Indianapolis Times, Indianapolis, Marion County, 13 March 1949 — Page 28
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SESE TT ERNIE ve
PAGE 28 __
Week in Busir
of the U. 8S. Bureau of Mines. Mr. Lewis strikes his miners as quickly as he strikes a match. To make the Government shake off Mr, Boyd, former dean of the Colorado School of Mines, he shuts down the mines, squeezing the people, not the ‘government. But when the people are squeezed, he expects them, in turn, to make President’ Truman listen to him. : :
Neeks’ Coal Strike ~ No Threat to Business Biggest Users Well Stockpiled; Seen as Pre-Negotiations Move By HAROLD H. HARTLEY, Times Business Editor ad JOHN L.-LEWIS did it again. On Friday he sent his| miners a familiar message, telling them to stay out of the =
. pits for two weeks. The irritating burr in Mr, Lewis’ bushy| - eyebrows this time was presumed to be James Boyd, chief | %
But it 4s not like Mr. Lewis to
Big Stockpiles
be this obvious. Hig real target| }
prebsbly is not Mr, Boyd, but J A. Krug, Boyd backer who spear-| headed the - Government's fight! against Mr, Lewis and his miners, | costing them. $3,510,000 in fines,
This work-stop Is
for two) wy. weeks only, It is a finger-shaking RCA to Exhibit maneuver, principally at Presi-|
dent Truman and Mr. Krug. But it is also egocentric Mr. Lewls'| way of réeminding the adminis-| tration (and the people) who Is boss of coal.
Actually the mine shutdown will not| have much effect, here in Indiana or
elsewhere. The worst of the winter is over, and the big coal users,
power companies’ and railroads, are well stock-pited. a The demand for household coal has been off due to.a mild] “winter. There even has been some talk of price reductions. |
of the next two weeks may well
Industrial stockpiles in the na-| tion which ordinarily run 40-to-50 60-t0-80 million’ tons. Two weeks’, million tons are now standing at strike will only bring them down to their normal figure, Experienced coal
{
producers]
Know the Lewis tactics itke a for-coal-has-been-off. That les-]
book. They say he usually pulls a strike or slow-down in advance!
of wage negotiations to milk the strike threat,
nation's supply of surfaced coal
to get into a better bargaining will be hurt much by Mr. Lewis’
position.
This year the mine contract! expires June 30 and the shutdown’
1
healthy upturn. Some businesses
“their gross. receipts. They attribute it to a wearing-off of the depression fear, ® Business did slide off its postwar peak. It had to. The backlog
of demand had been eaten away. But the rest of the people were still buying their usual number of washing machines, ironers, radios and automobiles. : Whether business is or bad is a matter of relativity, What you see depends from where
~-you-see it. If yau stand on the
post-war peak and lpok down to the last few months, it looks and is l6wer. But if you view it from 1036-40 levels, business is going strong. Even the stock market is due
be John L. Lewis’ preface to his wage negotiations which will begin about May 1.
The negotiations may be tougher ‘this year. The demand
sens the demand for mining, takes some of the steam out of a
Coal producers say that no one
current action, no one but the miners who will lose two weeks’
pay.
_...Indiana--business is looking with hopeful Teeter-Totter yes towara Apri.
There are signs of a already have noted an upturn in
| Luncheon table forecasters insist the earnings-to-price rations cannot last. Some stocks are earning well over 25 per cent of their quoted prices. Z : Just now business is trying to
This is the big "
| the State Fairgrounds, Apr. 22.
500 Invited to View Television Inaugural Indiana - produced RCA television will make: its: bow to 500 dealers, salespeople and ' broad-
casters tomorrow night in the #8
ballroom of the Athletic Club.
Associated Distributors, local RCA - Vie-
will join with the producing
launching of the precision -screen RCA products. Henry G. Baker, general manager of the RCAVictor Home Instrument Department will bring a delegation of speakers from RCA for the. Indiana in-
augural.
Mr. Baker
Milling, vice president in charge of Consumer Products Services
Service Co. will. describe plans for RCA's extensive
make up fits collective mind whether things are really bad or
have a right to be, The basic trend has changed. Prices are still sloping] downward but they won't falll over a cliff—at least there is no
to dissolve some of its jitters.
._ Pontiac is proud of assembly lines recently. 3 million Americans who chose lasting, last-to-be.added to the
It is a
5 ovo ge 300000Q
|
its 3-millionth car which rolled off the “strong note of confidence from od still choose) this sturdy, long.
eneral Motors line.
