Indianapolis Times, Indianapolis, Marion County, 11 March 1951 — Page 46

3 Scramble for Protection

PAGE 46

Outlook in the Nation—

Ill Take People] To Stop Inflation

When They Get Tired Enough Of Prices, Maybe They'll Act

: By J. A. LIVINGSTON # WASHINGTON, Mar, 10—One thing Americans can be thankful for. This is just about the world's best-advertised inflation. Almost all Americans take it for granted and, to date, have acted accordingly. Workers, through their union leaders, have demanded ‘higher wages. Businessmen have boosted pricés—and exBalled. fuveatories a PTO°lon the rush for autos, refrigera-

be I= \¢orm, linens, ete., in anticipation of creased winter wheat plant-|scarcities and higher prices. And

for farm machinery and fertilizer, estate, commodities, and common .. Alltimate consumers have been stocks. There's a doub-

Remember Postwar Slump ? | meaning inthe| and Michigan Ro

and Michigan Road.

Caaf Es

Claude M., Keesling, teacher, and Mrs. Mr. and chased this house. The former owner, C. ¥. Bailey, realtor, Mr. and Mrs, Mr, Bailey has moved to 35 acres at 79th St. and Mr. Helvey is a produce broker, The Harry Ray Co. handled

Mrs. R. Fred Helvey have bought this house from Ira Weaver. Mr. Weaver is in the veneer business

Keesling, have pur-

the transaction.

| tne $0 to lend.

cent. ; ny But the country banks are in a little deeper, some between

brings out the brooms and scrub

went up over the street entrance of the new store on the Circle last week, in block gold. ! PURDUE UNIVERSITY will work hand-in-hand with the

foregoing: ONE: It's reminiscent of the period just after the stock

‘market crash of 1946, Then we were heading into the nation’s bestfdvertised depression which never came. Businessmen reduced in- ome

ventories; squeezed costs, and lowered prices. Householders cut

down spending. The country never| ; dfd get overextended. And when, Dy nearly everybody that inflation ! wlth tel th 1 edi ted |"! continue is, in itself, a sugu a e " e Ong pe on |gestion that maybe it won't, that «past-war adjustment came in maybe, . dnosheer desperation, < Soa . “it. was exteremely mild. {Americans may make a deter- “Weather Brings . Activity Flurry Ever since Korea, (Continued fronf Page 45)

TWO: The bland assumption mined effort to stop it. . Americans have been cases, without declaring the exact fn a mad scramble against one another. Labor leaders have pro-|item to be used. tected themselves and their workers against rising prices by cost-of-| One builder said many persons living wage formulas, which the White House sanctified in the rail were caught in a “sort of meswage agreements. That's built-in inflation. As prices go up, so go merism” when the international

wages, to push. up prices some — situation darkened. more. assures him of prices which pre-| As things unfold, he said, the

Businessmen have guarded Valled just before Korea or prices picture will itself improve. themselves against inflation by | Which are in line with the prices| Last week still saw general persuading the Office of Price ©f things he buys. confidence that Marion County Stablization to protect their mar-| The farmer has plenty to be would experience relaxed curbs to gins of profit, Retaflers are to pleased about. Agricultural prices, allow critical defense. housing get the same percentage markups in pushing to an all-time high, needs to be met. as formerly. And manufacturers have risen faster than industrial

‘similar treatment. ity ratio now stands at 113. That Influence develops. Greatest obThe farmer has his protection means that the farmer is 13 per stacle, and the ome which will

Another builder said; “We will mw. ». and wholesalers are trying for prices. As a result, the farm par-|do all right if no undue outside Stock Trading Dips lunches. They went to state con-|son; 1921—Joseph J. Schmid; 1922

not current building

against inflation built right into|cent better off, relative to sity slow building, will be material qe To Lighter Levels

dhe Defense Production Act. = It'residents, than he was in 1910-14, shortages, a |restrictions.” This was the consen-

1 .- «Ne Yet, the actions of sys in Marion County. Buying Rush” Dies Down firms “have set" nen projects Banned _up certain cushions against inflation fe Already on the drawing boards The consumer-buylng spree)’ for instance. So far this year, was # 300 unit rental project by department store sales have run mere than 20 per cent ahead of Leader Homes, Inc, in addition 1950, and 1950 was no slouch year. But the rush is dying down a bit. to some 200 by ABC Construction In the week ended Mar. 3, the Co., which will be sold.

- on ALi . > NAAT. b : 4 toyz by the Federal Savings and |B0/d Watch; Herbert Fieber, de-/Okia.

