Indianapolis Times, Indianapolis, Marion County, 1 May 1949 — Page 35

: : : : : x ne _-. ER. -_ a iia -_ w sn . : Tr aa ior i ; : : i = dhe 8 XA SUNDAY, MAY 1, 1949 ; : THE INDIANAPOLIS TIMES ——— : pone — — PAGE Shy 1 1 The Week In Business— - ‘Mountain of ‘Gold’ Becomes Junk Again = 15 Small Qvtieck in the Nation— * |. Half of Order Backi x NEL Mal ysiness Presents |. gnair or Order Backlog In St . , Business Presents Et’ ind {In Stock List, myddied Picture Crabbe : 2 5 = |: §Good, Dealers Find | WLR LOL ‘Muddled Picture <==] | State Auto Survey Shows Business Trading Drops ~ Some Firms Show Increase Over | . Better Than Most Had Expected | 1 industrial Shores Net| 18; Many Companies Report Loss xin rl. By HAROLD HARTLEY, Times Business Editor ndustria 3 nd By J. A. LIVINGSTON , : : Sri INDIANA'S AUTO DEALERS have stopped second-| Small Gain as DESPITE (a) the unsatisfactory level of Easter sales, i— guessing prosperity. To put an accurate yardstick on public| _ Utilities Ease (b) the drop in business loans, (c) the decline in steel scrap, : demand for cars and the manufacturers ability to provide, {; BY ELMER C. WALZER lead, zinc, and copper prices, and (d) the general uneasiness » ; them, they sent ou questionnaires to ‘dealers whether their NEW YORE, Apr. 30-4 series throughout industry, 1949 hasn't started off too badly— business is as sick ag people; ee era That thay) of small gains and losses during |nrofitwise. But it hasn't start- | : : think it is, and to measure NE areplion, reveal lists of Se tne PO Wen dent Ok ail ed well either. Mo iggest oe bie o an the months ahead. organs. . aL had Soanbed finished last Saturday. First-quarter reports show | qumps for quite some time, pot . Last Friday in the Empire Room trom 50 to 60 per cent of the Ming Qeciined fron; the Bie: lum the vast majority of indus aply textile and apparel manufac = of the Claypool Hotel Joseph E.\orders are still deliverable. | Yous netted a rage. gain, while | trial companies made money. Out tyrers, whose profits were off 45 “os O'Daniel, Evansville, president of| But it isn't quite as hard to a utiliti ed. [of 226 companies in my tabula- | ‘ il st 55 a the Auto Dealers Association of make a deal for a new car as it. rails and u es eased. tion. only 14 reported a Joss. PET cent; retail stores, 55 per cent. ® ; Indiana, tok a Solded piece of wag last year. Forty per cent of a arket DE However, increases and decreases and housenoia equipment, aows Tre bind Re ~ a the dealers still fequire a. cash, many things—the Berlin block. |in Profits over 1848 were a stand- 60 per cent. Also down quite a bit

-members, a questionnaire which

chart of the automobile retail business in Indiana.

Herman Schaefer, executive sec 5

retary of the association, had prepared, with the help of the board

went to some 700 organized Indiana dealers. . The questionnaire did not mince words. It asked straightforward! questions and received an amaz-| ing number of frank replies. i Many dealers, contrary to pub-!

Deluxe Preferred

lem.

deposit, but 60 per cent will put you on their lists without so much a dollar down. = Delivery dates are still a probOnly 5 per cent said they could make immediate delivery. Fifteen per cent said they could deliver cars in 60 days, 25 per cent in 90 days, and 25 per cent in

{six months or more.

Forty per cent of the dealers said the number of prospects who come into their salesrooms re-| mains about the same as last year. |

Proof that American tastes still run| = pretty high is contained in the fact that two-thirds of the car buyers want de luxe models, but 55

per cent of all buyers are complaining about the high list prices,

2-2 ". . Seventy-five per cent of the dealers reported there has been . 10g Prices Still

increase in the use of the instalment plan in car purchases. The in-!