“lia | asl tn Last week, J. A. Livingston, who paves the The Look-in - column on the opposite side of this page with
& weekly health chart of business, put his finger on the germ that's
troubling industry, He quotes Clarence Francis,
board chairman of General Foods
Corp., for his rebuke: to the stiff-collared National Manufacturers
Assn,
Said Mr. Francis: “It is ironic) that Americans = the most ad. Sripes. technically, -me-
—yanced - chanically - and industrially
should have walted until a com-| paratively recent period to inquire]
ling them. Interviewers hunt They inquire about -the food in company cafeterias. Of-
{looking for signs of unrest. | The University of Michigan in
into the most promising single a Tesearchijob for the Navy dissource of productivity, namely the covered that workers do not like
human will to work.” Mr, Francis
soft spot right in the bullseye. Businésses have bean spending
hit the business
|being watched or supervised every iminute. They want to be free to {use their own initiative.
r freely to. find. out what Surance Cop. it was found that
“workers are thinking about, what Production” was low where super-| makes them do, or not do, what | Vision was high, and the reverse
is required of them, ~
Interviewers visit plants, ‘talk |
{when supervision was low. S80 there’s a tip for department
whether they are better than they pin, : ; : - (vision sales’
not, manager,
{fen, they visit: workers’ homes,
In surveying the Prudential In-|
icing facilities. {- Dan D, ‘Hal-
will} present the full line of TV recelvers. These will be made available to the Mr Milling public in the next few weeks, L. E. Randle, and H. E, Delp, sales manager, of Associated Distributors, will describe the plan for franchising RCA dealers and Harry M. Bitner Jr. president of WFBM-TV, which will be the first Indianapolis television station on the air, will report the station’s| programming plans,
in the Athletic Club. “The antrance of television into the Indianapolis region is one of |
Baker said. “The rich variety
here — the civic and cultural activities of the state, interesting athletic facilities and educational programs, all point to In-
markets.”
Livestock Prices
Gain for Week | [ CHICAGO, Mar. 12 (UP) == | With a, seasonal decrease in the {number of hogs marketed and {sharply curtailed receipts lambs and sheep, these {classes of livestock moved higher |this week while a two-way trend
two |
|
{developed in the steer market. | Receipts of saiabie livestock)
[8700 sheep. Cattle receipts were,
puss That Grows" fo be shown at the 24th Annual Indianapolis Home Show in the Manufacturers building at rooms and a second
Ine, | |
tor distributors,| 3
5 company inthe,
Among them will be J. A.
Special studio will be set up week’
ris
oi Go
The basic "House That Grows" which will oung married couple Fo in the future.
v WN RYT
; shows how the "house which is below.
SrA
The expanded plan for the
architects outside Indianapolis in a compe was done by kennox & Matthews an _Spickelmier, president of the exposition,
3 C = yp
KITCHEN
Stock Averages at Highest Mark Since Last Feb. 5
Rails Feature Major Groups in Extent of
Advance; Sales for Week Also Heavy By ELMER C. WALZER, United Press Financial Editor
NEW YORK, Mar. 12—Stocks extended the previous s rise in the past five and a half sessions and lifted the, ‘general average to a new high sinee Feb. 5. |
of program. material available high-grade miscellaneous is-| sues, the oils and motors.
Wall Street had anticipated |
dianapolis as one of the im-around the time the Mar. 15 inportant wrogram sources as well come tax payments were met. as one of the important television There was some seiling early in the week to raise funds for the In {revenue collector but demand jnarated at 100.6 ‘picked up moderately to absorb produced 1,862,700 |ago, they turned out 1,741,200 gq tons on a rate of 96.6 per cent.
the offerings. Sales Hit High Mark
an intermediate rally to start
Transactions increased with
prices. .. Sales were the highest ‘ "ET { since the week ended Feb. 11. ne Material Mento -Hear total was swelled by another block
of 100,000 shares of Western Air
the previous week.
the sessions.
While much of the rise was en
as technical, the market also was
for the week included 36,200 cat- aided by favorable corporate re-|
|tle, 2100 calves, 40,800 hogs and Ports and high operations for in-|
ustry. i Railroad shares rose in the face
of Lines following a similar one in| A block otf|the Upjohn Co., Kalamazoo,
13,500 shares of Merritt-Chapman address the Indiana Materials & Scott was a feature in one of
with employees on company time, managers. A little more freedom | ,mewhat more ample than aiof such news as a decline in in-|
ask how the workers like their of initiative might help produc-| oo ago and for the same week come in January, further losses
bosses, how the company is treat-!tion.
