Indianapolis Times, Indianapolis, Marion County, 16 September 1951 — Page 40

PAGE 48

Business Outlook—

The Prospects On Prices

tactics i

A Red attack that threatens to during push United Nations troops off Post-Korean buying the peninsula would tip the U. economy off its dead-center. other. wave of consumer buying might be started. Business men,

now

dominan

lull,

anxious tories, would alter.policies. Inflation and shortages would become into heavy t “economic incentives,’ chattering the present economic

By THE PURCHASING POWER of the dollar—inflation gained a or disinflation—is likely to be set in Korea. phase of the war will not last indefinitely. will find some face-saving method to attain a truce or they'll

be: goaded by Gen, nto an offensive.

A. LIVINGSTON

An-

Van Fleet's

promotions to keep close to 1950 sales. And profits are being . squeezed on three

However, at the moment, most counts:

people are not in a buying mood.

Gross margins on staples have

The announcement of another been cut by price regulations.

markup

automobile chilled automobile dealers. Some merchandise constitutes a greater

prices

Markdown (low-profit-margin)

decided to absorb part of the In- proportion of sales than in '50.

crease, to Packard

all,

rather already

“difficult” indicated it

Cure High Prices

Someti inflation

pay high prices, As one retailer put it, the public has been fooled. Immediately after Korea, people were panicked into buying for fear of shortages. But

thers were no shortages The public apathy shows up in in department A big markdown sale will bring people in. They'll buy if the won't Sales of fall clothing have not come up to manufacturers. Men

the stores,

price is buy othe

the

slow

hopes

mes, the best

is inflation,

traffic

right. But r things, too.

than pass

they

it buyers. would not take advantage of the ruling at

cure itself, ple are cither priced out of the cregit. market or they simply refuse to .redit

Warm weather is a factor.

don’t buy topcoats when theyre still going around in seersucker

and tropical worsteds.

Retail

The percentages tell the story.

Squeeze

During the first half of 1951,

ing the week ended June 30:

Week Ended

Per Cent Change From 1950

department store sales averaged 9 per cent ahead of 1951. signs changed to minuses,

But plus start-

June 30 or. iiiiriiis

July 7 July 14 July"21 July 28 Aug. 4 Ang, 11 Aug. 18 Aug, 25 Sept. 1 Sept. 8

To be sure, comparisons with h registers don’t register it.

tresses esas tess eras anne teres ssa tress satire Tess es sara Pees esesrarnnne ses ers issn anne 1 » Sesser

tess sss esennnns

secant

4 3 2 2

BIG 9

Finally,’ expenses are up all along the line—wages, shipping costs, fixtures, redecoration, etc. Korean Implications As 1 see it, consumer psychology is similar to the psychology that

I prompted Congress to loosen on Regulation W on Regulation X on

tures of the ‘Defense Production Act. The war in Korea has ceased to be urgent, we can take the defense program in stride. we're not going to be severly pinched for consumer goods. Back of that economic ment

judgis a military judgment. When Malik paved the way for truce negotiations, it was pretty clear that Red China was losing the war. A cessation of hostilities—a stalemate peace— seemed a way out for the Reds as well as for us. That still stands—in spite of the difficulties at Kaesong. United Nations forces have shown they can take care of themselves as well as the Chinese Reds. Therefore, a settlement is always possible. If one comes, the lag in defense production, already evident, may continue, Even though cut back, civilian supplies of most goods would be ample, The administration, of course. is still emphasizing inflation. It must be prepared for the wors.. And, no doubt, inflation would have another go, if the Korean war intensified. Furthermore, once present high inventories are

‘worked down-—both business and

household—a new surge of buy-

* ing could take place.

But, as yet, inflation lacks zing. At least, ‘department store

The current Either the Reds

merchants were hopeful that after Labor Day dollar volume would curtail inven- rise above '50. Instead, stores have been forced

up consumer housing , and the price control fea-

“is expected to get more attention

cash tain the rise which now is con-§ 1227 Central Ave. PL-3760 founding the experts. EE ———— LE TR a SOS

Stock Market Most Active. Since February

Uni"The

s Sixteen lectures -at Butler =versity this fall to present

By ELMER C. WALZER Inside of Advertising” as a three United Press Financial Editor hour course in the evening diviNEW YORK, Sept. 15—8tocks sion. billion dollars during

Prof. Rosamond R. Jones, a member of the journalism department faculty, is course director, Members of the education committee of the Advertising Club of Indianapolis, of the

the past week in the most active trading since Feb. 10. The market ran up to new highs since early 1930 and closed only slightly under the best levels.