Long before steel producers announced they were running at less than rated capacity, the funk ing

0 BA

dealers sensed a change in steel consumption. The reason was the pileup of scrap, and its tum

price. Scrap fell from $42 a ton of pressed scrap at the America

to less than $20 in Indianapolis n Compressed Steel Co. on E. Ma

. are not uncommon.

ere sights such as this mountain ryland S

On the Farm—

Millions Here

Convention Visitors Spend

Every Year

ade, the Chinese troubles, labor legislation, tax legislation, and] the government's health and farm programs, Meantime, industry lead

predications. The favorabié seemed to outnumber the less optimistic. Steel executives were at variance, one predicting a drop to 75 per cent in the operating raté and another taking an optimistic view. Hint Price War Ward's Automotive Reports noted a move toward greater labor efficiency was bringing labor troubles and foreshadowing a price war among manufacturers, probably starting in July.

off: 113 companies reported a rise, 113 a drop.

i Steel Comeuppance ers| their comeuppance. Iron and steel made favorable and unfavorable! first quarter, up 64 per cent over 1948. Yet Ernest T. Weir, chairman of National Steel, which also did unusually well, isn’t optimistic what's ahead. He said to shareholders:

“I'd hate to tell you how low the ingot rate will be by the end of the year, but I'm thinking along the lines of down to 75 per cent, I'm not predicting that. I am just giving that figure.” That's A marked contraction from the current operating rate of 97.5 per cent, which is off from the extralordinary high level of 102 per cent six weeks ago. The steel industry, General Mo-

/were paper and pulp companies 131 per cent and oll 23 per cent.

The industries which now are faring best, may soon have profits were unusually good in the

the highest level on record) and du Pont profits (up 44 per cent) are excluded from the tabulation — because they're so dominant — the overall increase would be only 7 per cent. And if the 18 iron and steel companies were also excluded, the gain would vanish:

Utility companies (excluded

about

Motors profits (up 42 per cent to

Profits would be down § per cent."

