Indianapolis Times, Indianapolis, Marion County, 2 October 1949 — Page 17

5 : Pate : ii

, 1049 Soma, OCT. 2, 1949 : : . he Week in Business— -1Bi 's Bid for thei Edn Big Steel's Bid for 2} Pension Tiff May Open 7 New Era in Industry

THE INDIANAPOLIS TiMBS | PAGE 17% Prefab Dollar Stocks Increase Outlook in England— .

Y #2

y S Si Sik Wil he Felt Sooner, but Exiiemely Coufious London, and Most of World, ~~ | alkout Li United Press Financial Editor : in R 296] Walkout Likely 10 Last Longer a. T-gua Toke Cue From dinited Sates a

INDUSTRY was asking yesterda } y—with steel and coal both strike-knotted—whether the post-war showdown had

arrived. Many felt that these were not ordinary strikes,

the past week in the face of un, LONDON, Oct. 1—You can travel around the United certain labor situations and some States and see the grandeur of the wheat and corn fields adverse dividend actions. in the Middle West, the beauty and resources of cotton:

but coud! well inni : When | | : : 5 , We be the beginning of a new “welfare era” in ment a tha tobacco in the South, the endless cattle grazing on western, . tty: ha steel industry the market rose ranges, the eye-straining sky-| Trobe. 20 throb Enziand Barere | ; , las ay, John L. Lewis, whom Congress smacked sharply. It fell on snags in thelscrapers ih New York, theland, except for Russia, the worlds with the Taft-Hartley AW | meshes aes. et {eso ations, an nally began ** wrawn of steel furnaces in Yes, and even Russia is responhedged his Position. He de.io Sng uit it hurts, then mak- iguore strike Bews AOpe s : sive. To the beat of America, rn te B ge de- ing His bargain, | There is no particular pressure Pittsburgh, Chicago, Birming- nounter-vibratek x i per political pres-! e steel strike may have a on any section although a few, : : | x i re : . sure by ordering PS 000 Pres more immediate effect. | |special issues were sold for vari. Dam, the bursting enthusiasm Although London has lost its. The whole fabrication of Amer-| lous reasons. Traders turned ex- of the West Coast, and the/rank to Washington and New

t ; Doni < : : |York as the seat of world polities |tremely cautious in the last full variety of industrial richesana finance, it has not lost td.

session. s everywhere — copper, coal, fine sense of the inner importance

“The market operated for the {of economic events. At no time™

” BB ii e By f short Saturday session today|vegetables, textiles, citru 8 after the devaluation of the ; ; 3 steer 4 Sve day week dating back fruits, giant . turbines, rail-/pound, was the City of London - SR ed Ye road mileage, mammoth is gearing up to turn out a pre-

ww y back to work to surface joan business depends on the| enough coal to keep the public steady flow of raw steel. Most wérm. This left the pinch on businesses won't last long with-| industry which at the moment ut it.

i | But how long will the steel reports having from 90 to 100 workers last? Wives will com-!

days’ supply. . {plain when grocers shut off credit

) ; Sl : Goa {the financial district—bedazsled. Both strikes are serious, but aad the backfire of hunger, on| Down at New Albany, the Gunnison, Inc., plant of U. S. Steel a ao aircratts| trucks along mammoth high-j, 2 tinessmen and, fuianclers i the coal tieup is likely to last fen a fab home every 20 minutes. The claim is that outside big-city labor areas it can be bought, with strong on anticipation of heavieriggue and inevitably Detroit |tion and the high principles set | longer. Old John believes inward a ay | lot, for $6300. |geders ROW that Ruifia Nas Bees But it isn’t unt p forth in the U. BBrian-car | 3 |able to set off an atomic explo-| sn’t until you're in Eng 'nadian communique did not Pros... {sion. On Tuesday, with a turniland that you can take in, in all ii4e Great Britain with the cae

IIa : | in Receipts Fi Livestock Pri te oa Pot Shots? Ir Int some 5700 ae amnion bese Ci jn Receipts Firms Livestock Prices oe vont i iubor segota” a runes, th power ot Ameren. ici to maimain, a cuss