Profits to Workers
Bome factory-written summaries of annual reports bear down too|
{last year, Sheep were off about 50 per cent. t The two-way price trend in
““Henvily ‘on profits” to- stockholders and too little on -how much steers brought yearlings, medium
went to workers in wages,
Labor leaders no longer look at financial statements blankly, aver ow 8
TTTTHRY can Tead the statements. They can tell Who 1s getting h “im - errr ~vs pounds higher.
money.
Nearly every company had its earnings
Profits went
nore. last year. up to the stock-|
| played havoc with the contours of
his cheek.
holders, but likewise, wages were man, “have you tidings about the up. Too, few of the factory sum- northbound train?”
maries put enough emphasis on
the increased flow of wages.
“A stream of tobacco juice siz{zled against the stove, following
The Baltimore Railroad is get- Which the agent replied: ‘Not a
ting wise to passenger itch. It is passengers Tidget when the train is late, Repeatedly they stop the conductor or brake-
what makes
man to find out the trouble.
All créws on the B. & O. have “streamlined
darn tiding.*” But the B. & O. explains that could not happen today. The B. & O. doesn’t run things that way. The Packard Motor Car Co. has top management”
been reminded that it has long with 15 executives averaging 56
been the policy of the company to make full explanations to pas——aengers. concerning delays. The experience.
instructions are as follows:
Says Packard to fits 116,527
|steers and all weights grading age-ghoice or better to rule teady to 50. cents a "hundred Steers ruling high-medium to {nearly average choice and weigh-
“My man,” inquired the clergy- Tg Wore than 1100-tbs.—were-50+
{cents higher to $1 lower, Heifers,
|ers ruled $1 lower, | | The loadlot steer top was $29
of choice to prime 1377-lb. | weights. Most low to average[choice steers 1400 lbs, or lighter lwere $25.75 to $28.25, The best heifers were $21.50 to $25.25 with medium to low choice
and feeding steers sold at $21 to
“At a small rallroad station, a stockholders in the 1948 report:[$25 for weights 1000 Ibs. down. |
clergyman waited to meet a pas- “Packard management is rela-| who was to arrive on the tively young in years but long-
+B:15. The train was late, He ap-iseasoned in experience, and com- « proached the ticket office. window bines-a high degree of specializa-
© seeking information.
{tion with a streamlined flow of
“The ticket agent sat with his fUnctional authority”:
feet propped up against a potModo d His . chair was © tipped back, a derby slanted over! 8. « his eyes, and a wad of tobacco Advertising Campaign
bellied stove.
Bakers to Introduce
: |lmanager of
| Hoosler
{
Hotel, Walter. H.
to utilize publidity,
Representatives of the Bakers Chamber of Commerce at a {of America will introduce the na-|luncheon Tuesday in the Indiantional organization's advertising ®POls Athletic Club, |campaign to members of the In.! diana Bakers Association at the |facturers and other exporters group's two-day 45th an- may obtain orders from European {nual convention opening at 10{Sountries participating in the, & m. tomorrow in the Lincoln :
thd national staf
will present the program to encourage local acceptance of the
national advertis-
Craig to Address C of C Trade Group |
| “Glenn H. Craig, deputy direc-! tor of the Industry DMvision of | the Economic Co-operation Administration in Washington, D. C., Iwill adress the World Trade |Committee of the Indianapolis
Mr. Craig will explain the work {of the ECA and how local manu.
ERP program. i ——— WANTED - APPLIANCE REPRESENTATIVES washing machine mane. facturer tor sales
in car loadings compared with a year ago, and estimates that car loadings will decline further this year. Rall List Strong
Gains in the carriers ranged to! more than 4 points with the {higher priced issues the best per-| The rails were particularly strong in the Friday| the whole
formers.
session when they led market higher. ~
| Such leading stocks as Ameri-| funder 800 lbs, were up 50 cents)... Can, American Telephone, | land heavier weights steady. Veal- cp ygler, International Harvest-|
er, Union Carbide, U. S. Steel and American
more than 3 points, gained 3 in its department. Rallroad issues also led the bond market higher. Commodities were depressed. On Friday wheat lost 2 to 2% cents on dis-
weather “in pretty good condition." Car Loadings Up Gains were registered in such industries as steel and construc. tion and car loadings rose over the previous week. These ad-
vances balanced off .declines in!
