Indianapolis Times, Indianapolis, Marion County, 15 October 1950 — Page 46

Business Outlook— : "Nation Fearful Of Living Costs

‘Rail Unions Demand Increases

To Beat Possible Wage Freeze

By J. A. LIVINGSTON DO YOU REMEMBER the story of the man who almost broke into tears when told by his boss that he was getting a fat raise? «*What's wrong?” asked the boss, “you don’t seem to like it.” The man answered sadly: “Now my wife will double her allow-| ance and I'll have less spending money than ever before.” That just about sums up the economic state of the union.

Prosperity has gone 10 our feet.) ~—— mrs em———————— prices, Thus, the rail labor unions have

ditte profits. Although personal pilijon-dollar-a-year demand for income in the United States has wage boosts. They want to beat | just climbed .to an all-time high,'a possible wage freeze. They want | apprehension is everywhere. Peo- protection against rising living!

ple are trying desperately to costs. Philip Murray's United . a hedge against the very thing that Steelworkers has started negoti-| Resltor W. N. Waltermire helped Mr. and Mrs. Rudolph

makes them prosperous —— infla- ations with the steel companies, Grundner sell their twe.bedroom house to Mr. and Mrs, John 6. tion. They fear more will be less. And so it goes. Labor wants it. Smith late last month. Sale of the residence at 3019 E. 13th St.

Strong fo 25 Cents Higher During Week "| CHICAGO, Oct. 14 (UP)—Most ; classes of livestock mod-

an early decline on slaughter steers, yearlings and heifers was 5 reinstated and the market closed y ; strong to 25 cents higher—except

Before Mr. and Mrs. Robert J. Musller moved fo Chicage, their two-bedroom house at 6950 [medium to low-good weighty

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Oak Lane_in Arden was purchased by Mr, and Mrs. John ©. West. The transaction was closed | odium steers and heifers which

4 was completed Sept. 20. Mr. Grundner is associated with Rail. Sept. 29 with Jack Clayton of Edgar Brodbeck Realty and Fred C. Tucker Jr. of the F. C. Tucker [closed 50 cents to $1.00 lower. Farmer's in There , Too The farmer, of course, I8| .o, men's Federal Savings & Loan Association and Mr. Smith is Co. co-operating. Mr. Mueller is associated with ny and ¥ insurance Co. while Mr. West is vice- lls worn steady to 50 cents

nicely cushioned by provis- : fons in the Defense Production Act, which specify that any price with P. R, Mallery Co. fréeze must protect his parity position. If industrial prices go up. » support prices for agricultural commodities must follow. This is not unlike the protection that General Motors and their workers now . | e es

have: the : COB. Of HVING|——or ceremonies - have: When ins cos wages and taxes to keep ts|

oes up, wages follow. . : 89 Consequence: A rise in living {equipment up to date and to at-| ! costs automatically lifts wages, |Lract new capital, ; | op As ‘wages rise, prices of indus- Were steel prices to go up, the trial goods—the things farmers |industry would be merely. follow-| A buy—must increase. ing shoe, textile, clothing, oil and Week Ranks With Then, ultimately, support other industries. Hi h Ten of Y r prices will be set and that will | Yet profits of corporations have g ed | push up the cost of living some [just climbed to an all-time high.| Property sales reports last week more. And so It goes—on and | The President's Council of Eco- '¢Mained among the top ten of that in the year for Associated North Side Realtors. |

up. nomic Advisers estimates Corporations want protection the third quarter U. 8. corporation too. Ben Moreell, president of income after taxes ran at an an- The 37 brokers reported sales Jones & Laughlin Steel Corp., has/nual rate of $23.2 billion dollars, °f 48 properties valued at more declared that the steel industry as compared with $20.5 killion in than $521.000. Average sale topought to raise prices because the second quarter and $17.3 bil Ped $10.800. mirroring earlier quotations are ‘‘far below parity lion in the third quarter of 1949, transaction figures. with other industrial prices.” These record profits show up in| There were six lots for residenHe argues that unless prices are record dividends, which are run- tial construction and one indus-| boosted, profits will be cut, and ning 7 per cent higher than last trial site listed on the report for the steel industry will not have year and about 40 per cent higher the week ending Oct. 7. i enqugh set-aside after rising'than in 1029, | ~ Sales were reported at the an-

