Indianapolis Times, Indianapolis, Marion County, 24 June 1951 — Page 37
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J ten to tn = Inflation Now #4 On a Plateau
[Iranian Oil Crisis
Chief Factor in Stocks’ Decline
By ELMER C. WALZER
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By J. A. Livingston
United Press Financial Editor - NEW YORK, June 23 (UP)—
ALL OF A SUDDEN, there's an awareness that infla week on light volume.
tion hasn't materialized according to expectations. Business-
men, who were all for building up inventories and expanding plant in the spring, are studying how to moderate lay- market experts said the recession offs and hold their skilled manpower together during slack. [held within technical proportions,
It was estimated that over-all the list contracted by $1.5 billion in value of all listed*shares, and
Many factors combined against
In Philadelphia, Philco Corp. cut television, radio and the market, notably the delicate
refrigerator output. Layoffs were dovetailed into a vacation shutdown. In Grand Rapids, Nash-Kelvinator Corp, reduced re'rigerator production by 25 per cent, laying off 900 out of 4000 workers. Explanation: Heavy stocks { t the industry, General Electric Co. laid off 300 workers indefinitely in Utica at its radio receiver plant, claiming shortages d materials rather than shortes of customers. 3 The ‘édmplaint is that war orders have not come through fast enough. But manufacturers can't| palm off all the blame on government. They overproduced in anticipation of shortages. So much
Some plant expansion programs are sure to be cut back as it becomes apparent that capacity to produce most goods, including defense items, is adequate. As a result, Department of Commerce-SEC figures on plant expenditures—at the rate of $26,000,000,000 a year—may suffer shrinkage at the next count, Businessmen may move from
Iranian ofl problem, In eventofa loss of Iranian ofl to Europe, ofl experts sald the Western Hemisphere would have to fill the gap —a move that might mean rationing of gasoline and fuel oil in the U., 8. | Meantime, the ofl men saw no |outlet for Iranian oil if the British and other Europeans were cut off. Russia could get it only by constructing a pipeline over the
Stocks déclined during the past!
one extreme (fear of shortages) mountains, the oil men asserted to another extreme (fear of sur- and they regarded this an impospluses and depression). “sa sible feat. Even if it could be danger. The U, 8. is still a garri-(done and if Russia could get the son state. But it hasn't “garri- necessary steel, the job would take soned up to expectations.” Hence, more than a year, it was estithe business and psychological mated. letdown. Market Readjusts
# . »
go that the Bawl Street Journal, annual satiric publication of the, Bond Club of New York, sug-| gested that. the country had to/ build warehouses to ‘‘store the shortages.” Business is mixed. Industries like machine tools, heavy machinery and aircraft are booming. But consumer-goods industries are
Oil experts regard the Iranian situation as very serious and hold that {ts dangers may hasten a favorable settlement, but the market readjusted to any eventuality. Oil shares sold off witly the genleral list after a long lift of them had risen to new highs. This sell ing was seen more as profit-tak-ing after a long rise than any connection with Iran. In event
FUTURE ARMAMENT buying Is a strong underpinning against any serious business setback. Manpower will still be scarce in spite of temporary layoffs and curtailments, On the slightest provocation, workers are still ready to tell the boss he can have his job. The quit rate in April was the
three-bedroom home at 7850 Barlum Drive, Westfield Heights.
the social room in the basement,
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THE INDIANAPOLIS TIMES
Ranch Type Brick
The public is invited today to two-car garage’ and an ultra- phone ‘facilities have been ex-. . inspect the gracious ranch type, modern kitchen.
| |
tween the 7800 and 8000 blocks on cement tio, Modernfold doors,/area also has excellent natural Baldwin Block ' the west side of Road 431. {and a total of nine closets, drainage because of a gravel base. aga og nueance The spacious home, built of| The residential subdivision, split] The house and lot, 117 by 189 S Big Four Kaha buff bricks, is situated, on a/into 77 lots out of a five-acre feet, are available for immediate \ Circle Tower Roosevelt scenic hilltop and Includes ja tract, was started in 1049. To possession. A $15,000 mortgage is <t Consolidated Stewart Block knotty pine den, a fireplace in the date, 50 per cent of the lots have agreedble, announced Bob Butter- ! Doctors Terminal
paneled living room, another in been sold and 22 houses have worth, subdivisibn broker. The | {home was built by an enclosed breezeway, oversized) City gas, electricity, and tele- Robert £ Kirkpatrick. {
been, or are being constructed.
