Indianapolis Times, Indianapolis, Marion County, 10 June 1951 — Page 43

"Loses Ground

Stock Market Prices Rise For Second Week in Row

By JOSEPH W. MICHALSKI only to record-breaking 1950. ProLinited SRX Yinaneial Writer NEW YORK, June 9 (UP) | ear totaled 155323 cars and Prices scored modest gains in the ,. os against 121,476 last week

Stock Exchange this week. | Kk The ‘advance marked the sec. And 200,515 in the same week last

ond consecutive wek that prices” gi .o) (norations alse continued

ly J. A.

‘who maps out

substantially.” , when the North Koreans

(troops to check aggression,

Autos—Symbol of

: ~you can get substantial discounts from manufacturers’

Ti have been so plentiful that in April people ted them. Yet, April's a ) in which a young man’s [ancy turns to trips in the couny—=with her, Auto sales should plenty of spring, Passenear registrations, at 470,-

Livingston

3 , June 9—In a new stimulating book, gical Analysis of Economic Behavior,” George ‘the point that liman actions follow a routine. ‘the wife who does the shopping for the family,

the budget (if any), nor the

‘who lays in inventories or plans production es policies or expecta- | ered: From : 3 peace to war on | often. But, says Katona, a Sunday afternoon, Americans

‘expectations do change, went on buying sprees. Business“usually ‘change radically men laid in inventories.

Housewives rushed to the stores for re-

crossed the 38th Parallel and|frigerators, washing machines President Truman committed U, S.land sugar, and automobile deala /ers were swamped with customers.

violent change in expectations! Big fear; Shortages.

Now another change in expecta-

Change

000 in April, were 8 per cent below March (see chart). Regis trations didn’t even come up to last April's total of 471,000 when sales were restricted by the long Chrysler strike. Autos are symbolic. The last stronghold of the consumer gray market is gone-—replaced by discounts!

month.

"NO SPRING IN AUTOS . slumped in April. normally a bouncy as 1948 and 1949 show®

Dow ALIMEC *

consumer purchases to keep up.

chases, So they marked down prices on fair-trade items. They Tested a slump in sales. When people go to .a depart-

ans, or Toastmasters, or Springeave suits, they buy other things

p not marked down. Isn't iat an old A&P custom?

i 's still Inflation

approach thelr scheduled peak, thereby increasirdg purchasing +Ultimate expectations may not vleld to the sheer arithmetic of lation. The recent lull in prices A ide this much clear: Prices bn't always go up. Goods are pt always scarce. The great pa ity of America to produce s ‘deen redemonstrated, That alt underrated factor in the asin outlook, So Jong as the peak of delense production Is still ahead, #0 long as cutbacks, such as the pne at General Motors, impend, te fear of shortages will spur Some buying.’ But the fear has lost Intensity-—to be regained : id if Russia intervenes in

ankers to Hold e Convention

‘Representatives from more 400 . Indiana banks and ‘ institutions will attend the 54th annual convention of Indiana Bankers Association ‘French Lick Springs Hotel,

French Lick, Wednesday and

fajor speakers on the profam include: Dr, John K. Lanprofessor of Business Adtration at Indiana University: Mary G. Roebling, chairman of the board of Trenton Trust ;. Tremtom, . N.. J.:: W. A. itchell, president of the Cenal Trust Co. Cincinnati, and je Foster, well-known comand newsman,

social hour, sponsored by the

0 House Asn, will be held Wednesht in the hotel gardens tes and guests, For 8’ wives attending be a style show, golf it, talks on floral arluncheon and a book

® April 1950 sehen ware wt by Chepaler sivike

e War Shows Change & Straus price war in New York City dramatized the change| white receipts expectations of merchants. Stores bought heavily, counting on week's and

‘ Suddenly, they had inventories to get rid of when their ales] hadn't kept pace with their pur- —

t store to purchase Eversharp a 3 per cent rise in the nearby city of Newark, N, J, and 7 per

p. Losses on the leaders win cent in Rochester and Syracuse. Me. offset by profits on sales of Ninety miles away in Philadel. ; phia, merchants looked in the $3865 and $38.75; bulk high choice most of the pressure. : t other direction. '& The price war succeeded. De- part of such crowds and chaos, $38.50; bulk good and choice partme store sales in New [And sales were off 6 per cent. grades $32.50 to $36.50; four loads

Furthermore, th e

York City in the week ended June 2 were up 24 per cent over the year before.

