Indianapolis Times, Indianapolis, Marion County, 4 September 1949 — Page 7

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SUNDAY, SEPY. 4, 19/9

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| THE INDIANAPOLIS TIMES

The Week in Business— | Schools and Weather Boost Retail Trade

‘Convention Delegates Crowding

Stores Aid Business Revival By HAROLD H. HARTLEY, Times - Business. Editor i

RETAILING SPURTED from the August calm last

week as if stung by a pony whip, Behind busier cash registers and fatter charge accounts wepp several factors, all leaving merchants breathing a little easier.

ONE: It was s r westher Fe Weater | ring, replenished for the fall ue + NUINACES Were trade. Selections were good and smoking again, and buyers in- prices were attractive. There was voiced ' their cool weather 9UAlty on the racks and in the ARSE : show cases, People weré buying w Ss. (again with their old pre-war conTWO: The teachers were back, fidence. Clerks are back, fresh the signal for school opening, 20d eager, from vacations. 3 and mothers had thelr young fry VE: Shan buying Sut the | mpetus of a new line of adverin the Stopes by the hundreds sing which broke out like . trying on shoes, suits, and stock- come-and-get-it epidemic among ing up on hard-wearing clothing appliance stores and departments. for the first classroom bell. Advertisements were bl THREE: Conventions were jam-|3FoY With “Re Dov on Pays ming--the-hotel-lobbles, sidewalls: myer = rromy 10 rr ry oy and stores. When delegates come pq one store put it, “Why not? | to JOWH, “they do “a little shop- when you borrow money from. a| ping, h : bank, you don't have to make] ; FOUR: Store stocks were al- a down payment do you?” 1] « All in all the season's turn seemed favorable, More Jobs and reports were trickling in that some of the factories were putting on help. Some railroaders were back at work (Beech Grave), but the Penn R. R. put.in-a-small-eutback.-RCA-was!| - . 4 moving briskly: into its fall trade and the parking lots of other fac-| 1 # tories were filling again. i The credit buying step-up felt by some of the appliance dealers | set credit agencies in a merry Te i A ——— spin, checking applicants for the, *XiPPer.” he got a polite no. " » One man whose credit was per-| No Down Payment Deals. | ® of 40 at the M fectly good.actually tried to get a | The staff o at the Mer- ad credit. The reason was that|.. ae chants Credit Bureau had its big- he had learned his wife was gost activity In six months tell-/ing to buy a refrigerator at “No| i . .. v gu stores whether John Doe Down Payment.” He didn't want (not Dough) had a reputation for|to spend the money. But the 0 ing paying his bills, If his record strait-laced credit bureau couldn't . showed he had, he got the mer- fix it for him, neither would the

chandise; if he was “slow” or a |store. . To Be Displayed R.

. Those who manage the credit accounts in| Young Credit the stores give a good report of the gene-

ration which is getting its first taste of liheral credit, New Sportswear During the war, the 30-day freeze kept most credit accounts in To Be Stressed wraps, If you did not pay for what you bought in a month from date of purchase, your-charge account. was tagged “Frozen.” It was-to The Wm. H. om To. id forkeep big war wages from TURRINg| oo rried couples are kee eping their MF y open its new Mar et Street 1 away with charge accounts. books straight. They are buying Store for Men Tuesday with full-

Block's Opens Market St. Men's Store Tuesday

ci Fala »

Graceful stairway to lower level from Market St. ; Re.

