Indianapolis Times, Indianapolis, Marion County, 3 April 1949 — Page 52

Control Over Supply, Demand By HAROLD HARTLEY, Times Business Edi AND BUSINESSMEN are looking eritialy at the Economic Stability Bill of 1949 which would ‘put a tighter-than-ever harness on business. Indeed, they hy path to state socialism. » e as see it, But business men f . would give the President, fit as be much worse than - + ampiste wr pr over supply and ation and would prevent mecesoly normal adjust- sary normal adjustments and ment. demand, free enterprise. _ {thus prolong inflation. The bill would permit the Pres~ - Inder the bill, businessmen fdent to go into the importing feel the President would become business when and if he should Mr, 'Law-of-Bupply-and-Demand, there was a short supply In addition to the power. of pro-

sum, lumber, rubber or even man- also have the power to transport, ufactured products, istore, process and refine maThe bill carries an anti-infla- terials,

< Banton. Businessmen For Truman

decide in any field such as steel. petroi- curement from abroad he would! iS

Biggest Banker The President could also make

loans to private industry, to state, or local governments for the expansion of capacity and production. | |

able competitor. And under the loan end of the bill, the President | could 489 nts the Danuing oe icould be_given the top side of the ness itrade through political mani ar) money in the world, the U, 8. a ough po 4 Treasury. | When the government takes One part of the bill is most over business, or eyen gets into dis ing to business. It 1s the a position where is can take over ; $0. say. where materials go. business, that can well be near! politically, this eould be/the dead-end for free enterprise, disastrous to any business, With-/and for a lot of other things we ~ put materials, a business cannot still have on the free list under) . manufacture, and a competitor the federal constitution.

Many of us are thinking of tele“Electronic Future vision In terms of vaudeville gags, girls, juggling acts, cooking schools and stock company drama. Actually it is much bigger, and its possibilities are much Sale broader, in the field of business. = ’ el Charles Horn, the tion of America who now lives ii Mexico City, was in town last see what is going on, how many wi, He knows electronics from customers there are in each de-| up, having helped to partment, and how the clerks are pool gthe patents of the American handling the business. pore and Telegraph Co.,' Strangely, the Federal Gom-; General Electric and Westing- munications Commission has n house to form RCA. {control over this development. Tt : Mr. Horn, a youngish 55, tells is not done through the air waves ‘of some five or six factories being but through coaxial cable leased run by $etvision from a centralifrom A. T. & T. It is weather: . control poin [proof and fast. It saves money, He als0 oe of 11 drug stores too, by centralizing and consolibeing operated from & central of- dating bookkeeping offices, and ~ fibe through television. And cen- enabling executives to see as well * tralizsed bookkeeping is a cinch &s hear what is going on. | television, | Watch this development in teleIn York one of the largest vision. It will step up production, | dar stores already views|cut ‘costs and afford a better its through televi-/quality control of both service! sion screens. Management can!and Snanutactuing.

ha

gn

bi ace 1 quing Thom fa riovily betray Ror d Here is the 45 rpm record player production line in is waging « finish fight with Columbia's 33 rpm

Pocket size vacation folders, embiazGoing Pigees oned with alluring aT scenes and Ys crawling with’ unrestrained Adjectives, were in the mail last week, coaxing Hoosiers to come and spend. It was the first casting of the na Wh here Jotiare. ~shaw natives walking tropic ‘san 5 woven fruit. baskets on their 8 Hop i Reads, ultra-smart cabanas over- already were loaded for FKurope| . Jooking the sapphire Mediter- | Which has been tidying up all , . ranean, snow-hooded peaks of Winter for the American cash the color-cragged Rockies, lobster crop. ‘traps piled on the salt-soaked' The railroads are bidding hard wharves of pine-clad Maine-—all| (for the tourist business. gave the Hoosier travel itch a {put © on special

hearty tug The it harvest should be!manners and best menus to kee heavy thiz year, As early as Jast!as much of the travel money - summer some of the boats possible in this country,

The Family Car Railroads will sing the praises of

sunny California, the Maine coast, the - Carolinas, and IY the sieady not-too-hot summer temperatures of seacoast Florida. Busses several years ago moved in on the tourist business. They claim you can see more of the country from & bus window than from a railroad car. Thair hig edge is price. They get a lot East or the West, or wherever of business. there are relatives to visit. But public transportation’s big-| Everybody will be going somegest competitor is the family auto- where this summer, but in spite mobile. The average American lof the - enticing travel folders, still gets his two. weeks vacation | most of America's vacation money * with pay, packs the wife and chil] will be spent on the home grounds. dren in the car and takes to the! After ail, who goes to Europe highways to go to a lake resort ion two weeks vacation with pay?