That would compare with only

They'd have no

The prevalent mode of thought in FRASER RRTRINARAN the United States is still inflation. plls are still on the rise, despite layoffs here and there. In , unemployment at 1,600,000 was at a low since the Japanese grrender. Employment, at 61,200,000, was at an all-time high for “this season of the year. And in the fall, defense expenditures will

Kora or strikes somewhere else. The chief concern of businessmen today is whether the prevalent expectation-—which means their own expectation--of shortages in the fall will be verified, If this country gets over the hump of war production without major shortages, expectations could—and would-—change radically. That, Incidentally, is the restraining influence right now-—on consumers and businessmen alike. It's the fear of being over-| bought-—if and when supplies are generally available. That, In itself, 18 a basic and beneficial change in psychology.

Mowing of Lawns The average lawn is mowed 20 times during the growing season, with a total of about 30 inches of growth being cut from each plant.

.jnual rate of 7,250,000 cars and Natural Gas which moved up 2%

Macy-Gimbel-Abra- |, ,

1335:pound fed steers

have moved upward. Reaphts thely, operate around capacity levels. mild upsurge, dealings were Nigh-| , ican Tron & Steel Institute

ly restricted with.sales averaging... ced that the nation's steel

la little more than 1,000,000 shares tor each of the five sessions. : |TMuS this week operated at 103.2

Market news continued on the Per cent of rated capacity, repre.

senting a gain of 0.5 per cent with dull side and Investors generally| output of 2,063,000 tons of

leaned to caution pending de-| ieel velopments in the foreign situa- Building Rises Over '50

tion. The uncertainties on the > economic front also dampened FiséWhere, contracts granted

buying enthusiasm. Up, Then Down The market on Monday registered slight declines, but for the next three sessions it moved upward progressively. On Friday, however, it slipped small fractions, but this reversal in the

trend did not wipe out all of the accrued gains and the list fin- cities improved moderately, re-

fshed thé week fractionally/flecting the “price war” in New higher, {York City. A week earlier the | This week was also the second clearings were distorted because {week that Wall Street observed the holiday. Bank clearings

construction, while some 21 per cent below the prior week, were about 31 per cent above a year ago. Lumber production in the week ended May 26 rose some 5 per cent and 11,7 per cent above last year. Bank clearings in 25 leading

tions 1s taking place. For the first time since Pearl Harbor, you Summer. schedule with the mar-| fOr the last week totaled $16,922,can walk into an automobile display room--and if you're not too particular about color—.you can drive away in a new or used car. In the case of the independent companies—Nash, Hudson, Kaiser-

ket being closed on Saturdays. |243.000, compared with $11,959, A few individual companies re- 200,000 a week earlier, according {ported highly favorable develop-/!0 Dun & Bradstreet, ments. Eugene Holman, president] Chemicals Gain Most of the world's largest petroleum| On the Stock Exchange, chemicompany, said that Jersey Stand-|cal shares scored the widest gains ard’s profits for the initial half ofthis week. Monsanto Chemical the current year will set a new|ran up mere than 2 points and record for the period. LAllied Chemical registered a gain Sutherland Paper reported a of more than a point. dividend boost. A few other con-| Automotive stocks were an exjeerns also announced dividend in-|ception to the general trend with ereases. {Chrysler falling. 2% points to Heavy Industry Up {89%. General Motors eased. Heavy industry also perked up| Steel equities tacked on modest this week after last week's cur-'gains. Rails were higher with a tallment in operations because of number of pivotals in this group the holiday shortened work week. showing gains of more than a The. ‘automotive industry scored point each. the best gain, Ward's automotive] Utilities continued to move reports sald U. 8. motor vehicle within a very narrow range with makers are producing at an an-the exception of Consolidated

trucks a year, a turngut second points to 54%.

Price Controls Cut Supply Of Cattle on Market

By United Press

dling supplies of cattle going to|> >-Pound heavies, $19.50 to $21; packers at the stockyards during| MOSt Sows 450 pounds and under, the first week of the OPS price $1850 to $20. a few $20.25 and compliance program. {most 450 to 600 pounds, $17.25 to

The rollback of prices created | $18.50. uneven and lower market, fell below st Weather Good,

the corresponding!

