Indianapolis Times, Indianapolis, Marion County, 23 July 1950 — Page 36
in the Nation—
5 #7 iy
t Controls Needed
To Block Price Jumps U.S. Economy Has Little Give ' Compared fo Slack of 1940
By J. A. LIVINGSTON : WASHINGTON, July 22—President Truman's $10 bil0 "fion-and-up defense program is inflationary. | + Only the most stringent credit controls and taxes can prevent a rapid rise in the price level and the cost of living. . The increased war demand comes when the economy doesn’t have much “give"”—elasticity. “. What a contrast with June ; 1940 when France fell. Then curse. © To fll 4
we were slowly emerging But today, the nation’s indus‘from a long depression. We|trial machine is working 12 per talked about economic stagnation cent harder than last year, harder and maturity. We had spare man-|than at any time since the war, power, materials, and machines.{So there's no obvious slack.
Hidden Reserves othe less. a comtry ax great
purchased clated with the Shaffer Music Co. as ours has hidden reserves, out of which to eke increased production. We could: “ONE, Put in a longer work week, Today factory employees!
Stone's Team Racks Up Be ering A on ue na wen 41 Transactions in June
} BIE He 2 eran nr | But the immedinta bottle Business Buildings, Chain and Cross malarialey sutably » Deals Involved in Month's Activity
used all but 500,000 workers. down Consumption today is run- f Sctually, wemployment got ning just about ny capacity. | The Edsel Co. kept the real estate sales ball on the move : {last month,
as low as 440,000, wom And though steel companies BREE. Employ Shore - have expansion programs under | Realtor 8. L. Stone's team from 1136 BE. Troy Ave. reported 21 9 ; way, the imcrease will be in- realty transactions for June. Mr. Stone issued the monthly report
easier to get, as factory oes | =| i oe when indi bid go sufficient to meet potential yesterday.
i ers, a greater proportion of 3 women will be drawn into the ¥ labor force. Today 29 per cent of { - 1}, 8. workers are women: during the war, the proportion got above 35 per cent.
5820 Central Ave, Among month-end sales by Tom Keller of the Keller Realty Co. was this three-bedroom English was George E. Durrens, retired stage electrician, by Mr. and Mrs. Joseph L. Flynn. Mr. Flynn is asso
s. Tight supplies of copper, |O0® chain sale,
aluminum, lumber will also | sastrict over-all production.
War requirements will subtract Cammon, John Moore, Lee Cooley!
Hamner, Bill Johnston, Bill Tom- Melton. linson, Ed Frazier, Leroy Mc-/ 56 8. Tremont St. Property
used plants. The Army, Navy, Alf with pay checks—will have as by the Edsel firm. Force and Munitions Board have much money as before, with) Mr, Hamner handled the chain Mr. and Mrs. Henry Slick to Mr. some standby plants which can which to buy goods. That's in-| transaction, helping Mr. and Mrs and Mrs. Walter E. Whitehead; be operated. Likewise some pri-/flation. The money supply gets 8. B. Johnson sell a dwelling at] 1513-15 E. Tabor St, Mr. and|
vate companies have excesstoo big for the goods supply./1705 N. Delaware St. and pur- Mrs. H. A. Nally to Mrs, Vera Weekly turnover
Week in Stocks
Among properties were business buildings, a cross-sale and | bound.
Shake to Mr. and Mrs, Preston /tarily when President Truman's ago. Salesmen A. W. Cobb. Ray ha address to Congress was read on cheaper by 50 cents to $2 and pounds down to $21. {Wednesday, but it quickly re- hogs were mostly 25 cents lower.| at 58 8. Tremont St [Sumed the rise as tne war babies; Sharply curtailed off-the-farm| from civillan supplies, while, at/ and Sales Manager Orval Guess was sold by Mr. and Mrs, H. E.|—Talls, aircrafts, rail equipments, Shipments kept hog prices from n,n T FOUR. Utilize idle or under- ;;, omg time, eivillans—workers all had a hand in activity spurred Lee to Mr. and Mrs. J. H. Duke; Steels, oils and heavy machinery 80ing down well beyond 25 cents.| ip,
{ Victory Terrace (Venroy Road), lssues—took over.