{Dullness Hits Stock List

. |during the pre-holiday week and

district anticipated nothing would

Outlook on the World—

Time Changes Historic Roles of U.S., Britain

Conferees Can't Evade Fact of

Reversal in Imports, Exports . By J. A: LIVINGSTON : mai TWO BRUTISH, not-to-be-evaded historical facts con _ Main Group Small front the Anglo-American conferees in Washington this By ELMER C. WALZER week: VS : NEW YORK, Sept. 3—fraang] ONE: We, of the United States sell more to the world natrowed on the stock market than we buy; Eo z i :

TWO: The people of Great Britain buy more from the

\ a . Coe” : Pre-Holiday Trade Dips fo 2-Month | Low; Net Changes in

sales volume fell off to a two-

month ow. ain the mal tat world than they sell, han st! generally” were small by several And unfortunately they are | "Crue =r Cr

|selected issues had substantial facts of long standing." [3 Routh Or ir] ng g {ments are sharply reducéd. Also

| As far back as the early 1800s, her manufacturing leadership has The lisg finished the week on Greqt Britain imported more than been lost. Yet, Britain's depend= small ns in the averages, | she exported. Britain was the ence on other.countries for food, ° Sales totaled 3,535,180 shares,! panker and shipper for the world. cotton, tobacco, and. other raw smallest since the week ending gne was also the world's great materials is just as“gfeat, if not July 2 when the total was manyuracturing nation—far ahead greater, than ever, That explains 3,333,540. A weely ago sales of prance, Germany, and the the dollar deficit. To solve it,. amounted to 3,661,940. 1 United States which was trying Britain must change her way of Traders moved cautigusly but/ty mature infant industries with economic life. She must reverse there appeared to be little bear-| tarifrs, : {history—and export more than ishness. Somehow the financial| Ag a result of two wars, how-!she imports,

be done about sterling devalua- The U S ? Si d The United States must also reverse histion at this time, and many be. 1 NE@ «+ 9: JIUC@ tory. From its earliest revolutionary believed there will be no steel ginning, this country has been an importer of goods. We imported Britstrike. Both these items come up| ish, French, German, and Dutch capital to build our railroads and for definite decision” in a week! Industries. We paid the interest and dividends on those investments or so, . with our exports of wheat, cotton, and tobacco. Our position as an While the malin body of stocks expert nation was the natural held to a new ‘narrow range, consequence and complement of Porter relationship which kept there were many special move- our position as a borrower | tven trade in equilibrium be-

ments, some induced by nate thom: cfiween the 1870s and 1914 has vidual news items. -For example,| But now, this coumtry is no been violently upset. Pacific Telephone and - General longer a debtor nation. Our giant] William L. Batt, president of Utilities rose on higher dividends, | corporations, like Ford, General SKF Industries, Inc, who served while Follansbee fell on a divi-| Motors, American Radiator and as the U. 8. member of the Britdend omission and Timken De-|Standard Sanitary, and so on, ish-American Combined Raw Ma~ troit Axle was off on a reduction have plants abroad. Foreign gov-| terials and Combined Production in its dividend. : |ernments owe money here. And, and Board during the Goodrich weakened early in instead of paying out interest and war, and who has just returned the week on strike news and dividends (which supply the world from Europe, summed up the rallied later. Coca-Cola soared 14 with the dollars nieeded to buy U.| crisis to me by saying, “America points Monday and then slipped S. manufactured and agricultural is just too damn for the back from its high. Oils en- products), we are collecting inter- rest of the world.” He went on to joyed a strong market in the! est and dividends. The debtor-ex-| explain:

fon. Thursday session “An mje “an

On Wednesday, low-priced titel , : ] tS sdnesday, low-priced uti: ECONOMIC ROVOIUTION een ‘going on in the ora

the trading. The turnover in. %ince 1914, but it has been blurred by two wars, After the Kaiser cluded a.block of 50,000 shares of! then after Hitler, we assumed that reconstruction would be quick {Commonwealth & Southern, and 20d that trade would be restored to a pre-war basis. 3 18,000 shares of United Corpora- of ul: SvevaL, restoration was impossible. Between 1014 tion... Each made a new high. . [an ) the United States had ~~ : > 1 : Active railroads did oy more developed at an amazing rate. We - ond aed mlaricels: 2 ey ends than hold their own. Mahoning bullt a powerful industrial ma- ”