lower; vealers steady; stockers and feeders 50 cents lower, but closed moderately active at the decline. { The bull of good and choice fed steers and yearlings brought i $28.50 to $32.25 a hundred pounds, and a moderate supply of choice

president of the Lone Star Cement Corp. ' higher; cows steady to 25 cents

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$33.50, and two loads at $33.75. Two loads of high-choice 1025pound heifers changed hands at $31.50, and medium to choice vealers at $27 to $34. Three loads of choice 600-pound yearlings {went at $31.50. " Barrows and gilts closed $1.00 { higher, and sows 75 cents to $1.00 | higher. These hog prices, inciJ | dentally, advanced on the small- | est week's receipts of the market|ing season, and the week's closing | prices were the highest since late | September.

Ea THUS USL

£5 Rs i rE > nual dinner given by the out-go-| This neat three-bedroom house at 205! Sharon Ave. topped Mr. and Mrs. Samuel W. Arnett took this four-bedroom house | Rectipts were comprised mainly

* * Such high : - iat . P : ' Afraid of Profits uch high Profits are not configence. ing Assopiation chairman us current realty sales by the A. K. Carnine Realty Co. The house off the brisk real estate market last month. They purchased this |. 00010 240-pound butchers with

inspiring. Yes, common stocks have President Joseph Argus and th just pushed through to new highs for the year. According to Dow American Estate Co. -’ere hosts

was purchased last month by Mr. and Mrs. Chester A. Cly from house at 3531 Forest Manor from Mr. and Mrs. Lester F. Groth. 5 requced proportion under 200

theorists, we're very much In a bull market. Yet, speculators and for the meeting Monday | Mr. and Mrs. Joseph O. Mack. Mr. Cly is associated with the M. R. Davis of the Walt Veen Co. helped complete the sale. Mr. pounds ‘and increaging numbers investors don't seem to have faith in it. | The report, submitted by Chair-| Texas Co. (gasoline). The Clys are from Brookville, Ind. Sale was Groth is a Shortridge High School teacher and Mr. Arnett is with over 230 pounds. $3000 | The week's top o 0. was

, You can buy top-grade common stocks like General Motors, man Warren M. Atkinson and, closed Sept 16 United States Steel, duPont, — ——|8ecretary C. Scott Padget to the] ———— ~*~" —

Afchison, Topeka & Santa Fe to ot down to half that-—3.16 per Real Estate Board, listed the fol-| % on yield anywhere from 5 to 8 per cent. [lowing transactions: | ul ng e 4

L.. Hilily Co.

Siren: ren ——————— paid’ at yesterday's close, with

Controls [Grain Prices Off In Slow Trade [Shoice 333 fo 36D pound weights

me Standard & Poor's Index tlt A retard | Willis Aduns—10t 4t 75th Bt; . CHICAGO, Oct’ 14 (UP) — influence,” the commodity letter and choice 200 to 280-pound gmmon stoc [Jha Seting. NI Re. | 1 Oo Have M nol [P@ [Grain futures declined irregularly contended. “The critical | weights closed at $20.00 to $20.50, cammon stock yields shows a re-'cent. In 1920 they returned| J i rain futures declined irregularly . e critical storage : | Butterworth & Teeters—8201 ec e £ in a comparatively slow trade at situation . . . was reflected in 35g 179 to 200 pounds at $19.25

turn of about 6'5 per cent. Yetiabout 5 per cent. The preference | bck in 1929, when people had then was for.common stocks as afShelewood with He Jack oar] misfounded faith in the future, ticket to future prosperity, the| _ "° : : inthe New Era—when they were preference today is for preferred willing to sepeculate—the yield stocks for steadiness of income:

wood Ave. 7231 Lafayette Rd.,| 1961 N. DeQuincy St. 2307 E. Down Payments Change FHA 65th St, 5613 N. Victoria Dr. The new sliding scale on down ,, 4

