Indianapolis Times, Indianapolis, Marion County, 14 September 1951 — Page 30
k re : epee
Elmer Gunning For Bulls, Bears
By Harold Hartley : By HAROLD HARTLEY ELMER'S BACK, gunning for the bull¢ and bears. It's a new Elmer, not the same guy who dropped his wad in the twenties.
But he's the same age, And he's got that quick-money look in his boyish eye. He's the . unsinged public, out to "make when you demand of entire fama killing.” ily to know where all the Brokers over the. country can money's going. anyway. spot him. He wanders into. ticke roam, looks wide-eyed at the « ‘Explosive Force’ SHctalons, and nes usually got, 1 KXNow M1 ‘CH T00 little of his roll on him, big enough ‘ th pl ougt 0 ( : choke the cow he sold to get it 8 people I it to know. I am ¢ = » thinking of well-worded Rowland HE WANTS A LOT for his Allen, the personnel perfectionist money. 80 he asks for a 1pt of ©f L. 8. Ayres & Co thini + 1a he wh zx the low-priced stocks which are going aly and. magne he Is ne pp indi \ agnetic apiri 1 to go up. Any honest broker will meet in Av It is he Who makes deliver just half of that, the low- vay say as vou leave, “What is priced stocks there about this store which If the broker were sure they os me want to come back?" were going to go up, he's buy them = He hag a powerful compassion himself, make a chunk, and treat ¢,r his fellow beings. the wife to a new mink coat for T's cofstmas. 5 LAST NIGHT I HEARD him Imer represents e public _ Gifts iv which does not usually play the talk to the Advance G Divistock market. He doesn't know tion of the Community Chest {n
much but he thinks he does. And the top floor auditorium of the
that makes him ripe for a picking. {rnjteq Mutual Life Insurance es °." Building Y WAS AN ELMER once. 1. He talked with intense feeling bought Air-Way, which made a gpout the “explosive force’ which pretty good vacuum cleaner, 81 {5 gathering about the edges of about $4 a share. I'd seen It the town. the newcomers seeking, much higher. And I'd seen Air- ;5p54 insisting that ‘the town make
Way in its heyday That's where I
a on place for them to live. wanted my
dough. Air-Way kicked up a 3 5 little. I thought I had it whipped AND THAT'S THE town's But the broker had to have a problem, he said. to heal and
commission when I bought and help, the discontent and social ir-
when I sold, and that cost money. ritants of this lesser living. . It's the leisure hours. That's
Ela the way he put it. What people THEN AIR-WAY went the 45 when they have time on their wrong way. And an old stock hands which he figured at about
. trader shook his head and said. 40 hours per person pér weék. “Take your loss, boy,.and forget . 4»
ft.” 1 took the loss, but didn't - forget it, and haven't to this day. “WITH THE SAME deep con-
Next. not cured. I took what Viction, arid words which sank in, was left and bought Willys-Over- he called the Chest the ‘short land, just reorganized at $10. That gap,” the quick-acting social adpe sare TM ae juster, which ‘helps people over And preferred. 1 thought, came he ls of despontency. it first in the pay line. I couldn't yy ng Jets them live level,
lose. well-balanced lives. 8 8 What Rowland Allen had to BUT W-O DROPPED to 8. And gay, in his vivid, picture languags, the same old trader came around could well be said in a thousand
and said, “Take your loss, boy.” pulpits. I got tired of the old trader. #4 = And 1 got tired of laiing ‘my | I LEFT AFTER his talk. 1I loss.” ‘didn’t want anyone else's words
So I took the rest, “and made piled on top of-it which might 4 down payment on a car. And gpoil it. there, for once, I felt I got my! At last I had heard a man who money’s worth. {had the feel of his town, and an But if you'll read the next item, overwhelming feel for it. you may wonder about that.