crease runs from 25 to 50 per cent. 5 ge | . ’ . he total howed in of i Highly favorable reports by tors Corp. and du Pont saved the from the totals) showed a gain The main trouble in making a fe tion hig Rot come In ~ Heating Down Survey Reveals That Avera ge Guest are he rn corporations first quarter. The 226 industrial{20 per cent. Only three out of 32 deal for a new car lies in getting| Strangely most dealers said] Contributes: $47 to City s Business ~ were made during the week and companies Yeported a gam of i Bitlis jalied to Improve on their together the down payment, the they elieved Yusiress Sonditions Farmers See a Thioae people you ot Rearing Sonvention badges Ane entific: These SliG WHE expect to stiles cent over last year, enera, st qu , dealers reported, although the re- ; Vv! - on cards downtown almost everyday are importan e¢ business Cont. changer in Reguation w Sut ne same ts 8 vear 150. |. Further Drops o the ity They come to own with money. At 8 Whole they apend in thelr {ours round demands. | | REVERSAL IN THE MARKETPLACE . have Shade payments easier over goalers in the state who believed By HARRY MARTIN TT a the bidinldeponidietie by ysis J. Cripe, secre- firm on the week. The auto group Farm prices start up after 8-month drop; innon.a _perioc. * [they ‘would sell more than 500] TE » tary of the Indianapolis Convention and Visitors Bufeau, that the balanced off small gains and dustrial prices turn down. Indiana dealers reported theicars next year. | JI08S: called “morigage Jifiers sit ds $22.41 a losses, American Tobacco was a! | 160 parts and service business, usu-| Eighty per cent of the dealers, PY Jadians James. liked 1a341averagn visor _Spen : 2: strong spot in the industrials. 7, . any a headache, is off 12.8 per however, reported their profits; T°% rin evn The seri GAY and remains in the city 21 Ma ; Ww eat \ ets Rails had enough losers to send 180 Co cent. ’ were less than last year. ni ; days. Each convention visitor on| ? ] the average down a fraction. So A ’» a The survey answered an im-| There is the Indiana auto busi- BIISS CUTVe, near S18 Gown {TOM pie pis teaves $47 of “fresh did the utility group. Otis were, |} 10 vat wo ©} 4 portant question in the used cariness in a nutshell .from the ®°1<v, Seeme eade or an- . | ® " th st part despite a » - : {other sa imoney” in the town's business easier for the most p p 3 eve : business. Dealers reported thatidealers themselves. 8. : ran td in - lsome favorable earnings state-| |* 130 2 most buyers were still willing to| If the auto dealers who had| Farmers read between the lines tills, : | "ments. Food, tire and copper} § ! oo g pay between $500 and $1000 for a|their leanest years during the i aN appeal from Agriculture, In the table below the large hares held firm 1 ‘eS: used car. But 40 per cent were war and their richest years right Secretary Charles Brannan tolsums spent for labor, hall rental,| CHICAGO, Apr. 30 (UP)—Al-# i > : willing to go a little over thelafter the war. expect business to | Congress to let him try his new exhibit equipment. decorations, most all advances in grain future Auto Output Drops 3 de ickub $1000 mark. hold a fairly level keel, then direct-subsidy program on hogs. printing, badges and group enter-in. es on the Board of Trade this Automobile production declined ctube Dealers were emphatic in their other husinesses may well profit | 1° Tariers iis Ineant the BOV-tainment were not included, and eek were eliminated when santo 133.714 cars and Jrucks fom 100 100 belief that competition has re- 3 ® , ; jernment expects lower ‘prices. are conservatively estimat at| the previous week's : units Ee torn, es few in the rom thelr i ana Farmers were beginning 10 gpother million and a half dollars. 