The ice cream business has-been off, It is hard Yum Yum to account for thé failing appetite of Ameri. cans for this favorite delicacy, but almost any ice cream manufacturer will tell you it is true. The business, however, seems destined to take a new course, 3 Most Hows refrigerators now sold have freezing compartments, and Rad number of deep freezers pold . . vt “ta fantastic. ‘This has been the| NS [Tener and serve anytime. “tip-off to the ice cream trade to, BI&8er packages may-bring a 0 infor bigger packages which lower price for ice cream. Bigger wil at Into the freezers. packages usually JT} Jo Jes. Abd s alone shou roaden the Gallon packages may soon be mariet, hoom the business. And Pt common in the grocery stores and why on earth doesn't someone _ willbe fgund in their {rozen foods make some of those good cake«i departments. Buyers will be able dough cones to keep around the TE _ 10 take home a gallon, put it in'house for the children?

(General Motors is pointing its future Rocket Rumpus . “power production toward high com-

_ pression ratios. The Rocket engine, well launched and promoted, promises more power per pound and more miles per gallon, It takes 4 octane gasoline.

trains, deluxe! | equipment, their most courteous

most any octane rating they wish, and the oil companies will deliver the goods.

demand for qualities above the it ethyl ‘level, and until there 1s, there is pat likely to be much the appearance, or the number or pumps, in your filling station. , » »

A STREET or RUBBER is

= y Big industries do not like this. They see the government pitch-| i 3 3 ing in on’ the side of the small producer and making him a formid. | ’

the first annual Automotive Equipment Exposition to be held May 26-29 at of the 500 Mile Race. John Schaler Ill and Coleen Corman, readyman, ready

shead

—— i Those old buggies are still around. This 1913 Buick will be seen in the old-car show, a part of t of

My ete ae teri ed

Soar to New - Winter High

sition to be held May 26-29 at the State Fair to go, are ous to

Sheldon A. Key, |1th District commander of the American Legion, sponsor, of ihe show.

Caravan Sales Congress

To Be Held in

Widely Known Speakers to Be Heard In Effort to Improve Service to Insured

Four life insurance authorities meetings this week sponsored by of ‘Life Underwriters. The meetings will be held in G

the first research engineer ¢ of [ the Radio _Corpora-| indianapolis, Apr. 7; Muncie, Apr, 8, and South Bend, Apr. 9. Ray T. Wright, Provident Mutual Life Insurance Ce., Lawrence, |

{Kas., trustee of the National As-

{sociation of Life Underwriters; On The Farm—

Purebreds Keep Farmers in Black

will be introduced by E. A. Indianapolis general agent - hel {Northwestern Mutual Life Insur-| ance Co. Caravan Sales Congress William V, Hawkes, 2 ohager| for the Metropolitan L ance Co. at a arbiry: Snare | will be introduced by Easley 'R.|

U. S. Cuts Support 10n Hog Prices

WASHINGTON, Apr. 2 (UP)—

will be heard in a series of four|HOF Price supports for the Aprilthe Indiana State Association|September period will be 27 cents per hundredweight . below - those reensburg Apr. 6, Columbia Club, for the six, months through. Mar. i131, the Department of Agriculture announced today. Support prices for the period ending Sept. 30 are based on an annual average of $16.75 per hundredweight, Chicago basis, ° for good and choice barrow and giit butchers. Supports are designed to reflect PO per cent of parity. Beginning at $16.75 per hun|dredweight, Chicago ‘basis, in ‘|April, the average support price would advance to $18.50 per hun-

