Indianapolis Times, Indianapolis, Marion County, 17 June 1951 — Page 38

Toy i A. Foon a nin are playing hell with Washington.

2 Co : action

a8 an unnecessary nui-

sls for control's sake) businessmen are willing to so far as to suggest that if there are shortages the government will create them,

Aarket Misj judgme

id that inventories are at an al

es are slipping “ For them, that's butterfifes

‘faith in his own judgment. He's symisgauged—-even it only tempo:rarily—his market. © 4&7 It's true that unfilled orders whave been on the increase, Or that would be encourShuarlly th , Navy, and Force are ntracting for ~n equipment every day. / acturers who get the or“iders—the prime contractors— Ee turn place orders with sub- | contractors, But a time lag mevitably takes : place! tooling up, in getting a matetials, and in converting amb

materials into parts and finproducts. The increase in orders is no offset

controls, ra

$s why President Truman had to seek public supextension of the Defense Production Act. The law June 30. Yet here it is beyond mid-June and no

At the moment, businessinclined to look —

New Rising inventories and declining sales shake a businessman's

Livingston Korea and the lull in inflation President Truman's legisiative

The fear is that the National

SOLD-—This North Side duplex was sold recently to MA.

“

SOLD—Alice M. Brown, teacher at Technica High School, sold this home at 214 W. 44th St. to John Eickhoff, a Butler law student, and Mrs, Siekhof. The sale was handled for both parties by the Jack C. Carr Co

Production Authority will bungle Bertha S. Holmes by C. Barth of the Barth Realty Co. The allocations of steel, aluminum, house, located at 3770 N. New Jersey St., was owned by Mr. and and copper, that plants will have| Mrs, Walter F. Wingentoth. : autos, refrigerators, washing ma- Stock Market

chines, etc., will be cut back, and that unemployment and financial losses will ensue,

The mood reflects current nt uncertainty. Businessmen time high at the very time that

n the stomach,

against the rise in inventories of

Industrials Gain as Rails, Utilities Lose a Few Cents

By ELMER O. WALZER

United Press Financial

NEW YORK, June 16--Indus-! searce metals. trial stocks advanced 3.64 points in their average this week, while rails and utilities lost a few cents.

Editor

that inflation

civillan-type goods. The forecasts of Charles E, and economic stabilizer, don't relieve the inner ten-

Wilson, defense mobilizer, Eric Johnston,

sion,

Wilson and Johnston

insist s still the nation’ major problem on the home front, that shortages lie ahead.

Dally sales averaged a mere 1,232,059 shares. Bonds declined moderately, especially utilities. Commodities and business held! their own.

a Stocks rose Monday, met a little opposition Tuesday and Wednes8day and advanced the remaining two sessions in industrials, Ralls

For that reason, the Federal Reserve Board has declined to relax instalment credit terms for automobiles and TV sets under Regulation W, notwithstanding pressure from automobile dealers,

market.

were laggards until the Friday session when higher May operating Income brought a moderate recovery. Utilities lost in four of the five sessions,

Selective buying dominated the

The olls weré accumu-

merchants, gressmen,

Most business attacks have been focused on wage-and-pri er than production controls. The National Assoelation of Manufacturers and the U, 8, Chamber of Commerce have td reliance on pay-as-we-go taxation and credit regulation to Inflation and cut down consumption.

. ice-Wage Controls

and interested Con-

lated by investors on the high depletion allowance given them which works as an offset to high taxes. The newly split Standard Oil (N. J.) featured in volume and

high, Gains whole ranged to 6 points.