And there are some 8000 coal miners in the st trike with a tion, prices dropped rather sharp-| cation | few non-union mines opening at the na ie Ee hig By MARION CRANEY _ |a slight rise. Heavier weights also] Vealer prices rose $1 to $2.50. ly, but rallied from the lows. rei: 1 _Lovdon, You Juiesly Standare ot Irving. The ue in i ers from ambush, A sharp cut in receipts in the dropped slightly. The late top bringing $31 to $32. Native spring When U. 8. Steel offered a 10- yra¢h-taking — that as America ‘America? ppe ei > Business: and industry had just lifted its head out of th \Indianapolis Stockyards last week Price was $19.65, after $20.25 was lamb prices rose 75¢ to $1 ascent pension and security pack- 8 : 3; } » § ! s head out of tI ie steadied falling meat prices. paid Wednesday and $20 other fed yearlings dropped 50c. age to be supplemented by em- To the London Finan

, EN t | . se hos | tactics. And there could well be|' Farmers, cautious after a drop days. Othee weekly Sslimales of re- ployee contributions on Wednes- Fear of Labor Disputes cial Times, the upturn And our guess is that the coal |2NOther law. aimed even more of 35 per hundredweight last| Sows 400 pounds down brought cP bor Ir re previous gay, the market moved up in the U. S. is of universal importance: “A recovery from the U. & strike may outlast the steel shut. directly at Mr, Lewis to prevent TOC in hog prices, held back quotations -steady to mostly 25¢) Cattle HEN and 6571: calves isharply. trade recession of the last seven or eight months could probably down. The reason: There's more MS choking production. on delivery of hogs and other higher. Weights 400 pounds Tose| ot". "onze “ong sheep, 5175), OF Thursday, prices continued give more immediate relief from our dollar difficulties than any of | What businessmen see, if Mr, (Stock last week. Hog receipts 50c to 75c. ’ P, 91i5 their upturn. On Friday trading the decisions taken in Washington.” .

88 i | i ! . pressure for Steel right now thani, ie continues, is a public move dropped from 53,551 the previous| Lighter receipts boosted prices 2nd 6425. lin all but utilities dried up and, Obviously, if the business im-

GE

*

for the government to take the|“eek to 43,525 last week. lon all other livestock. Prices on prices moved in a narrowly ir-| provement extends into the fall | Sales are running only about & TE loners hi Rng mines permanently, The word for| Mrs. Housewife can expect medium to choice fed steers ana BUreau Sells Out regular area. | and winter, American manufac- | per cent behind suggests that pep : : 000 this is socialization. Long-range Steady meat prices this week, al-/heifers rose $1. Cow prices rose Raiph E. Hostetler, owner-| Allied Chemical and Santa Fe| turers and retailers will be more | they're not over-inventoried snd--miners aré big enough to run the though i ; country’s business? They thi ic thinking on the part of some prices on a few items may 50c to $1 and bulls as much as Manager of the Anderson Credit/were whirled up on splitup ru-| receptive to Britains offerings will be willing to import. i} Sond hey nes ey thin businessmen is that the mines grob one or two pennies. Demand 50c. Week's bulk of good fed Bureau, today announced the sale mors. In the case of the latter,| of raw materials and semi-fin- Indeed, as reported last weelt, : 7X y nking some-| "oll be the first to.come CONtiDUes strong on-all meats in steers in all weights brought $28 of the credit bureau to John W.|part of the rise was erased when | ished and finished manufac- ° oll thing else, eve r i 1 . i the first rush of orders for se h s n more Serious. |; 4er the socialization mantle. ususually-ccol early fall weather. to $29.95. A few best year light Nottingham, manager for the last nothing more than the usual $2, tures. That would aid dollar re- | woolens, doeskin gloves and. If. Mr. Lewis should continue| The steel strike, if it cOn-| megs eavier Weights Oft reached $30. Choice 1225-1360- four years of the Credit Bureau extra dividend was forthcoming.| ceipts. fine cotton cloth suggests as a to harass business by handingitinues long, will be rough. Both|goig 3% lo 230 pound butchers/pound steers reached $31 as odd of Indianapolis, a division of the Chemicals generally managed to| The fact that department | much. What London fears | out coal at will, the country might the steel executives and the union|jower as 8 say to 25c head choice 4-H Club yearlings Indianapolis Merchants Associa- retain small gains along with| store inventories are a full 10 | most is an outbreak ‘of laber i i HoAHES OF 3, than today, And leaders are two-fisted bargain- er weights showed brought $32 to $33. | tion. i ‘Allied. ; per cent below a year ago while | disputes in the U. 8. a] ns as whole get ers, and unless the government Bas fed np, look for action—in Con-| dio Ph ; succeeds in bringing them to- | J 8 i gress, . : | gethet before their mutual re- 3} : The Taft-Hartley law was sistance jells, and they become i hwy, spawned by public disgust, and entrenched in their hatreds, it| some fear of nation-wide strike could stretch too far. . Among the first to feel the steel ii — Detroit Watches squeeze outside the immediate indus-| # i QUNYON try is the auto trade, still humming in Detroit, South Bend and out-| " “ " CCCCEKC ‘ ; ER posts of the motor empires. 7 3 D 2) ) OOS NM i SION AER RRS (CCC ’ Ro HEATER ] The best guess in the Indianapolis area is that steel users can 4 4 g 4 4 tie 7% A hy 0) BON f ————— last from 10 to 30 days without much embarrassment. This is not| i CHELL true of the motor industry where —— ~~ ==" re Bis Stes) Wik neatories ‘are held to a mini.jthe report wag made Big Feel onmmnnsets 1g Stood pat, and is still standing. mum. The reason is that steel is", a | : he top issue is not wages but| OF A used in such vast quantities that| the interest on the money tied up| Pension. Steelmen, however, point IFETIME runs into big figures. {out that pensions shifted from