730 E. 52d St, A cross-transaction between Ralph B. Coble of the Frederick B. Cline Co. and William F. Boyd of the Jack C. Carr Co. brought new owners to this four-bedroom house late last month, Seller was Claude M. Record of Allison, Steinhart & Record, grain brokers, Buyers were Dr. and Mrs, Howard T. Craven.
Strength Sustains All Other Sections
(Continued from Page $5) of the Korean War.
Siaughter
Trading Active
Trading was active with the Prices. at 11,744,213
; of last we go plants. Likewise, there are some We're once again in a scarcity chase a house at 3834 Ruckle St. A. Flaningan; Smith's Valley, Mr, Shares—a dally average of 2,348-| Of last week when a rush of hogs
machine tools stored away. economy.
y President Truman must now Truman's Two Lines hold two lines: The battle line in Korea and the price line in the United States, His program, to e that purpose, divides into two parts:
Ruckle 8t. house. Cross-Sale
{John Sampson to Mr, and Mrs.| “* L. A. Ballard. The cross-sale involved a prop-|
4 asked Congress for authority to institute priorities, allocate mate-
of goods which consume critical materials, and requisition exces. Ply. sive inventories. |. Most important, the Treasury This function may be lodged Department is at work on a tax initially with the Department of bill, to raise money to pay for "Commerce, but ultimately, as the the increased defense expendiE , war effort expands, a special/tures, but also to prevent an agency may be set up, staffed by undue expansion of bank deposits men directly from industry who arising from increased governspeak one another's language ment spending. Higher taxes will be directed rimarily at corporations, so as The President also has asked to Timit. these De . This is a for authosty to make production yay of keeping prices down, « loans Corporations ~~ business men— dn war work. Since most cOM-\ywi1' peagon: Why boost prices panies are well heeled with cash, ang fneur public fll will when the profit will be siphoned off by higher taxes anyway? : y the President has!sona) ‘income taxes seems reason: o Federal Housing Ad ghle—to restrict consumer buying | Ey Vidranaly, a tight market. Coincidenone betel tally, Secretady of the Treasury fa Re Be me FO boning ror 5 ig i oon bonds, which also will drain off ontege Fever as buying poser, o @ program, man has ordered all federal These measures focus on curb-|A8encies to cut out any spending ing credit, which creates pur- not urgent, so as to reduce comchasing power and pumps up the Petition for manpower and mademand for goods. terials, They make it more difficult for, But, if prices rise despite alll people to buy homes, automo- these measures, Mr. Truman re biles, television sets and so on, serves the right to ask for auhence indirectly curb consump-ithority to institute price control tion of steel, copper, lumber and 'and rationing. For the United States, this!
action.
10th St. were purchased by nell; 4223 Norwaldo, Mr. and Mrs. George Karas from J, P. Meek Willlam H, George to James C. in the Edsel business property! Perkins, sale of the month, L Report Completed Other sales Included property:
Woodford to Clarence | Smith's Valley, Mr. and Mrs. A. lier St, Mr. and Mrs. J. R. Delkin R, Cossell to Mr. and Mrs, Theo-| to Mrs. Minnie C. Carson, and
|
{week gained 7.82 points, almost]
loss of 1.95 points,
The report was completed with sharply, at 4156 College Ave. sold by Mr. sales of 820 Lord St. by Mrs, grade issues. and Mrs. M. E. Lantz to Mr, and Blanche M. Karas to Mrs. Mamie ished the week at 69.30 u Mrs. C. B. McClay; 3114 BE. South-| D, Paxton; 5045 E. 12th St, Mr. points and second grade rail to 5 cents andr ern Ave, Mr, and Mrs, J. H. and Mrs. Noble G. Smith to Mr,/bonds closed at 92.40, up 2.46 Scott; and Mrs. M, G. Walke; 3301 Col- points,
dore McAninch; 549 8. Trow- property in Waverly, Ind, Mrs. on the week despite threats of to the 10-cent top limit. bridge St, Mr. and Mrs. D. R. Ella Ross to Mr. and Mrs. H. E. clamping down on credit for i ; - [commodity speculation.
