a la 1939. Result, | a surprise: In the week ended Jan. 8, sales were up 9 per cent over the corresponding week of 1948. That in contrast to minuses in | ri . | He weeks Just prior ‘W_ Canis | The newly risen competition for Such gains, if persistent, will the consumer dollar is most manibe certain to modify doubts about fest in television. This raucous, the 1949 business outlook. How- | post-war baby already has en-| ever, one question still_requiresitered an era of price cutting. Yet an answer: Have the stores bor-\two months ago, manufatturers| vowed from the future, have they, could not satisfy demand. And

forward into January sales which!end statements about the 1949 otherwise would have béen made qutiook, executives were wildly in February or March? loptimistic and confident. . |

{ * * Housewives, obviously, are on This Against Tha value hunts, They're measuring clothing for the family, say, against a refrigerator or a television set; or a new carpet against a washing machine. And so on. Except for passenger Cars, electric ranges and refrigerators, sales of most consumer durable goods are noticeably below the post-| war peak. However, volume gen-, ~~ eT ernment plants. At the moment, erally runs ahead of pre-was_tohs demand for steel is less hectic

nd refrigeraJescem J I wing Sable/than it was three and six months

Radios ........ 1137 1583 1000 So, unless military demapds This has political, as well as Are unexpectedly large or “long economic, implications. . Tt sug-|trikes in coal or steel occur, the industry ought to be on top of .jorders later this year. In short, steel’s feast may be over. *

seek authority to construct gov-

Pearson's to Handle

”

rays.

alone.

by marking down prices, brought jess than a month ago, in year-|}-

shows (000 omitted): |ago, The gray market is almost |W e. | ” Wer War mecent| Steel mills are operating close | Trasks. Busses. ne nes os capacity, and slowly but surely Pass. Oars..... 538 384 370 [capacity is increasing. As against Refrigerators .. 483 398 389 [71 million tons of ingot-making Wash. Machines 214 434 319 0, 00)ti08 In 1020 and 82 million in| ive anger + 60 101 138 (00) CL" my today ha 6 Vac. Cleaners.. 172 37138 255 (million. Projected installations Elec. Irons .... 382 1784 487 (will bring that up to nearly 99 Oll Burners ... 25 124 59 million tons in 1051.

CINCINNA

. | hogpe that will e the University of Cincihnati for experimental purposes. new type of residence, university officials disclosed, the advantages of low cost and reflective radiant condiIt will eliminate such conventional necessities for interior ,¢ Labor Statistics Reglonal

heat-ray

Cooling

anker Differs With Truman on How Long live in the ation Thecal WHE FRG TOR T= = =x aan satus By J. A. LIVINGSTON ds. round

eating Plant Visioned [cuit in State - |

te insulation and heating plant will be buiit

{sald wall and ceiling surfaces the new house will be embos aluminum foil. The foil is one the best ‘lknown. : Heat Rays Do It In place of a heating plant will be a few electrical resistance coils in each room for generating heat ~oils, resistance wires for heat, and fluorescent color lighting will all be placed in a cove near the ceiling, givin heat and -light and removing diant heat in hot .weather only hy indirection, The experiment will be conducted by Dr. Clarence A. Mills, professor of experimental medicine in the university’s college of medicine. Dr, Mills’ and his wife will home to make obser

ra-

. - i comfort, Dr. Mills PRESIDENT TRUMAN may still feel inflation’s the|said should thus be available for 3 * much less than is now-spent for winter heating alone by conwvenfonal methods. Control Counts Dr. ‘Mills said he had found ” laboratory work that complete(and residential building photohuman comfort can be achieved by controlling heat loss from the skin through radiant channels He found that an individual could’ be made equally com{about 10 per cent. The Depart-|fortable at 100/degree Fahrenheit or at zero by proper attention to will be selected ag entries for the the net rate of heat loss from his body. “Let him lose heat freely by radiation from his body to a cold |object, such as a ‘wall surface, ignd he can disregard the hot air next to his skin,” Dr. Mills ex-"membership, is entitled to three

g/from 1940 to

will

EE rp ——————— plained. “Under such conditions his skin becomes distinctly cooler than the air next to it. HE | “And in cold air he is comfortable if his skin is kept warni by “jadequate rays from a radiant ob‘{ject, again such as a wall surface.”