's generally conceded that altions of scarce materials are ary-but the ovarament

REAR I TWA WIA

tural prices, also wants to 4 away with price controls. And John L. Lewis, speaking for the Mine Workers, and Wil1. Hutcheson, head of ‘the

0b ate daminated by ons pow. i That In the fall asing power will outstrip supply of civillan goods.

le-emphasis on Savings plenty of goods, consumers are settling down to being conenn Chicago and New York, butchers report that are refusing to buy red meat-—because of high prices. , and meat substitutes have risen. Price

Therefore, the administration argues that price and wage controls must be retained. To let controls lapse would leave the administration weaponless If inflation takes hold anew, Meanwhila,

refrigerators,

as noted in this space before, Americans are now undergoing a change in psychology. During the war, householders. queued up for meat, butter, cigarettes, candy, coffee, toasters, new automobiles, ete. After the war, as goods became plentiful, they bought freely ~-using savings, if necessary. Being able to buy was a zestful experience,

But now, after three years--1048, 1049, and

Drug issues had gains running | to 5 points, Selected buying lift-| ed the building shares in some instances. Chemicals, metals, containers and special stocks were bid up. At the same time, many issues were sold hy investors re-| adjusting their portfolios to fa-| sues less hard hit than others by taxes, Aluminum Co. of America, traded for years on the curb exchange, was moved to the big board during the week. It was fairly active and higher, Transamerica had a spurt when a Federal Reserve official who had presided at<hearings against the company suggested it be made to sell its bank stock in 47 institutions. Wall Street reasoned such! sale would give the stock more!

bought it for a time. Demand for glass container

41 . DiBalle une a survey by the ' Guild of America ‘families which indi“many ‘families are

| have been . e have been to buy. In May, reof Series E bonds exceeded sales for the 13th con- © gecutive month, That's bound to stop some time. Moreover, the purchasing power of money is ‘down. Bo greater rainy-day renerves are needed for emergenYou can argue that inflation

thins down savings. But you can also argue that it makes

savings obligatory.

shares sent them to new highs

more When it was learned they are

ran up several points to a new! in the oils as a!

value than it was quoted at and

haps, the economizing.

Dodge Plant Completion’

Expected in September J

The plant is expected to be substantially completed early, in September, Don Bixler, engineer for the H. D. Tousley Co.,! contractors, disclosed this week. Originally scheduled for com-

pletion last Wednesday. the con-|®

struction was slowed about two! months by a shortage of struc-|

313

{| Whiter Then Poreslain . , Hard as Baked Enamel . . . Bosy to apply... leaves ‘ne brush marks “ae Up White and Lovely ['® Shining Colors.

a tural steel,

ONTINENTAL =

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Sulphur {issues rose when the {head of Freeport Sulphur indicated that these companies had| |a sellers’ market. Their price is

{fixed at a level less than a cent la pound—so low that foreigners | have stopped their high-cost pro‘duction and are buying from gmerica, thus endangering the supply for the defense effort, and for many other items, including newsprint.

Late in the week, volume picked up somewhat, That rise in turnover came as prices moved higher, When they were doing nothing or |declining volume was down sharply, a situation considered favorable for the bullish element. The Friday total of 1,370,000 shares was the most since May 24. An idea of the type of activity is gained from the 10 most actives jon Fridays That list was topped by Standard Oil (N.J.) and included four other oils—Sinclair,

{hogs, Sheep swung sharply down-| \action in the Korean War touched

|Socony, Maracaibo, and Sunray. The other five issues in the group were General Motors, U, 8. Steel, | {American Telephone, Commercial Solvents, and the lowly National {Power & Light.

Bendix Aviation Buys

Continental Can Plant

DETROIT, June 16 (UP)—Bendix Aviation Corp. announced today that it has agreed to purchase the Utica, N, Y, plant of {the Continental Can Co., Inc. to meet military production.

A new Utica division of Bendix will be established, bringing to four the divisions of the corporation in New York state.

