Indianapolis Times, Indianapolis, Marion County, 2 July 1950 — Page 32

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Bringing

Decline Expected for Next Year

J. A. LIVINGSTON Foote

on the outlook through 1951, will be the first to

ufus Tucker, of General Motors, Thomas, economic adviser to the! De Federal Reserve Board, used sim |

ilar words, :

tc his forecast: “Ex-war.” Wil: ; _of. Even those whe mad

the Federal Reserve Bank of St.

. Labor Btatistics, and Woodlief duction, wages, profits. vd . ;

—-2,000.000. would require the induction of about 500.000. The Korean crisis. tightens

ations are sure to Increase. | country Is likely to remain dis- ~~ So will the flow of munitions | Torti! of Soviet Intentions. —-tanks, guns, ammunition, sig- | nal equipment; gasoline, and so

ern Europe. The United States must be

Even if the Korean crisis re- | ders,

few weeks-—untll we know what the South how far it will involve us and Russia—will quicken.

run course of economic events, noxt year, if not this year.

, Outbreak, still are useful, The cri- ment “stop production” orders.

¥ - {

; optimistic. They forecast durable goods and for homes, business between now and when and if it comes. the ond of the year and then al The problem of the govern--mocerate downturn in 1051. ment will be to mesh war producccry behind that: Supercharged ition into civilan production withBuying of automobiles and homes! out upsetting the entire economy.

. FRACTURE. IN THE CRYSTAL BALL _ Economists foresaw drop in stock prices and: 450 Production—before Korea. What now?

ens 0 HE 250 4 i132 208 : oe od rR $ 178 5 ; 150 ” 150 : fee i : : £ 100

: : OND JFWAN J JAON To nam) ° . Sn} 946 bed 94 Pend oe 1948 nd be [949 od be [950 nd bo [95 cand Dota: Pod Res Board Dow-Joaes & Ca Propared for J. A. Livingston

5 * It the economists are right in their b Easy to Provide predictions—of diminishing demand mes = “Then

ratings on scarce materials like steel, and regulated produec- ~ tion. Black and gray markets will

aster Business Pace Tightened Economy May Reverse or Postpone

ALL BETS AREN'T off exactily, The Korean crisis doesn’t ’ . destine all economic forecasts to the wastebasket. But appraisals— " - guesstimates for 1950-51-—have to bs re-examined, as the 43 stra-tegically-placed economists in business, banking, government, in-' vestment, and research organizations, who answered my midyear

ments in writing had an “ex-war” Louis, entered this caveat: “Iireservation in mind. For war is! am assuming there will be no/the great unsettier, It creiites conmajor change in the internation-|fusion, unexpected demands, spec | al situation.” Aryness Joy Wick- ulative frenzies. It could bring on ens, assistant mmissioner of government control of prices, pro-| J

. : Broad-scale war would force per-| Tighter Economy Sonne! managers to recruit li] 3 ments for men and women taken by the armed forces from desks! and machines. A scarcity of laber undoubtedly would quickly develop. ! Merely to bring the armed forces up to authorized strength of

the economy. Defenses appropri. sults in a quick sohition, the |

For the next few weeks, busi-| § ness. men will try to bulld up in-'§ 5 4 ventories. Goods have suddenly, on—to the Far East and West. ‘become more important than dol(lars, That's why commodity prices : {have shot upward. And construc. prepared for the worst and the tion underway will be rushed—to 8

unexpected. {beat any possible stop-work or-/}§

Demand-Driven Economy ops St 0

rean invasion means,

B 2d ihe pattern pt Susiieas, at least the pattern that most Jusiness analysts expected, will undergo a change. It can't help it.| : é : a ne Any time you get a bunching of : oe LR rr This sturdy, functional stone bungalow at 206 Arden Drive was bought by Joe Careskey, mana- |,14 soybeans had reached new. ger of Star Motors (used cars). It was built by Don Long and sold through | and broker, and Art Lamb of the R. G. Walker "Co, It is a three-bedroom rambler,

ieclipsed routine market reports on the contracts would be gladly billed directly to. feeder -dealers, otnerwise have accepted. Today is the first day For the week, receipts were about ispelled lower prices. Sometimes for deliveries on July commit- the smallest so far this year. - trade news favoring higher pricés ments. a i