ed TH Ee a or houses and refrigerators, cars and 100408 Nira 2 | carpets, and they watch their dol-| nothing down, has a good record, ‘avs brite | it mandgers say. It.is.even Business seems to be sailing into better than the 45-t0-60 age gTOUP.| y1,, #41) months with more jobs, a| They point out that their young pig jarvest, growing pay rolls pestraint is a mark of.characté?. and knocking the word “recesThere are exceptions, of course, sion,” at least temporarily, out of

| view racks loaded with warm fall

models, styled as keen as a razor's

edge. The store, thoughtfully concelved, is patterned to men's

tastes’ with a high note on sportswear, and -not overlooking the abundant needs of girls, boys and the very young, who will do their

Coal Railroad appeared on the tape at 475 up 32 points. Brooklyn Union steadjly made new highs In Tobaccos were bid up to new highs Tor several issues on a report of record output in the fiscal ‘year of the companies. Automobile issues were easier

the utility seetion.. Germany. and other industrial na-| became

chine, improved our agricultural Nh techniques, and in general out- problem. All I can do is stripped Great Britain, France,

tions, We independent and self-sufficlept. World War II accelerated the trend.

world wars, American supremacy

“but for the most part the young the business dictionary.

Tg

_ oratories.

[shopping in the attractively , : |Hghted department below the } Last spring home builders were worried. Some street level. : Full Houses of them withdrew from the speculative field,| The building directly across the which meant that no longer were they willing to put their own hard alley, west of the store, will have cash on the line to build a home in hope of selling it. |entrances on Market St. and from Some of them openly vowed at builders’ luncheons to build only the Downstairs Store. . when they had a buyer. But that did not stick..They discovered 3 Sitios, Black's Jiu ihe a bonanza in the economy home. |, oy 07 "washing on their own| ng: n remade In Indiandpolis these compact, nang og ody 8 [throughout with the advertising

: {department on the ‘third floor, modétn Httle dwellings cannot Be, “yoy of the small houses are ar. alterations on the secbuilt fast enough. filled as soon as they can be ved 14 and the new Men's Store on . One buflder reports that his in Indeed, buyers push the bulld- tne’ main floor to complete the

“It there had not. been two|yhroad. By the same tokep, E

on the week. Steels had smallin world markets might have de- market. [mat gains. Utilities were con- veloped more slowly. But it would kind of goods we want to [sistently higher. A few railsihave developed. Other nations Maybe what need is to gained a point or more. Aircrafts have neither our natugal resources| American market

rose on improved order ga) iptayed oF ie Backlog. nor our knowhow fof competition'niques on the American market.

country expanded its agricultural Industrial production balanced|of the anti-Hitler world, Possibly we cut me off small declines and gains. tion to domestic requirements as after the first World War. But 1

Losses: prod: n iE EE gasoline, » and ke X

houses are all gone before he gets| ers to hurry them through so they program, 3 the paint on them. It s the com-| 280 £5) Ju bosons the MIL OF) CC vistbia First Floor mon story heard ‘everywhere In "go 0 of the bigger houses are] The full-view front with broad the $6000 to $9000 price range. |moving surprisingly well, a sur-|/areas of plate glass will make

Egg-crate louvres guide light in clothing salon, _

go through a derangement in the export while construction, fuel ofl produc- drastic readjustment. Thus U. 8.| ket would be certain to jrodues {tion, and steel output howed| agrh 1s domestic _digemployment and