Four Cities

Best Strains Eat Less,

Reach $32.50 During ~ Week; Receipts of Sheep Steadily Lower CHICAGO, Apr. 2 (UP) ~ Lambs brought $32.50 a hundred pounds to set a new all-time winter high for the Chicago livestock inarket this week as the upward trend in sheep prices continued

While the price per head moved to within 25 cents of the all-time] high for lambs sold here day-by-, day sheep receipts went steadily lower, = The United States Departmént of Agriculture estimated 4700 sheep comprised the saleable re-| ceipts for the week ending yesterday. This figure was 2300 below last week's shipment. Sell at Record High As a result fed slaughter lambs advanced 50 cents to $1.25 and slaughter ewes and bucks) went up fully 50 cents. The choice wooled lambs sold at the record high with No. 2 shorn lambs reaching $30. ~ 2 This week's saleable receipts of other livestock totaled 28, tle, 2400 calves, and 38,200 hogs, according to Department of Agriculture estimates, .~ - Compared with last week, slaughter steers and heifers were steady’ to 50 cents lower with most of the decline on medium and heavy, steers, - Vealers were: strong buf most stockers and feeders went $1 lower. A load-pf choice to prime 1308-pound steers brought » for the week's top. Loads of average to high-| choice steers sold at $26.50 to $28; bulk good and choice heifers $23.50 to $25.50 and good and choice vealers $27 to $30. Several loads of good to choice 875 to 890-pound feeding steers| brought $24.40 and $2450 and, most medium and good stockers and light feeding steers sold at 521.50 to $24.

to be the market's major feature. |

800 eat. [PY Philco and other companies.

Electric Storage and Willard re- from 1948 New homes started duced battery prices. Jones & | were down 6 per cent this year Laughlin Steel Corp., to “get com-| compared to last. petitive.” marked down its quotations for hot rolled bars structural shapes.

general chairman of the series per cent recovery. which is being called the Caravan | ‘ Sales Congress. He is agency|the Apr. 1 deadline for placing isecretary of the Indianapolis Life corn BY Insurance Co,

Conn., of agencies, formerly with Purdue, presented by Fitzhugh Traylor, president § (General Agents Association and Indiana manager for Equitable,

(of the Caravan, will D _Curavan, Will preside,

ter Early Rise

reaching a high point in the mid- -|the fat, broad back of a regisdle of the week, grain futures = prices showed a gradual recession | and sald, “The price drop hasn't seemingly due to decreased gov-| ernment buying,

bushel $2144 when the trading closed farmer, summed it up:

here $2.16 at the Wednesday close. than last Saturday's price; May ficiently and bring premium oats % cent higher and May! Prices. SoTheg ne 4% cents higher. | While lard futures averaged 50!

They will | conts a hundredweight higher | their co-operatively owned rural than prices a week ago, “=

wi PE can key thelr engines to al-|1 :

Just now there is far too little/In

: BEE Bum Thy

Blackwood, president of the In-|

Gain Weight Faster

dredweight in September.

Hog prices were under the

!dianapolis Association of Life Underwriters and Metropolitan Times Farm Writer manager here. Optimism of Hoosier farmers Hilbert Rust, vice president and | rose a few points last week with managing editor of the Insurance {the prospects of a good crop sea-!| Research and Review Service, will son and the government's word ibe presented by Doyle Zaring, that farm prices had made a |

By HARRY MARTIN

Living Cost Up 91.4% Since '33, Librarian Shows

pressure of continued slow .turnovers of pork. By the end ‘of the week the top price had dropped to $20.75—the lowest top| figure since Feb, 11.

Prof. Butz to Address.

