Indianapolis Times, Indianapolis, Marion County, 19 February 1950 — Page 40

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PAGE 40

Outlook in the Nation— Lewis Playing for B Stakes in Stay-Away

Willing to.Chance Union's oY “As Well as Profits of All Industry

Final Chapter Big Looms for Lustron Corp.

Factory-Made Steel -

; By J. A. LIVINGSTON AGAIN JOHN L. LEWIS has proved himself the con- |

summate gambler. ‘Not only has he been willing to gamble! = (Continued From Page 39)

{with foreclosure plans, ‘general, but he has shown his willingness to gamble away

“the treasury of his-own United -Mirfe-Workers-union,——{tron—is—simple. — When the coal miners stayed out of the pits, in the face] Ian began in Intlana,

: ge Keech's, {g of Federal Judge they retuscd to ade. the met. Srandiopd, % back-to-work order, they laid finders .could announce their i Se RE iS Mr. Lewis and the union open obduracy publicly, That would: p to another huge contempt fine JUL tne coal owners in a -bad a fact Lewis well knew. But g

also knew that President Tans] Mr. Lewis Incidentally, | and Attorney General McG rath! proved what he had denied.

of Chicago then.

my hand, How much-am-L-hid 2?"

Mr. Lewis accused Mr. Love | of teHing “a dirty, deliberate, [$25

Congress of Tndustrial Organiza-| tions, though no friends of Mr, Lewis, would rue the precedent.

piit Mr. [eWis under _pressire to saying he had no choice but to gettle the dispute, Mr. Truman put order them to go back to work. “the coal owners under pressure S8omewhere along the' line some by asking the coal fact-finders to body must have given the “wink, ! sit in on wage negotiations, If the the nod, and the code” that Judge coal owners stuck fo their pre- Goldsborough warned Mr. lewis -pared bargaining positions, if against in fining him in 1948. Meanwhile, the first annual

Two Down, One Up Feports for 1049 are going into the mail. By and large earnings are encouraging compared to most years. But they're down relative to such fine years as '48 or '47.|

mercial enterprises,

But, why not use the

The GI's were marching home, Wilson Wyatt, then

shortage,

12.5 per.cent for the 70 companies Building Mad.

*Excludes Big 3 Steel Cos. { Losses Are Heavy n a.~Not available. | Then came trouble. The drop in earnings, as this talked big production.

{column has mentioned before, has it,

reflection of the on-and-off pro-| duction throughout the second | half of the year. Excluding General Motors, and the “big three” steel companies, | not reduced dividend payments, industrial corporations showed a Total dividends for 1049 are estiQeeiine of 153 Jer cent. ii mated at $8.4 billion as against Man e big three of.steel, an a gain of 3.5 per cent is shown. $7.9 billion in 1048, yet net in-| The following table shows the per-| come of all corporations is esticentage change industry-by-indus- mated to he down from $21.2 biltry in net income from 1048; also/lion to $17 billion. Nearly half of the number of companies which 1949 earnings was paid out to have so far reported increases or shareholders, as against only 37 decreases: per cent in both 1048 and 1947.

See for Yoursel at the cash holdings of corporations in the annual reports Chances priced at $6900. are cash will be up over last year—as in the case of the Koppers Co, | Bul RIC count. wait. “International Shoe, Goodyear Tire & Rubber, Continental Motors. | | Lustron?

At the same time, look at the amount of money thed up in inven-| tories. Chances are that's down.|— : Prices of things corporations buy Fast Prebuilt Stack are generally lower, Also they're carrying less stuff on hand. | |

Distribution was bad. sold franchises where it Tom Joyce, “7-Up” Indianapolis, erected 32 company records disclosed, Indiana, only 142 weft up year, Total hustron sales: The metal

few sold hit $10,000 and up.

es Souths reported rebuffed once before,

suppliers are than in any year since 1941, “ No... with less money tied up -in inventories and with no prospect of rapid expansion of inventories in the future, com- Stet etemit—— panies can be freer in their dis- : bursements to shareholders. ‘No, No, Nanette That's particularly true in the | WASHINGTON, Feb. 18 case of companies which have completed post-war plant expansion programs anf? don’ t have to worry about raising additional funds.