gi
e Moans and Groans— ; a
‘By IRVING LEIBOWITZ “The best things in life are free’ is one song you'll never hear around the Statehouse — particularly in “the vicipity of State Budgst Directdr Lytle Freehafer 8 offic Lytle is known as a “Blues singer.” He moans and groans at the drop of a budget. Lytle's theme song is a familiar one around the Statehouse—‘ ‘We need mer. emoneyv in the bank.” “The latest wail from Mr. Freehafer came in the form of an official report to the Tax Study Com-
- mission, created by the 1951 state
legislature to investigate the overall financial policies of the state. He said it 18 going to cost more for roads, schools, hospitals and public welfare, His findings were; ONE: If we assume continued good general economic conditions, it appears that revenue will not keep pace with expenditures. TWO: If we assume a period of deflation, will drop much faster than expenditures can be reduced THREE: Granting the above conclusions, then additional revetaxes, ugh -must be made available, probably during the years 1953-55. Mr. Freehafer pointed out that four funétions — education, highways, welfare and hospitals-—cost the state the most money and account for 78 per cent of the state's budget. In a rather detailed report of each; he explained that the four functions would have still higher costs in future years Here's a capsule report of his findings: EDUCATION — Under existing laws and with no further change in policy, the cost of state aid to local schools will increase because of the increase in school population. This item is an excellent example of the result when all factors which influence state finances combine to push expenditures upward. For state’ colleges and univer. sities, Mr. Freehafer said, costs will continue upward because of inflation, end of the GI training: program during which the federal government contributed materi.
nue
ally to the cost of higher educa-
tion, higher percentage of high school graduates who attend eollege and the trend toward more graduate and research work. He added that, in addition* more money will be needed for school construction,
THE INDIA... OLIS TIMES
a . « Tr
Chief Sings $$$ Blues
FRIDAY, SEPT. 14; 1uil
it appears that revenue gS
PENNIES FOR POLIO—Judy Bailie, Janet Eivseson Garrison, Margot Lepere, Judy Goodwin and Julie Payne and Judy Baker (rear) were among the Brooks'de Parkway residents who staged a polio benefit which netted 1044 pennies,
Be aul si
Today +Business gyre Budget
Finances Stil
By JOHN V. WILSON | Marion County officials were no nearer a solution of the local
welfare financial crigis: today.
<The County Welfare Board asked the County Council to float| a $650,000 bond issue for funds to pay some 11,000 recipients for| the remainder of the year. | County Councilmen, meanwhile, ! weré generally noncommittal on the welfare problem. But two! Councilmen voiced opposition to) the bond issue. County welfare ceived another blow day when the County Tax Adjust-| ment Board cut 1 cent from the 1952 welfare tax rate. The ad-| justed levy will be 23 cents per $100 assessed valuation.
Dead Set Against It
officials
and Irwin Cotton said they were, dead set against the bond issue, “I don't like deficit financing, | anyway,” Mr. Cotton said. i The Welfare Board suggested]
county general fund for October checks. This amount would be repaid from proceeds of the bond issue. The welfare crisis stems from the recent withdrawal of federal ald because the new Indiana “anti-secrecy” law was ruled c¢on-
Lois
Your Share Is $400—
Biggest Money Bill Near Final Passage
By EARL RICHERT ferippa-Howard Staff Writar WASHINGTON, Sept. 14—The biggest money bill in U. 8 history—85014 billion for the Armed Forces-—-was oh its last lap in Congress today, accompanied by much doubt and misgivings on
HIGHWAYS Because of the the part of the Senators who
{unanticipated increase in the traffic load. changes in the type and ‘speed of traffic, pophlation and industry shifts, the inability to do needed construction during World War II, it appears that there is just not sufficient money available to bear the terrific maintenance costs, replace old and inadequately g§engineered roads bridges and construct necessary new roads, streets and bridges. WELFARE-—In the current welfare controversy, state government Is spending in excess
the
only 18 months age.
voted 79-0 for it. This is about $14 billion more, for the military alone, than the whole Federal government spent last year when we fought a full 12 months in Korea. And it's about $400 for every man, woman and child in the United States. This 18 414 times "more than
and the $13 blillon which Chief of
Staff Gen. Omar Bradley was requesting for the entire military It is bigger than any military appropriations bill pasted during the height of
——= trary to federal regulations.