A Small Businessmen j To Attend Seminar
I proximately 100 small businessmen will attend the third annual] management seminar for smaller | {business at the University of .Chi- |r tel cago July 24 through 28 | : announced today.
for businessmen who wish to improve their ability to plan their| business, viewpoint on management prob-| lems and to appraise the signifi-| cance of changes in the level of|
{842 shares. Last week the vol-| {Glenn D, Crawford bought the and Mrs, Chileen Doty to Mr, ! . Delaware St. residence and Mr. and Mrs. V. R. Shafer, and 5810-| FN was 123% Soe 3 inares, and All-Out Buying and Mrs, R. E. Waldo sold the 12 Lowell Ave, Mr. and Mrs. [Gally average 2,002,110 shares,
The industrial average
wis Ups Wheat Prices
this
Rail Bonds Gain | long time,
Railroad bonds also gained and especially the
inflation fears, lower-| heavy in other grains.
All
early 2 points. Commodities
| season.
gained sharply]
General
| inflation due to high war costs.
| ROTARY TO HEAR JACKSON {(UP)—Ap-| Clarence A. Jackson, executive [Vics president, Indiana State Chamber of Commerce, will ad-
CHICAGO, July 22
{dress the Tuesday luncheon of the Rotary Club in the Claypool it was His topic is “Taxation of h: 11 Wa, | Co-operatives.”
The summer seminar is geared |
to acquire a broader]
No Glass-Case Army is either the beginning or the beginnig of the end of World War III. Mr. Truman has demon-| stated to the Kremlin that he is the commander-in-chief of a fight-| ing, not a glass-case army. He has risked it in battle. More, he has|
now declared that the country will risk the dislocations and shortthe Bardsnlp-DF oa A -| purchased by Mr. and Mrs. S. B. Johnson from Mr. and Mrs. R. E.
war effort. It" to Stalin to weapons, out of a defense pro- | Waldo. Mrs, Johnson is associated with the Indiana Bell Telephone cide what's — R Yo gram of $15 billion, amount te | C0. Mr. Wald& with Fletcher Trust Co. Ray Hamner handled the | The drain on the U. 8. econ- | only about $5 or $6 million. So | $3. part of a "chain" deal involving the Johnsons. |
oar totale, | the minimum impact of war 9 poo] Estate Brokers [No Moving Parts.
dollar totals. \ . : "The $10 billion reljuest is only demand on the durable-goods ‘ ltor’ Because there are no blowers, Industries is 100 per cent. Get ‘Realtor’ Status motors, or other moving parts, up-|
a» start. What's more, most of : ) . it—say 60 per cent at a mini- | That explains the rush to buy| Two more real estate brokers keep costs on convectors are prac-|
Sale of this dwelling at 3834 Ruckle St. was high ameng transactions completed by the Edsel Co. during June. The house was
panicky ship by board directors. ‘ should mark this: When the = ar { last war broke out, millions of Americans were unemployed. $ a economy was geared to the low buying power of the : period.
: Then when people were re-employed and buying power shot {up. the Increased demand for = i i sugar, meat, butter, etc. was|® 8 vaat increase in the working MBA Plans Study | ; above the capacity of manufac. POPUIation. i ” pl { turers and Ty Btorekaopars Hence, the pell-iell rusn for Of Loan Efficiency | hy { didn’t have the necessary stocks.| 20d: Which will probably spoil
num — will go directly for tires, the jump in premiums on!added “realtor” to their sales tically nonexistent, They utilize NEW YORK , planes, tanks, ships, guns, am- passenger cars, the upsurge in de- signatures last week. natural convection to circulate . 7 { munition, trucks, the kind of mand for farm equipment, But it Having successfully passed VA'm air through rooms in a INDIANAPOLIS a, { Muff that takes steel, copper, |doesn’t explain the rush of house- their Real Estate Board ex-(S°ntle, draftiess current. KANSAS CITY FREE Demonstra. { rubber and other materials. {wives for sugar, canned goods, amination for active status, Don-! LY INSECTICID HEATING \ ! Our present SPRAY INSECTICIDES | jj BRar tion at ; nt expenditures for nylons, ete. ald R. Hueber and J. Perry Meek! yiquid insecticides may be : i > : were accepted for active member o raved fr sprinkli cans Servin Am rican Industr : Women h praye. om Sp ng . g ® y {Word to the Women Who, ire | BOLLS FURNACE (0.
