Indianapolis Times, Indianapolis, Marion County, 18 March 1951 — Page 50
5 Outlook in the Nation— Ea Inflation Climb Leveling Off ine
Signs Indicate Soaring Prices Are Beginning to Lose Steam
set all-time high prices for fo hogs made moderate gains at t.
8laugh
week, after receipts increased;
the wane. To illustrate: The price of tin recently
a pound when the government ceased stockpiling. Obviously, here was an air pocket. As soon as the big buyer quit the market, most other buyers
fled.
Business loans of commercial banks - dropped for the pay off loans just before Easter. first time in 41 weeks. The decline) Nevertheless, it's a sign that bank wasn't large — $53 million to
’ * Sec. Snyder's Concession suggestion, is the way Secretary of the Treasury John W. Snyder and Thomas B. McCabe, resigned chairman of the Felleral Reserve Board, carried out their agreement settling
: — By J. A. LIVINGSTON WASHINGTON, Mar. 17—A turn in sentiment could
be at hand. High and rampant confidence in inflation is on
heifers steady to 50 cents higher; cows 50 to 75 cents higher; bulls 50 cents to $1 higher; vealers fully $1 higher, cows, bulls and vealers very scarce and stockers and feeders averaged steady to strong. : Hit $42 Top A small supply prime steers and yearlings sold for $40 to $42; : three loads 1063-1176-pound weights, $41 to $42; bulk highgood to low-prime fed steers and yearlings, $34.75 to $390.50; two loads choice 1675-pound weights, $37.50; most commercial and good steers, $31.75 to $34.50; few utility and low-commercial kinds, $30 to $31.25; few loads and lots choice
took a spill from $1.80 to $1.34
$18,680,000,000., Nor was it untimely. .
Usually, businessmen begin to
credit is not on a one-way stréet.
Even more important,
as an -antl-inflation pyjx good and choice heifers,
$31.50 to $36.50 and utility to lowgrade, $26 to $31.
thelr dispute over mone-|™ , "4 cows up to $30; utility
All-Time High A Set By Slaughter Lambs
CHICAGO, Mar. 17 (UPj}—S8laughter-lambs bounded to;
e stockyards this week. |
Cattle receipts were light for the period due to over the producing area, which made shipment to market difficult. ter steers and yearlings were about steady dropping from fully steady to $1 higher at mid-
to prime heifers, $37 to $37.50,|
Be
] o
Prices
in succession, while cattle and cold weather
trading to narrow limits late in! = the week. i Butchers under 300 pounds around 25 cents higher; heavier weights 25 to 50 cents higher and sows 50 cents to $1. higher. Week's top was $22.45 paid in a small way and the closing top was $22.35 paid for weights up to 240 pounds. Most 200 to 280 pound weights closed at $22.10 to $22.35; 290 to 310 pounds $21.75 to $22; 320 to 360 pounds $21.25 to $21.75; weights under 200 pounds scarce all week and ranged as low as $20.50 for 180 pounds, sows 450 pounds and under $19.75 to $21 iy 450 to 600 pounds $18.75 to| rooms on a large Dudley St. lot. In the sheep market, slaughter | ww nueiini wou lamb receipts were far below last week's and the previous year's. The scarcity was mainly responsible for driving the price upward
= 1922 Dudley Charles and Elsie Thomas were the buyers of this house sold
by Mr. and Mrs. Ora E. Newport. Charles B. Smiiey, Smiley Realty Co:, conducted the transaction. The house contains four
tary policies. Both the Treasury, and the Reserve Board stopped - supporting the prices of long-term. government bonds. This is a dramatic) warning to bankers and business-| men that finally the country’s top “monetary authorities fave decided that Inflation must be stopped, and no fooling, President Truman's appointment of Willlam A McChesney Martin Jr, as Mr. McCabe's successor suggests that this policy will be continued, Mr. Martin, as assistant Secretary of the Treasury, was Instrumental in persuading Secretary Snyder to go along with the Reserve Board plan to let the
| goverpthent bond market go free. + -~. :
That meant that Mr. Snyder would sacrifice savings in Interest costs on the government debt to the broader design of curbing inflation. For Mr. Snyder that was a major concession. In the first place, he had President Truman's back(ing in his dispute with the Re|serve. Further, he was departing {from the tradition established by {Secretary of the Treasury Henry {Morgenthau Jr., who insisted that {long-term government 21 per {cent bonds must always sell at 100 cents on the dollar. They've been selling under that, as a consequence of the accord.