(Continued from Page 45) |under present laws compared the Board of Trade this week. lower cash premiums. |. Sows weighing 400 pounds and Jack C. Carr—3626-28 Birch-|datory what has been the seiiing with those under new regulations:| Compared to last Saturday's’ “This storage situation is likely under brought mostly $18.75 to y 3 practice here for several monhts.| (Present down payments under giose, wheat yesterday ended 7 to become more critical as the $19.75, with 300 to 500-pound

and VA programs are based to 27% cents a bushél lower; corn corn and soybe s | weights cashing in at $17.75 to > . ybean harvests begin $19.00 and a few heavier weights

property's appraised value, 5 higher to 14 lower; oats % to. ,. the wheat éxport demand is down to $16.75.

“ UTI ALL ! : . _ Denny payments range from 5 per cent |, ’ ) H CA ON INW STREET Ce 233 Wh Se XN. Denny veterans on houses worth less panne the Rew dows PLYWENIS Ft th lower; rye 13% to 113 lower; somewhat pitiful and . . . do- ah int Te 3 i Common stock yields outrun preferred yields. 'E.11th St. and 3041 Boulevard PL. than $3000 to 50 per cent for NON- | There has been no set down pay. "°Ybeans 3 to 6 lower, and lard mestic users of flour have rather Guild will Sponsor i = Are investors unsure of high dividends? | Driscoll Realty Co.—338 Con- G's on houses worth $25,000 0F iments on conventionally financed 10 to 30 points a pound lower. |well filled themselves up for the " 5 18 8 | gress Ave. (MOTE. ample. on a house ap. TCTS88es in the past) | Trade advises indicated the near term.” = Supper Tuesday at 5 : Fieber & Reilly—Industrial site. 'n..1509 at $7000, the old VA reg- p.. Sid PAs od market adopted a walting atti-) gorn futures resisted the gen-| St. Francis Hospital Guild will 80 by 500 feet, at Palmer St. and yiation required at least $350 3 fio SHA, Cound (VAL VA tude, with national and interna- ora) tendency for prices to de- sponsor a spaghetti supper Tues. Madison Ave. down. Now it requires on the 3% 4% 400 i 38 tional news seeming to have little o;ina more than any other grain./day from 5 to 7 p.m. in the dining | A. H. M. Graves Inc.—5020 Car-/same house $500. In the iocal 5200 0 00 3% ae inydnce one way or the mis apparently resulted in partiroom at the hospital. lvel Ave. 4627-20 Caroline Ave.'market, this house has always re- 1008 10 1350 100 200° er on prices. (from a government crop report An old-world secret recipe will and 3318 Tacoma Ave. |quired at least $450 down through-| 10988 ii 3 198 A commission house, “however, which indicated that total farm be used. in preparing the supper. | Gerdenich Realty Co.—5811 W. out the year. i if 3000 31 8 1800 expressed a definite opinion in its supplies are not exdessive—par- Chefs will be Mrs, Gus Caito, Mrs, {71st St. and 209 Washington St.| On FHA and conventional } 3% 2 %e 1380 | Weekly commodity letter as to thelticularly in view of a heavy feed Mike Rizzo, Mrs. Nunzio Mazza, | Hall-Hottel Co.—214 N. David-'loans, the down payment increase ib I “unsettling” influence in the|demand, as one trade opinion Mrs. Charles Navarra and Mrs. 03 1000 wheat market. pointed out, and the loan price Charles Peoni. Mrs. John O'Con-

| Boulevard Pl. ‘home-hunter, builders contended. Fred T. Hill—102 W. 44th St. * Private Levels Conservative | | F. M. Knight Realty Co.~837 what will also help buyers will English Ave. |be appraisal of houses on today's] ’ John Lookabill—1101 Livings- market value. FHA has lifted the’ g/ton Ave, 1105 Livingston Ave.[This obligated purchasers to pay.