{Builders Show. The steel tube bany, Ind. Super - | construction in actual house con-! Strandlund would win out. struction requires only two or, Columbus citizens were {three hours. | talk,

talk, talk. from

(UP) tion of High and Broad Sts.

[today ordered Nix Cosmetics Co. ,| Interested. |of Memphis, Tenn. to stop ad-| |vertising its Nanette Hormone story of the day:

Cream as a bust developer,

comes MA AIA En PATE A

1 i = = fe = | | I i = = f— = 1 i

cece fen mnt a PEA Se 84k mE AE RRNA a OE 1 TAB A YB UAL RPh A PIN Sat WERE AE RR TT WANE

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Made Indianapolis by Indianapolis Folks: ORMAN 0. McKINLEY COMPANY

Sold by the Exclusive Distributors for Central Indiana:

S0-LAR SALES, INC,

3 . 4726 N. Keystone Ave, Hu mboldt 1362 fas? g SEvelingy, Sundays, Cf erry ao)

-* 3 § ’

—| House Was Success in * Everything but Sales

away the profits of the coal industry’ and all industry inthe bills, moved in late nd The story of RFC ald to Lus-| {

G.| Lustron's $50,000-a-| had an idea for a

He was a $100,000. yice seat] ‘dent of the Vitreous Enamel Co.

His firm had just been cited by ‘the Armed Forces for evolving a) -

would hesitate the “break” a George Love, president of |nrocess in making armored steel union financially. It's too - risky, Pittsburgh - Consolidation - Coal | for tanks. politicaily. : Co., told the Fact-Finding | Why not bake porcelain onto Willlam Green. head. of the Board that Mr. Lewis had sald gteel for attractive commercial American Federation. of Labor,| 10 him: “You have the mines; building exteriors? and Philip Murray, head of the I hold the men In the palm of Sold to Standard Oil

He sold the idea to Standard’ Oil of Indiana with a promise of y-miHon-tn-econtraects annually:

not understand the use of scarce steel building materials for com-

game idea for housing needed greatly? !

National! Housing Agency head, was con-. vinced a mass-produced steel prefab home could lick the housing

A sample model was erected at

A month ago, Lustron complet. If you want to see for yourself the ®d $13,000 worth of re-tooling to pa way of this sudden generosity, look Produce six new model homes

ada- The Hoosler real

"They watched on the sidelines. Even a newsie at the intersec- shirt-sleeve cuff, Explained Earl: and foreign taxes. “The Federal Trade Commission downtown Columbus seemed dis-|

He shouted the biggest housing

“Lustron honeymoon over ,

— THE INDIANAPOLIS TIMES [Two Railroad Employees Purchase Homes Here

- |. |

LIAR ITY

Two railroad employees bought an interest in Indianapolis last week. Mr. and Mrs. Howard. Over-

Real Estate—

80, President Truman promptly Infamous lie.” However, Washington blocked moved to get out from under his But somehow the miners didn’t the project. High brass feared Steel Pre-Fah ~ own legal power. The Injunction respond to Mr. Lewis’ telegram the “grass roots’ elements would |

Is Ancient Dream

Private Industry | Still Has Hope = |

(Continued From Page 39) tive peazon Columbus builders had topped the 3000-home mark. This year Buckeye hammers are pound-

