Indianapolis Times, Indianapolis, Marion County, 31 December 1950 — Page 28

REE

-and utilities,

Holiday, Snow

Year fo

(Continued From Page 27) ¢lubs: “All work, low pay.” ‘Profits will be down noticeab in 1951. s Stockholders will feel the effects. Corporation directors, who have been so liberal in the last half-year splitting stocks, boosting dividends, and voting extras, will become more congervative., Disbursements in 1951 will probably be 5 per cent lower than in 1950-—at a minimum.” ft ee Other specific prospects are:

Productivity The conversion from civilian to defense production will result in reduced output per work-

Bring Curbs,

| Highe r Taxes, Dislocations

is the tipoff. New orders are more than friple a year ago and ‘have been running 12 times shipments, Foreign orders, as we supply factories in Great Britain“and France, are likely . to pick up along with domestic business. Freight car and locomotive demand is alse. up sharply. : :

Civilian Hard Goods

The trend is down, especially in automobiles. ” : : If America is the Arsenal of Democracy, Detroit is the Arsenal of America. As against: an 8 million car-and-truck year in 1950+ highest ever——production is likely to slip to 4.5 million.

er, especially since the enlistment of manpower in the armed forces will reduce the supply of trained personnel in’ industry. Women will be re-enticed into war plants, older and retired persons will also be sought after. Longer work shifts also “will result in decreased output per worker hour,

Labor :

Wages will creep up, -under the cost-of-living contracts now in force in the automobile in- | dustry and “sanctified” by Presidential Assistant John R. Steelman in mediating the dispute in the railroad industry. But spectacular increases are unlikely now that the fifth round of postwar wage increases is out of the way—In autos, steel, otc. Big IF: John L. Lewis. He'll undoubtedly try to upset any pattern when he negotiates a contract or or before Apr. 1, He'll be in a strategic spot. Coal is in demand, so he'll be able to headlock the nation at a time of international tension.

Farm Income Agricultural prices have started up again. Though costs of fencing, fertilizer, and other items farmers buy also will be up, the heightened worldwide demand for. commodities. of all kinds will more than compensate. Net farm Income in 1851 might run 15 per cent ahead of 1950, or around $1.3 billion, The alltime high was $17.8 billion .in "47. Farmers will have a hard time getting help, especially in the spring and harvest seasons. Not only will the armed forces draw off manpower, but so will factories in urban areas. To encourage farmers to increase food production and yet to keep down the cost of living £0 as to avert wage boosts, Congress may vote food subsidies. This policy has been followed in England ever since the war. Theory: It's cheaper for the government to subsidize the cost of living than to permit cost-of-living wage increases to raise prices of planes, tanks, ete. :

‘In trucks, the trend will be toward heavier vehicles, to meet Army requirements for weapons carrires and miscellaneous transport. Shipbuilding Another boom is under way, as vessels are required (1) to supply the 55-division army contemplated for Western Europe and (2) to bring raw materials —coffee, iron ore, tin, rubber, ete. — from non - Communist

$12 Billion Mark

This two-bedroom dwelling at 422 Rd, wacpurchussd Norwian L, Hamner negotiated by Mrs. Pauline Linthicum last month in a fransaction negotiated bungalow at 4224 N.. Capitol Ave. Selon were two sisters, Miss by Harry Ray. Mr. and Mrs. W. O. Eakin were the sellers. Mr. Grace Hastings and Miss Ida Hastings. Buyers were Mr. and Mrs.

ry Eakin is with the Indianapolis Top and Body Co, - Joseph F. Band

or. Li © 244143 E. 16th St.

Construction Tops

Times Special

areas to the United States, As automobile, refrigerator, vacuum cleaner, television and similar manufacturers convert | to munitions, some workers may |

| be laid off. But widespread fears |

of disemployment are exaggerated. ' Taxes : Higher—both corporate and personal,

stocks. So they'll pay off loans.

In the battle between Secre~ tary of the Treasury Snyder and Federal Reserve BoardChairman McCabe over inter‘est rates, Mr. Snyder now has the edge. He has to finance the defense effort. He'll want to do so as cheaply as possible. President Truman probably will lean to his view, Reserve's hope: That ultimately the government will be able to get on a pay-as-we-go basis for financing the garrison state,

Railroads—Utilities High and assured demand.

Basic Problem Manpower, The shortage will be more acute than during World War II, which in itself is inflationary. Employers will bid for workers, if not directly through wages, then indirectly through disguised benefits -— pensions, free lunches, upgrading of jobs,

Stock Market

‘Last year I was foolhardy and right, I sald that stocks

Construction Residential - building will be off from the 1950 record level of more than 13 million new homes started. Credit regulations and materials shortages will cut housing starts to about 800,000. New plant expansion, however will take up slack. Business men are anxious to beat limitation orders and higher prices. Any plant erected now is regarded as a hedge against inflation, since costs will be higher later.