{had an exaggerated effect, { “March soybeans Friday sold at'squeeze play which may forces

orders, you change the short-| will begin to peter out some time]

But not necessarily the long-run! However, now, it's logical to assequence, : {sume that people will try to buy: = g | EE - = 5 y That's why the forecasis, even more autos and homes in Real Estate Tests’ ; ’ : ; though made before the Korean anticipation of potential govern-' f{U TER ee na

sis does not change basic influ- What's more, expanded muni- = | ces. Rather it adds to demanditions demand will tend to ere TD Be Jul 1 - a4 deéemand-driven economy. as a cushion against any let. | |

“nations this year will be held

851-then the mesh will be easy. But it war orders pile on top| Last two examinations schedhe of reinvigorated domestic orders, sellers’ markets will develop anew. uled this year are at South Bend, i “Then you can anticipate outcries In Congress for price control, Sept. 19-20, and Bedford,—Nov.|

Two Stone Bunga

lows. and

i i

This substantial stone bungalow | Eugene E. Franck, associated with the Estates Loan Co., by Mr, and | handled by Harry Knight of the Knight Realty Co. 5

Seminar to Precede.

License Examination

| Tests and lecture notes have been dusted off for the second, {local examination for state real’ lestate licenses, ak { | The fourth of six state exami-

July 18-19 in the Antlers Hotel. | And more than 115 aspirants {for brokers’ permits have signed iup, Robert M. Reel, executive vice, {president of the state commission, | {announced yesterday.

Stock prices would be down

Ap iy economists envisioned! from 228 in the Dow-Jones in- : ustrial average to 218. They're

now around 193 would decline to! already down that low as the

er 1951, result of the wave of liguida~ ‘That's a drop. of about 6 per tion. . : tent—s0 small that It might be] The most optimistic “stockdescribed as a projection of the' caster” figured that the Dowmime present. MRR SE § ., Unemployment would go up UIYem 8,100,000 7 te 4,300,000; bu

“| Jones average would reach 523

simistic figured on 140.

the armed services, that would sommodity prices, the cost of livnecessarily be altered. t : ling, and pricessreceived by farm- - aicikup 8 pepa ment n nowt: Those forecasts seem vulnerol al 4 lable now. - - - 30d the sud of the year, Sollowed, The cash deficit was expected ~" Bust failures, would Mise ito rise slowly—from the rate of abit. as business falls off: And BE 800,000,000 now... to. about weekiy wages would - decline | 800,000,000. But war expendifrom thelr present Righ Tove! tures. should -raise-that-rate; Fx 7.50 to just below $51. ports were estimated to drop, but of §5 2 : ve {increased arms ‘shipment would > y change that. : {And there you have it. | The question now is: Will the threat of war change an expected

into an upturn? Or will it merely !defer and perhaps aggravate the x evitabler EES at Sinclair Refining Co. Buys Illinois Plant

AL IRON IS NOT OUR SIDE LINE

= 4 Syieidae Ye five Buje HARTFORD, lL. July 1-<UP) 3 ren Mi {—=8ale of the Wood River Oil &

|] For: Railings, Porch Columns, Mail Box and Fine and marketing terminals at Lamp Posts, Iron Lace Work. Handmade | Pery ana Rockford, Ill, to the | Furniture, Shutters. Door Canopies, Fire I Sinclair Refining Co. of New York Screens, Fire Escapes, Steel Stairs, Interior § was announced today by Fred C. Ralls, Guards, Grilles, Balconies and In- § Roch of Wichita, Kas., president dustrial and Miscellaneous Fabrication. of Wood River Oil. PHONE CA-4918 NIGHTS: WU-7047 || - The refinery, built in 1040 and — we recently modernized, has a pro-

{duction capacity of 35,000 barrels

PUTLELLLTI, vi oi comin 5"

OINVIDLLLULLLD =i os: iim ™

| EER | OMIT DIVIDEND ACTION > GRAND RAPIDS, Mich, July 1 (UP)—Directors of Hayes Manu- | facturing Corp. took no action ‘on the common dividend whieh

