Indianapolis Times, Indianapolis, Marion County, 13 July 1950 — Page 28

Inflation—Rules Will Follow

This is how it will happen, and how you will know!

when to expect them: “First, President Truman will ask Congress for more

} . i sure on business, wide distribution of stock is an advantage, i

whether the whole world’s on fire a bite out of dividends. fined to Korea. i i ~~ The most visible signal for! MARVIN A. WALBRING, controls will be the voting of a Greencastle, bus driver for the big chunk of money to win in|Indiana Railroad, is getting a Korea. {gold watch for ten years of driv8 = E ling without a preventable acciWHEN THAT HAPPENS, and dent. ; ] It should happen soon, it will be| Sixty-eight other drivers for time to re-rig your sails for a Indiana Railroad are getting war-controlled economy. 'safe-driver awards from the The controls will tighten on Hands of John T. Martin, vice “credit; consumer goods, and fi- president and general manager, nally wages and prices, | The awards are being pre But hoarders can bring con-gented this week in Ft. Wayne,

trols a lot faster by making myncie, Richmond and Anderson. | goods scarce. i

Don't fill your warehouse, or Sad, Sad Truth your basement. | THE AIRLINES ARE STILL If you do, you may find YOur-i,.cking away at the rafiroads. self wearing the strait jacket of Latest statistical showup is a a full-blown war economy SOONer|.,.,..prison of figures between

thaa you expected. s {the rail passenger lines and the Kroger's Head Man {sky routes. TOP MAN of the Kroger Co.,| The figures came from the which is swimming vigorously in Magazine, Railway Age, but were the fast Central Indiana food distributed by the airlines, of

executives,

and what it will cost to keep body |

The Big ‘If |

consumers that food prices gen-| erally will hold at present levels, if there is no rush or hoarding. He's a No. 1 grocer, and he knows his onions, but I can hardly give him a passing grade on knowing human nature. People scare easily. They take care of themselves first. There hasn't been a time, yet, when

To Korea Conflict | By ELMER C. WALZER

that they haven't gone out andjday. bought it up. :

. wow te ti FE BEST -WAY -to-stop—&;

sight, keep the sugar shelves at $199.06, new low since Jan. 26. superiorit filled, and tell the customers they! The general stock average now Ons.

can have It by the ton if they stands at $70.61, a new low since! want. It, j Dec. 21, 1949. It had touched!

= - - ¥ I RECALL during the shortage

risen from $57.75. on June 13, . of Kleenex at the end of the last! 1gu0. : - To IU Music Post

wgr. One housewife asked her 1 re Srey Srasemt J she Suid have So far this costly liquidation The druggist looked her straight|as been stirred purely by war in the eye and said, “All —you want, lady. How about a case?” She thought a case would be

5 5 « Vision War Economy

visions of a war economy with|

at the chance. - But a “case” turned out to be

her weekly budget galley-west. [of the sellers have made out an th Pag usie That was a lesson she'll always right. Most of them had profits 5¢ pr remember. {and got part of these profits. 'World War II 1S bl They protected their invest. © » Steel Scramble ments with what Wall Street

STEEL'S IN A TIzzy. 80 calls stop-loss orders. These are

know what to do. {otffrant market so that the stock-| Currently studying for doctor's Iron ‘Age, thie big voice of steel, holder can retain part of his 9®

says that unless voluntary alloca- profit in his holdings.

CMP, and force the big producers market. Often when they finally _

to make the right types of steel gre executed the market has fall Official Weather

UNITED STATES WEATHER BUREAU | July 13, 1938

and see that they get to the right/en far below where the stop Was EE placed. ’ “Recognizing this, steel users “. Pleture in Brief this week are climbing all over

mse teel| Here is a brief picture of the pi ifetion 24 hrs. endin Sher elven YE a a. - teal]! in values in leading industrial | fota: a they are taking any type they shares from the year's highs to —— can get. Many types sre booked today’s prices: Allied Chemical. ature In other ofties:

up solid—-indefinitely.” off $48.50; American Can, off]