8 cent dive in May wheat upset|;,cause of labor difficulties ine 90 oF small car lines thought real com-'immediate future |watch hog weights. Although the|This should be added to the figure the market, a review of prices volving 35,000 workers, Ward's Miser : feeding ratio was still favorable,'tahulated below. {showed today. reoprted. Py ol Pepend jr 3. A. Livingston pion Down a Little The Home Show, which closes tonight, re-jthe heavies were not preferred. .This is how visitors spend their | The nearby deliveries of corn,| The American Iron & Bteel Inture of Indi 1 BE ee Heavy Weights Not Wasted. I;money: oats, rye and soybeans were al|Stitute reported Bees aclty with! | W T t BE ins or yourseM! °° Ihroha ae oars y Persons! Harold Shannon, farm operator|. . o' mmegentais "IETS 31.00 33508 reduced to last Baturday's price2t 878 Per ae 7,400 net tons! tee age 1arger 7o per cent. Per-share earnings Is, 3 : pat Last be ree hovered around the 80,000 mark. And In Putnam and Henricks Coun-Resteurants all types) 338 1331 3ig0t level when heavy selling. duringProdiiction at 1 ’ ay Thin Of $5.01 were the highest since the third quarter of 1929. And the Is, 3 types 2 ast y : ’ . ities, said, “There's $00 much lard Retati Stores. .. 3068 2380.4 54/Thursday's session plunged May of steel ingots and castings. iquarterly dividend was just boosted from $1.25 to $1.50 a share, - this years paid Biisupaner : ENRON With 2 Pretty fair now, and I don't gure it's profit- ject! Transportation. P08 WII wheat to its lowest price since|!® ® decline of nearly 1 per cent, pic gieel offers a glaring target when Philip Murray's United [lessufe of Bu spending pic Ure presenting a better show each able to feed hogs to weights Siehtsesing 2 Free 0.08 360801 Any 8 s from the previous wes, nok aT iGtkers: policy committee meets this week to draft wage dee . bove 200 to 240 nds.” He} i iy 371.97] 5 cline OVO re ro en The Home Show 1h one of the Jor” space, “Hin show nas an/aaded (hat Re expected the trénd ontEol Comment Jy cyl, BUTE, bY shorts ml the Iowleonl output and electriety pro; Saget envions re ue to tr, Industral pices have now elved and executed expo-| ? 4) I eh rar py 8.26023 cove ‘duction. Construction had a good “been goin - a I Te Seer Tolowing {0 Teverse Neel! Grund Serh 2hjoue Tam == risiasis May contract finished the session weelc at $145,936,000 for civil en. start about June 15, ‘The present i, monty following the earlier It of navingmailt, Home Show makes a prot) Wier Lie © STOP of may wp h J ed. th tat 82.10 a bushel, only 814 cents|gineering awards, a rise of ge contract expires July 15. ldrop in farm prices (see chart), well-earned result of havingipecause it is well done: And it is becomes scarce. A delegate survey showed tNAlinenind the previous close, HOW=ner cent over the previous week, The following tabulation, though That implies that profit margins thought it through every Year because of this assured profit that! Mr. Shannon is market wise. ithe 130,915 delegates Who Came pyer, this figure was 4% cents be- ha a Hise 0.16 per "cent over the by no means fully representative gre being squeezed. Corporations R. 1551 (war years Sheeris) since it D2-the show pit can be dressed mn He sold 606 heavy hogs within 25 to Indianapolis to attend meet-i gy last Saturday's price. Other| so esponding week of inst year, |of all industry, gives a fairly good! must price competitively and strive : a, oy a al wee a fief Pore an eid Te ih wi Pos Vials May Oats Drop building has totaled $2,462,132,000 quarter. It dot Pe The real test for business—and ok - ’ wl eed lane lo. 3 Th May corn ended the Thursday|—up 18 per cent from a year ago. hanes a omraren with fn Ange CArnioge— will come in the Jousth ; : Car ; . roms i ' : | ' o summer rus ae $ If you hear someone complaining that money is potting] : Private Car © _ 108.3% session at $1.34, a par with Sat-| 3 ter of last year: also the Jur er. n, sum 1 02 scarce, an investors’ service in Minneapolis asks you not C. H. Gibbs Named 130,915 uray, out aay Dap ere 2 % Shell Appoints Kluck ber of Sompanies in each Tho auto industry wo _ Oa : bo Dy Te American consumer has $1.02 in real income as Plywood Manager Insurance Executives beans %. Only I, showing 1n- Sales Manager Here £ op Which reported io steel sompanies. 