~f-Dusiness-decline tir nren'y minds):

Refining Co. refinery here, its pipe!

with stepped up requirements for! pocjney were predicted for cent more than the total for May, 120-acre farm in Hamilton County

with two bedrooms at 5236 E. 16th St. was sold last week to

Mrs. James Borsch. The deal was du

sh Me:

the Indianapo , Co. % And he's going to

dall's

The man who lights up hous: hers is going to plan one for Indiana to see. : ‘ That's A. C. Crandall, vice [president in charge of sales for Hs Power & Light

11951 . model house for the 26th annual Indianapolis Home Show. His selection to head the top yesterday by Richard C. Lennox, president of next spring's housing fete. Other members of Mr. Crancommittee include 0. W. Brown representing cers’ Council; Louis Moller, bullders; E. D. Pierre, architects; : ; : M. L. Hall, builders and realtors; 4 TR nompson. to $1 to top at $22.50, highest {Verne K. Reeder, material deal- ober in ‘ers, and ‘H. J. Schnitzius, land- SLY; Soigkrimier and ShisrmaR ry (cents higher prices were paid for scape and nurserymen: = | Mr. Lennox also named the fol-| *Suzasa wager. Schnjfuiys. char] All pens were cleared out well {lowing committees for the 1951 Falmer and Mr. Plorre. / boar

ow:

Pinance—Charles BE Wagne

| Soar to $22.50 Of Korean Crisis CHICAGO, July 1 (UP)—All the

head the : which, tops came off hog prices which, =. committee to plan and “select the ~ because of the Korean : Hy pan “shot up to $22.50 a hundred

highest for nine months, founds, final trading this week.

lin Korea which bullishly affected most commodities, speeded up a “seasonal” advance which was due soon since hogs and other livestock offerings run short in hi : July and August. > A. C. Crandall In final trading Friday, prices Donagh. Mr. for butcher hogs soared 50 cents

the _Pro-

. Joh Ye tener Fepstarmaker, since September, while 50 to 75

| Blessing. Mr, Esterline, L. Palmer sows, . re. Risse. + Mfiincluding cattle and snes Prag: i on--Mr. P 5 : > 88 of cattle so Public, Benga, My, nisger fhoignan, tically every cla ompson

r, chgirman: a ae Th {higher for the week with bulls ,.

A vo ¢ ! rrillc B. teriine, JJ. Ralph Fenster»! By-Law Revisions—Mr Weiland, chair gelling at a new high for over a

I Opening Ceremony—Albert E. Thomp- Mr Wasser ang Mr Pike year. The top price Friday on the ‘son, chairman; Mr. Brown. Howard W. Traffic ohr. eeder, chalrman: Mr 25 iFieber and Albert IL. Maillard. Pike, Mr. Maillard, Mr. Mouer and Mr, latter was $25. { Publicity-Entertainment— Mr Stewart. Spickeimier 4

| modities

meine | Lamb Prices Drop

i 5 gege TT 7 tit 't such a spectacular Commodities Race Higher |= ira to

{the market for lambs down B50

i i i 7 } : : ind 50¢ yd with last On Korea War Outbreak cm: osu compared with last

because of a declining dressed

CHICAGO, July 1 (UP)—Com- short of a 10-cent rise, the limit! mariet.

raced higher on the for one day. aX { Board of Trade in the first five] Traders followed action in the oirongly Friday at the week's adidays ‘of dealings following the Far East closely and also kept vance of $1 to $1.25 and cows -joutbreak of the Korean war. . |an eys on the stock markets fOr were firm at the current upturn

Steers and heifers traded

Before the close of trading Fri- evidence of trends; Dips in stocks of 75 cents to $1.25. Twenty-five

iday, at least nine futures deliv-| were usually followed by buying cents was added to the previous

ieries shared by wheat, corn, oats action in commodities. week's rise on bulls

iwhich might

The war in the

Five days after the

On top of Korean news; July, Waeek-end cattle receipts were

harles Binkley, builder highs for the crop year. soybeans were aided in the ad- only 1500 head, small as it was,

Far ‘Fast vance by the belief that tenders and it included 800 stock cattle

Packers were caught in a

War ‘news new high for the crop year as/them to raise finished meat

first hit the market the price pic-/did all deliveries of corn, May prices, The dressed meat trade

re was as follows: Wheat fu: oats and March and May wheat. failed to keep pace with on-thee

Soybean Prices

tures were up six to nine cents a. Wheat advanced despite a flood hoof prices and may put slaughs bushel, corn up two to five cents, of favorable news about the new tering operations in the red.