Look for an iron and steel Ag- (827; Chrysler, off $17; Coca,Cola, Bosto

visory Committee, the beginning off $41; Du Pont, off $17.88; Gen- Chicago of EY or as early as this DS eral Motors, off $19.88; Interna- | Kincinnat

tional Business Machines, off $45;

ver Coffee Rohm & Haas, off $2350; and BI*Wiit,

THE LANE BRYANT Mail/U. 8. Gypsum, off $34.50. i

Ho Ind) “Division has a free coffee! In the 12 hectic sessions since Poder a {June 23, thére have been 3.83, pu And employees, to show their 014 shares traded, a daily aver New

, pay a nickel a cup age of 2.6566,918. Seven of these

which goes to the Red Cross and /sessions have been above 2 mil- Fittsbar Community Fund and other chari}lion shares and of these there San ‘ties such as Riley Hospital and a have been four of more than 3 Wo kfile o.

_ Christmas party and clothing for{million and one of nearly 5 milneedy families. lion shares. | ° Now Lane Bryant has a new| Wall Street experts term the enterprise to cheer for. It is a market emotional and hold that

losdes » x killed, Decline Attributed { missing.

“Herolc Holding Action”

“American ground , units United Press Financial Editor {Korea are fighting one the NEW YORK, July 13—War in most skiliful and heroic holding! Korea has carved +4 billion from actions in history. Their excellent| CaPitol Ave. She was taken to St. the value of all listed stocks, a peacetime training is reflected in ’.ncent's Hospital in serious con- juries. Two girls, aged 15 and 186, United Press survey revealed just the SoEbal = record Shey are now smelled a shortage of before stocks opened steady to- compiling. They ve n over Shey a a tood pe ¥ |whelmingly outnumbered, in some The list eclined steadily instances more than 20 to on since the Dill market of 1040. 1000 and the casualties inflicted on th ) Tounded out its first year on June enemy have been immeasurably] “run” on food is the same way 13, just a month ago. It already greater than those they have sus-| & bank stops a “run” on deposits. had lost $1 million in paper|tained. They have filled a breach — The bank piles its windows full profits -from June 13 to June 23. Without w of paper money until it looks Thus today the market is down forces would have, long ere this, plentiful. When the depositors $9 billion from the highs or aboutjcompletely overrun and destroyed %* re —see-80-much of It around, they 40 per cent of its gains in a full South Korea. This has provided Real weaken, leave their money in. |year of rising prices. {time for the rapid movement Of Ad _Club—Luncheon, 1A So grocers, like Mr. Willis, do| That year-long bull market had reinforcements forward, in exploi- Fuel Credit well to tell the pubiic there's carried the industrial average to tation to the fullest extent of t plenty to eat at fair prices. And [$228.38 a new high since Sept. [logistical : the next step is to keep it In|20, 1930. Today that average is Each day we reduce the enemy's y in numbers and weap-|

Less Than 500, ~.2

% ty (oa as Army Declares’ (#7. Press Reports Held | 4 Excagerated by Heat,

TOKYO, July 13 (UP)-—Ameri-4 : can losses so far in the Korean fighting money. He'll get it.| The administration plays with war total fewer than 500, in-| Secondly, when he begins to labor for the vote, but if the big cluding 42 killed, Gen. Douglas] spend it, inflation will roar and corporations can outweigh labor MacArthur's the government will install war|/in the number of stockholders, nounced today. A special com-! priorities, . {then the boys in Congress may munique sald press reports had By that time we may know think a little longer before taking exaggerated 17. 8 casualties.

Whether the blaze will be The official announcement said] oF whet jer the haze con-| fety { American ground units, “fight-| 10 Sa Years ing one of the most skillful and] heroic holding actions in his-| tory,” had inflicted far heavier punishment on the Communists than they have suffered them-

The text of the special 11 p. m. communique follows: losses American forces in Korea have; greatly exaggerated | | press reports from the front. This | is a result of an experiment being tried, perhaps for the first time

‘Grisly Reports’