Loan Association |Realtors Offer Tribute Resources Gain 14 Board's Founders

Times Special . (Continued from Page 45) | sons, James Jr. and Lt. Willlam

js WASHINGTON, Mar. 10—A $2 billion increase in resources ‘was with salary of one Ll. Hur{ stationed at Fi Sil,

ST Men associations in:

ceased, treasurer two years. Mr. Carson said as long as Loan Insurance Corp. in 1950. Thomas F. Carson was a member people need houses there will be Insured associations rose oof the first board of directors. |activity.im.réal estate, 2860 with assets totalling $13 Bll-| ctive in civic development| Harry L. Robbins, of the realty on, since 1911, the Indianapolis Real corporation under his name, said: Growth of member groups plus Estate Board includes in its by-| “The next 10 years should be |assets of new associations ac-|laws the “improvement of our Wonderful years in real estate be|counted for increase. city, encouragement of industry, cause Indianapolis is growing so Insured associations hold four. and majntenance and standardi-|tremendously—so many big comfifths of the assets of the nation’s zation of real estate business with panies are locating here permaloan organizations, co-operative enforcement of fair dealing and nently. We can't be held back.”

banks and similar groups. Home fostering of good fellowghip.” * Past Presidents mortgages on their books ' to- 25-Cent Lunches : Past presidents follow: 1912-15 talled $11 billion for 1050, up 24| Wearing the peg-top trousers,|—James 8S. Cruse; 1916—J. Egper cent over 1949. stiff collars and button bert; 1917—J. Edward Morris; shoes of the times, realtors met|1918—W. E. Bash; 1919—William bimonthly for 25-cent plate|L. Elder; 1920—Thomas ¥. Car-

or — AS

ventions by interurban. They|—E. L, Cothrell; 1923—Scott R. made calls by horse-drawn bug- Brewer; 1924—John R. Welch; gles. 1925-26—Frank E. Gates; 1927—

“They've kept the enthusiasm 1 H. Lewis. with which they organized,”| 1928—E. W. Challle; 1929—E. Thomas Carson said. Kirk McKinney; 1930—T. E. GrinVolume Lowest Meetings were strictly stag Slade; 1931—Albert E.. Uhl; 1032. Since . September

By ELMER C. WALZER United Press Financial Editer

11935—Paul L. McCord; 1936—M.

lly.” Fe : Socially, realtors and thei, “py 007 med 1. Palmer;

ladies held banquets and danced

ER a I TF Th his. OnrdonsL

‘gain over a year ago was aply 18 per cent, as against 24 per cent the week before and 18 per dent the week before that. That statistical rise might well be interpreted as a decline. * Easter comes two weeks earlier this year than last — Mar. 25 versus Apr. 9 . So you'd expect Pig gains — bigger gains, say, than in earlier weeks. Can it be shat wardrobes and linen closets iare oversupplied as the result of dnflation buying? + Similarly, supplies of durable are still ample. No slack occurred as yet in homeuilding, notwithstanding Regution X. Housing starts in

steel allocations to 80 per cent of last year. Finally, business inventories are up 19 per cent over a year ago, and in some lines, like copper, the feeling is that shortages may disappear as the result of reduced government stockpiling. Many consumers have far more stocks than they can now consume under government regulations. Therefore, demand from smelters may decline. The inference is that a good many of us may be overprotected against scarcity and price rises. The attack on inflation got a sudden boost in Washington

Mr. Holden in New York told the bankers: “There is certainly no present evidence of any need for more than a moderate squeeze on construction or for a squeeze of long duration.” ' He went on to say, however, the current drop in dollar volume has thus far been “entirely a matter of anticipation.” “The expected squeeze on civilian production and construction,” he said, “should be felt in the second quarter and become in-

In Indianapolis, meanwhile, there was a flurry of activity

world this week that traders shunned stocks and trading volume fell to around the lightest level since early September.

NEW YORK, Mar. 10—So0 many |the fox trot in local: hotels and 1938 —George T. Whelden. things developed'in the financial clubs,

Confident of real estate activity | this year, founders expect “In-

ment’s bond program which later was partially clarified, selling of small amounts to raise money to meet the Mar. 15 income tax instalment, and word that some

creasingly severe as the yearpinvestment trusts were selling »

common stocks.

Intangibles which received attention and stirred fears included

department, Bank. : He was backed by John W. Roberts who said: “The real estate business will continue to be good because people will invest money in tangibles, hence, in real estate. Restriction of financing will keep us out of financial difficulties resulting from

Indiana National

dianapolis’ growth in population to be matched by growth of residential property and real estate.” | Tangible items which confused That was the prediction of Frank the trading element included tie Thomas, real estate management uncertainty over the govern-

In 1939—C. B. Durham; 1840— Guy Williams; 1941—Earl Teckemeyer; 1942—R. E. Pickham; 1943 —Walter M. Evans; 1944 —Fred C. Tucker; 1945—Wendell M. | Hicks; 1946—E. W. Springer; 1947 A. H. M. Graves; 1948 Carl

| Seytter; |1950—Bruce Savage; |seph H. Argus. Deceased are: Mr. Cruse, Mr. Morris, Mr, Bash, Mr. Eider, Mr. { Cothrell, Mr. Brewer, Mr. Welch, Mr. Chaille and Mr. Springer. Wendell Hicks, now living in North Manchester, plans to attend past presidents’ day celebration. The arrangements committee