8o, well ” compared with $1 last year. What does it is the fact that wages| Appointment of C. H. Gibbs, : dependent strength, held abovel « 1, Kuck, sales manager of, id equipment and PADEr ae judge just how mu h t fallen while the pri f food and! 6102 N. Sh Dri To Discuss Butler Plan last week's level e the TA ME {household equipment and Pabefirent demand, as distinct from (per hour or per week) have not fallen While the prices of food and 61 : SNErMAan; rive, a8 man., 14 : |Shell Oil's Baltimore Marketing and pulp, all companies reported sqved.up demand, underlies the other commodities are Jess; Indiana Gas & Water Co. Inc.| 28¢r Of the Indinapolis Plywood| Executives from 20 life insur-| The trend continued in Friday's pivisions has been named sales|a decline from a year ago: market, jer ters ya present of he association Cys nr lance comunie from, thrghoutcading, ana May whent sroppedmamager I To a er He ee | { + Y ', hy { 3 . 0, pe a, Bt 3 dicate) reports that the cost of el IN hat the) day by E. Blin Butler University tomorrowicents below last Saturday's ginclatr, division 2 | ! % housing remains moderately UP-\y;, oi nniy of gas allotted to the Barnhill, ma n-\morning to discuss the Butler In-|$2.23%. Corn, oats and rye were manager, an-f 1 1 I - ward. !state is improved by the Federal! ager of the cor-iternship plan of training students again sympathetic to the decline. nounced yester- 310 |B { 3 = Gas companies of Indiana added power Commission. A. E. Hatley, (gt: : poration a ts tor life insurance work. However, $oyeant recovered and day, a 3 If x 20,000 customers in the last year. RY a5 ,affiliate, the In-| - J, Russell Townsend, a member were steady with last week's! Myr. Kluck suc- 3 Hf us waa Ti as —— at the convention of the Indiana uncle; Was elected President. dianapolis Wire-|of the Butler faculty, will report($2.24% at the close yesterday. ceeds F. H. Cain 4 ¢ 1 BIL RAR wn an A a oa Truckload of Champion TE a © ry a Sul EE eas the industry reported 9526, ! Mr. , at a round-table discussion. | ‘ transferr 0, NSEREREEN Liouor ooo 5 | Er tomers, a gain of 11.5 per cent. Plu s R o d H graduate of the O'Neal, manager of the Indianap-| Most traders evidenced little the New York of- a 1 - Rn But the gas companies were not, g eceive ere University of olis branch office of the Great-|surprise at the sudden price turn, fice as assistant aper & Pulp ~1 0 13 | Eis at atest Fuh entirely happy over the expanded) A record truckload of Champ- Michigan, joined West Life, will speak on “Seeing They said no particular develop- manager of the Bo Bi es - Vian) om i ; business. Their net incomes failed!ion spar® plugs arrived in In-| Li the corporation|It from Both Sides.” {ment had precipitated the declineretail depart | Jegtiles. Apparel tb} {uri Se ER ERE \ to reflect the increase due to| dianapolis yesterday for delivery| Mr. Gibbs .%¢ in 1047. Dr. M. O. Ross, president of [but believed it reflected the risk ment. \ Mr. Kluek . Tobacco _'...:rereesess 8 s [| «0 5 BEMIS higher pay-roll costs, higher ma-{to the Central Motor Parts Co.,| Previously he was associated with Butler, will close the meeting within ownership of nearby contracts! The Indianapolis Division in- Miscellaneous | “sess A In — i fo 14 terial costs and taxes. 