“Reports of warfare are at ny time grisly and repulsive, and reflect the emotional strain normal to those unaccustomed to the sights and sounds of battle. Exaggerated stories obtained Sram -| course. {individuals wounded or mentally] market, wil be 18 town tome They showed railroads lost from shocked have given a completeiy: He will check the Kroger op- 1 per cent to 23.6 per cent in|distorted and misrepresentative erations here, inspect their new, Passenger revenue, while the air; picture to the public. : | ~modernized—stores,—and huddle routes gained from 5.7 per cent! “Total American losses to the with Rodgers N. Brown, Indian- 0 153 per eee the end present time are less than 500, 0 an e nning of ‘amountin apolis manager, and other Kroger! 1950, Jamon 8 256 missing. Many received | He's tops in food and { The railroads well know this of the missing are undoubtedly Washington St. west of the city ‘makes it move, and he’ll have a/®8d, sad truth. And the airlines, men who, in the confusion of {jmits. story to tell about the food sup-/duick at picking up railroad dol- fighting, have lost. touch with ply, the effects of early hoarding, /!ars. don’t mind telling it. {their own units and will event1 ; r—— etait {ually return. and soul together this fall and! dl: “Probably the most flagrant of | winter. | on op these exaggerated reports dealt iwith the so-called of the 34th Infantry, which was

PAUL 8S. WILLIS, president of| reported as being completely anthe Grocery Manufacturers of en 0c S I nihilated

ee America; Inc, yesterday assured

whereas amounted seven wounded and

which North Korean

capabilities at hand.

A —————— r $79.71 on June 12 to which it had Prof. Long Named?

MARRIAGE LICENSES Fred T Stokes Jr.; 20. 2323 Yand Times State Service Pp BLOOMINGTON, i Prof, Newell H, Long has been| to market ex- appointed first assistant dean of fears, according {Indiana University School of Investors have conjured up| Music. — , In announcing ™ about a dozen boxes. She jumped! ily squelching civilian pro- he appointment duction, excess profits taxes wip-{0f Prof.

ing out yields on stocks, and al/Dean Wilfred C.§ big enough to fill the back of her rnd a “that go with all-out Bain today said}

car. She then was ashamed tog, [establishment of = “back down on her deal, and eart-| Many of them had high profits the - ed it home. F0 and they have tried hard to real-| Vas necessitated She not only didn't have enough ize as much of them as possible. [PY a 175 room to store it, but it knocked So far, it is estimated that most Cent increase in

Long

new post

Graduate enrollment, ’ § Bain said, has Increased about| PIVORCE SUITS FILED many orders the indus‘ry doesn't orders placed to sell under the 500 per cent, with 51 students|vs Charles Sim ; or son: Eva vs. Loston Parks: Crystal A. va.iT grees in music. ™ { Prof. Long, a tion works the government willl" But when a market declines}ington County and ne Iu gradcrack down with its Controllediguickly and catches the stops “ate, has been a member .of the Materials Plan; you'll know it as!they become orders-to sell at the Music faculty since 1935. :

fee :

PARTLY CLOUDY AND

THUNDER ” : - STORMS T. MU MEGULPALOFF. COPR 1PSOEDW. L. A WAGNER. ALL MIGNTS RESERVED.

TONIGHT AND TOMORROW-—A high pressure cell, which will be centered directly in the center of the nation, will cause fair weather over most of the in modern combat; that of avold- eastward, extends from the southern tip of Texas through Louisia ling any military censorship or! York and touching the western tip of Majne. East of this cold undue restriction of the move- |

umid but not quite so sticky. ment of correspondents. mre A wo

FOTOCAST NS"

AFFECTED

LEGEND SCATTERED SHOWERS" AREA Gmmomize AW

country, A cold air front, moving na, Tennessee, West Virginia, New front the weather will be warm and

: j Rah no . | | e t Remain at $25 High Hog prices dropped around 25 beef cows were salable at $23 to and choice 180 to 240 pounders - fwere still high at $25 to $25.25. In a fairly active market prices were steady. Weights,

$24. brough t 9.75 to $22.75. Canners a sold at $18 to

$20,

t0{Cutter and common . grades . moved at $20 to $23.50.

active trade. Good and choice

pounds, sold at $16.50 to $20. 270 to 350-pounders were t $20.50 to $21. Heavies, 1600 to 700 pounds, brought $16 to|in active trade. Good and choice 9 de Ee ee jo 1 dium and ambs 2 p Sauter Caml sflable nt $5 15 32150, © | All cattle slaughter classes {were fairly active. Prices were fully steady. Two loads of me{dium to mostly good 1025 to 1050- | {pound steers brought $30.

down to $21. A few medium and good slaughter ewes moved at $6 to $9. Choice grades under 135 pounds were quotable up to $11. A load of mostly medium 950, Noon estimates of receipts in the Indianapolis Stockyards were: grades held above $31./hogs, 5250; cattle, 1025; calves,

pounders sold at $29. Good and

V2 warn

gone 750-pound heifers moved at 30.

lings brought $23 to $28.50. Good!