. (oats up three cents and rye up crop. ~ Dry weather permitted! fractions to two cents

; rapid ‘harvesting of new winter Ford Motor Co. Seeks Up {wheat, the first carload of which! :

h & Soybeans were 17 to 18 cents was sold here Thursday. ‘New Output Record higher and lard futures 50 cents| Only rye lagged. It was de-! DETROIT, July 1 (UP)-—The to - nearly a -doliar a. hundred pressed by the probability of Ford Motor Co. said today it

{pounds higher. In the past two large tenders on the July con- made nearly. a million cars and i sessions, Jaly soybeans

came just'tracts. {trucks in the first half of 1950 2 — {and “stepped up” production

3 3 TL. Ps: st of the vy More Records Smashed nodules fot the test of the year

Ernest B. Breech, executive vice

Among top sales recorded by the Gil Carter Co. last month, By North Side Realtors : president, said the company sa-

| this two-bedroom home at 3015 Winfield Ave. was purchased by

as 60 day: with new days away. That's when the n close buyer year's car, that doesn’ And des keep cars I showrooms, are told -to tories in ne But the the used ca It remaines no rush to wire “befor The usec drops off 4. Then is vacation to the appetits sides,

Kuhns |

Bill and Chevrolet d dle West their new § ice agency Ave. The Kuh: the exact gO over to three times together. And whe Paul Kuhn relief to have been of crowde present qu . Ripple Ave NoSpin There's’ way which spinning in NoSpin. Now, wit

8. F. Bal tomotive | makes the available c optional eq:

the public works and the utilities. The properties handled by Mr. total increased by 24 per cent. [Martin included 3015 Winfield i rennin ns eh meres {Ave (pictured above); 3968 N. : Capitol sold to Mr. and Mrs. ArKeep Chrome Shiny : ithur Burris from the William T. The chromium finish on faucets, poss esfate: 4234 College. Ave. valves, and other plumbing fit- em tings. can be’kept shiny and lus-

with not water ana soap. then | NOW You Can Heat Your Home, -

ringing it, and finally polishing it

gently with a 2k foft cloth. i Your Office With : S = | i... ELECTRICITY | | RADIANT GLASS OF INDIANAPOLIS

i } i |

1227 CENTRAL AVE.

} !

TEES

Refinishing ~ Cleaning

~ Cornices and Traverse Rods .

(Ave, Mr. and Mrs. Raymond L. Carnes from Charles I. Carrell, ‘and two lots on 36th St. In the, College-Way addition were purchased by Mr. and Mrs. Ray ‘Worth. +4