Home Open Today oo
tended to the area, The house is fully landscaped, offers service from five suburban thas a thermopane picture win- bus lines: An elementary school {dow, built in bookcases, a bath is located at nearby Nora and a The subdivision is located be-'and a half, French windows, a high school at Broad Ripple. The|
Wee VG Te 7
a SUNDAY, JUNE 24, 1951 BUILD YOUR OWN 2-BEDROOM
Lumber, Hardwood, Roofing, Flooring, Paint, $2890
Plaster, Doors, Windows
Sie
We make pians and sell material on eredit, For Building or Remoodeling problems, see
1560 Mass. Ave, ~~ RUILDERS LUMBER COMPANY
IM. 5558
—— —
IN THE FOLLOWING PROPERTIES
which also
Architects & Builders Guaranty
Farm Bureau Insurance Underwriters
contractor
Cattle Receipts Up 20% for Week
By United Press CHICAGO, June 23—Cattle receipts for the week ending today were 20. per cent over those of last week but 10 per cent less than those of corresponding week a year ago. Cattlemen and Office of Price Stabilization officials agreed that the beef shortage was over for good and with the cancellation of the two scheduled rollbacks, the
KLeiN &» KUHN
Builder's Methods Warner-Kanter Homes Cut Costs, Time Open Today in St. Louis
Continued From Page 37 | cost. This is gained by use of new division in St. Louis will hold a
fluorscent lights, glazed and cera- formal open house for the public mie bricks. today, unveiling their new a i A » p > part“Today we are starting to de-| sign buildings like my classmates Tn '8 in the 3b milliqp project, and I were doing 25 years ago in Developed by the Warner-Kan-college,” he grinned. “We were ter Co., the subdivision will have that far ahead, but today design 211 separate two-story buildings, is quite modern in its approach.” each housing four apartments, It One hundred Years ago last | 2150 includes two laundry and May, the Crystal Palace was built service buildings, 32 garage strucof on and glass in the swank | LOTS: administration offices, and Dears of London's Hyde Park yt|*Miple Playground jad park space. . e entire project covers 60 was the marvel of the Victorian , res, Architectural styles in-
The Canterbury Gardens sub- p=
GUARANTY BUILDING
LINCOLN 3543
les trouble, having ‘sales trou highest April since '48—27
the U. 8. would have to send oil
nation seemed assured of a near-|era. lclude Colonial, Early American,
» . . SOME ECONOMIC SEERS are licking wounds, Business Week magazine remarks that “forecasters who predicted continuous inflation in the first half of 1051 left the consumer out of their calculations.” Consumer scare-buying, after two big booms following Korea, subsided. The New York department store price war ad¥ertised nationally that shortages, at least temporarily, wére passe. Again stimulated by loss-leader selling, new city sales were up 14 per cent over a year ago in the week ended June 16. Throughout the U. B,, department store sales were up 1 per cent. Since ces are about 10 per cent Jices actual merchandise sold 48 below a year ago. "Automobile dealers blame sales resistance on Regulation W. A bigger trouble is the “Immediate Delivery” placards in showroont windows. Regulation W may stop a person of medium income from buying a $2000 new car. He'd need nedrly $700 down and have to pay about $90 per month for 15 months. But that doesn't deprive him of transportation if he really needs a car. He can purchase a used car instead, The used-car
workers for every thousand employed. The general price level reflects the new uncertainty. Cattle quotations are at the lowest level since the June 4 rollback. On both Tuesday and Wednesday, wool prices slumped the 10-cent per pound limit in New York. The RFC reduced the price of tin three times in a single week to
$1.06. Three months ago the price was $1.83 a pound.
Plateau for Inflation
Joseph H. Cohen & Sons cut wholesale prices of men's worsted
$29.50-838. Julius Kayser nipped 75 cents to $2 per dozen off the wholesale price of hosiery. 8uggested retail markdowns: 30 cents per pair.
3 per cent to 10 per cent. The Bureau of Labor Statistics wholesale price index tells the story. It rose from 157 at the time of Korea to 184 in March.
months-—since January—it has ranged between 181 and 184.
abroad, there would be no perceptible increase in oll output, it was said, because the industry presently is running at capacity.
normal supply of meat.