Simply wash out the cans after Mr, Heuber, son of Realtor R. .ach use. 3 EF. Hueher is associated with the — ee
A. J. Hueber Co., while Mr. Meek is with the Bruce Savage Co. | CONTINENTAL
> >
Studies to increase sfficiency in! LAWN and 3 i Farmers weren't ready to take/in Kitchen closets or damp cel- servicing mortgage loans will be INDUSTRIAL ~ jeare of the increased effective] M0. SCSIMY & Misuse of money,imads by the Mortgage Bankers I i rietime Property { demand. Factories couldn't get ®PeFEY. and resources. Association of America. Protection
! materials, i — — 4 In 1880, however, wholesale Capehart Appoints i : re t w 3 : E hent consumption. + ** “12 Regional Chiefs Lan concerns are| FT. WAYNE, July 22 (UP) 10 keep pace with civilian Capehart-Farnsworth Corp, today 2 ments for dresses, sults, announced the appointment of ge hy 00 Charles ¥. Gill as manager of the
RISES are meeting not only Washington region, and James D. IA country, [ok 00d, but also Walker as manager of the Detroit
“apehart-Farnsworth is a sub- | sidiary of the International Telephone and Telegraph Corp.
Organization of the new division was announced last week! by Association President R. O. Deming Jr.
Materials or Erection
Free 2 erms Ri. 4275126 Russell Ave. Nights snd Sunday, TA lbet 8503
a_i hi EP
Vince. 1 Sy - tht. woesise Liny
WE HAVE ROOFING
F. J. SIENER LUMBER (CO.
= Now York St. Il 3175. state se. ara |
businéss activity, the announce-| Shows You ment said. | | THE DIFFERENCE OT V3; on HIGH «x0 LOW eressons
CALL LI, 3377 ForPree |
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Soybean months Friday rallied buying followed reports that American forces in | Korea had been pushed out of { Taejon, It mounted on fears of
Rails Dominate Live Pork, Beef Prices Fall Off Despite Korea
{ CHICAGO, July 22 (UP)—The from producers forced the market {prices of pork and beef on-the- down a dollar from a 21-month thoof at Chicago stockyards fell peak of $25.40 a hundred pounds, {off farther this week than any a rise representative of some war{similar period since the outbreak seare buying.