Estimate Loss
The county Welfare Board estimated Its loss of federal funds ‘would total $1,130.000 for the last five months of 1951. The loss must be shared 60 per cent by - the state and 40 per cent by the’ county. County
Auditor Roy Combs
80 contracts could be let to keep said he would talk with County
airplane plants in -full operation. Council President Howard Morse He said voting this extra money today to set a date for an emer-
in advance actually would save gency meeting of the Council to money in the long run. consider | the welfare request.
Biggest surprise of the Senate voting was adoption of an amendment by Senator ‘Paul Douglas (D. 111.) to limit flight pay to pilots and aircrewmen who Low for Year are regularly assigned to flight Hog prices today were the iow: duties, This would cut out the ést paid this year at the Indianpayment of flight pay to men apolis Stockyards and indications assigned to desk jobs who have were that prices would go even been flying as little as 4 hours !OWer as a bumper crop of spring a month to qualify for ‘the extra hogs floods the market. Bop weight barrows and gilts . enti 3 Bl lows: hedvier weights on Local ‘Stocks and Bonds 12028 to thor: “several Bundres “choice nist f0w loads choice 23
Hogs as Hit New
oft 13.000; moderately active light and Pay. dy: ulky 5 choice 185 to 230 pounds $20 28 to 0.3 wo. $20.40 to 120 50 to 200 pounds 119 40
—Sept. 14 0 $20.25: odd 290 to 340 pounds $13.25 to STOCKS 4 Asked }19.75: 160 to 180 pounds $19.50 to $20.25 merican Loan 5% 20 to 160 pounds a to 319. sows uneven, Beran Steyn peed yndghas Sp 4 ig r “Tow 55 American 8'gtes pid 1714 Pounds mostly $18 to maf} Bad Tots 315 3
Avshint Cel tlerles” wp
A y + yres 4) 3 f05 © Donuts & TV of one million dollars a month jy on soter miliary: expenditures Bolt AR & Sib i Rg ofl | ocilie so. cave 00: share Price Per Mile fmore than was budgeted for this than total military expenditures Beir RR & Stk 3 2 aia nd ae a ataiaritet. Hominalld i THERE'S A LEGEND about ¢ g during some of the War II years. Bobbs- i DIR Ann 3 16 [fteady. thes loads fed heifers bought t 8 U t costs unction. The time of solution of ; t 8- » 2 os Bh + |arrive $35.50; bulk utility and commercia EVER FIGURE what | Columbus making an e stand The bill now goes to a joint Gentral Sova cassie. 39% 42 sows $2278 to 320: eanners and cutters to drive your car? 88 this problem as well as the solu-| iHouse-Senate conference commit- Cane 2 om Som Keak. : Hh 223'% 518 to $23: yealers moderately active, You had some idea, but you/on end. He'diq¥t hy tappg It Yom itself may determine the tee where the Senate's $591: bil- Som Loan doptd lata eed Eo a ne, rio miiy never put it down on paper and lightly, denting the shell. nal cost to the state. With the jjon measure will be compromised Cummins eng om an oath ne Tomer "i latenter. tee tiene. 19 added it up. But the American But yesterday I saw “Nick,” loss of federal aid we have an with the $56 billion voted earlier Ca ves hn pra 108.3 1037 40 cents (Digher: early Bulk ensice "an Automobile Association did. It the sandwich chef at Wayne Sery- unanticipated additional potentialiny the House. Deita Elec com god 1 RVR J We i LARLY surprised me. Maybe it will #ir-lices’ Motorola agency, 2110 ability of better than $25 million) "Senator after senator, as he Eauftanie Securitjes com ... 38 NB fn “hangs: sommerkial prise you, too. Northwestern Ave. with it a ham. during the current biennium, announced his intention to vote Equitable (Securities pid % $ha.s good. 4 32 50 to $30: cutter and utility, Let's take the $2000 car. That's Nick used a little steel frame, Aside from this problem. Mr for the bill, expressed grave con- Family Finance 8% pra... 98 100 . i i about what the average cost 1s. stood the ham upright and Freehafer sald he believed the.cern about where we're heading, iy: SP vind FW ah 3 These figures are Variable; but slithered taste-teAsing slave right] rwelfare- function is-the-only major on military —expenditures...and -§jardl i Tg an 3 %.df%. ~— ~—¥ they're actual, too, in a test. off the .top. But he wasn't the One in which the state could an- about the effect on the economy Rook Drug Co, co com th » os! ER) . 2 » only source of food. ticipate a downward trend in the Of appropriating such a vast f Row Tob 2 4d. wm GAS AND OIL COST about 2.14 et 4 =» {future because of the liberaliza- @mount of money when there was Qu awa oof eves ! Vs 25% eents per mile. Maintenance .68 tion of the Social Security Act. NO all-out war. Several said they Ing Yelepnone 4 £ © nts 2 . : THERE WAS VENUS. 1 could gowever he warned that when Were certain too much money was ndpis Ath Club Realty Co 81