The railroads had another unsatisfactory year. Net Income is esti- Hillsdale, Ill, in 1946, Engineers ing out 4000 mated down 38 per cent from '48, (called it “amazing.” But Buckeye builders’ chests The public utilities managed to| Per Cont No.of Companion | Backed by Congress swelled—when they pointed out do quite well, Net income was up| Khange Reporting |. Congress backed up the pro-the newly unwrapped Town & “ Ko Ther Deer. | ject with $15 million through RFC Country drive-in shopping center. in my compilation, ment ant 3 i and Lustron moved to Columbus. The $3 million diversified de- | Among the industrials, for each ieeiien dt ied : i For $425,000 a year, the firm partment store is the suburban company reporting a gain in nn — 1 » rented the sprawling war-time shoppers’ dream. Located on the profits, two reported a decline. (Genet Motors Aid | .- 'home of Curtiss - Wright, - big road to Port Columbus, Town & And seven companies reported an vy oi sg Rieel —25.6 "a 1 enough to. house 22 football fields. Country has more than 150,000 actual loss as against only one Bie 3 Ble Con. +148 3 3 “Columbus will become the De- gquare feet of merchandising in '48, | Machinery ree w—l 3 troit of the housing industry” floor space housing such firms as - Cement companies, as a group |p rh Sa =) i © 39 |promised portly Mr. Strandlund. Penney's, Kresge's, Schiff Shoes, showed the largest gain, 20 per| A Aoaral 1 s 1. He put up only $1000 to start the Kroger's and the U. 8. Post office. cent, a commentary on the nigh Jax Mardware —ihd 1 5 project. There are parking accommoda- | level . of highway construction Miteslisnseus * = I 3 nm Later, RFC increased Lustron tions for 1500 cars on 10 acres of during 1949. Biggest drop was in| tai Con, +80 Mma subsidies to $37.5 million, Mr. improved driveways around the textiles, 73.5 per cent. Lead and Tjish=16t Indus Strandlund acquired $840,000 center. zinc companies, suffering from Suing Biss ia Hts from private sources but re- There's a 1500-foot marquee] lower prices, showed a drop of| adie. 4 (est) —## ms ‘mas [mained as majority stock-holder. the world’s largest, sheltering 53 per cent. Next came coal-—a Utilities +1 ” . customers %indow-shopping. The

Lustron center plans to add na million They hit Wing. but lost between “$500,000 to . $1.1 million making the houses, Lustron|

could. bottier of doubles as an officer in the Air

Radio Hero |

A LOCAL RFALTOR who!

Force reserve finally received his captain's bars last week. His “punnish” associates were also de-! lighted, : They'd heen telling Mead Knight of the ¥, M, Knight Realty ‘0. ha deserved to be a captain.| He has the name for it. Captain Mead Knight.

nomex, In last] 1970, pre-fab originally had an $8000 price tag. But the C

Short Takes - a

Mr. and Mrs. George 8. Stude-

{

What's going to happen to baker of Bouth Side realty fame

headed farther south last week.|

Rumors are thick. The govern- Destination: Ft. Lauderdale, ns ~ | ment would produce the pre-fabs Mr. and Mrs. William E. Nive for Army barracks. Republic Steel, are sunning up in the same wing that its 1949 net income dropped

a 1

ERR a

555 Young Ave.

man purchased a frame dwellfrom Mr. and Mrs. Thomas B. Pitt, while Mr. .and Mrs. Thomas E,

ing at 4555 Young Ave.

Garrity bought house at 351 8. Oakland Ave. from Mr. and Mrs. Orarge Melton:

a 13

story ployed by

35 years;

2351S. Oskisnd Ave.

Mr. Overman has been emthe Pennsylvania Railroad as an engineer for The —Baitimore

Railroad employs Mr, Both purchases were Charles

Ohio Garrity. handled by Realtor

& -Campbell

Antique Furniture Dealers Buy N. Delaware St. ‘House 25 Homes Sold

In Morgan County, | Here by Firm

| SALE OF 25 homes in Indian-

‘ |apolis and Morgan County last

‘month were reported last week by the Edsel Co. South Side {realty firm. : Selden 1. Stone, president of |the company, said four tranaactions included three sales in Waverly and one in Smith's Valley, communities in Morgan County. : Other properties sold in Jane uary were at 4010 Union St., 4643 Stratford St., 2882 Spruce St, 2432 S. Ritter Ave, 2131 N. Drexel {St., 337-8 Beaty Ave. 1342 E, Tabor St, 23 E. Raymond St. 11211 McDougall St. and 4002 E, [31st St. | 8-8 8 i HOUSES also were sold at 708 !Markwood Ave, 15 N. Arsenal | Ave, -1609 Bradbury Ave, 2509 |N. Denny St., 2149 Napoleon St., [736 E. Lawrence St, 855 E. St, {Clair St., 5528 Speedway Dr., 614 {| W: 31st St. and 3109 8. Rural St, Mr. Stone, a real estate broker for more than 20 years, has {headed his own firm since 1944, { 0. L. Guess is sales manager of the Edsel Co., 1136 E. Troy Ave,