One reason is that the FHA prise to builders who moaned that the entire first floor visible from; ——

s f ° pas stepped intd-the picture in & the creamyhad been licked off the ip, street. WM $ Pp 5 i E rt big way. Loan applications are building market, | A graceful stairway of othr] ea Tices 00 Xpe Ss, flowing in, and most of them are; One builder had a $27,500 house mental metal will sweep to |

the Soy oing through, Apartment dwel- open only eight days, and would jower left from the Market se. T k i U d Jo are the best .prospects, have sold it before that if the entrance. . a e a ounce pwar couplés or small families who buyer had been able to dispose of| A new type of lighting on the| Cooler Weather Stronger Demand in East rr Jf

want backyards, garages close to his old house sooner to raise the street floor ceiling, an egg-crate the house and the privilege of down payment. {louvre, will have a soothing com- rs : ge © Dima of. Bourtsoent ands in Boost Level of Wholesale, Retail Beef, Pork | RCA is letting no one steal a march on television candescent lighting. ’ By MARION CRANEY TV Co or color. While the FCC has vet to approve its use,| Luxurious pin grain oak’ will RCA has long been incubating a color technique in its eastern lab- dominate the interior trim.

On the opening day in addition pose a few cents a pound in Indianapolis stores last week. Last week RCA served notice on the trade that it is ready when to the official family of the store, | ;

and if the FCC gives the go-ahead signal (wich insiders say may be Jon Fwihings, Natny Henne | yards, cooler weather and stronger demand, especially in the East soon). ’ '

white or color) transmitter in the top flight Indianapolis Indians PoOSted wholesale and retail beef and pork prices. The new system requires no same receiving set.

v Entering their fourth week of ~— will be in the store from 11:30 ghanges in transmission stand-|' But at the RCA plant in Indi- a. m. to 1 p. m. full production, packers are rush- 10 per cent ards of present black and white

‘counters. per cent,

{ Meat prices, which federal observers recently forecast will slip Made a good showing. {to government-support levels by January, did an “about face” and

Despite higher receipts-every week in the Indianapolis Stock- To Cripple M ssillon

and hamburger workers will be out of jobs when {ing to fill orders at thinned meat Prices have been chopped off 12 the Republic ‘Steel Corp. shuts

1 —Pork loin prices rose 3 or 4 here tomorrow.

(gains. Car load! were up on|from completed. depression. s {the wotl tt te Yen ob And our heavy goods Indus- he Washington Ward's, announcing that auto-| tries, which have been exporting conference is directed to Britain's mobile production had fallen] to South America and western |immediate dollar deficit, it must bs 7000 units from the previous| Europe, have become dependent also find a m solution to week ascribed this loss to can- on = tor this country’s ) imbalance cellation- of Saturday work "be-| foreign business. Any serious 'in trade: Too few imports.

cause of the Day holiday. Several individual sutomobile {companies reported record output of cars during A t. Retall trade gained over the (previous week but was under a iyear ago. Wholesale trade also

How fo Operate the New Parking Meters

Republic Steel Shutdown

| MASSILLON, O., Sept. 3 (UP) |—Almost one-fourth of this city's

down its alloy steel division plant

anapolds the announcement has| television. Yet its’ performance is

tion lines which already are hum-

“Rattle Count

Stimulated Trade

| made no change in its TV producreported equal to the present ming to eatch up with the healthy |

Pre-Labor Day -bBuying stimu-

cents to prices between 55. and Republic’ ghnouncea ths shut!

. ter or converter.

black and white service. { tug. of fall business.. RCA calls it an all-electronic' The plant is making another|

{ effort too, which keeps the rack | system, with high definition, Oper=| ,, 4, ‘time clock full. It is the ating within a six megacycle production of a $12.95 player at-| ghannel. ’ tachment for the 45 rpm records | It operates without an adap-'over which the platter industry The receiver is warring. shifts from black and. white. to

Three production lines are turn-

DETROIT, Sept. 3 (UP) ~-An engineering study announced today by General Motors Corp. put car noises into seven classifications: Squeak, rattle, thump, grind, knock, scrape and hiss,

lated meat trade, but not enough | to make any big difference. A| wholesalers’ trade magazine re|ported- prices were noticeably lower than those of a year ago. Chuck roast prices dropped” 25

per cent, bacon 16 per cent, hams

« m2 EE color transmission. without' dis- ing out the at-cost players weve idiana Employers Warned

turbing the viewers. Which adds the slow-playing platter business up. to a two way (black-and something to whirl on. ATL al’ Ford lias~a new gadget which should please car, Whistler owners. It is a gas tank whishe A a al the tank is full. This means no overflows, splllin | eid Ts of the fender, softening the finish and making the]