Local Issues

Manager Named

Crash Seriously ~ Moneger Nemed

Injures Woman

Two Others Hurt In 3-Way Accident

Mrs. Ilene Davis, 24, Plainfield, | 5 Was-in-serious-eondition—in Meth='— odist Hospital today, with injuries in a collision on W,

tail outlet at 906! Broad Ripple

don, attended the of

Her twin sister, Mrs. Irene Hes sler, was treated at the hospital

formal opening tomorrow

was driving a car g study in color, for which the!

“lost battalion” "hich collided with a truck and a firm 1s noted.

24, of 957 Eugene St. passenger after his car collided with a car on the motorcycle, was treated at

the hospital for lacerations. © Taken to Hospital

driven by Miss Juvenile Aid Division employee at College Ave. and 23d St. Smith week of Mrs: Marie Spicer, 35, of 2269 was charged with reckless driving said. |N. Illinois St, was injured yvester- and failure to stop for a preferin day at Central Ave. and 19th St. ential street. when struck by a car driven by William Letiff, 40, of 4051 N. Irma Leslie, also a JAD worker, | were given first aid for minor in-

Miss Gunneil and her passenger, |

{who were being taken to the JuveWill Henry Smith, 60, of 423 W. nile Center, were treated at Gen-| 25th St, was arrested last fight eral Hospital and released.

IN INDIANAPOLIS

EVENTS TODAY

Tevnis Chimpionships—Through {ena

I 1 eal Estate Board—Luncheon. Washing BIRTHS { TWINS Lin La Methodist-—Carlos, Betty Summerlot. At General—Robert, Reta Hargraves, boys. |

olland., Betty Ayers: Robert, Helen Aurel-

5! SAVE :

C. Association—Luncheon, |, coin he Internal Auditors—Luncheon, Warren.

{EVENTS TOMORROW m Tennis Championships—Throush

n oastmasters Club—Dinner, Marott,

; bert, rman, Eilzabeth Maher; Robert, E arton; Gerald, Virginia Dayle, harles, Margaret Landerholm.

Va Dear< At Methodist — Phil, Elizabeth Overman. : es, Ward

At_St. Franeis-Joseph, Alverta Linehan: + Donald, Jean Bowen,

ans, 18, uck! & 21, Cherry Point, N. C.:

Hon aliam O. Lee, 58. at Veterans, perinn . Louise Charles M. McClelland. 72, at $208 E.

, at Veterans. cerebral .- 73. at General, myoins, 77, at 3348 N. New 82, at 2350 Central,

1d , 884 BE. Dr, Wood-| er B, Jen ff a . Bowman, 25. 132% Car | Jersey, canoer, nderson, 44 Pittsburgh, Pa;

Ship Movements

- Mr Cusumins; 2 Columbus, Milford R. Chandler, 21, 511 W.

} The week's total was 63 per So cent above the average so far this/ Seo: year of $223 million which, in turn; is 46 per cent over last year. The volume compared with $190,346,000 in contracts awarded in the five-day week ended July 14, 1949, and with $214,379,000 in the four-day week ended July 6, this year. A $117 million gas pipe line con-|. ruction award by Peoples Gas (Light & Coke Co. to Fish Pipe Dorsey Line Construction Co., was largely ‘responsible for the record awards. ‘Even without this contract, howjever, volume would have been 16/] {per cent over the average to date, /the publication reported.

+ 90%

DRASTIC REDUCTIONS!