Engine of Disinflation Mr. Martin, incidentally, 1s
steeped in the atmosphere of the Federal Reserve. His father, an attorney in St. Louis,
was once governor (president) of the Federal Reserve Bank of 8t.|
: At the age of 32, Mr, Martin Jr. became the of the New York Stock Exchange.
He's 44. ; check it. ‘Wall Street, which has been so Now that the Reserve Board is
insistently waving the inflation no longer peggin vernment banner month after month, took bogd prices, it is a Bgl to : this accord seriougly. Some specu- put the squeeze on the banks by “lators desit.. “YR It Mr. Snyder selling some of its U. 8. bond and the Reserve Board are holdings. It can become an engine agreed that inflation must be of disinflation.
Wall Street Inventory Reflecting the shift in sen-
first paid president checked, then somehow they'd
to a new world’s record. Slaughter lambs $1 to $2 higher,
and commercial cows late, $24 to $29; canners and cutters largely $20.50 to $23.75; utility and commercial bulls, $28 to $32; good] {and choice bulls, $30 to $31.50; to 50 cents higher and only token
[good to prime vealers late, $34 to receipts of yearlings - and very!
($38; cull to. commercial, $24 to moderate supply of sheep, $33; choice 489-pound stock! heifers, $37.25; medium to low- wooled lambs $42, an all - time choice stockers and féeding steers, high; bulk wooled lambs $41 to $30.50 to $35.25 and two loads $42; long summer shorns $40; No. choice quality 1024-pound short-|1 skins $36.50; handy mixed year(fed steers on feeder account, $30./1ings and two's $37; slaughter | Although the scarcity of hogs | ewes $24.50; bulk shorn lambs
{tended to drive prices upward| $36 to $37.50, bulk slaughter ewes earlier, |
Spring Buying Rush Here Second Only to Christmas
Flurry of Easter Shopping Brings
Heavy Demand to Indianapolis Stores
Continued From Page 49 lion worth of hides and tallow a month. - But that's just a guess. His figures are his own, and I'm not the one to pry into anyone's private affairs.
150 Million Meals I have often wondered how big
factories feed so many peo well. ANA hearing Comptia — nei di vas NOS Sons dats where factory food is important in employee relations. - Suppose a factory worker gets bad food. Immediately someone ‘will charge that management was trying to poison him, or surely was careless, ‘more like the truth. n
timent, industrial share prices are off about § per cent form their recent highs; the rails are down 12 per cent; the utilitiés about 3 per cent. The decline has been going on for about a month. It cannot! be construed as a bear market signal. But it certainly. suggests
that Wall Street is taking in- - per cent previously, this doesn’t
- ventory. : :Economic Stablizer Erie John-| indicate that customers are flocking to shops for Easter
ston has also put a foot down on finery.
lation. He refused to sanction 11-cent-an-hour pay increase] Fost-Korean buying splurges, inf the meat packing industry. partly based on cashing of E {Under the 10 per cent wage| bonds, may have filled wardceiling ‘adopted by the nonfunc-| robes. tibning Wage Stabilization Board, From now on, corporation egrnthe CIO United Packinghouse ings reports may not look too Workers of America was entitled good. Declines in profits are likely. First, because prices are un-
only to a 3-cent wage boost. 2 der control. Businessmen can't
tA strike is threatened for Mar. 26 when the present wage con-/charge what the traffic will bear. Second, Mar. 15 was a reminder
tract expires. Mr. Johnston's ruling implies that the settlement of of how painful the higher corporate and personal income taxes
Emil Rieve’s Textile Workers Union of America with American/can be. Inflation talk may give way to poor mouth.
Woolen is also out of order. Bearing on this, government re-
: Retailers are noticing some slack. Department store sales, [ceipts are outrunning government expenditures. Taxes were under-
for the week ended Mar. 10, Were up only 20 per cent over estimated; military expenditures overestimated. That, in itself, is
& Year ago. Normally, that. would shape up as a fat rise. disinflationary. The meaning of all this is not
But this is only two weeks before Easter, and Easter this [that inflation {s permanently checked. But, at least, it looks as
year is two weeks earlier than last year. And since gains were |if we may have some temporary relief from rising prices.