4 y {fresh car wasn wince. . . arr ka Reating, general manager of GM's Chevrolet’ Motor

Division, reports that his ‘plants an essay blank. and it you are turned out 163.348 passenger cars good enough you may be awarded end trucks . .- Pac . “| 2 new Ford car or a part of some what in the price range, stepped $70,000 worth of U. 8. bonds and up to 15, n Sty. . other prizes, Oldsmobile just turhed ut ew or a new compact, refriger200,000th car ... An ator on the market which may

Indiana employers who plan to hire minors on a part-time basis after school ppens were warned

On Hiring School-Age Help

in covered establishments in man{unfacturing, mining or processin occupations. ~ 4 He urged all Indiana employers |

60 cents .a pound (wholesale). down yesterday, giving lack of Beef prices are expected to rise orders as the reason. In this eity| slightly this week. ] {of 35,000 population, 1700 work Hog prices in the Indianapolis at the Republic plant. Btockyards remained unchanged, The shutdown will cut Repubas receipts rose from -42892 two lic's payroll here in half," with weeks ago to 51,300 (estimated) only the stainless division relast week, ’ maining in production. |

~ ” - — we ve ww w” | Fo

THE LIFE INSURANCE COMPANY OF VIRGINIA i)

onnounces the appointment of

Astime.is:usediup,.a red dial covers the white={leavesre- Ju mainingdimewhite.

'glonal director of the U. 8. De- Kirshbaum Center Sets

Buick Specials are flowing steadfly down the assembly line. B. F. Goodrich Co. estimates

g0 well in offices or living rooms. It is finished to conform with parlor finishes and looks like a|

yesterday against violation of the: 15 have on file age certificates for | federal laws governing the em- gz) employees under 18-years and ployment of minors in the produc-| for those claiming to be 18 or 19 ing of “goods for interstate ship- who are employed th hazardous ment. occupations. " Thomas O'Malley, Chicago, re-'

partment - of Labor's wage and . hour and public contracts divi- Adult Schedule Here sions, pointed out that the mini- New adult activities for the mum age for general employment coming season in Kirshbaum Cen-

'CHAUNCEY H. ENO, II

GENERAL BROKER i

with headquarters at

’ that 10 miliion cars in the 30

1502 MERCHANT

small radio. But inside there are|is 16 years, [ter, 2314 N. Meridian . St, were

millions cars on the road over

; ed today by: Mrs: .Leo rae eo ‘hnical de- Small shelves, and a cube maker.| , Youngsters 14 and 15 years cld 2nnouncec day by: Mp wi ey n Ge al Tire is| Bakelite is. making a new tie/may be employed -only outside Kamion, ehairman-ot ti aquh INDIANAPOLIS 3 N STIS CLEARLY fects ... . And Genera . division. , A DLO LE, RL appealing to truck drivers to rack with 27 arms, The boast 1s school hours and then only sub-/ cl a” b Lo Telephone Market 4454 BACK : in the that the material will not snag ject to stringent regulations to| Classes will be conducted in ,

watch out for children streets When school opens. neckwear, |protect their health, safety and| dancing, Yiddish, music appre-