Fears persist that thi ABad Case of Maybes pdb 3 is false or tran- 1841 N. Euclid Ave, 8487 Birch-july 1 construction cost ‘reeze.’

sitory. Maybe the Federal Reserve curbs on credit, on housing, onjWood Ave. and 1917 N. Euclid more down because of increased Ave. building costs.

ingt#liment buying, will produce a business setback. . : { Maybe allocation of steel, rubber, and other short materials willl John Max — 5812 Washington, VA is also expected to loosen i Blvd. : appraisals to a new cost date,

cause some husinesses to lose money. Maybe post-Korean anticipa- Harry L. Robbins Realty Co.— probably Oct. 12, tory. buying will back up and re-| price advances. That makes for Lot in the 8100 block N. Meri-| Both government Insuring

i a . - .

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swlbidn a price shake-out. Maybe disinflation. |dian 8t. its Bat agencies Buns £30 permit appl. dnsfimers are overstocked and Brice Savage Co.—1425 E. 81s $ committments prior! can ers But it hardly makes for peace St 2924 N. Station St. and lot/to Oct. 12 to fall under the old!

re sales will slump. lof mind. i ’ Fa oa higher gy with more| If the government succeeds in 27 in Forest View Estates in co- Tegulations. That'll: help those! tdl.éome next year, will take a big checking a price-wage spiral, the operation with Walt Veon Co. |whose home purchase or building slice out of profits. ° immediate question will be: Does| The Spann Co. Ine.—735 N. Was pending when the controls) { Two forces are at work. The that mean a slump? {Park Ave. came au. : government is expanding Its | And if inflation persists, you Walt Veon Realty Co.—3530 E.| Covers New Housing defense program when mate- and I-—the worker, the farmer, 34th St, 6208 Crittenden Ave. The regulation, known as "X.” Hials are short, labor “scarce the businessman, and the invest- 3005-7 Graceland Ave, 8101 Rose- will apply to all new housing! and plants are working at ca- [or—-will want to protect ourselves meade Lane, 3226 College Ave, started after noon of Aug. 3 pacity. That makes for infla- against it. lot 237 in Northdale addition, lot where the mortgage is not issued tion. | It's hard to be relaxed when 13 in Forest View Estates and!by the government. * At the same time the govern- you always have your economic/lot at 116th St. and College Ave.! FHA and VA rules apply to all, ment, through credit controls, [guard up—trying to fend off. Robert E. Walker — 1437 W. housing, regardless when it was priorities, and higher taxes, is [some hidden blow, to Your se- 35th St. tbuilt, with exceptions up to Oct. trying to curb demand and curity. Ford V. Woods Co.—321 8.12. AE wee ; Woodrow Ave. 821 S. Addison ~ But private financing on exist-

: Ea Eg ing properties won't predominate’ Off t. d 3019 Graceland Ave, ’ Johnson Buys er Substitutes I he yasean ah {the lending’ market. Private

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i . TH. {lenders are more conservative In Steel Shortages Builders ive |than the government mortgageC A Times Suioial | insurance program.. Their loans : { , : nm 5 are usually from 60 to 80 per cent oons gency | BAN FRANCISCO, Oct. 14-—Use, . . : of their appraisal, always con- . of lightweight aggregates and [e it IeWS - |siderably less than selling price. ‘Rental management of the R. metal lath might be the answer] : Table of Requirements

W. Coons Agency was officially } | tie to steel shortages in construction | (Continued from Page 45) The following table shows

transferred to The Johnson Agency here last week. of office and Institutional build- $0000, 20 In $12,500-818,750 {housing down payments required