THE INDIANAPOLIS TIMES _

|duction in U. 8. and Canada this

this week for civil enginesring/

| |

4818 E. 21st St.

James L. Madden, building foreman, and Mrs. Madden are the new owners of this home. They purchased it from Orville Denbo, banker, and Mrs. Denbo. Frank Oakes, broker, sold the bungalow. The house has six rooms and bath.

We Won't Plead | Tit Thisfs.2 [In Downtown ‘Critical’ Area

{mental controls have been re-

realtors have completely aban-| And that new finger reaching doned plans to have this city skyward will be the 10-story Esnamed as a “critical area” by the Defense Production Administration. {Pennsylvania and Vermont Sts. There are several good reasons. There are no other large comThe most important is that such mercial buildings being conaction would prevent all future structed here, according to Oliver jwar contract assignments to In- Holmes, secretary of the Building

{dianapolis industry. | | ould. Stant 6 th {Contractors Association of IndiWou Stu row anapolis.

| When an area is classified as “critical”, government restric-| The new structure, housing 380

[tions of down payments and apartments is being constructed

Restrictions Cut Building

| project only one new tendril in|brighter.” {its jagged profile until govern:

housing sex House now being built at]

4236 Winthrop Ave.

This new two-bedroom house, built by Marbar Homes, Ine. has been purchased by Mr. and Mrs. Frank Curtis, Harry Ray made °

the sale. I's a one-story brick home with a full basement and auto-

matic heat.

Hardware Supply

* * | i A ate Indianapolis Fairy Adequate

{fairly adequate supply. the entire situation much| That's what the wholesale |Hardware Industry Advisory In addition to material short-i Committee has reported - to” the ages and government restrictions, | National Production Authority. the cost of labor has again risen, Some shortages do exist

Indianapolis contractors an 4 moved from building materials. now reaching approximately four nails, hinges, galvanized roofing,

{times its cost in 1939, old con-| metal scseen cloth and a few other tractors indicated. i items. I" Cement masons, laborers and| NPA is asking manufacturers of hod carriers all received a 10 builders’ hardware to simplify |per cent increase over existing|lines to save critical materials, {wages of last January in an|The aim is to use substitute maagreement made this week with|terials for bronze and brass with [the Building Contractors Asso-|out affecting quality. I ciation. { Ser——

| Similar agreements were being Bed ' made with the teamsters, hoisting | side Award {engineers and carpenters. | An emergency appendicitis op- { a —————— eration kept Frank 8S. O'Hara, chairman of the New York State Space Savers Society of Real Estate: Apprais-

credit are eased, However, at the DY the J. L. Simmons Co. with| 1, v,, ure trying to find more ers, from attending the Society's

same are advised not to locate any]

time, other defens neies Offices in the Inland Bank Bldg. nse age and will be completed this winter, further defense work or facilities |

Steel Short {in this area, unless there are no| Iter tree . “Restrictions have pretty well “We looked into the entire pro- engulfed all the necessary buildgram quite-- thoroughly,” said ing materials,” Mr. Holmes comG. W. Mohr, executive vice presi- mented. “Three years ago, 85 per dent of the Marion County Resi-|{cent of the steel produced was dential Builders, Inc, {free for private consumption, but “We learned that to gain these !today contractors can only get 35 credit relaxations we would haveiper cent and that js strictly

22.15; 250 to 290-pound weights to end all further war contracts ch led into buildi tial CHICAGO, June 9 $ 4 anneled into buildings essential focused its attention =r he nation! mainly $21.50 to $21.85; 300 to for Indianapolis, And with the to public needs -— schools, hos-|

tight mortgage condition we have pitals, food warehouses and such.” now, such a relaxation of credit The outlook, Mr. Holmes says, would be useless,” Mr. Mohr sald. |is that speculative building of all Another Look {types shall be sharply restricted Additionally, all homes built|as jong as the controls are con-! would have to be sold to defense tinued, workers approved by the DPA and

rents and prices of all newly con-| Defense Building

period a year ago. So Grains Slide Slaughter steers and heifers! closed mostly 50 cents to $1 lower; CHICAGO, June 9 (UP)—Good

world news.