Fed steers and yearlings predominated the week's receipts,
has gone beyond the wildest] dreams of architect Joseph Pax-| ton, its designer. Today glass is
But the effect of this building nnq Modern.
and the killing quality was large-
Others Meet Selling
cals met realizing selling along
cial issues. tered on industrial issues. Ralls! haved best of the major sections. Railroad issues have been con-| sidered backward for a long time and the fatlure of the railroad average to confirm the recent high in the industrial was given as a reason for the market's reversal. Railroads for May had a rise in
suits from a $31-836.75 range t0|.. anyes of more than 16 per cent,
their association reported. As the favorite specials sold off,
{progressed.
‘May Contracts Down | In Chicago Area
tracts awarded during May were {down 20 per cent from April and
Recently strong pharmaceuti-l sents Jower; cows and hulls were
with the oils. 8o did many 8Pe-|,¢ the decline was on utility cows; Heaviest losses wir
also gave ground. Utilities be-|l 00" vo’ wae firm; a modest |
becoming more and more popular in building.
New Trends
Amond the new methods, | products and substitutes coming vealers were mostly 50 cents to|into wide acceptance and use to$1 higher; stockers and feeders 4, because of shortages are: Light weight concrete for supply of prime fed steers went|qir.otural steel. | at $38.25-$38.50; but only two| ,gpnait tile for wooden flooring. loads sold above $38.35; bulk high! marrazzo flooring. | choice prime fed steers and year-| “mminner, better insulated par-|
ly good to prime; slaughter steers and heifers mostly 50
unevenly weak to $1 lower; most
| FOR an excellent lunch
lings changed hands at $36.25$38; the range in weights was 8001450 pounds. | Bulk good and choice steers {and yearlings $32-$36; utility to] {low good kinds $27-$31.75; load
new ones took their places. Se-/865 commercial grass steers $30;|tion. 10 to jective buying continued in all few loads prime heifers §36.50Carpet manu-|gessions although the group of $38.75; bulk good to low prime facturers announced reductions of rising issues dwindled as the week fed heifers $32-$36.40; utility and |
commercial kinds $25-831; com-| mercial cows $27.75-831; week's| bulk canners and cutters $19223; few strongweight Holstein cutters to $24; utility to good bulls
Now it's back to 181. For five) Chicago area construction con-|$26:50-831; prime vealers $40; bulk
{high commercial to choice vealers {$38-839.50; most cull to commer-
titions. ‘Greater use of glass and plastics. { Ceramics and glazed building blocks and bricks. I Reduction of over-ornamenta-
The trend toward use of lgrger masonry units, ! Use of standardized metal window and door frames. |
Folding - partitions.
Radiant heat. Multi-purpose rooms. Step-saving design. New lighted glass ceilings.
“When You Come to INDIANAPOLIS |
or dinner —— remember the SEVILLE—just a few steps from famous Monument! Circle. Wholesome, good foods — pleasing variety — popular prices—assure your pleasure, Welcome!
Seville RESTAURANT
Lawn Fence, All Types Omamental Lamp & Mail Boxes tron Porch Rail and Columns
free Estimate — Easy Terms — Materials Only or Erecled Visit America’s Finest Display of Fences and Ornamental Iron | or Call for Prices or Salesman.
Call TA-2434 ...... 1701 E. 38th St.
11:30 am» 8:30 p.m. 7 NO. MERIDIAN ST. Daily.
Fairgrounds STATE-WIDE SERVICE
OPEN HOUSE." oo
Thereafter by Appointment
F. W. Dodge reported last week.| The May figure was
plateau.
Looks as if inflation's been on 4/12 per cent under May of 1950, cial kinds $28-$37.
$152|steer calves and light stock steers
Good to choice 400-550 pound
market isn’t bare. traty.
On the con-
Indiana Farm
million, as compared with $189|834-$38.50; choice quality partly milifon for April and $172 million fattened 945 pound feeding steers
FORD
+ beat higher prices,
INFLATION, ITSELF, has had Prices Higher 4
an effect on consumers. “50-cent dollar” cuts two ways.
At tines, people draw down 8av- have climbed over their value aj ings deposits or cash R Bonds 10!year ago, according to a recent $49.7 million, upping April by 19 25¢c-40c higher, heavier “weights {survey by the National Associa- per cent, but were 15 per cent steady to 50¢ lower; during the
times, however, when they see their savings shrink in relation to potential rainy-day needs, the re ty to save asserts itself. It's no accident that mutual savings deposits in May rose to an all-time high. The Federal Reserve Board's latest survey of consumer finances reveals that the “majority of consumers are not disposed to reduce savings in order to acquire goods in anticipation of price advances.” Two major factors have, influenced this change in attitude: ONE-—Reluctance to pay preral high prices. = “ATWO--A feeling of poor-mouth. Many families feel either worse oft than last year or expect to be worse off.
inventories Up “Businessmen, too, are feeling poorer” as inventories pile up.