Farmers ‘were rushing to beat |

under government lo {They refrained from selling 20 Horace R. Smith, Hartford, Per cent moisture corn when assistant superintendent they could store it in U. 8. apCorinecticut Mutual,! {proved cribs under support prices will be! {from $1.43 to $1.47 per bushel. Fay Fix, administrative assistant for the Indianapolis Commodity Credit Corp. office, esti- | mated that 700 corn samples had {been turned in for testing.

t

the Indianapolis) and Managers ™

of

Doyle Zaring, general chairman, The purebred livestock business

was looking up. “Billy” Brown pf Bloomington who keeps his ® Hoosier Acres” in the black with registered white hogs and whitefaced Hereford cattle smiled, “We had our best year in 1948 and we're not worried about the future.” Up near Peru, ‘Keither Vance, another Hereford breeder, slapped

ain Prices Di Dip

CHICAGO, Apr 2 (UP)—Atter |& tered heifer at Fairlea Farms,

{hurt our business, It's our breed{ing stock that brings our customMay wheat, atin’ 114 cents ‘al®rs back” . above last Saturday’ gl Worth Hodson,

Rush County “Our reg|istered Herefords are profitable.

| They don't eat as nfuch as scrub They gain weight more

yesterday, was selling at:

May corn was 1% cents higher Cattle.

We're building our herd May | and encouraging 4-H Dboys to however, was cent 1 start with good stock.” % nt lower) Indiana farmers are proud of | power systems. Indiana, Ohio and Michigan rank first in farm elecSensitive » Reports * iritieation in the Midwest with The market continued to “b€ gg1 per cent of Indiana farms sensitive to reports. Wheat fu- getting power from central sta. tures were particularly susceptible tions, to government bids in the cash

wheat market. During the week, good prices| tudv | ublic, for the cash article had contrib- | uted to the“rise of futures prices. | However, the rise was checked by} reports that the favorable cash or or g ions prices would bring large. volumes | of wheat to the market.

Methods of establishing better c Jaile ysstarday, he Commedity] public relations. and improving a int eer Spattedly waked employee relations in Hoosier {banks . will be discussed by InSy Tor ath he! Gult de gjana and Illinois bankers at the Indiana Bankers Association's] with a favorable report on winter |g, ¢ pyplic Relations Conference, the futures market, buying in| wednesday and Thursday in Clay-| pool. Hotel, | nL rel Evwwurs wil include Bb 3 a: previo! { Lindquist, Yio qresident of the | ays, and prices were generally agalle National Bank, Chicago; lower with the government mak-ipne A C. VanDusen, associate a ing no firm price bids. {fessor of Psychology in NorthTn Jetiveries of reat, Mav} westérn University,” Evanston, fm; Bn odin te |tinental Illinois National Bank] ; ‘and Trust Co, and J. J. Spindler carlot sales in the cash market, or Farmers and oD rChaAnTe Dan SIE Highland, 111 Dr. Johan M. Chapman, presi- | ident of Study Plans, Inc, New| York Qity, and associate professor of banking in Columbia University, will open Thursday's pro-

Whalesale Prices

Down .1 Per Cent WASHINGTON, Apr. 2 (UP)—

Others include James M. Givens, | Willis B. Conner Jr, Leland Crawford and John M. Zuber, all of Indianapolis; I. IL. Matthews, South Bend; Herbert C. Morrison, | Crawfordsville; Walter H.

one-tenth of one per cent in the] week ended last Tuesaday. The department's index of; prices for commod

DOWN

837,000 ‘barrels from the preced-i| Chen i stocks totalled 128.074.

{cent since 1933, Harold J. Sander, Atbrarian of the Business Branch, {reveals in his monthly bulletin,

as 100, January of this year struck 173.8, a drop from last Oc-

index figures of the U. 8. Bureau of Labor Statistics shows 1933 at

tober, the one slight setback being FPurchreds Pay Off 'in 1939 when the cost of living] average dropped two points from Bernard E. Nall, manager of the 101.1 to 99.1.

A. Gordon Bradt of Con-.-

The Labor Department said to- gram. All other speakers for the Has semi-pneumatic tires and day wholesale prices _declined|two days are from Indiana. Ioearimes. th wheels Finished

| | I | 1 1 A 1 | 1 } I i i

up 91.4 per The cost of living is up 914 Peri Chin Store Council Professor Earl L. Butz, director of Agricultural Economics at Purdue University, will address the annual meeting of the directors of the Indiana Chair Store Council, Inc., Apr. 15 in the Athleti¢ Club.