worker-to industry would amount! to almost an 8-cent-an-hour raise| in most of the big producing

The steel strike effects willl spread quickly, radiating chiefly, from Detroit. When and if the] auto industry goes down, thou- Companies. sands more will be thrown out of, Tradesmen, grocers, department, work in the network of supply stores, taverns and their suppliers plants scattered through Indiana. [Will begin to lay off clerks and Big Steel, as usual, is runningjother helpers, Truck lines will cut the show, and Big Steel before their runs. And railroads will lay g / ; agreeing to the President's fact-| off crews due to the lack of heavy ) BN : ee finding board made it plain that freight. : 7 it would in no way be affected by| Steel is big, and steel is tough, the findings of the board. When and so are the men who make it

L hh In Indiana last week labor had its eye on steel. If steel | apor unions make the grade for pensions, insurance, health] and welfare benefits, pressure will be released through industrial| communities peppered over the Hoosier state. | Some industries were looking closely at pension demands. Pri vately they thought present objectives could be passed on in produ} price. What they feared was the oF . prices get it. Workers have upward course of the future. |y4110 Jett in the end. J International Harvester COrD.| guid one CIO state leader: “Too announced on Friday it was will- many of the companies are kicking to pay the 10 cents an houri;,o out our boys when they get

if the unions could show that it's “po gx and we cannot see where Is Week Only would create an adequate DPen-iiyey gare much more efficient the :

pion-health, welfare insurance. day before they are 85 than the , What industry fears is that cur-/day after. yi ROSES TO THE LADIES rent pepfion demands are but &| “They are not able to lay anyfoot ji the door, and that realithing aside. They are good cit : n pressure will come later on to 3lizens and most of them try to potht where industry or product/feed, house and educate their buyers cannot bear the load. families. When that is done, even

Q nn wf Wh -— Oo > | ~~ > © < r~wi wh

HERE'S HOW IT WORKS!

me $ Example: You purchase an item

) B\ ny for $100.00 and receive $30.00

Unfors learned in the first/with sctimping, here's mong commission in other merchandise ¥ t-war wage rounds that|left to take care o e old man ; hii in in the oh envelope is|when industry says he’s too old of your choosing. Just think, @ “ a fool's paradise. Taxes and nigh-ito work.” savings of 30%. 2 ne

Along the Indianapolis laundry and dry cleaning Trouble? front there was trouble. The little neighborhood dry cleaners were wiggling under the reported insistence from AFL

organizers that they “join up.” Five or six have refused. They reported that organizers told

YES! YOU GET THE COMMISSION!

Isn——— mses —— stm SE —— This is our 10th anniversary. We're going all out to bring savings to you. Stop in, choose an item,

valug of she them: “We've got $60,000 to $70,000 to lick you. ¥ oy beter utp and use our friendly credit terms, a small down paytow priced line.’y take care of their dry cleaning at, ment and take the purchase home. This sale applies N One Jitle dry sleghet Teperted so per Seat ou Na) ¢ of to everything in the store except a few appliances ow , when he refused to! The ittle dry cleaners, som f S cey \ — and save Fhasy Dat strangers” in a red them veterans, were up in arms on Mich our Jranehise prohibits a discount. All f your cloth. sigh, owed his deliver i(and had them under their coun- items subject to prior sale. of New Home Chrysler Tks the ee ere). “We don’t want pe $ ory out ‘of truck. He followe -"ithey said. “But we're ready for CHROME DINETTE SETS