E=CONTINENTAL
Vey 10270 1.8
for May #& year ago.
The prices of farms in Indiana 29 per cent under a year ago. Residential contracts
tion of Real Estate Boards. |under May of 1950.
Eighty - per cent of the cities mss ome ——— surveyed in Indiana, Michigan, Illinois, Ohio and Wisconsin or Fix Heat Units Now _ . ported higher prices. - However, only 27 per cent recorded an increase in sales volume. Greatest increases ported near large metropolitan
were
Non-residential contra... awards|steers $32.15, were 47 per cent below April and
totaled ers under 230 pounds were mostly|
Summer is the ideal time to make improvements in your heat- the closing top was $23.75. Most {ing system, say experts in the 180-230 pound weights closed at re. Plumbing and heating industry. $23.25; 240-280 pounds at §22-§23; | Radiators may be replaced with 290-330 pounds at $20.75-$21.75; {baseboard heating units, and any|and 425 butchers at $19.25; some
$35.25: medium 800 pound “green” LOWEST PRICES Visit America’s finest i of fences and iron work. Display Room 2110 N. Meridian
Hog prices followed a seasonal | two-way trend this week. Butch-|
week’s trading, prices reached the seasonal highs but leveled off at the week end. The week's top was $23.85 but
FENCING—GATE ERECTED COMPLETE
ORNAMENTAL IRON WORK
were reported by 32 per cent of,
the 347 communities surveyed] r YOUR CABINETS BUILT
{across the nation, and lower ! |prices in only 3 per cent. to sult your seeds | Jamestown White
BUILT-IN CABINETS Steel Kitehen cabinets Jordan Bros. 333 W. Wash. LI. 4685 | built and installed ex-
dctly as vou want them. Phens for esti.
RAUP cisiver co. 2451 N. MERIDIAN HI-8998
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Beas of 500,000 or MOTe—~because,, ng syst is 1 ed by/450 pounds and less closed at Fron Me tate Wide: Ter Service of expanding defense industries. "®%: em 18 improv ye : . Unchanged i modern controls, $18.75-$20.50; few went at $20.75; 54 Factory 6544 Winthrop 8 price. . conditions, 450-600 pounds mainly $18-819. J R. 21 Sve 5 Jas a }
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BURNET-BINFORD LUMBER CO
1401 W. 30th. St aX
Strength—Insulation—Safety Style—=Color—and Low Cost in
MODERN MASONRY
You can build an all masonry home with BRIKCRETE cheaper than you can build a frame home painted once.
rd INDIANAPOLIS BRIKCRETE
BE.347
AVAILABLE FOR IMMEDIATE LEASE
6,000 Square feet of office and commer: cial space on Monument Circle. Passenger and service elevators. Desirable business location. For complete information, contact at orice...»
C. O. CRAWFORD, Realtor
Whether you plan a new system, replacing your present one or in need of auxiliary heating we suggest you
See the MODEL HOME—Electrically Heated 1/2 Block East of Shadeland Ave. on 46th St. BUILT BY R. F. McKENNA CO.
| 7850 BARLUM DRIVE
North on Route 431 to Barlum Drive (7800) turn West to this attractive Home.
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RANCH TYPE —3 Bedrooms—Plus
The above home will provide a Tot of real living, constructed of buff brick veneer over masonry. Has large living room with marble fireplace, dining room, large kitchen completely cabineted with Coppes Kitchen cabinets. There are three bedrooms (two for twin beds), and den or fourth bedroom one and a half baths. Screened and enclosed breezeway leads to 2-car garage with overhead doors. Full basement has social room and brick fireplace. Lennox forced air oil fired furnace assures adequate heat. The landscaped lot is 117x189. This and much more for the asking price of
$27,500
WESTFIELD HEIGHTS
Platted and opened in 1949, extends from 78th to 80th Street on .the West side of Route 431, approximately half way between Broad Ripple” and Nora. This 55-acre tract was divided into 77 lots of from V4 to V2 acre
Conventional Loan of $15,000 Approved
| | |! | |
Open Saturdays & Sundays, 1 P. M. to 5 P. M.