cents per mile, and tires 46 cents per mile. That adds up to 328 ¢ents per mile. lagt name. - It McCabe, a Then you add fixed costs Fire strong wheel in the Services orand theft insurance per year costs o,nisation. me at the $15.79. Property damage and lia-'§,.r. bility for $15000 and $30,000 Then she ushered me to a coffee ¢osts about $59.71 per year. Li- pot and a pile of donuts. The cense fees $18.47, and deprecia- gonuts were made right there, on tion $442.05. These fixed costs the spot in a Chefster french fryadd up to $533.02 a year or $1.46 gr, And the rat was kept hot for a day. more donuts. Tricky, I thought, for a fast-moving TV and appli-
was
She met
= 8 =
HOW FAR YOU drive in & year gnee outlet serving about 300 are changing rapidly from purely 11954
has a Jot to do with cost If ‘you dealers ing53 Indiana counties. drive only 5000 miles, the cost an will surprise you. The AAA puts WAYNE SERVIES is a study 1t at 14.45 cents a mile. . in ‘enthusiasm, big, boyish, blueIt you drive 10,000 miles a year, eyed and bow-tied. He had his 4s most people do, the cost drops 1p59 Motorola TV's lined up like to 8.97 cents per mile. soldiers on dress parade. And if you really travel and 20, pa told me they were built to
20,000 miles per year the cost 18 yaye with slight adjustment, any Picture.
only 6.34 cents per mile.
8 a = the mill. And, I BUGGEST YOU tuck this quency, too. away. It'll come in handy when He talked fringe area,
you figure the cost of your Car heavily in-Terre Haute. in business for income tax. have sold five times as many, It will also provide the answer I had had them
%
gine of the
= &
‘itive treatment programs,
HORNET s BUZZ—Beech rin wil be buh tonight as the high schol Hornets pe home football season. Préparing for their Franklin Township opponents, w ve youngsters.
ais varling. m. 730, are Wi Su Rb St Cn my Adams endo sd Reord
pression” arrives, siderable doubt whether the as-
stop there, but I'll give you her the “inevitable deflation “or de- being voted, but they didn’t know there is con. Where to cut more.
. Sen. Robert A. Taft (R. 0.) re-
sistance cost per person can be marking that it was impossible
reduced enough to cover those who may be added to the rolla. HOSPITALS —As a result of increased medical knowledge, a change in attitude toward mental {linese and pressure from interested groups who arouse public
to oppose a military bill on a final 1 vote, said the huge sum involved
“in the bill and the trend toward
increased military spending pregented a serious danger to the country’s economy. He estimated that total federal expenditures N this year will amount to about
interest, Indiana Medical hospitals $70 billion and bv fiscal 1953 and
custodial care to carrying on ac-! This 1s] an expensive undertaking. result in constantly operational costs. Mr: Freehafer said he found it
It will Wyo), increasing thfough the Senate, described the
will be running at a $100
{billion annual rate. : Sen. Joseph O'Mahoney (D. who guided the bill
amount involved as “But
“staggering.” the truth is.” he said,
difficult to predict and anticipate “that we're in a very critical situ-
the results of the state's financial ation. He said the major fac- property capitalism one of the five color systems in tors which constantly change the stake. This is not a time of peace. ultra-high fre- picture are general economic con- It is a time of war-—cold war and ditions, changes in political and hot war, too. sold social philosophy, pressure of spe- be “1 eould clal interests lobbies, medical and methods.” if technological growth and shifts in population. lion for expansion of air power
advances a n d
-
ay their will be 1916.