automobile output, coal output, electricity production and output of crude oll, gasoline and fuel ofl. Retail and wholesale trade rose
(over the previous week, but de-
|
Smelting gained al [for two cars of high choice 1125- point to 2 points. Peoples Gas, | |1200-1b. fed steers and for a load performer in the utilities, was up| Gulf Oil}
|
|
|
years old, 28 years in Packard) { r at $21.50 to $25.25. Good and closure by the Department of Ag-| service and 33 years of auto|.noice vealers were $26 to $28. riculture that the winter wheat! BN Medium to low. choice stocking crop had come through the bad ba
the post important advances tele-'rise, while the utilities firmed to around their best levels o vision will make this Year, Mr, year. The industrials made a moderate rise, aided by
arage, lau ath have been added to the small basic
A PO
be seen at the Home Si with a limited budget but anticipating the ability to expand both family and-|-
gn PANE b An 3 m, extra bed-
y roo
edry and Hobs
i w. It is d
TE
esigned for a
“House That Grows" . . . The design was selected by six Hoosier tition of Indianapolis architects.” The prize-winning design d Associates. Adams & Co. will furnish the big house, Carl V. announced. The Rainier Furniture Store will do the basic unit.
'On the Farm—
Weather Mixture Baffles Farmers
By HARRY MARTIN Times. Farm Writer
~ [Outlook in the
; ) Ni °
Prediction
of 1949. : Three months ago, 59 per
answered my year-end questionnaire felt production would remain relatively stable through 1949, Today that proportion 1s| down to 44 per cent.
estimates of what would happen revised their Tofechast downward.
responded optimistically, pessi-
3 |mistically, or. imperviously to re-
cent . events—in revising their judgments on four basic factors: Response Opt. Pess. Imp. 45% 21
Factor - Production ...., 3% 52% Wh'lesale Prices — 19 Unemployment .— 70 30 Stock Prices ....12 24 64 Investment economists are a bit happier about the stock market
than they were three months ago {—which explains the upward re{vision in the above table. They | reason that the market has been {anticipating a business readjust- | ment ever since the break in | September, 1946, Now the refadjustment’s here. Therefore, bad news overhanging the market is |getting out of the, way. Para-
= ldoxieally, though tMé investment men are optimistic about stock)
{prices, they're most pessimistic {about business. Perhaps they feel {the market has discounted a lot. As yet, only a minority expects the post-war boom to deteriorate into a serious readjustment. Surprisingly, economists are more optimistic today than in December
production.
cost of living are expected to be down four per cent by December.. That would ean six per cent
The Weatherman outguessed he Hoosier farmer last week, not sure whether the decline is gaining momentum or is about to
| stores sales—in dollars— are due
U.S. to Step In
cline in department sto have prompted a fairly general lowering of sights, even among those who One economist put it this way:
cent of the economists who,
Moreover, the increase in lay-| offs, the sharp drop in commod-| ity prices, and the persistent de-|
Few Stand Pat
Only were willing to stand pat on their earlier
1947, notwithstanding that the| post-war economy is a year older,’ House.
Store Volume Will Hol
sensus, it will be anything but a poor year, Fhe total value of goods and services will decline from recent levels of $265 billion to $244 billion, which would be the second best year in history. Half the decline is due to lower prices, half to a 4% drop -in industrial
decline in living costs from the! from | peak in Spetember. Department but two economists estimate 8
{million unemployed by December.
One general observation is in order: The forecasters are uncertain.
———
~
coi |
SUNDAY, MAR. 13, 100 iNafion =o ig 2 Economists Temper Optimistic Outlook Some Revisions Seen in Business.
for Rest of Year : By J. A. LIVINGSTON THE SETBACK in business which has been under way for several months has not taken economists by surprise, exactly, but it has made them somewhat more conservative —somewhat more pessimistic—on the outlook for the rest
sales
expected a decline.
“you will note that I'm fore-
casting everything lower than I {did in your year-end poll. This is
the process “of readjustspeeded up considera~
because ment has bly.”
21 per cent of the economists
to wholesale prices; 79 per cent On unemployment, only 30 per
cent stood pat, 70 per cent decided that an upward revision was in order; The following table shows the percentage of economists who
that industrial - inventories are higher, and that the most urgent wartime demand for clothing, housing, automobiles, and other consumer durable goods has been met. Here's the way the economists vote today as against three months ago, and a year ago: Forecast* To- Dee. Deo. 4 day ’48 4% Recession — de- . 2 cline of 10%. or more «...eseve 15% 15% 38% Minor Drop =
5% t010% .... 41 26 28 Relative Stability « less than 5% either way. 44 59 39
*0Of Industrial Production As. a group, economists representing labor unions are most optimistic. They expect that unemployment will decline from now to the end of the year. They expect production, prices and stock quotations to advance. This may explain President Truman's insistence on standby price controls and higher tax rates to
‘ward off inflation. As the result of the election, labor is supposed
to. have a pipeline to the White
If 1949. develops In accord with the con-
Both wholesale prices and he|to slip, but largely because of
prices. Physical volume should hold at recent levels.