RI. 3760

EXPERT OLEANING AND REFINISHING |

VENETIAN BLINDS

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a] Tc

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HAVE WHAT YOU WAN

f exp | . ” - ‘ Ci J land Lincoln cars and Ford trucks, year o | Candidates for Hoenaes hao Mr. and Mrs. Paul L. Cave from Mr. and Mrs. Robert Agnew. Mr. {Continued From Page 81) |yania St. in a cross-sale With 5 postwar Ford high. rey [ied a Olea Som | is i jated with the Wallace Tool & Die Co., Inc., while [keep total sales a top business 'Y IL. Robbins Realty Co. It was the best:six-month out. “ther |estate before taking the written| Cave is associated wi the Wallace joo oh “ or ! . p Gregory & Appel—2001-3 Moore | 11" oi! os 1699 when 1.000.825 vee of ‘them fo jand_oral examinations, he said.| the Agnews have moved fo Miami, Fis. Ed Martin handled details secret. — Live, 2005-07 Moore, 2900rthu since 1070 when 1.009.825 vo. he da 2a © —®peakers at the seminar willl of the sale. > ; : And the utlonk for ihe next 2O0Te, 2913-15 Moore, 2917-19] word production in June totaled & ayitie nl {he Attorney Joseph G. Wood, who! Na ; s » un six OBIE: Good, ver ood Moore, 2021-23 Moore, 2925-27 188613 cars and trucks for a. down will speak on ‘Contracts ang . > barring NniGreseen ya 800d, Moore, 2029-31 Moore, 3105 postwar mark and the best month Two big ares sven dense Gil Carter Co. Handles Sales are big. That's reflected Ini nes, gen Bt, all in Beach Grove,® "Ast 100. ested and | {Russell A. Furr, president of. the . . ; mitted ho AB transactions sub-| "Gerdenich Realty Co. — 3919 PRIVATE LOANS LEAD 100,000 |L. M. Brown Abstract Co., “ab- 99 Transactions in Month PN Afren Chairman War-| washington Bivd. : | WASHINGTON, D, C—Of the Chevrole stract and Legal Descriptions.” C. Scott Padget: “| Hall-Hottel Co—Lat 121 in a made mor 1s ee, real estate com-| l. €} 3 kh : “Canterbury addition, and 5420 Sages loane eal, 0 L280 matic tran: Un NeKee Anderson, “In-| Numerous North Side Residences and Willis Adams—Lot at 77th and Hortons Ave. in a cross-sale insured 19% and the VA guaran. Output 1s diana License Law.” Jus Hamilton County Farm Are Included N. Meridian Sts. ____ with Loren T. Driscoll. teed 12%. The remainder was fi- units a day | x | The man with the mustache is hers again. Wor orion ponies Cope F. M. Knight Realty Co.—10 W. hanced by conventional lokns. ping up pr ’ : : ; . ash ngton Svd, . 34th Ash 8t. in Zionsville and. 755-57. : ; a day as" i «~That's-Gil-Carter Broad Ripple- realtor. SE | St. "3423 Manor Court, Tot In HIll-| Lexington Ave. Er I i [ ther sales mark last month top estates, 3546 Manor Court;| . John Max Realty Co. — 5035! T. H. kK 121-22. Mr, "Reel sald: Since Janu- He and his brokers stacked up ano : 3 ; v : ohn Max alty . ! . H. Ki 21-22 Me. than 400 have been in the North Side community, helping 22 families buy and selz 3641 Watson Road, 3432 Winthrop| carvel Ave eral mahag ary, mo ; Ave. and 3763 Watson Road. in| Bruce Savage Co. —— 5338 N aris in th awarded Indiana real estate li- homes and real estate i Vag . ! . parts a a cross-sale with the F. C. Tucker panneylvania St. in ‘a cross-sale tremély cle Jesse he said. And that's right on top in sales and in helping a community co, and 1017-19 Centennial Ave. ith Lorin T. Driscoll. it & precisi | grow. ; - " {in .a cross-sale with A. H M.