Nothing happened. {36 ; ; 1g becomes ists its organizers ' ' . told him they| The AFL insists its org Lifeti rofitable But he said they . . threats. ‘We've A F E | etime porcelain topped table which can » have mals: yo jents f ere re a ew xamp es! be used as work table as well as for din-

the new were taking down the addresses, misquoted,” said one. “O 2 oo del of his customers and soon would course we want them to join, but Alexander Smith all-wool 9x12 rugs in Sale Your EY htonse legs and $ paren utility [7 NOY eircularize them with offers toithere'll be no rough stuff.” beautiful patterns and colors . .. Years of Price © Commissi re I vd i ay 4 Bho” Ir®the cutback in defense costs the beau and wear for this special sale price ey 95 u erette seats and back Pi oy Yoursalt a : § Of sesencscnecnassnrnesensasnesssassscns i isi —hivan ik ; ; Tes rEsNTEee Ordnance Layoff Naval Ordnance Plant, 21st and Nationally Known Television Sets % % S | 499 Commission

Arlington Ave., will lose 225 civilian workers. The layoff is charge- : LIST 2 Lifetime Cedar Chests .... ...icoosenens 3495 10.49 $ Le) 5 able to Defense Secy. Louis Johnson. The employees won't be picked $ Q 5 3 LL: 5 . 49 . up anywhere else in the seryice. They are out . .. Period. : . Bi Lib 7 Drawer Maple or Wolnut Desks ......... 3495 10.49 : 3 Le KINGAN'S will open a branch plant in Seattle, Wash., T. G. § Imem— 4 Innerspring Mattresses, Twin or Full... 19.95 5.99 Other Dinettes Up to $139.95 mi Sinclair, secretary-treasurer, an- : i ¢ i pounced yesterday. It. wil expanded refinery at Robinson, Large Selection of Alexander Smith IS PLL Beautiful 6-Way Floor Lamp, Fluted Shades 17.95 5.39 I. The Iigbon-cytiing on the Throw Rugs From $7.95 Occasional Chairs, Wide Selection ....... 16.95 5.09

Eijans Fi La, a its multi-million-dollar plant will be Be riggtTionded DY top-oficers and the Rollaway Beds, Full Size, Innersp’g Mattress 49.95 14.99 Maple Bunk Beds, Full Twin Size ........... 49.95 14.99

. Kingan's has elevated George poard who will inspect the big J. Brown from assistant adver- “cat cracker,” short for catalytic

LY ER Fis em pgp ERM WAR AOR reson

tising manager to ad manager SEacAen It Hs i have 3 B00) Whiteney Baby Beds ...... avant 1.49 £ - a - da) o-stage crude : ; Ee - hen aio. Browns distillation unit, a gas-recovery, Whitney Baby Carriages ................. 3595 10.79 - . lant, a gas treating plant, and Eureka Vacuum Cleaner, New ......... .. 3995 1199

ad background was with Colgate-\o, employees ser Palmolive-Peet and Pepsodent. The ae Yee d 3 > OHIO OIL CO. tomorrow will jt production to Speedway. i formally open its modernized and] OF - INTEREST - BUT = NOT-| X {IMPORTANT: Next year's Who's %, ; Fogelberg Named {Who will be printed on an,off-] 2

white paper. Easier on the eyes,

> SEWING MACHINES Me " Beautiful Styled ginger, Jhite, Pemestle and other nationally Te, machines. kobe Sins 349% | "qaee | 4-Pe. Mahogany

er ANE ow) To Research Post [say the pudiishers. | a Si na conse.” BEDROOM SUITE A 4 { Aran . Weymouth Fogelberg, former | = | L | \ ! X f B 0 1] “ S U i 1 Ek S Beautiful toasted mahogany 4 director of admissions of Arthur FEN i : I gl rs & $1 3 4 90 ; : : . ;

(Mr. an i Jordan Conservatory, has been JR lass mirror and full size or © appointed field representative for, fs j grction. ofan bedroom suite “we Management Research A ates. §) and its placement affiliate, Certi- § fied Personnel Service. ; . A veteran of 313 years’ service J in the Army, he recently was as-|

ave ever seen. Other bedroom suites in mahogany, > $ walnut and maple, modern a 2, : waterfall designs, from $120.95.

Large two-piece living room suites... U. 8. government standard mohair cover . . .» hardwood construction . . heavy steel coil springs in cushions, seat and back.

| $1690,

HOUSE BRTANS. AND Tuky meihehiomms Tear Saas Seven HULYISRARE SLATE ANS TY =e.

SV REVS

2129 PROSPECT ST. —— = MA

Other two-piece living room suites, sofa beds and 3-piece sections available from $99.50.