Unemployment is “slated” to rise from 3,220,000 to 3,500,000,
land made hundreds of them take lose speed. One economist wrote, “We are riding along with our
Railroad issues featured the major groups in extent of their plows and tractors back to previous forecast until something decisively indicates a revision is !in order. We have seen some of those little clouds no bigger than a
£ cover in sheds. The
clined from the corresponding
week of last year,
Steel opérations rose to 101.04 per cent of rated capacity, at which level the mills turned ‘out [1,869,300 net tons of steel ingots,| ~Prices Still Down ia record for any week-peace or
r.
eminent
Two Upjohn Officials
Handling Society at a dinner {meeting tomorrow in the Severin
Hotel.
and Production Control.”
Regervations are being made with R. L. Anderson of StewartWarner Corp. or Wendel Phillips|pleas of conservationists to seed ’ lerosion-slashed hillsides to grass.|
of Eli Lilly-and Co.
enough for
-- America's
Measured any
| time, shoveling paths
|for livestock.
Farmers looked at their
due to the mild, moist winter.
ratio. Bad Winter for Erosion
water has cut deep gashes
top soil : The Trivulets
‘est car in
ac3 ; count books and frowned. Their the previous rate the mills trouble was a price decline for! per cent andthe seventh straight month. To tons. A year|this money loss, they added eon-| erable amounts of molded corn
Hog wrices stiffened a little, ! ut “whole ‘milk, eggs and corn ldropped again in price. But the! {lower corn values with higher,
Ed Mayo and James Light ot hog prices. improved the feeding
The winter's rapid runoff of! in| | "~The speakers will discuss “Ma-|%loping Indiana farm land. With
terials Handling Factors in Stock|the water went much otf farmer’s precious, crop-preducing
the |i
emphasized the
new, high-corapressiob Super-Six most powerful Six—or therr brilliant and economical best beca 80 streamlined. “'Step-down’’ design again!
Eight, ie use car i880 low-built,
mild first -of-the - week hand — you know the kind — but {looked like good ground-breaking nothing more.” . Thursday's “snow made
}
«oo
1530 Stadium Dr,
- Compare as you will The exciting New Hudson is today’s best buy!
way at al, that exclusive “step-down” design “more car-for your money! Rh = MOST BRAUTIFUL! Millions voted Hudson “Most Beauti All!” No wonder! It's the lowst-busit, : in it full road clearance! That's “step-down design! ROOMIEST! Rooicet seats of any hon the road! Leg room te on : pent friends, room to spare. That's RIDING-2ST! Hudson sits you down within the base frame, and ahead of the rear wheels, where safe, soft, smo-ooth riding y gina! “Step-down" design again! flys nd PERFORMING-2ST1 The all -
ONLY
TT a - re ah @
Ch
v
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“Phone or write today for informa tion how this tractor can help YOU.
DILL IMPLEMENT CO. |
New Hudson =
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$2361 88
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IMMEDIATE DELIVERY ON SOME MODELS
(¢) a high level of residential and
| industrial construction a By and large, the economists ndustrial ruction to arrest
(farmers wait. They turned 0. count on (a) high federal expenditween. farm tyres on armament, (b) risin |buildings, clearing roads, caring state and. local government os penditures on public works, and!
decline. And, they expect that if large-scale unemployment threat-
ens, the federal government will
step in—with public works of its own to prop the economy.
MA-5358
‘his vocal © towel in? Those ar tomorrow b) Times, non- _ your hands To get 1 questions an trouble and go through | To begin
Outfitting C
to give me base of ope an animated
Picks Soft MARK 1 softest easy the impressi a marathon I didn’t arg matter in th " In order hear as well Mr, Frank { my disposal. There's 1 noon tomor reading and operation of Hotel, I'm g
Big mou ing oils, *N his "filibus
‘Lea
WASHIN Georgia has nificently hes Us Alone W blissful imm to go his wa, do anything, It's a thi nation a litt time-out fro
shops to giv “sponsibility « Call it “ “Let's Turn “Just Let's £ how many books, a ma time.
Too Many
THE MC the nervous: six people, ! diverging co He is ha night. He is reprimanded pleaded with He hauls any given « feathers ags
"1s black and
The huck that breakf: pills, those c team, that house, that penders, - tha dog biscuits
WASHIN U. 8. Capito Congression tribe of wil These pr redskins sti beside the pe the freshly scarlet buck -ralsing reac the spring | I never Capitol cont Sen.-Kennet est little ex none. .No news the auditors . salesman cc Writing of his officie man from Henry L. B was mittee. “And go ing about h lions of doll covery of a
Justa $2
WHAT better than without an}