Clinic Planned in Memphis For Construction Field
John E. Baver to Represent Indianapolis
' -. Groups at May Conference in South Continued From Page 49 and three children have returned
from Anna Maire Island, Fla. Ye es every year, Mr. Combs ,,.." p,vds live at 5616 Central
\ Ave. St. Louis Bound | 1 : RICHARD oBERREICH ana Grain List Hit
Don Hanson go to St. Louis to-| . morrow for a two-day conference | By Selling Wave on defense effort and housing.| CHICAGO, Mar. 17
{Board of Trade this week and slumped under the pressure. As “in last week's trade, the markets appeared nervous react-
velopment Commission. Mr. Hanson serves the Indianapolis Housing Authority as executive direc tor. !
[time I have been surprised to GM's business, Bendix in South
‘They take no chances on epi-
the foremost feeder of the Amer-
Prophet Co., of Detroit, which feeds all five Allison plants in Indianapolis and GM's
either take a management fee and let the company handle all of the bills, or it will take a plant on straight where the cafeterias are capable the company which serves 150 of paying their own way.
doing this for 35 years, feeds the 1 employees of 94 companies, most to look good, too.
(UP)—| Mr. Oberreich is executive secre- Grain markets were faced with) tary of the Indianapolis Rede- several selling movements at the)
'8¢ them wh in 20 states. Fo I have eaten in many plant] m whoppers, in 20 states. For cafeterias in Indianapolis: Each| instance, it has a big chunk of
find the food as good. or even Bend, Chevrolet in Muncie, and better than you can buy in the the RCA-Victor Division in Indi-
best hotels. anapolis.
where they use it, and the dishes matic candy and cigaret machines, and silver are hospital-sterile.;snack bars, executive rooms, canteens on wheels. demics.
ican wage earner is the Fred B, is over the barrel.
Chevrolet phet Co. If it did, big companies like General Motors, RCA, Goodyear Tire & Rubber, and the Atomic Energy Commission, wouldn't have them around.
Truck Body Plant.
The Prophet company will
profit - ‘and - loss basis
{million meals a year.
mostly .$2 higher on fall shorn| offerings; slaughter ewes strong
heavier shipments held' $21.50 to $24 and bucks $20 to $21. |
The linen is fresh and inviting] It's broad. It will put in auto-| dining| |
They've got to be good to stay) ! Inquiring around I learned that in this business. - One “blue” peep from the shop steward about the : |food, and the catering company| |
You can bet your Easter hat: that can't happen with the Pro-
Now one tip for the wives from ert Walker, realtor, will talk on | “Choosing a Home Site.”
Subjects for the other five ford is
High-good and choice “fed T§
the property, representin nM
were Mr. a rs. Jesse P. Stoner.
649.51 N. Hamilton -
Sale of this home to Mr. and Mrs. Robert Hecht included a second house on the lot. James Holland was the salesman for Frederick B. Cline Co. The sellers
Building Forums Open Tuesday
‘Phéncing and Sites To Be Discussed
Bugaboos of home building will be attacked at the annual Indianapolis School for Home Planning| Tuesday, 7:45-9:45 p. m., in Technical High School. | a Albert R. Mahin of the city| school system i. will direct the . forum, first of i six to be spon-| sored by the city, school board and civic organizations. Lyle Tinsman, secretary, Sav- - ings & Loan ahin League of IndiMr. M ana, will speak on “Financing Your Home.” Rob-
People eat with their eyes. Food
The Fred Prophet Co. has been not only has to taste good; it has
}
: —'"“Adequate Heating”; May 1—“Kitchen Plan- |
‘Homebuilding Hit By Defense Curbs
LOOKS GOOD, TASTES GOOD—Company cafeterias don't
ing again to the numerous Korean peace ‘rumors and the sluggish speed of the Big Four to reach an agreement on an agenda.
Nursery Crowded
A BASINET has been added at the home of Riley McGraw, reaitor, and Mrs. McGraw, 5207 N. Illinois St. It's for recent arrival,
Say Ann, second child in they, ious factors held the declining amily.
prices in check. Mailboxes Crammed
THE POSTMAN has been ring-|on Friday. ing several times at homes of] The switch in movement was realtors. Cards arrive from va- motivated chiefly by covering opcationists. Dan LeGore, in San erations brought into the market! Jose Purna, Mexico, and Mr. and|by the lower prices and export
Mrs. Sid Romer, in Acapulco, business in wheat. . countries. |
The Chinese Red Army's in(creasing defensive strength below
Mexico. :
Frank E. Gates, in Nassau with Shughter Chariots, Yeporis ac nificant factor in the upsurge Hargon, Indianapolis Real Estate|” orerday. Board treasurer, and Mrs. Hargon are in Miami. Fat back Jrom Flarida are ihe Luneidies would be allowed sub-| pools. The Joe Schmids write 6% lo conBrmation, they're eating fish every day in| Florida cities.
mistic about the grain export
nation caused by the government
logs. . Mrs. og. Mr. and ¥s Jaymoend withdrawal of funds.