|
{Hayward has been given a cold rent
The system of private
itself is at
This problem can’t settled By banking house The Senate bill included $5 bil-
which was not requested by the administration... Only an esti. mated $500 million of this can be spent this year. 8en. Homer Ferguson (R. Mich.), said it was necessary to vote this much advance money for the Alr Force
Just Can't See Straight—
Imagine Someone Giving Susan Hayward a Cold Eye| °
VICTORIA, British Columbia, to the actress by the Canadian Hollywood celebri- government for her aid in war ties visiting British Columbia are time bond drives. having a tough time this summer. ee .
First Bing Crosby was mis- UJ, §. Statement p taken for a
‘Sept. 14 (UP)-
“pum” and refused, ._ a hotel'room. Now actress Susan
|eye in a local bank.
Ku, (Sonerat
Yesterday the actress was turned down by a bank clerk when she tried to cash a check.’ However, after taking off her |dark glasses and producing an]
‘engraved cigaret base, the teller, Glantines For the Debit ;
cashed the ¢heck.
The’ cigaret case was presented. Demise
New Ford V. Pp.
~ DETROIT, Sept. 14 (UP —The, Ford Motor Co. anndunced the election of Arthur J. Weiland,
dent.
{
[general manager of its Interna-| i tional division, as a vice: presi-|
Mr. Weiland joined “Ford tn}
1840. He had been executive vice
President of of Willys-Overland and ior Mouats overseas o al
Indianapoiis Water com *Indanapolis Water 41 afd indian polis Water 59 it Pow & Lt com ga pis Pow & Lt pid Kingan & Co com ‘ Ri ngan & Go pid 64 89 fidianapola Railwave com ! erson National Life com 1 ingan & Co pfd 5 Lincoln National Life 1024 Lynch Corporation 15 iat Homes pfa 10 Marmon-Herri ngton com Mastic Asphalt Nat Homes com (new)
P R Mallory Cocom . _...... Pub Serv of Ind 3s pid .... Pub Ross Gear Tool com ke Schwitzer op Tins pid |. v1 So Bd G&E com ' Bo nd GE& 48% pd . flakelv-Van Camp cam Stokely- van, CATS, oid
Serv ‘of Ind com
Tanner
erre Haute ® Mafioavia’ 1 2 be Haus Co hy 1 Bhited THlanhone 5% pid’ 8 Union Tit] : 8 BONDS *Extra dividend Ailen & Steen 5s 95 American Loan 4's 55 97 American Security 5s 80 98 American Loan 4'3s 60 Pr Ba ain Morly 5s 61 98 sville Tel e Co 4! a5 Be Fertilizer Ss is 97 Ch of Com Bldg 4's 61 ” Culimbiae Chis 3-54 #2 ”
Citizens Ind Tel 45s 61 Eqkuitable Securities 5s 40 9 amilton Mfg Co 5s 88 nédpls Paint “& Color 5s A4 Tndpis Public Loan 58 64 9 Ind Limestone 4s "175 74 Ind Asso Tel 35 75 Indpls Railways 5s 67 Kuhner Packing 4s 59 . Langsenkamp Hs 58 i N Ind Pub Berv 3l,s 13 . paby Arts Coq 58 58 3 Ublic Service 3ige 73 8 prague Devices 8s 60 5 Traction Terminal Ss 87
No Cleaning Problems!
recitiattasmmnn: | WASHINGTON, Sept. 14 (uP) overns ment $XpeNntes ANd receipts f6f the cure scal year through Sept. 13. com-
pared with a year Ae, Y 8 Bis tuned olbari fi freon ao A i Gently circulates heat where y ublie Bet 8. 257.187 | . old Res i $42 srieriet ud] it—at floor level.