as radiant heating currently ob- ed Lbs tained by water pipes buried in Harry D. Weller floor or ceiling, university officials |

Joins Realtors of

SUNDAY, {aN i819 |Home Without Insulation Or Heal n Reflective Radiant - Conditioning Would Keep Interior Comfortable at All Seasons

0., Jan, 15 (UP)—A “completely revolutionary”

Yo» &

Permits Decline In Top Four Cities Indianapolis’ first post-w building let-up has reverberat

showed yesterday. me In Indiana’s four cities of o 100,000 population, the volume new dwelling units authorized fi construction by permit-issuing ficials slipped to a seasonal ¢ cline in November, the report vesls. i » argh Officials in Ft. Wayne, , G South Bend and Indianapolis.

thorized 26 fewer dwelling un in November than in October,

Harry D. Weller, 6066 Garver g7g units less than in Novem

reflectors Rd, recently joined the Bruce

(Savage Co., real“tors. | Mr. Weller was ivaluator of resi{dential properities for the Federal Housing A d ministration

1048, except. for four years as cal in the Army. .He holds AB and MA degrees from Indi~ ana University.

Mr. Weller

architectural display since the war were announced yesterday by the Indiana Soclety of Architects. . The exhibit, including school

will be assembled in Indianapolis within the next month. Dates for the public display are to be announced. 4 Six photos from the display

first annual program of national honor awards of the American Institute of Architects at the organization's 81st -annual convention Mar. 15 in Houston, Tex. Indiana, on the ' basis

| iH Hi Liberal trade-in Allowance

graphs and reproductions of plans;|

Victrola 8V90

1047, it adds. Show Drop Here 4 The year’s return to normal building was shown, as 497 . authorized units were counted * the first 11 months of 1948 th in the same period in 1047, In Indianapolis, figures ; a drop of 112 units for one mont from 174 in November, 1047, ° 62 in November, 1948, i Of the four cities

period, boasting 1754 permits 1033 for Gay; 941 in South and 552 in Ft. Wayne.

§ 7 §

Hoosier Architectural | Display Planned

ere

Plans for the biggest Hoosier entries in each classification. k:

10. . : ‘A’ commnilttee of judges will | appointed by the executive cor mittee of the Indiana society, |

Directs Housing Group Special

Times : CHICAGO, Jan. 15 — John Ducey, former economic ad and director of planning for ti Chicago Housing ,

been appointed executive |

sooh after entry deadline, Fe

of of the National Association |

Housing Officials. i

BCA VICTORS =

newest

ASIII IY

with the

@ I's far and away your finest musical buy —one of the world-famous Victrola rad price you'll have fo rub your eyes to believe! Here's AM and FM radio, with RCA Victor's own simpler, more sensitive Frequency Modulation circuits; a fine new autematic record changer—quick, quiet, dependable—with "the “Silent Sapphire” permanent-point pickup~no needles to change. Stunning 18th Century style cabinet with doors that fold flat against the sides when set is in use. Big record compartment. In walnut or mahogany _ finish (blend slightly higher). AC operation. Here's an

= "Golden Throat"

EASY SREDIT TERMS

SEE 0S FOR A DEMONSTRATION i

entertainment value you just cannot 5 Finest tone system beat for style, performance, price! 199° in RCA Vitor history

“Vietrola"—T.M. Reg. U. 5. Pil. Of.

_ HOME APPLIANCES SIMMONS FURNITURE | and FURNITURE 0, and APPLIANCES C0, ~~ 3360 N. ILLINOIS ST. 53-55 WEST 34TH ST. ~~ Phone TA-1800 - Phone WA-0038

RE ee] ERR ly

ment salon or the State Libra -

In. Some Bound On. Fu

-7 Bodie In B-29

| GLASGOW, Twenty U. 8. them bound - lough, were ki

the presentat will offer ex

(Continued °

Reds Con

BALTIMO!

£ :

ALE:

i E rE

« cet

~ »