‘Johnson & Johnson

Plan Research Center | NEW BRUNSWICK, N. J., Feb, {19 (UP)-—Johnson & Johnson, !manufacturers of surgical dressings, today announced plans ‘to {build a new research center here which will consolidate and expand jie present research activities, ‘Completion of the one-story, E-

Carlos Recker and Mina Markle, dealers in antique furniture and objets d'art, purchased this | shaped laboratory building and a from Fieber & Reilly. Salesman Wallace Whiffing handled the transaction two-story administration building

2!/5-story frame dueling

last week. Ruth G. Taylor, who moved to Charlotte, N. C., sold the house at 1451 N. Delaware St.

through an ad in The Times.

Flintkote Co. Earns $4.33 On Common

NEW YORK, Feb. 18

(UP)— The Flintkote Co. today reported

is. . . Bruce Savage doesn’t only to $5825579 or $4.33 a common

CHICAGO. Feb. 18 A new pre-| said to be willing to come in and sell. He's looking for a home, too. share from $7, That's because deliveries from bulit chimney was erected in 15 compete with U, 8. Steel's Gun-'. . . more dependable minutes at the American Home nison home produced at New Al- send a prepared speech to Roy F.| promoter Parsons,

Earl B. Teckemeyer had to.

foreman of the Ohio! brokerage conference last week. estate

thing in which to enclose his

in “That' s all I Speak from.” ”

All Grain Prices .Join in Upturn

CHICAGO, Feb. IR (UP) ~

the strongest but all grains were! faily well supported at higher | price#¥this week on the Board of Trade, 4. In four 4 “day Monday wheat gained two | cents-a bushel and soybeans went | up as much as four cents. The| nearby contracts adyanced the| most in each case. - A feature in wheat trading was ia shift-in strength from the near-|

and back again. March wheat! picked up three cents compared to| the closing price last week.

behind a cultivator.”

"ve ‘essit, plowing like this or

1831. STADIUM AVE,

Wheat and soybean futures were,

ssions after the hol] LA

Easy as Rollin’ Off a Log!

lecommon share in 1948,

748,683 or $5.86 a

Net sales last year totaled $67,-

815,156 against

$81,297,857 the

“evan- year before, The 1949 income was iment. They'd heard nothing but gelist” looked around for an old \computed after provision of $3 Lustron. laundry box. He wanted some-

590,469 for federal income, state

In 1948,

the

(income was exclusive of $5,006,069

for taxes.

The company reported $1,260. 435 shares of common stock out-

standing at Dec. 31,

1949, com-

(pared with 1,257,935 shares a

lyear ‘earlier,

lar coun

£ } 2 | ftindds

Snore ges a

of OY RENEE tS" AEA contracts |

ply doa't you got # Farmall Cab tcror wich fngerip Farmall Touch-Control,” TVA Yh fuk seach Your ismplammens, han — wich your finger ~tull ke what v0 do!”

say other small-farm

- the door, I mentioned to’him, “When your Farmall Cub ‘m meets pire or seeviow, P's sight bie.

| HONE NA. 8358

oliowvoys tuo ti uthee day, au sce oF aml Biri... tired of ruling sa old walking plow, «tired of eating dust

| ie: Jhiuias Tike WE oe 407 ouiot spl farm apmivion t 5 . | |

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(Continued

ing, dining an of the home. e windc

“discriminating

dow-areas in and bathroom house. They’l to give more | better lighting ing. An Acco! House levels the basement : roof like the cordion. But th basement will utitization. Built-ins—fu age walls—wil larity.’ Storag closets and er

—housing arran

the new focal will not supple the current “I Gingerbread in the "20's, w more funetion overhanging r« capture the su tect against h being scientific conventional | —The—house;" its current

—tion, but flat

and curves wil more common Neighbor! Neighborhoo more harmon Unrelated desi and Jeff fea ghoulder-shrug of design. The newer

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Savage, India Board preside: Mr, - Savag federal housir ~cine and -the the noon luncl Claypool Hote