TV Center Show Ends |

Television Center will be open for the last of its three-day grand) opening in 2801 W. 10th St. from 1 p. m. to late evening today,

now in the mail With the 1935-30 average rated

oher’'s high of 178, Mr. Sanders’ summary of the

91.2, with a steady rise to last Oc-

center, announced. '

Price Cut Prospects Couse Economy To Move on Below-Consumption Basis ‘By 4. A. LIVINGSTON WASHINGTON, Apr. 2 In the face of & bombards ment of disinflation statistics and decisions, President True

man this week fought on for his anti-inflation program, But Congressmen were increasingly reluctant. to go along

with his requests for higher, {relaxation of instalment restrice taxes and standby price con- tions 2 a ‘month sarller. . ping trol. ae Roebuck & h a broad price cuts; Senate Democratic Leader 82° shirts and pajamas were Lucas of Illinois summed up sen: IED an fT per cont from timent on Capitol Hill, when he jevels quoted in January. said anti-inflation legislation was, Meyer Kestnbaum, president of not being pushed. Congressmen Hart, Schaffner & Marx, men's had these recent economic factsiclothing manufacturers, told to judge by: !shareholders January business The Federal Reserve Board re-'was good, but February and

duced margain requirements on March sales were off 10 per ceat-

stocks from 75 per cent to 50 per; from a year ago. The company’s cent because credit inflation in/first quarter sales were up 48 the securities market no longer per cent, but profits dropped 25 seemed dangerous, This followed per cent.

Autos, Radios, Homes C7 ol ars in the ‘$1800-$1900 brackets might be selling around $1500 before the year is out. And Kaiser-Frazer Corp., coincident with a switcharound in

fop management, cut car prices $198. or about 10 per cent. ¢ - Westinghouse Electric announced 20 to 50 per cent cuts in

radios, followi following a ‘similar move, .. ~~ wards in January and {February were down 25 per cent

The Federal Reserve Board ine and [dex of industrial production probe ably hit 185 in March; that as

The lag in home building con-| {against a high of 195 last Novems

tinued. Residential building con- ‘ber.

There are limits to under Economic Shakeout consumption. Socks and stocke ings. underwear and shoes wear out. Business inventories become reduced to unworkable levels. Department stores, for instance, {may lose customers because they're understocked, or manuface turers may not be able to make quick enough deliveries because supplies are low. And so, sooner| = - or later, a pick up in demand is the market, ing 1 figure. when {prices will read a bottom. This bound to result. For this is not, sizing up is a slow process. And the kind of deflation that feeds usually, the Ligger the item to itself. Consumer buying power is be purchased, the longer’ the prostill “high; potential demand is!

cess takes. eat. People are merely ‘waiting a the market, meanwhile: sav- Housing 1s a prime example; A

man doesn’t buy when prices are ing . money, which will be used ;,png: ne tends to walt till he

thinks ,a bottont has. been reached.’ And what's. tree of “homes is more or less true of ¢other things. Food. alone, is a

later. The *hest sign to date is the, decline in_ initial claims for employment insurance. In |

lary new claims hit a high o

{ tponable purchase. 415,000 a week, now they're ¢ nonpos down to about 380,000, ~Col-| _Thus.any oroad. quick business

{upturn hardly seems likely, And laterally, the rise B -continued makes President Truman's

claims slims down. In uary, insistence on onti-inflation con« the number of unemployment , all the harder to fathom

claimants increased by 100,000 {unless the President has a dark week, in February by 50,000; no no secret in the back of his mind—

the number is less than 25,000 such as much. larger expenditures This leads to the belief that total! than heretofore revealed—either

unemployment, now around .3.5 won't rise for war, or public works, or social iillioh, A n't much above, cq cririty, or something else,

‘All comes to this! The econ-| ALLL. ea of omy is going through a shakeout. Auto Jobbers Set Show Businessmen are squeezing i] A show-for garage, fleet, service for the first time since the war station and. car dealers will be they really have to-—under the held by the local Autimotive Re{goad oof , competition. = Workers placements Parts Johbers of Ine are more productive—they don’t dianapolis Wednesday evening in want to hp ‘weeded out in the lay- thé Indianapolis Moor Armory, offs. And everybody is sizing up '2100 8. Pennsylvania 8

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