| The only animals here that $24.50, well down from a high That was seen as a technical re- made money were some native paid for hogs Monday of $25. {spring and old crop lambs that Most good and choice 180 to 230 The market faltered momen- sold 50 cents higher than a week pound butchers changed hands at cattle were $21.75 to $23.75 with those to 300
|The scarcity offset a wholesale week! {pork demand which refused to go! ‘along with more spurts in lve
| |
The situation was the reverse,
|
|
| in, d luded eliminating last week's decline.| CACO, 38) 2: UP)-An : Other dwell sold included eliminatin week's .iall-out bu ONE. Implementation of war production. The President has ,.'s\ 317 8, East St. Mr. and 2113 W. Walnut St. by Mr, and The rail average added 5.08 futures u I hn Mrs. J, V, Landers sold this resi-| Mrs, H. M. Sullivan to Mr. and, points to last week's gain of 2.09) this wee rials, place ceilings on production other commodities In short sup- dence to Mr. and Mrs, J. Mc- Mrs. J. T. Harrison; 1206 Cruft points. Utilities gained 32 cents the { Hugh. The Jack C. Carr Co. was| St, Mr. and Mrs. C. E. Morris/this week and lost 2.58 points | the other half of the split-trans- fo Mrs. Thelma Richardson; 1009 last week. The general average foray Friday sent July wheat few if any left over, | Wright St, Mr. and Mrs, P. J..gained 3.37 points Five storerooms at 4125 FE. Williams to Mrs, Elizabeth O'Don- more than wiping out last week's closest any wheat contract has {come to the 10-cent daily limit in|
week, spiraling up 7 cents a bushel, the|
Buying, prompted by the war|/lambs at $27.50. That was the! also was week's top, up fully a dollar from| For the the { Income rails fin- five market days ended Friday,
|
p 3 fulllcorn was up 2 cents, oats up 3|Californias to Chicago this sea-| ye up 4 to 5 cents.|son. Most of the week’s offerings! deliveries of wheat and were good and choice natives First ralls finished up corn reached new highs for the which brought $26 to $27 with
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131 Hoss Road This two-bedroom suburban dwelling was purchased two weeks ago by Herman E. Blanchard, clerk with the U. 8. Post
Officé here. Mr. and Mrs. Robert Sherfield sold their home through Oral L. Price of Price Realty Co, Mr, Sherfield is associated with Eli Lilly & Co. 2
4 Brokers Join ‘Hamilton Realtors
The newly-born Hamilton County Board of Realtors took its first steps last week. Besides adding four brokers to the membership roster, the Board acted to name delegates to the annual convention of the Indie ana Real Estate Association. Delegates will be named’ for the French Lick parley at the Aug. 21 meeting, President Thome as A. McGinty said yesterday. He said new members admitted were Marion Whitsell of Cicero, All cattle were under pressure ar § Parr of Sheridan, Meld which showed up most in com- Compton of Carmel! and Marion and medium grass steers sired of Noblesville, gave up $1 to 52 of last| yr. Aldred was also elected ta
8 prices. Feed steers, year- iy, executive board of directors lings and heifers were 50 cents ‘of the group.
to $1.25 lower. ! Cows, which formed a 00d keg of the Anderson (Ind) Banke percentage of receipts, sold down ing Co. spoke on membership
50 cents to $1 while bulls dropped as far as $1.50. The only strong| 10aliAcations at the board meet
class was vealers. Stockers and|
feeders wars. steady. NEWARK DOUBLES PACE Clearance Fair |
This week's closing top was
A feature of the sheep trade; Friday was the sale of three decks of choice 103pound lowa-| fed, California-bred short spring
|
Friday high last week. { It was the first shipment of|
buck lambs discounted a dollar.
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State Commissioner A. L. Mo«
NEWARK, N. J.—Housing cons After price concessions by sel- struction in Newark last year was ying attack swept wheat lers, clearance usually was fair double the amount started im Pp 10 to 12 cents a bushel enough. Most good and choice fed 1948. kK, its sharpest advance of steers and yearlings went out at) year on the Board of Trade. $30 to $32. Medium to low-good | Climaxing the rise, a buying steers closed at $25 to $28.75 with
= Bost RF Donne ose |
SA Ra Ll SAEs EARERE ase a
»
4
{Contin
home build The Nat Real Esta President T a different
THROUG executive v realtors pl operation t
* ment in re:
That's in c: Mr. Nels tive aid dur said ‘We better.” Realtors ment locate war worker trial plant important, out the wai The exec pledged co. ans' organi program tl son called { in the fing his home.”
BUT EV Truman ca credit, builc ing from F other NAH
He said the Korea: all-out pro Mr. Cor told build major ¢ rheans no er constr could be st but housin; under way probably b mitted | completed minimum ‘Mate would un edly be al ed on a p rigid rest: controls w said. Mr. Co “minimum rigid gove: migrant w tary perso And in “temporary ing faciliti
shelter of
ing... tral even tent quired, he
HERE | where boo the indust were knoc before the “We cot faster ever
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