| 8 ond | i : Indiana Building | Mr Carter bandied two of the Mrs. Oscar F. Hinninkamp from) Graves, Tuc Cot Ave 0155 Grsceiens| | LOWEST PRICES 493 in HITS : galas, while ne associates Jere the H. 8. Kendall estate; 4531} Jos Berger—8321 Evanston Ave, lot 311 in Addison Terrace | Visit America’s finest dinpley : 7 R. LP Contracts Soar | Ger handing 10, Mitchner Ave, Mr, and Mrs ave, bess ee 1208 addition, and lot at 91st St, and of Fences and Iron work. Sountss 1) i ; <p a Mark Vail from Mr, and Mrs, Rowin Road, 22 . t t., Kerwood- Dr. in a cross-sale with | em : 9, |. Indiana construction. contract Ed Martin, six; Carl Getz, three, rary ‘Duke; a lot" in“the 8100/2231 Wi" 60th-8t. 817 E: 52nd ‘St. "Harry L. Robbins Realty Co, a The figul {awards in May totaled $42,704,000 and Faul Partlow, onk. .. block N. Meridian St. purchased and 6710 Caroline Ave. F. C. Tucker Co.—1408 E, 49th | J estimate in In_Decimber 1951; the most pes-__ op 35-per-cent-more-than-the April —Properties- exchanged: with—Mrope C. J. Underwood, and a Iot at| Butterworth & Teefers — 5802 St. X Ld total for M figure of $31647.000 and 10 per Thrter dong the legwork were a sgh St. sind Kessler Bivd. bought{Central Ave. and 5861 Indianola Robert E. Walker—5668 Broad- | i iad Mara 1 o Abra rt py Henry Wilson, : {Ave, and 5634 Carrollton Ave. in way. { Ns 7 abiaT Rood March. 1049. jadi 10 3 er ang Ms Cyrus 5 Transactions handled by Mr. a cross-sale with Norman Ham-| Ford V. Woods—825 8. Addison | ©2027 £110 N. Mer dian 88. : Lu the b The figures were reported by ¥. oo | Foil vern raorge. 40% Graham included a home at 4730 mer. st. ‘| ORNAMENTAL IRON WORK strations, | W. Dodge Corp., construction news 6215 Co eye Ave, to Pr. -A.:.C. E. 71st St. purchased by Ralph| ' Coak--1.ot BO or sitet: i OE arOSIS AND GATES estimates | ’ Reinking by George CO. Asch : i Fay C. Cash—Lot 599 in War FENCING AN trati and material specialists, from Ng-by George C. Asche. J Huffman from Mr. and Mrs. - Plate GI Polish [| MATERIALS OR. FRECTED COMPLETE registration Nae Ca i | Mr. Getz helped Mr. and MTs. \wiiiam I Scott: 6015 Primrose Lti8h addition and lots 138 and. Flare ass Olis | Fron Hetimato-Basy Tormt 87.000 unit. India: v's total for five months Milton Bohard settle in 561d yuo! 5 1 SOU SUS TRINH 133 tn Canterbury addition fn a| Plate glass is polished with | su ARTY Factory 8344: Winthaon. 1" 92.241 new ndiat v's « re” $ : . : i w Mr . 8 Ath TAL AF Ee whic % 5 Le Fant t4 Win a a wid 41 ney | 08-1050 48. §127,014.000 -0r- 56.-per.] laxerford Ave, A dwelling 01d. yarotd- 8: Wrights 5802: Havers C1083 Hale. ha Scala pr hin Aeietial parallel LER: G41 Tar 00s In ess April. ‘cent above the same period last! Mr, id Mrs. Frederick Dares. pg Ave, Joseph Conrad from; =. __ A naaye| and Milian nin - a y Double - hyip metre ~ine _Daries purchased. another fee ftittan-€:-Fones—5018-Rats i ' jproperty farther north on College 3 ; : The For: Reaidential confracts -at $22. Soh oy ston Ave, Mrs, Jones from Mark 3 ; Norfolk. Vi eslaentia £c A “| Ave. through Mr. Getz. A. Huffman in a cross-sale with! : Se 7 ’ 088,000 were 36 per cent ahead of| The other property sold was 5346 the Walt Veon Co.; 4824 College & ; : shift July the April figure and 200 per cent Central Ave. with Mrs. Ruth T. Ave... Holmes Gabbert from Paull - A y pr ——— ahead of May, 1049. In the first Reed making the purchase from ghepherd: 5154 Indianola ave ll uy BAAN rc tatters teagan atom costo ison BV a = (five months of 1850 residential Mr. and Mrs. John Mack El¥. wayne Swope trom Robert BROTL: i a : : ! hr contracts showed an increase of! Mr. Partlow found.a. ranch ype 9390 F. 46th Bt; Charles R.| : ¢ > 7 7 HOME RS per cent over the same period home at 8539 Broadway for Ed Clemons from Ernest Koskey: : ne : ‘ 7 The One ‘last. year. Klinka who is‘coming here from go7s N, Ilinois . St., Harry D. : / Lox | fon - residential struction Chicago to work at the Western Case..from. Mr. .and. Mrs..de Jo: JOR REA ei = =f tchen STRWREEE for May intfeased over B 0. The seth MT. Hiatt in a cross-sale with Butter- od Free E: [the April figure by 38 per cent and and Mrs, Owen Traylor. . iworth . & Teeters; 4927 Ralston 236 E.