Capital Goods

Demand will. be high, as

would burst through the 1046 tops. Now, my hunch is that the

‘stock market won't do so well,

To be sure, people want a hedge. against inflation; They want to get into real estate or commodities; failing that, into common stocks which represent brick, mortar, inventories and earning power of great American corporations, But, you can't convert that brick and mortar into cash. And corporate earnings, under the pressure of taxes, are likely to go down, Ditto dividends, Therefore, my bet is that the 1950 enthusiasm over common stocks will wane in '51.

plants retool for war production. The machine tool industry

N. B. I've been wrong before,

Stocks Retai In Year-End

(Continued From Page 27) Paper Issues met favor. Chemicals had some good gainers. Steels - moved higher. Motors were about unchanged on

"balance. :

Industrial production held high but was below last week because of the Christmas Day holiday. Steel operations dipped a shade as most mills operated through the holiday which usually is observed in the industry. Steel cutput for the week amounted 0 1,930,600 net tons, against 1.944.200 tons the previous week and 1,718,300 tons in the corresponding week of last year. Autsmobile output was cut about 30,000 units by the holiday

and some changeovers to new models. ! Coal production fell on the

week but was above a year ago:

sold at $19.50 to $10.60. °°

“ Most sows 450 pounds and un-

450 to 600-pound weights sold at §16 to $17.25. ‘Wooled Lambs Advance During the final week of the

{

year wooled lambs advanced 50. ‘to 75 cents higher, while shorn lambs shared in the climb, but lost later. Sheep were firm,

No. 1 skin and fall shorn fed

lambs ran freely late and chojcd

western wooled lambs topped $32.60 setting an all-time fed

and fall shorn $20.75 and a

fed western

Top Levels ecovery

construction, Electricity . output reached an all-time. record high. Petroleum opéritions continued high. Crude oil cutput gained on the week and the year. Gasoline production dipped for the eweek but was above last year, Fuel oil output set a record high but supplies dropped because of cold weather in many sections. Car loadings fell on the week but were well above a year ago. Retail--trade showed a gain of one to five per cent over a vear ago. Wholesale trade daclined moderately in line with seasonal procedure, &

Nv rominea mms se tmamsn mn ene

Grain Futures Generally Higher

CHICAGO, Dec. 30 (UP)-—The last week of the year saw trade

unusually similar to

but with an irregular trend,

| ‘Soybeans were active relatively, |

and progressed as much as 5% cents higher through the week. Compared to Friday a week ago, wheat yesterday closed 3 lower to 1% cents a bushel!

“der traded at $17.25 to $18 and higher; corn 7s to 213 higher;

oats off -1% to 4 higher; rye 1% | to 2% higher; soybeans 11% to] 5% higher, and lard 7 points a pound. lower to 12 higher, The shadow of the Korean War still hung like a pallor over the market and traders felt that the | market would continue to be in-|

fluenced to a great extent in the! }

coming year, : “Year-end evening up operations accounted for a great share of the trade during the latter part of thé week. However, there was some evidence of modest pressure on Januin the trade Friday, Weather played an important

role In the week's trading. The!

sold at $17.50. #°y contracts of soybeans and lard

bs sub-zero temperatures and snow after covered areas in the winter wheat

Es EIR STACEY HRI ean

the 1950 trading session. | Prices for the week fluctuated ! up and down and with most! bi . traders acting cautiously, futures! Cut Receipts - {closed the week generally higher! | { (Continued From Page 27) to $20.35; and 300-pound weights

NEW YORK, Dec. 30—Engineering construction for the year stands at $12,351,607,000 according to a report by Engineering! News-Record. The $5.7 billion for public construction and the $6.7 for private] construction constituted an in-| {

crease of 51 per cent over last

i 1

year. | Heavy construction awards for the short Christmas week reached $111 millon, 53 per cent below| the average week for the year, but 66 per cent higher than the| corresponding week last year, the! publication reported. fPublic awards last week totaled |

Malcolm E. McArthur with Greenwood Real Estate Agency negotiated sale of this home at 5404 W. 16th St. for Mr. and Mrs. George Maple. Mr. and Mrs, William E. Hesselgrave purchased the property. Mr. Hesselgrave sells for Kingan & Co. Mr. Maple is a tool designer at Allison's, ;

Sale of this two-bedroom frame dwelling at 3348 N. Colorado $62.7 million, of which $3 million| Ave. was negotiated by the F. M. Knight Realty Co. in co-opera-represented federal and $59.8 mil-| tion with the Walt Veon Realty Co. Mr. and Mrs. Donald S. Raver lion. state and municipal awards.| purchased the property from Mr. and Mrs. George Simpson, who Private contracts hit $48.5 million.| moved to Ft. Wayne.

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Dedicated to the wider use and better understanding of dairy products as human food... as a base for the development of new products and

‘materials . . . as a source of health and enduring progress on the farms

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| and in the cities and towns of America.

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Kraft Foods Company «= & 5 nk on

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Committee Chiefs

Times Special WASHINGTON, Dec. 30—The

National Lumber Manufacturers Association, named committee heads at their anual meeting in Houston, Tex. They are Leo Bodine, St. Paul, Minn., chairman of the public re{lations committee; Lee Robinson,

Mt. Vernon, Ala, chairman of the committee on foreign trade,

land E. B. Tanner, Portland, Ore.,

chairman of the committee on taxation. The lumber industry is also represented in defense through Harry T. Kendall St. Paul, named as a special consultant

other lumbermen have been appointed as advisers on forest {products. They are C. A. Bruce, { Memphis, Tenn.; Swift Berry, Placerville, Cal.; John Camp Sr, {Franklin, Va., and Charles W, Ingham, Marcola, Ore,

Lumbermen Name

to the Munitions Board. Four

the seller too high : buyer wor the differ asking mm pegs, espe home mar This wil the existi conventior broker sa ment crec doesn’t co before Oc This wil a more fa tion and, home pric

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