"The new agency purchased the Ine. | range this year. : : . agement Dherations apd. the or ateriais could save “Materials will hurt ‘us’ more Builders Plan Quick | Cbons uilding 4. h tons of structural steel an- than regulations. But we ma ’ A : sid at .2127 N. Me- nually if used ‘properly. “| get Hai materials" from the Repairs After A-Bomb | ridian St. last That's the prediction of D. R.| southern ‘no down payment’ | CHICAGO—If an atom bomb | Jgne, but the or- . (Wadle, commissioner of the Metal areas. We'll go ahead with our {should ever hit this city, construc- | ganization shift : ft [Lath Manufacturers Association same program with new de- [tion men...including home build-| was completed of Cleveland, O. He based his es-| signs next year"—-John Bauer, [ers will move into the blast area | lpst week, timates on the amount of build-| president of A. B. C. Construc- [Within 45 minutes, according to ings constructed last year with! tion Co., builder of 150 Louses jpresent plans of Chicago civil steel. : in $9000-$10,000 range this year, defense groups. = \ Promotion of these lightweight, “We'll build as many. houses.| The construction men will con[building materials was stressed as we can as long As we're re- Stitute a “special equipment dibefore the Contracting Plasterers, ceiving the . product and the |Vision” and will supervise ima {International Association meeting, buyer”—Bill Jennings, J. & L, /mediate building repairs. Equipyears ago, will ' Mr. Johnson {here last week. 3 | Realty Corp., builder of 60 pre- {rent will include earth moving | | | fabricated National Homes this machines, cranes, bulldozers,

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ofuniinue broket. lapping + “ Order non yéar in $6900-$8000 range. {trucks and hoists. age sales here besides suning to NYC Orders 7000 TO EO TE (ip | S———— investigate property development) . : | y is Florida this winter. ‘More Freight Cars . | sughtly, but as long as our | CONVERT 10 ORL

He hax continued realty sales’ NEW YORK, Oct. 14 (UP) house is In demand we'll be | and aided Mr. Johnson in the new The New York Central System building them” — Good Homes, |

ofganization for the past five today announced that it has or. Inc., builders of 150 Gunnison |} NOW TR ATI Te

months. dered another 7000 new freight Pre-fabricated homes this year § WR + Joins Coons Agency cars at an gstimated cost of $38.- n_$1300-53000 range. : I ¥ he i] | : 100,000. . ” | With Jr, Johnson has been assoch 4 44, same time the carrier Socony Hits Second ig - WALL- FLAME BURNER

ated with real estate and rental ,nnounced that it has ina ps : : a operations in Virginia for more rated a 53-hoyr work week vay. Strike in Mexica Gulf . tifa 20 years. Since moving hereof its own mijor freight car re- | 86cony-Vacuum oil Co., Inc. tosix years ago, he was connected Pair shops. [day announced the discovery of! with trade magazine publication Making the announcement, Gus-/a second oil well in the Gulf ” :

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i tav Metzman, president, said “the Mexico. afd this summer joined the Coons|opirays extensive program for| Discovery was made by MagA ans to add his own brok.| the acquisition of new freight cars nolia Petroleum Co. an afliate Pp py in his new DAS been expanded further in an- of Socony, and the Continental) " tions ticipation of a continuance of the Newmont Oil Companies, joint "Coons has been in real Present high level of business developers of the well, the an-f : ns since 1932 when 2CUVILY and freight traffic.” noupcement said. férmed the management end MORE NEGRO HOUSING fF the City Securities Corp. MEMPHIS, Tenn. —Through the | REMODELING iFive years later he purchased combined efforts of private home Roofing — Siding 2 All Types of Carpenter work SPIVEY BROS. . St. RL 1442

554 W

son St, and 3518 W. Michigan St.|is a little tougher. But not enough| 33.00 - : Be Norman L. Hammer 5151'to drain off that price range more a a 310060 Juarantes mortgsses of wheat situation was a primaryicorn futures. ‘by Miss Olivia Weimer. i

WEBBER | NOTICE! OPEN

2740 Madison Tel. ID.0492

11.000 30% 5% %| “Growing weakness in the cash being over the price of cash and nell is acting chairman, assisted

ARE DIFFERENT

ONLY THE

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* i Day MAMEACTIARES Till 9:00 P. M.

ge Night Direct from ; ! * No Defrosting WILL BE PLACED | en * 52" of Insulation : ON ALL FREEZERS {i CONVENIENT

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COME IN! Sai ial Ts vai oan

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