stéady. {housing problems,

Week's Price Range Almost the entire grain list and Four loads of prime 1175 to|lard registered lower prices in sold at|the trading, where selling exerted! and prime fed steers $36.75 to| Weather conditions termed) good gave moisture and warm| temperatures to the spring wheat! high choice and prime fed heifers |lands of the Northwest and west-| $37 and $37.25; most good and ern Canada, as well as to the soy-| choice heifers $32.50 to $36.25 (bean and corn fields of the Midodd good cows $32; canners and west, | cutters largely $19 to $23; good] However, nature worked bulls $30.50 to $31.50; good 10 against the Southwest where prime vealers §35 to $38; two harvesting was slowed up beloads good to choice B500-pound cause of the moisture,

“green” ~ short yearling stock! Wheat managed to gain some steers $37; most good and choice support from pros % feeding {Suppo prospects of spoil

steers and yearlings ing wheat in the fields $32.50 to $35.50, and choice 940-| In early stages of the six-day pound partly fattened feedersiperiod, peace rumors issuing! $34.50, n : mainly from Britain tended tol ogs Rise {unsettle the markets. But these! n Although receipts of hogs rices bores of peace became less imeavier than a week ago, pricesiportant as the w 4 rose sharply at the end of the! 3ek Inoveq on,

period reaching a top mark for the month. SAVE $$ SAVE $$

Barrows and gilts were 15 to 40; Screen & Storm Windows cents higher and sows 25 cents $9.89 inte higher. The week's top was $22.25 |] Factory to you. instil) hem yourself paid on Friday for choice 100] ud save the difference. to 220-pound weights. AIR-SEAL WINDOW CO.

{ Most good and choice 190 to Tonia RN. Nabinsten 3. LI-m21

Here's the picture:

Contractors are now handling

structed homes would be controlled, Mohr pointed out. |

After favoring the DPA pro- plenty of work, but all of it con-

cows unevenly weak to $1.50 Weather throughout the nation's gram at first glance, local real-!cerned with defense projects. This lower; good bulls steady, other {Arming areas became the influ-/tors and contractors studied = it!includes 8 ef ones Proje altera-| grades mostly $1 lower, vealers ential forge behing Siding grainiwhere it was already being car. steady to strong and stock cattle Prices at the Board of Trade this|ried out. They found general dis-lume of produ . ction, rehabilitati steady to 50 cents lower, mostly Week overshadowing the effect of satisfaction and little easement of of old rg > fation

tions necessitated by higher vol-|

gs, and sewage dis-|

{posal units.

“Builders are usually quite re-|

sourceful fellows,” Mr. Holmes | pointed out.

Dan Green Joins re . a wer I) Pitman Agency | many who found ois over]

Dan Green has joined the sales eXtended. This factor alone makes

staff of the Jerry Pitman Co.,| BUILD YOUR OWN |

realtors. | 4-BEDROOM Mr. Green, a graduate of Short-i 4 4 lumber, hdw., roofing, paint, ridge High School, fought in three| plaster, lath and mill work Pacific battles with the Navy in : the Second World War, He is a $3946.55 owner of TV Sales and Service roger and part owner of Green & Son, jewelers, He lives at 1360 N. Dearborn St. with his wife and three children.

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AN ATTRA a narrow lot neighborhoods The house f 24 feet wide, al bedrooms dow in the unfinisk more small ro a large room original home finished this ¥ The owners two years ay daughter. She downstairs bec boys had the had room for an electric tr: toys expected and ten. The completely fr hubbub of gre

= THE EXTE wood siding w on the gable chimney, trel front porch a looks of this h The interior feature a pers: a home, There the front ent room on the living room w place on the I

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Additional set The Portfolio FAL INCL Name

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City secanses

Home ( Break If Passes

Home owner long deserved tion departme! lation now |

through as ple The House committee has gains on hom replaced—be regulation wh gains as taxal To the home that he could : day's inflated ing a profit fr fing he invest another home “This certair housing,” said president of th Estate Board. “Many peo their homes t cannot afford high. A home for 10 years $17,000 and

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