| mer. INDIANAPOLIS CLEARING ROUSE cooling unit in summer
LE He
For the Week
FOR SALE
50-Share Block _ United Home Life Insurance Stock
Local Welfare
In Hot Water
re- BB. late yester-| =
County Councilmen Scott Ging,
an advance of $180.000 from the
Evan has a tremendous hea
Revolutionary EVANS BLOWER
Can be used as a
Don’t Delay—See Martmann's Tomorrow!
we
BULL SESSION—Top et aces of "MIG Alley" meet after a tour of MIG hunting on the Korean front. Shown in an airfield interrogation room are (left to right) Capt. Richard Becker, Fleet.
of Oil City.
wood, Pa.; Capt. Ralph (Hoot) Gibson, Mt. Carmel, Ill.; Col. Fran. cis Gabresky, Oil City, Pa., and Capt. Arthur V. Beckwith, also
Too High a Price for Glory—
"Big Business’ Football
Booted by
Jack Cuddy, Page 32 Br United Press IOWA CITY, Iowa, Sept. 14 (UP)—A freshman football star deserted the University of Iowa to play for little Central College because “big time football is too much business and not enough fun.” Arvid Pierson, a husky linesman from Oskaloosa, Iowa, said today that he -doesn’t have a thing against glamorous Big Ten football, except that he doesn’t get any kick out of it. : “When you aren't having fun at the game, it's time to quit,” he said. Iowa Coach Len Raffensperger announced Pierson's departure yesterday, only two days after he had promoted the 210-pound freshman to the Hawkeye varsity.
Won Athletic Scholarship Pierson was one of Iowa's prime catches this year. He was named to All-American high school football téam last season after a brilliant high school
career and came to the university:
on an athletic scholarship. But the 19-year-old decided the gruelling Big Ten training program was too high a price to pay for collegiate football glory. “Football at Towa—and I guess
all the other big. time schools~ |
t's HARTMANN'S for Values! — —
20 ) Trade. In Allowance
is for Your old Heater
: 4 0 2 . 5 87% . t 0 105 i ira 57s 87% ak 18 Nat Bones pfd 1 05 = Ind Pub Serv ¢om ‘ % 24, *N Ind Pub Serv 4 og cp 97s ? N Ind Pub Berv 4'3 Pp ‘sr a 247% *Proeress Laundry oh or i 38 . 44% 29
PAY ONLY
WARM AIR COMES OUT AT FLOOR LEVEL!
¢ Automatic heat controls that pinch fuel pennies! Simple beautiful styling that goes with any furniture!
A wealth of warmth when you want it!
t output! Try it in your home!
Costs No More Than Ordinary Space Heater Fan
ou want
52455
Including Tank!
NO CASH DOWN
AND YOUR OLD HEATER
Frosh Star
is just too much business and not
enough fun,” he said. 80 he packed his trunk and accepted another scholarship offer from little Central College at Pella, Iowa. Only 450 students attend the college run by the Dutch Reformed Church, but two
of Plerson’s old high school team--
mates are students and he Bought he'd be happier there.
‘It Got Monotonous’
“When you play and practice football Ti hours a day. I don’t care how much you like the game —it's no fun that way. “At Jowa we got up in the morning, ate breakfast, went out and had a 3'j-hour practice session in the morning, then went into dinner, went out for another three-hour practice session in the afternoon. went in for supper, and then went back for an 1!5-hour chalk-taik in the evening. “It got monotonous.”
Local Produce
utterfatesPremium. #0c: regulsr ‘7c Es py féchipts, 54 IB4 ANd over to ease 390: Orade A large. 00c; Orade B large 435, and Grade A medium. ‘7et
no_grade. Isc . Poultry —Fowis 4% Ibs. and over. 1354 ander 4!5 Ibs. and Leghorns. 18e: cocks and stags. he and Nn 2 poultry 4s leek
Local Truck Grain Prices
Truck wheat Yellow corn,
Fn $2.40. t Re ‘Hite corn, $1.70
on an
50 Qes
Automatic thermo stat
controls heat as you like
it. 19.95
Open Monday
FRIDAY, 5
[— FR' H
We'll Dress 1 Eggs sn Salad