Franke are in Miami. Home are
After sinking lower on Thurs-| |day, grain swung upward againiing the “take your car along”
Traders tended to be more opti- Rome the last week in.June,
|000. And most people thought News that ships were being RCA made the whole “works” {recommissioned to haul grains|right here in Indianapolis. Moved from Pompano to gt. |abroad added weight to this spirit] HOW MUCH CASH goes Petersburg are the Forest Kel. 2nd tended to relieve price stag- through a drug store register in|
Haggard, Donna Twomey, Marcella Sparks and Marian Ashby. Straws will. The Milwaukee Road has reduced passenger |fares for student ‘groups making educational .trips to centers
The market picture, however, where there are museums, institutions of learning, state and federal was not a one-sided affair by any buildings and historic and scenic spots along the line. f means for rallies prompted by,
ideas dropped
says the average in 1949 was $83,641, based on a survey of, 1378 retail drug stores. |
angle for foreign travel. Cars go, CARPET IS SHORT but may as ‘accompanied baggage” at/Pe shorter. The big Mohawk Carhalf the freight rate. And thePet Mills, Inc, has a huge order AAA has a set-up ‘to help mem- for duck. Besides, it is getting bers met around dverseas in gg/ready to turn out 250,000 olive g +drab army blankets.
ELECTRIC laid out $375,000 for 65,628
GENERAL by employees. The "score: |submitted, 22,275 adopted.
TRAVEL AGENTS. are push-
\the 38th Parallel also was a sig-{bulge again this year with the or “soft.”
National Catholic Rural: Life|
Conference meeting just outside rubles from Moscow to Viadivos-!|extra charge. [tok. A “soft seat is 1075 rubles.|
RCA HAS 4800 suppliers in 427And, says Harold Sander of the
situation following reports that states. They were paid $289,097,- Business Library, there are no
000 last year and employed 50,-|quotations on the “hot seat.”
la year? The latest figures I've
the Gil Carters, who spent a month in Tuscon, Ariz, and the Ford Woods, after a month in Biloxi, Miss. Guy F. Boyd Jr., president of Jack C, Carr Oo. Inc, Mrs. Boyd
‘DRIVE
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INDIANAPOLIS RAWLPLUG CO.
839 W, 15th St. Indianapolis R Pleza 3991 :
RUIN UE
seen are in the Lilly Digest which
Pay As You Drive
MONTHLY PAYMENTS | Call AT. 1358-1359
goo mt RE e 2nd Floor =
miss, not when the Fred Prophet Co, serves the meals as at RCA, |in February, and the weather |
Allison and Chevrolet. These noon feeders at RCA are Mary was favorable for construction work, compared with January,
Here's something worthwhile, and loaded with good
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For FAST...CLEAN...DEPENDABLE SEWER SERVICE CALL YOUR
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grams follow: Mar. 27—"“Home | Plans,” “Telephone,” “Water Serv-
ice”; Apr. 10—“Lighting,” “Interior Decorations”; - Apr. 17— “Building Contractors,” “Con-|
struction and Materials,” Apr. 24 | Wiring,” “Home |
ning,” “Home Appliances.” No forum will be held Apr. 3! because of spring vacation. |
WASHINGTON, Mar. 17 (UP) fense curbs on private con-| Wruction helped cause a “signifi- | cant” decline in homebuilding during February, the Bureeau of Labor Statistics reported today. It was the first major drop in!
home construction in recent years. The bureau reported 76,000 |
private units were started during | the month—a drop of 8000 over! January. ‘This was ‘especially important,” BLS said, because! building trends usually are up|
2 ~.
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Ar, 7:30 P.M. Next Day 9 Other Schedules Daily
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Dennis Barton’ was
Edsel Realty Co., r
house for Mr. and Mrs. the same day to Mr. and Mrs. Carl W, R bungalow located near Brookside Park.
The FAIRFIELD—Model 7T122...
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Sales Ju By Real
Oontinued
-Hall-Ho tt Kingsley Driv ; .. ‘Forrest B. RB »- St., 2851 Wasi : , °F. M. Kniglh -§ oN. Pennsylvax * ‘Clair "St., repr Spann Co. In sota St., 1151 R. E. Peckh: St. Bruce Savag side Drive, Drive, 3726 L Walt Veon Boulevard Pla: 5931 Haverfor Robert E. W
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