Genuine Plastic Top " Easy to Clean Cigarette Burn and Chip Proof

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Absolutely Perfect

merican States com

Building Contracts i: Set Record High

| New Peacetime Mark 8a 46 Per Cent Over '49 5

| NEW YORK, July 13 (UP)-|fami kman Construction contract awards Hamilton Mfg Co com a native of Cory- swelled to a new peacetime record |Home $364,963,000 this week, boosting [volume for 1950 to date to $6,244 - 1° joining the com-| 408,000 or 46 per cent over the {1949 level, Engineering News-| tore's Record reported today. (3 Volume for the five days ended Liteon Yynch © [today was $3 million over the pre{vious peacetime record of $362 million in the week of Dec. 2, 1948, *'but $70 mililon less than the all-|} time high of $435 million in the - May 7, 1942, News Record Bublic

Ayreshire Colleries com

ec tern ina Tele § ofd

‘Load of good medium and mostly|275; and sheep, 375, — pert Set f * Bl —— |: Small lots of native grass sear. Three-Gun Bandit # 5 = 8 Gets 10to 25 Years = —; | A %hree-gun bandit, clad in a : 15] He \dark blue pin stripe zoot suit and 3 Ashes; 3 bright! yellow tie, today was 00) sentenced to 10 to 25 years in 15] *'the Indiana Reformatory on a 30 .'charge of robbery. i «45 | William Hyatt, 28, of 2114 N. TT00N ‘i Alfree St, pleaded guilty in 15 & 2; "Criminal Court 1 before Judge :30 iPro Tem Edwin McClure. AS Charges of kidnaping and as. le ‘sault with felonious intent were 15 ‘dismissed. emit iis 105%

Equitable Securities com .

{carrying three guns when caplured, was convicted of the rob‘8% 'pery-beating of John Sclipcea, ivy elerk in the Little Chum Liquor 1537s Store, 1422 N. Capitol Ave, in -—0 107 {which $33 was taken. .

Common and medium grades

Medium and good beef

Vealers Steady Vealer prices held steady in

Common grades were salable

The convicted robber, who was 45

Hyatt was captured after Mr, 12:3

r—— Jd BEBE EAm P= gE wa

{Sclipcéa hailed a passing police 5 4, car. Police caught Hyatt in an ——t alley after an exchange of shots. " So ——————————————————— i ———————————— : Pe Local Produce 30 | Eegs—Current receipts 55 Ibs. to case, 00 26c; Grade A large, 27c; Grade A, medium, Ah 25c: Grade B large 23c. and no grade, as 0c { | Poultry—Fowis. ¢% ibs ano over, 18c: 30 {under 4%'a lbs and Leghorns, 15c: cocks 45 Ti {and stags. 11c. and No 2 poultry. 4c less i than No. 1. +00 | §4 i Butterfat—No. 1. §3¢c: No 3. 500 15 1190 : 4 . . . i Local Truck Grain Prices 30/

eRINE Te AA, af rre Haute Malleable

No. 2 truck wheat. $1.97, No. 2 white corn, $1.91. . No. 2 yellow corn, $1.41,

No. 3 soybeans. $242. TONI

:z|U. S. Statement

n of Com Bldg 4%s 61.... 96 RE BT

fndgls Public foan §

+. {ment expenses and receipts for cure ¥ «es jrEDL fiscal year through July 11, come ¥ . {pared & Year ago: Fear Last Year Expenses § 865,130,597 ‘§ 998,583.53% Receipts 551,560,304 578,484,751 Deficit 313,579.283 23 339 Cash Bal. 4,754,478.673 2,583, 11 {Pub Debt 257,178.270,678 252,408,783,580 Gold Res. 24,206,490,167° 24,513,219,367

Bias 15 on Terminal 8 $7? i

By United Press York Arrivals—Iie de: France, Le

mont, | _ New {Cleorge R, Shumway. 28, 1030 8. Mount: Havre; | Sybll 8. Shumway, 31, 1030 8. Mount. |Marseille; Majalianss. in | New York partu _Antw Mauretania, Cobh; P ; Pu Ric

Port su Prince; Queen of da: San Jose, ‘Cristobal; Uruguay,

i native of Hunt-

~ FOUNDED 1913

Sanrise . 5.2% A wm. | Sunset S03 pm

precipitation since singe January raicomispini Eo

following table shows the temper-.

HOUSEHOI

37 Years of Service to — INDIANA INVESTORS

This business was founded 37 years ago by two men whose aim was to give - careful, personal brokerage service. It has grown to an organization of over 500, with offices that cover the state of Indiana, and with offices in 33 othe important cities, . uch growth and stability is a good indication of the type of brokerage setvice you can expect from Thomson

Our aim is to keep our customers constantly informed of investment opportunities and significant trends in the: business world. We maintain a well-staffed Investment partment which regularly issues Stock Surveys, Bond Reviews and other peri-

ciirréni Stock Survey

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