1951—Jo-

1949 —Howard Fieber;!|'

January were up 10 per cent over when the Treasury and the during the break in the solid ast year. Federal Reserve Board an- winter freeze. & And automobile production nounced an accord on a policy| Ground was broken for the keeps booming along—so muchito stop expansion of bank bhasemerits of homes in many so that fears of rearmament| credit. The Reserve curtailed its areas, and the recent stretch of “shortages are abating, notwith- rigid support of the government “spring” increased the construe{standing impending cutbacks inibond market. tion tempo.

: The maintengnce of fixed and firm| This served a dual purpose. It P ressure Great prices for government bonds has been kept crews together and will en-

le them to make the most of very dear to Secretary of the Treasury John W. Snyder in the face ab %of Reserve arguments that it pumps credit into the banks The better days to come. The 195} banks then increase their loans. {building program is off to a fly.Mr, Snyder may not have agreed to permanent withdrawal of Ing start.

A tem! Tr afi" ————————————————— a — ap —— cnrnnen sts: § EO cgeats that pressurs on tively, they'll do something about J, §,

Coffee Imports

it. In other words, our selfish in-| . him and Reserve Board Chairman Reach High Level

Thomas B. McCabe to stop bank terests as consumers and as savt expansion was great. ers may prevail over our selfish NEW YORK, Mar. 10 (UP)—

Similar pressures will mount in Interests as wage earners, farm- The National Coffee Association Congress—for action om taxes, ®’% and businessmen. of U. 8. A. today reported ar-

which would curb consumer buy- rivals ®f coffee in the United

ing and for a revision of the De- : - Nps Produétion Act's floor De- Grain Prices Cut of 2 million bags of 264 million der farm prices. a : CHICAGO, Mar. 10 (UP)—Ner- pounds. When enough persons get vousness resulting from world worried about inflation — and news dominated in the grain pits/the short month in the last three more and more are getting more at the Board of Trade this week years—21 per cent higher than worried every day, as cash-ins of and tended to hold price move- 1949 and 28 per cent higher than *E bonds indicate—maybe, collec- ments in check. 11950, according to the association.

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f t| . . This is the largest import for|D%e8 48 Opponent ol. svvernmen By Wooled Lambs ay aady & Springer Inec., real

3 | 4 wr n For {group holds that General Motors| lower. 3 |

{Packard gained when it was an-|

| Thereafter prices moved in a nar{row range. Tin broke when the

| favorable.

such widely diverse items as a over-extension of credit as in peace scare and fears of an all-[1929." for May 3 includes R. E. Peckout war, The scare came - ham, chairman, Walter M. Evans, \ Mr. Roberts started selling real Thomas E. Grinslade, Guy H. on Monday when the industrial estate in 1900. He is with W. A. Williams and Frank E. Gates. average fell 1.61 points iy the Brennan Realty, Inc rails lost 1.26 points. That was ? . YN TTT before the Big Four. Conference Cites Industrial Growth Realty Firm Here really got under way. Subsequent dames Ww. Bart Sr. said: _ 4 : : d developments squelched the peace|8et new people because Indianfears. apolis is growing so fast idan] S eor ganizec a Oil Group Active trially. We don’t lose the old a at While the main list of stocks|CPes. We have permanent, subsuffered from ennui, the specula-|Stantial citizens who buy homes. tive elemént vented its energies © re considered a ‘city of homes on special ‘issues and selected Naturally, as population increases shares in the main group. demand for real estate increases, | Oils enjoyed a good market in han ng healthy growth of our 1 scversi oe selons, When they Tome Mr. Hurt started in business in 4 ascribed to the Iranian situation. 30 and now heads Hurt Bro-| Iran moved toward nationaliza-| ners Realty Co., joined by his

|ation of the premier who nad Market Boosted Mr. Springer Mr. Bolinick

tate firm which has served InNumerous special rails enjoyed] CHICAGO, Mar. 10 (UP)—New dianapolis for 38 years, has been a buoyant market, notably some|all-time highs for wooled lambs reorganized as Ed Springer Realof the preferred issues. Insurance| were chalked up at the stockyards| ty, Inc. stocks were given a whirl for a|this week, while cattle and hogs| Announcement of the change time. Some of the chemica's|tended toward steadiness or lower Was made by Ed Springer, secrestrengthened. Textiles, electronics. prices, |tary-treasurer of the firm. Other and airlines had their periods of| (Cattle receipts were higher|officers are Lloyd Z. Beckwith, strength. Rubbers were irregular than last week’s record low, for President, and H. Duff Vilm, vice and aircrafts lower. ‘|the past several years, but still President. | Steels moved narrowly. General were below normal. The business was organized in | Motors rose on its earnings report| Slaughter steers and heifers 1913 when H. 0. Waddy and Mr. {showing all-time high profits for|sold weak to mostly 50 cents Springer’'s father, E. W. Springer,

Aluminum Company of America in personnel studies and the hunt for new products.