«= REMODELING —

Grains Sensitive to War Ups, Downs

Cattle Sales Rise

COMMERCIAL - AND ; \NDUSTRIAL REAL ESTATE

GUARANTY BUILDING - LINCOLN

CHICAGO, June 18 (UP) — Grain markets held back from,

Check Shortage oon aii buses

By United Press [though potential buying factors, CHICAGO, June 16—Total cat- |appeared intermittently. tle receipts were scaled upwards Grains appeared tremendonsiy] at the stockyards this week, as] {gensitive to the Korean War de-| a drastic meat shortage was, at| {velopments-both on the fighting {front and least, temporarily. averted. | controversy. Prices moved slightly higher. | On Tuesday. General Wede-| Greatest advances were made bY yaver's call for more aggressive!

in the Washington

ward. off reaction in the pits which sent! Cattle receipts were 15 per cent futures up as much as 3 cents a higher than the first week under y,shei from early lows.

price controls, although still] i slightly smaller than the same | There was a good deal of idle-| |week a year ago: {ness on the part of traders, as

Load prime 1314-pound fed | they kept a vigil for the govern:! steers sold at $39; bulk high ment announcement of the new! choice and prime 1050-1425-pound | international wheat agreement. fed steers, $36.75 to $38.25; mod-| But, on Friday, after alloca-| est supply prime steers, $38.35 to| tions and subsidies for August $38.75; bulk goud and choice were made public, the expected steers and yearlings, $32.75 to heavy export business in wheat $36.50; two loads orime 1020- failed to appear. 4 pound fed heifers, $38.65; prime) ————

909-pound mixed yearlings, 38; p YOUR CABINETS BUILT

few loads high choice and price] to suit your needs

heifers, $36.75 and $37; éom. | mercial cows, $27.75 to $31.50; canners and cutters largely $19.50 to $23; utility to good bulls, | ($26.50 to $32; good to prime veal-| ers, $38 to $30.50; medium tol choice feeding steers and year-| (lings, $31 to $36, and good 500. pound stockers, $35.50

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IATE LEASE

of office and comMonument Circle. De-

Phone Riley 7622

PRICES OF HOUSES HAVE GONE TOO HIGH!

Since last July prices of houses for people that really need them have advanced from 10% to 25%-—Result: Homes for families that really deserve and need them have been priced way out of reach.

Today STANLEY REALTY | Brings House Prices Down!

New 3-bedroom houses that are selling everywhere today

ip College

m. to 6 p. WM: Ave. at 106th

Pay Only $

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+ for $12,000 upwards are going to the first lucky families today at only $10,500 at the Stanley building site.

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1100 E. 52nd ST. 105 S. DENNY ST.

BR. 2424 IR. 1192

IM-5558

For Your Added Comfort ... |

You will find our completely re-decorated funeral home restful and a fitting background for a more beautiful, memorable ; gervice. Each and every room is newly carpeted, with a hare ; monious blending of tones in walls; draperies and furnishings . .. and is air conditioned for your added comfort. We are

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2339 NORTH MERIDIAN STREET 2

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WA. 4504 “Servicing Indianapolis families for the past 33 years” : The firms listed below assisted in modernizing our mortuary : KoolVent Aluminum Awnings ’ of Indpls., Inc. : TA. 5288 601 N. Pennsylvania LIL 3877 ial Robert 8. Burke Frank Onasey 2 » Hiner Refrigeration Co. : 241 Virginia Ave. §

The Main Chapel in Our Newly Remodeled Mortuary

os FoF Ew Es

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Som Hom

Planning For* Maxir

This week narrow home providing for convenient liv has designed but it would tive if built cement or cin The design home look mt than it really window, outsi tected front p looks, ‘ Insfde we fi the vestibule to the kitch the large livi rangement wi for the bu: dinette is real arate dining window and make the I place to be | summer. There is a entire house s

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The Portfolio TOTAL INCL Nams

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Synthetics ‘Look Sick

NEW YOR Gustave Fra Holeproof Hc predicted th: years there v synthetic fib make wool Ik Asserting come when s) wool just as silk for all Mr. Frankel which most ¢ out of synthe Nylon and usurped a lar market, and dacron, hold Mr. Frankel dacron the m new synthetic of the prop added that a Holeproof’s p thetics.

Whether or in nee