421 N. Capitol Ave, largest spark the Aetna Plywood and Veneer a luncheon talk on “The Goal of at a time when the nation has cludes Indiana, Kentucky and a Corporate earnings seem likely D s i a L. B. Schiesz, president of the’ plug distributor in the state. Co. in Chicago for six years. the Internship Program.” a record stockpile of all cereals. Ipart of Iliinols. ito get worse before they get bet-| Jestes muni Jaane we C———————— ES ——— A —— IN BS I ———————— 3 90 Autos for Sale 90 Autos for Sale 90 Autos for Sale 90 Autos for Sale 90 Autos for Sale 90 Autos for Sale 90 Autos for Sale 90 Autos for Sale 90 Autos for Sale 2 | | | pr 3 dias 3 7 ; § iis: SRI, re vy ys E STAR RR So ce iW L/S INIA CY THIS WEEK END Le TLL JilHR ©) OPEN EVERY DAY TILL9P. M. Ui p———— Fn — ry on 14% v A 41 Ford Ch. ._.._$699}'47 Stude. Sed. .$1,299 3 * ’ ‘ 38 Chev. Sed. ...$199;{'40 Ford Cpe. _...$199 ’ ’ RECONDITIONED 36 Pack. Ch. __...$69 '37 Chev. Ch. ._._$199 } ' ® 1 * $6 + ++ IN A BUICK SHOP 48 Kaiser Sed. .$1,399 { '41 Buick Sed. .._$699 ' ° ' * ; +++ IN A BUICK WAY 31 Pierce A. .....$69 '47 Buick Conv. $1,799 ’ ¥ GUARANTEED 39 Stude. Sed. ..$399 | '38 Chev. Cpe. .._$299 > 911 N. MERIDIAN STREET : : ' v ; : "47 DESOTO Couertivie Couse 40 Chev. Ch. .... $599 46 Ford Ch. -...51,099 , 48 FORD Radio, Heater ....ccoeeusssss: ; ; . 41 Joss “ $1395 "1 PLYMOUTH “i 2 ia $1495 Roadmaster Sed ' 9 2-Dr. Super Luxe: radio, Dr. Super Deluge: radio. heat- \ b 47 BUICK Radio, Heater EE sca viaras $1695 37 DeSoto Sed. $199 4 Packard ---- $4 hasior %i-w, tires; low mileage: sner aus, eatuts ma $1295 er, seat covers. One owner . ’ Bpecial Sedan, | 5 ’ N . . . 41 BUICK 30... $1698 J |} 136 Ford Ch. .....$199{'46 Chev.Ch. _._$1,199 at BUR mie cw S190 | ’ nvear . hy . "46 BUICK Redio. Heater Cernessstareinaraes $1496 | 30 Model A $49 '40 Plymouth $495 Fite Toa, yr Oh Fa Fy $1095 eluxe; “low mileage; one owner, | - ---- ras, ’ Y on : '46 OLDS “78” Seae staas § | 48 MERCUR Radio, Heater «vievurssrs | 2a ‘ oe == Dade, maaler, § ag “a ne a, Q: 9% { Foam an oh Ee 1245 AB PONT! 146 CHRYSLER Rois Sedsn. $1395 | 2 v were Ve Ch. ie i 47 Hudson x $1 J '40 MERCURY , $605 cellent condition. 3 Station Wagon. Radin. hester, § | gu gee $14 | [| '36 Ply. Ch $9940 M Ch. $399 I{ «= 1 vom dsm i 0 "46 DODGE 2.55" senior Y ercury : . “annwe LARA Aen | ® ® =m - | Sedan, Beautiful Bi " '41 LINCOLN Brann. Lice New. wa.w. Tires 3948 42 Ch S d $799 '40 Pont Ch $599 '29 MODEL A “HOT ROD $ 40 MERCURY 42 PLYMOUTH 42 PLYMOUTH Sica Dix oe $895 ev. Jed. ... + GM... nasas pt apis: S200 | oo wise be. 0s SGM] gp ome 4 i ven. mene $798 FLTMUUIN Radio, Heater ..... Sears ' ' . . 4 motor, eater, '42 FORD 25°05 mer .......... $868 40 Ply. Sed. ...._$499 | '42 Pack. Clpr. ...$899 Carmo 1 ar ’ Special Sedan, T ! ’ 2 Model 0 ie # mised Y SUR Ratio, Rese evsivssssts inns oa 41 Pont. Sed. _._$699 | "41 Chev. Sed. ._ $699 |] +> cou sim si mow. 290 [ir grevmory ’ apap 4 dr. Master Deluxe. Radio ’ Radio, Heater ...... wirsrrannges 81 ‘ "41 DODGE Boater, a8 4 -corars. Good 29 FORD "40 CHRYSLER Rojnisetsn $695 47 Ply. Sed. een. 5699 Latest Ford I | 699 Coupe, Luxury tire, rade, has $695 | ine LDr. Ogos moter. Good tren. $195 Sedan, Hester r : " : : ! ’ "1 WILLYS Scion. $445 1 I "40 Ply. Ch. ._.._.$499;'40 Stude. ......_$399 : . | ' " LOTS OPEN EVENINGS TILL 9 (D. 8. T.) 42 Stude. Sed. ._$599 | ‘41 Mercury Sed. $699 U OPEN TILL 9 P.M. DAILY TERMS—LIBERAL ALLOWANCES OVER 75 OTHER BARGAINS . ki pn i NO FINANCE WORRIES—BUY HERE, PAY HERE Mos. v * : mvs vil WVIWIL a. 14 To Pay t pm. “o 1018 N. Meridian, RI-3344 Meridian at (Ith, RI-3348 | ; 8 NW HW RL3US 10th and Waals, RISMY [1559 pELAWARE - MOTORS, INC. 330 N. DELAWARE | —————————— i : . AY : ) Wh hii ; - cr ae i