The safety-minded Ford Motor!” Zenith has a new TV picture educational opportunity. | Slaton. ATR. ets, Adults Qeaieing A reaieny Co. has just launched a $100,000 tube which increases picture clarl-| youngsters 14 and 15 years old, y y are re-| It calls for taking your car in the “Glar-ban black tube.” The work on school days and eight 4 0 F I Th - [school weeks, and 40 hours in| ITN dl "oliow- roug be as lively in October and Novem-| Generally, Mr. O'Malley said, Department, een 7 a. m. and 7 p.m. They | i to unusually hot weather, But in ~

safety contest lasting two months. ty in lighted rooms. It is called ye gaid, are limited to three hours’| quested to consult Mrs, Kammon, (any make) toa Ford dealer for claim is that it improves visibility |y ore on mnonschool days and al . (PLR a safety check-up. You then get|€0 per cent, maximum of 18 hours during the BEN HINSHAW The real question is: Will business weeks. | ow " RK ber as. it is today? Is the current improvement more than sea-| - \ . gonat?e Debits—stitl appear onthe business ledger. the low-age pupils are employed J ELECTRIFIED store sales in thé first two weeks of August ran about 14 per cent| uo ad under a year ago. -Part of this is due to lower prices. Part is due the week ended Aug. 20, the de- How -businessmen, themselves, cline was only 7 per cent. House- think and act in 1950 is likely to

direct, or throug

Try

wives were willing to shop when be decisive, Repair and rehabili- Make your Siiehen Accident, Health the heat and the humidity let up. tation needs of industry have, by ' and bathroom more . Retail sales, as a whole, are no means, jbeen completed... But § sanitary, beautiful,

easily cleaned with L Armstrong's VEOS A Wall Tile. Phone for estimate,

doing as well as last year, but. corporate profits are down 'no‘that is largely because declines ticeably, Hence executives are

ifr refrigerators,- washing ma- (apt to be conservative. They don't A

nok Inquiries invited

regarding

LIFE INSURANCE AND ANNUITIES { GROUP INSURANCE ) If you donot; the meter signa

li including

f PENSION PLANS

S BANK BUILDING

PARKING TIME ALLOWED

view ohmeter | SHOWN ON EACH METER.

h | = Our city’s parking meters are being installed to benefis your own agent, - # the whole community by improving traffic conditions. The police department requests that you help by care. fully following the instructions: given here.

When parking, the important sure that your right front wheel i pried to the meter.

thing to remember is that you is must turn the handle yourself | v set the meter in operation,| _ It is ‘unlawful for any person “to deface, tamper with, damage, open or wilfully break, destroy, or impair the usefulness of any Pn |p, pt Bualed sn, Police officers will not be streets.” This law c a tag | under any circumstances, except for instruction of motorists or any of their children who are

£ will stay at “Violation,” and the - patrolman will have to give you

and. Hospitalization

enforcement is first started. minors. 5. After you ingert coin, be sure| The atking meters are bei »RHC to wind ‘the handle in direction | installed to more i

chines, clothing and miscella- iike to spend until they know

. NC neous items have been offset by where the money's coming from... 0% JSPELIANCTS

of arrows until correct parking space ‘available for Shopgiers and.

<n

the continued heavy deniand Raflroads, for Instance, won't’ SE “Gamers | Ml The Indianapolis District Office of The Life Insurance || ig Mwy on dial, ox Ye people making ep eliminate for autos. - Once consumers make large capital commitments ~ RUB LOORS | Company of Virginia, Poul R. Cannaley, Manager, tim Ph. Joe : double parking, whie vi n bave purchased autos — and until they find out just how the TILE AND 3 ar ; : ahs 2 drops in a few minutes, so-it is | the traffic on bu y Strseta. and id for them — they'll have 40-hour work . week for non-|} RAUP CABINET CO. -is-located-at 7045-6 Merchants Bank Building. | impossible to reset your time | creases acci ; unds available for other.items, (operating employees will ‘affect | 14 N. PENN, 2408 en : ) ; : : i o "2 ime ¢ Co but might not spend them. {their payroll. pa | - : a » desis 24 2° Mes <3 -you park your ear, be'sel aad ou entire commu h ’t : : J : : : r ; ; Pe J 5 ~ : i E 8 5 ; ih ; g - “ ley 5 + x a . . s = - eit & oe , y 217 = Bs com aA Sr rd fa