GLASSHEAT OF INDIANA, INC. 1227 Central Ave. RI. 3760
ana
STA-DRI PROTECTS YOUR HOME T00 !
<
YES—STA-DRI applied on | porous masonry STOPS the | sneak-thief, “water leak: [sao age,” that steals your com- | = fort, robs your piece of mind and walks off with the vaiue of your home! Easy to use
—————
—C
SPICKELMIER CO.
1100 E. 52nd ST. BR. 2424 1 105 S. DENNY ST. IR. 1192
“beautifies as it protects”
922 Electric Bid. Phone Riley 7622
in size, more than half having been sold at this date. There are 22 houses occupied or under construction. It is a quiet, convenient section of home owners, all streets are dead end to reduce traffic hazards, has City gas, phone and electricity and is served by 5 bus lines.
BUTTERWORTH & CO.
Realtors—Brokers
6302 Guilford Ave. BR-2419
ROBERT S. KIRKPATRICK, Builder Pioneer Builder in this Sub-Division
5640 Guilford Avenue !
Lumber & Millwork Adams-Rogers Co. 950 Drover St.
GL-1568
Lumber & Bidg. Material
Homestead Lumber & Coal Co. 42nd & Winthrop Ave. ~ HU, 1138
MA, 5455 Bldg. Material & Windows
Potter Coal & Material Co. 3518 E. Washington St. IR. 1163
Landscape Architect & Contractor Frank A. Hamp 6351 N. Keystone Ave, BR. 8989 Painting & Decorating Contractor C. Russ Cramer "Color Stylist"
Floors laid by Wm. A. Banta Flooring Co. Kenneth E. Stark
2426 Catherwood BL. 8545 ‘2028 Brookside Ave. IM. 1179 wal and, Junp Cement Contractor 1429 Woodlawn Ave, MA. 9003 Fsquale Burbiey) on. 887
3041 East 38¢h Sb.
SUNT 4] Houses 83F
hig: 1 & "ali.
Colored | Newly decor
VACA 2402 GUILFOE
STUDEBAK 1630 SHELBY COLORED: 4 North. $150 modern single COLORED, 30 mod. full Realty, LI-056
COLORED — 3 mod. $7500 L1-9568,
COLORED,
Hughes Realty I —————————————
42 North
cated at 4 a beautifu shade tree It is ideal rm. 36'x18’ place, din modern wi ber tile fi There is 8 baths. Ups 1 small b bath. A fu Chrysler o gas wate freeze and drives to ? only. L. M Blakeslee,
JACK
635 E.
ARDEN—4 Wi
OPE. New br situated of Spacious fireplace, ¢ minute kit rooms wit basemée breezeway rage. Ofl MA-3379.
BRUCE
Realtors Ci
RHINE Rea
Indiana's |
8551 2-Bedrm, eated In Nice lv. full base. hot water 1-car, Ear riced at i 4% | assumed of contract. I TUCK
6485. :
Fr. CTUCH
OPEN ? 4033
This is a I earpeted, liv. ! cabinet kitche full bsmt.; oil for shopping, Mr. Seaton, B! HAYNE
“There Is a ! GL-2223 460
8520 C 1940 BUN Good | homes, 8 C frame hor
i m., mod
Aur, Stone 1 an Y shower, tile en din. tm, bea knotty pine SO 2.081 ok other JOE BE}
Realtors ci
852 4-Bedrm. br find extra 3-mother-in-law 32-ft, Hv. rm peted, mirrore baths, twin-si: BA rans. 8S 325 GUILFO!
room 2-ba on second Carpets on lent home Siildien of r., Argus, » AMERIC. Realtors 333 ——a— 6400 N.— In fine cond old. Two bdrm baths. Dishwa oil furnace, Pe work; 2-car © unusually attr at $24,750, 8 arranged.
HARRY I REALTORS _ a T
Substantial tion, Living re inet kitchen, floor, 4 lovel on second. Ser rage; large lof trade for dout information, | RI1-1314, Dick |
ATKIN GIL CAR 51 2-Bdrm., 2-8 rated. Has Ia room. Full s
Toms that, ar each. { BR
att. gar. fenc B.
ASSOCIAT 6325 CG
3 BEDRMS. e
“BEDROOM _ sleeping por en, electric di disposal, activ torm windows ouse in exce y appointme AT-1730, TA-