- sponsors Sales averaged 2,185,786 shares ea : . k 1950 weren't expected to be good yaiv . course, include Jack C. Greig, re- " Fa search director, Spencer Curtiss July August. The vlvsahyis trariar oy a PT of ' ' Jujy and Augu a1 vial issues rose 217 Inc. and Kaiherine Cleaver. adSpree ‘look poilits In their Average while vertising director,’ Continental Op8. place in the summer of 1950. But rails gained 1.63 and the utilities {jea) Company. Both are assisting

were up about a quarter point. with the direction of the course.

As in recent weeks, best de- Every Monday mand centered on the oil and “Yery Monosy metal shares outside the rail de- , Classes will meet each Mon-

partment which led other sections in percentage gain. Gains in rhetals ranged to more than 9 points in Reynolds Metal which ‘has been working on a substitute for tin. That company’s preferred soared 33 points. Alunfinum, Itd.. ran up more than 9 points. Advances of 2 to 6 points were made hy American Zinc issues, McIntyre Porcupine (gold), Freeport Sulphur. Cerro De Pasco, and American Smelting. In- the advances of 1 to more than 3 points were set by a

day throughout the first semester at 7:15 p. m. in room 227 of Arthur Jordan Memorial ‘hall on Fairview campus. Lecture personnel who will lead discussions include William A. Dyer, general manager, Indianapolis Star-News, Sept. 17; George A. Saas; president, G. 'A. Saas & Company, Sept. 24; Richard E. Smoker, market research director, Indiana Farm Bureau Co-opera-tive, and Jack C. Greig. research director, Spencer Curtiss, Inc.,

oils Oct. 1; Arthur 8. Overbay, presi-

THE INDIANAPOLIS TIMES _

"Inside: of Advertising’ Is New Butler Course

Livestock Market Sr Receipts Strong.

Outstanding local adv er{ising dent, Typographic § = I IW. WM executives ‘and public: _ relations pany, nec., anc eese, personnel will deliver a series of manager, advertising design and

production, Eli Lilly & Co., Oct. Hog Supply Up 8.

Louis 'D. Young, advertising. di By: United Press rector, Indianapolis Times, Oct. CHICAGO, Sept. 15--Cattle-and 15; .B. K. Mason, Chicago repre- hogs showed marked increases in

sentative, Saturday Evening receipts in Chicago's livestock Post, Oct. 22 and Oct. 29; Lin- markets this week and sheep held smith and George Holtane, Gen- generally steady except for lambs ral Otdoor Advertising Co., Nov. which dropped as much as 50 5; Gene Vaughn, sales, and David cents in the later part of the Milligan, promotion director, week.

WFMB and WFBM-TV, and Rob-

Hog suppplies were the largest

ert D. Enoch, manager WXLW, in some two months. Total saleNov. 12, able supplies were the largest Exams Jan, 21 since last June, Butchers were 25 to 50 cents

Co, ployee relations Roger public relations, Allison Division General E. C. Unser, plant superintendent, Wm, B. Burford Printing Go., Dec. 3; John W. Knowlton, public relations counsel, New York, Dec. 10; Caldwell Larkin & Co., Inc.

motion, Jan. T,

Cordon Mess, Nov. 19; C.

Circle Engraving A. Gillespie, emsupervisor, and Fleming, director of

lower, with sows largely 25 cents off; closing top of $20.65 set a new low since Dec. 22 of last year, Week's high was $21.15. Closing ». bulk choice 180-270-pound butchNov. 26; ers went at $20.25 to $20.60: around three loads 230-250-pound butchers traded at $20.65; most 160 to 180 pounds at $19.00 to $20.25; butchers over 270 pounds scarce, around 300-pound weights nominally quoted at $19.50 to $19.75; choice sows, 400 pounds and less, closed at $17.00 to $19.00;

Motors Corp.,

Hill president, Hill &

Dec. 17; WilSears’ sales proand Charles A,

fam G. Holley,

Gallup, vice president and gen- 400 to 500 pounds at $16.00 to eral manager, Bozell & Jacobs, $17.00; 500 to 600 pounds at Inc., Jan. 14. $15 50 :

conclude the series.

$15.50 to $16.00,

Sheep receipts were larger than last week and the consist of the

Final examinations Jan. 21 will

shell APpoinic

H OWARE Inc. t HAR nc. s Manager : Ji a Sovusitucdy of & i aucdyial Soma C. Mueller, sales manager SEE in Ro Oil Co.'s St. Louis Mar- | uy Keystone at 52d ....BR-5454 {keting Division, will become sales }- novo Branch ..........BR-6863 manager _ in Indianapolis about Castleton Branch ......BR-0415 Sept. 15, C. L. 2 Kluck," division set pei manager for the

company announced week.