. # . THE CIO REPORTS that Anderson and dry cleaners are wrapped up in the same

the one the owners have here with the AFL. They've got a new potato up at Purdue. It's called the Cherokee. And it will do better in Indiana, resist disease in the Hoosier muck soils, rich in bacteria, bad for spuds. FARMERS OUGHT to be happy. Prices of the stuff they sell moved up 6 per cent from January to February, and 31 per cent over

But I am told some of them are coming through without certain non-vital parts, thess to be sent along later—maybe. RUSSELL J. SIMPSON, local for Sun Life Assurance of Ca tells me Victor Deitch

LS that may have some are at t the government rd ee pays to

deal which {5 & carbon copy Of gqied

this

Stra brings out the kites, marbles and chalk, the w$§ latter used for making hop-scotch diagrams on sidewalks.

And it’s also used to mark other things on sidewalks. And that

brushes, to get it off “before the

$441 million in new life policies in the year.

E. KIRK McKINNEY, president of Jefferson National Life, reveals that the “E” is for Edward, Knowing the company and the man, I'd put it down as “E” for Excellence.

IT LOOKS TO ME as if we'll

eat this year. In January tractor fumped (0 $137 milion, as

And farm income was up over $100 million, too.

IT'S THE GIVE-AWAY season for the soap makers. This year it will be plastic clothing covers and garden seeds.

New Freight Cars Gain NEW YORK, Mar, 10 (UP) America’s railroads ordered 15. 947 new freight cars in Febru ary, raising the backlog of. une.

of 154,861 as of Mar. 1, the American Railway Car Institute and the Association of American Railroads announced jointly to-

day. :

an auxiliary

you what it

[1950, but it failed to make a new/lower, but the closing trade was formed a real estate partnership. |high which disconcerted those who moderately active; cows strong to| Incorporation followed in 1931. {regard this issue a barometer of 50 cents higher; bulls steady to/Both’ men have since died. {the future for the market. This| weak and vealers steady to $1/ Mr. Springer said the offices {will be maintained in 714 Peoples predicts the market's high, usual-| About a dozen loads of 1100 to Bank Building, and will continue ly making its top four months|1415-pound weights sold at $40.50 to specialize in real estate brokbefore the nlarket top. The GM|to $42; one load 1180-pound éF28e and general insurance. high was set five months ago. weights at $42; bulk high-good! Besides Mr. Springer, the sales Utility List Off and choice steers and yearlings| Stall Includes Charles Bolinick| Utilities lost a few cents in their | $34.50 to $38.25; few loads 1400 to(2Nd 8. Joanna H. Cushwa. average but this group behaved |1530-pound weights at $37 to $38; better than other sections of the|Most commercial and good steers market. Three of the more volatile $30.75 to $34.25; few loads light utility issues declined substantial-| utility steers down to $28.50; load ly to mar the average while the|choice to prime 972-pound fed other 12 of the group had a ma-| heifers $36.75; bulk good and

Distributed By

jority of small net gains. {choice heifers $31 to $36, and INDIANAPOLIS Many stocks rose on favorable VIEL and commercial largely $26 earnings statements, including Du oF : hi RAWLPLUG C0. Pont which benefits through its Yew high-commercial and good | g39 w, y5¢n St. Indianapolis ownership of 10 million shares of *°W% $28 to $30; most utility and Plaza 3991

commercial cows $23.50 to $27.50.

REMODELING CARPENTER WORK

General Motors common stock.!

nounced the company had received a large war order. This low-priced motor led the market in turnover in several sessions. | A few volatile rails dropped sharply, notably St. Louis South-

Other rails in the main list were All Types of Aftic Rooms changed to ints lower. ; Soup issues Tetreated when the Finished—Skilled Workmen

price controllers cut back soap prices. Government bonds declined, but the federal reserve bought a Jot of’ them to stabilize the market. This inflationary ilem was offset

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somewhat by the deflationary loss ° i of $135 millon in gold to foreign RI-1442 Gutters, Downspouts © Garages nations. —————— ° Porches, Enclosures ° PI bing Cotton trading was resumed FREE . after a closing of nearly six ESTIMATES Complete Insulation © Roofing weeks and in the first session of Outs Town Inquiries laviedt

the reopening — Thursday — one million bales turned over. This cotton mountain—a half billion pounds—is more than 10 per cent of the whole cotton crop. rst {prices rose $5 to $10 a . bale.

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