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started in DeKalb, Illinois. west, Iowa, in 1937.

Cincinnati, O., and in 1938

manager in the Albany, N,

marketing. division. Mr, Columbus, O.

sales manager there before ing to Indianapolis.

Individual Control

Convector-radiators may be ob-

‘work with Shell in 1926 as a salesman After holding various sales position in the Midhe became area manager for the company in Des Moines, The following year he was made district manager in

Jordan joined Shell in 192! as a serivee station salesman in After serving in various sales positions in the Midwest, he became district manager in Cleveland in 1938 and was later

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long list of stocks. A few of : crop was fairly well divided be tained with individual dampers! ORNAMENTED IRON WORK them showed declines \on bprofit- Most { raders Sur rised tween native lambs and fed year- controls, so that you can close the Free Estimate—Easy Terms taking late in the week. Chemi- Pp lrg Wetnes i “ damper in rooms not in usa: or | Free State-Wide Busineering Service 'Y x . native 3 y ’ Factory 6544 nthrop cals were up 1 .to more than 4 ° ulk good to prime open it wider where more heat is | BR, 5421 . : : . slaughter 1: s we t $31 to . Eves. BR. 1245 IR. 8663 ts. Farm mplements were % ( hu ¥ Si m slaughter lambs went a needed. Da pen y rain u ures u £39; with the top at $32; cull and ——————

Aircraft Strong Aircrafts had a good week on their ‘growing backlog, of orders. Autos held about steady. Steels were firm. A feature that eluded attention because it was not as spectacular as the oils was a slow recovery in mercantile issues. That group

: By United Press CHICAGO, Sept. 15 Grain futures finished the week generally lower and surprised most traders who had thought that gains of the previous week would extend into this week. Soybeans, after selling at $3 a bushel lost almost 15 cents a bushel in the September contract

as sales increases, now predicted, and actually ended the week materialize, = under. last Friday after setting The market -rose on Monday new highs.

and then lost the advance Tuesday on realizing. The market moved higher on Wednesday and Thursday with the industrial average at a new high fer more than 21 vears on the latter. The week's close was down only a few cents from the top. During the course of the week, many issues moved up to new high ground. The increased volume reflected greater attention being paid to speculative issues. Many stocks hitherto be- . hind the market were bid up. The Friday's announcement that the general public was said to be government had broadened the entering the market on a much support price program to permit broader scale. lower grades of wheat under loan until it can be marketed helped to recover some of the week's losses. ‘ Glass Heat With

ELECTRICITY

#® Glass Heat of Ind. Inc.

Wheat, corn and oats moved in a similar pattern, all three of the cereals falling behind last week's prices about 1'; cents a bushel on most contracts. Compared to Friday a week ago wheat yesterday ruled '; to 13% cents a hushel lower; corn 33 to 11g lower; oats 4 lower to 1 higher. Old rye 1; lower to 3 higher; new rye 3s to 13% lower; soybeans 13 to 2 lower and lard 18 lower to 62 higher.

Investment Buying

Heavy investment . buying In high-grades went ahead also by investment trusts, pension and other funds and some insurance companies. Inflation fears were reportedly playing a part in sending up the volume of transactions. Business statistics helped sus-

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» week as continued reports of ¢ool weather and unseasonable rains

- 5 to prime fed yearlings topped alternately raised and lowered 2 at $29.50: bulk good to Prices. : choice No. 1 skin yearlings at Late Friday, Wilson & Co. an- $27.50 to $28.50: feeder yearlings

nounced the cessation of slaugh-

and an additional week in every accounting period, pected that this news will be immediately next week.

main quiet this Germany was a purchaser & 1.3 millfon bushels of U,

Holland was reported to be in the market wheat.

held up and finished the week 62 points a pound over last Friday.

$16.50 Per share,

Commission.

r YOUR CABINETS BUILT || © For Residences : to suit your needs ® Estates ® Factories ] Jameson White ® Schools SE ® Institutions

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utility kinds traded at $20 to $29; with suitable culls bringing $26.50 down on replacement account, others to killers $20 to $25; choice

Weather plaved a dominant ole in influencing the market this

went at $26.50 to $27.25; choice yearling breeding ewes at $30 to $35 per cwt.; 2 to 4-year-old 156 pound native breeding ewes $20 per cwt.; most cull to slaughter ewes $11 to $15. A high week of cattle receipts brought prices up to around 50 cents higher than last week but well below a year ago. Four loads prime 1144 to 1370 pound steers sold at $39.65 to $39.75; pulk fed prime steers and dong yearlings traded at $38.50 to

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week

It was ex-

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