Indianapolis Times, Indianapolis, Marion County, 14 October 1951 — Page 48

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PAGE 48

Nort

Business Outlook—

hwest

Stocks Strong

This Week Fights Problems Despite Holidays

By J. A. SEATTLE, Oct.

moment has lost its boom, but not its

Livingston

13—This is a boom .area that for the turned strong

bounce. That's be-

By ELMER C. WALZER United Press Financial Fditor NEW YORK, Oet. 13 Stocks

movements accompanied trading in the first few

narrow bv dull

cause lumbering has had a comparatively poor summer. days First, because Regulation X restricted mortgage credit and The list was belabored with

home building; second. and equal--

ly important, because the weather

‘has been. unseasonably no rain. The timber has been humidity exceptionally ‘fira hazard was so great, conservation authorities ordered halts in Jogging opera-

sunny

dry, the low. The forest

tions. A carelessly tossed match an unsnuffed cigarette, and, poof! millions of dollars of a

waning national resource would go up in smoke. All this registers in unemploy-

ment statistics. In Washington, more than 4000 workers in jogging and allied industries

drew unemplovment benefits _durA year: ago the

FRI TTR

Sa great haw tee

‘the loss of production that .Ore-

gon has granted loggers permission to haul lumber on Saturdays and Sundays. Customarily, giant trucks must yield the highways to week:end motorists,

Thank-You-Ma'am The letdown, however, is regarded as a temporary nothing a thank-you-ma'am on a steep and ever-climbing hill. The here-I-come pioneer sgirit still motivates business men. To most persons in’ the Pacific Northwest the business outlook is as clear as Mount Rainier on a cloudless day: More inflation.

A person with reservations Is a pessimist-—-and that's all there is to it. Agreed, the Mull in department stors sales has affected this area. Yes, used cars are sticky. And, of course, some. industries are having a time getting steel and other short materials. But those are petty annoyances juxtaposed ‘against such facts as these:

Svattle is the nation’s major embarkation point for the armed forces in Korea. That means bumper freight carloadings, busy ports, and high payrolls to stevedores and truckers. Seattle is likewise the main port of dispatch to booming Alaska. Military installations there require immense amounts’ of materials of all kinds. So rapid has been the growth that since 1940, the deposits of the First National Bank, of Anchorage, have increased from $3 million to $30 million. Aluminum plants of all of the big thiv:e companies are active ~Aleoa, in Vancouver, Wash, across from Portland; Reynolds, at Longview, Wash., and Troutdale, Ore.; Kaiser, at Spokane, Wash. Main fear: A

have

the:

power shortage, because ot light rainfall. Defense expansion is under way at Boeing Aircraft, in and around Seattle. A secret bomber is under construction at Renton—protected from prying eves by a canvas enclosure. At Pacifie Car & Foundry more and more work is being done on self-propelled gun mounts. A stranger here ig quickly in his place if he talks of the “lumbering industry.” It's the “forest-products industry.” In the

put

‘twenties, logging was primarily for building. But now diversification has taken place. There are

factories, plywood More and more

furniture plants, pulp mills.

ished products, which gréater economic stability.

East-West Merger As an example, the Soundview Paper Co., of Everett, Wash., has entered into a merger agreement, with the Scott Paper Co.. of Chester, Pa. Soundview is a leading manufacturer of bleached sulphite, which Scott uses to make toilet tissue, paper towels, and facial tissue. In good times, like now, pulp commands. a high price. But in poor times, the big profit margin is in the finished product. The merger assures Soundview a continuing outlet for pulp and it assurez Scott, because Soundview’'s ‘rich timber reserves, a continuing supply of raw material. Scott production. perszonnel are out here planning to build

impart

a paper mill, once stockholders of both c¢ompanies approve the deal.

Not only will that mean a =aving in processing costs pulp will flow directly into finished products—but also Scott will save in marketing. Scott products will be made on the West Coast, in greater quantity than now, to take care of the expanding market: Farmers share the regional ebullience, too. The apple crop has been poor; likewise, some vegetable crops. But the grains, particularly ~ wheat, which are big cash-bringers, have done exceedingly well. Wet weather, which has delayed harvesting in the Dakotas, hasn't bothere farmers here. Livestock receipts are also good. As everywhere else, farmers may not feel quite so prosperous as a year ago. Debts have increased in recent years faster than quick assets -bank deposits, currency, and U. 8S. Savings Bonds, This is partly because of increased mortgages, partly because of increased financing needs.

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of a bit of attention.

holidavs Thanksgiving in Canada, the Jewish day of atonement Yom Kippur, and Columbus Day The market closed for the last vesterday and reopened for the short session today.

Early in the week prices moved irregularly. in the averages while special issues took the limelight

Profit-taking came the leaders. What

into some of

pleased the trading element was the fact that volume lightened when the market was irregular and picked up later

when prices turned higher. All in all the market was judged favorably by the analysts, many of whom saw nothing in the news to w affect prices.

This week's ‘moveménts- were as at least a mildly stimulating cows. gained 50-to-75 cents and

I Pa ER AT rE RRO A SK RR I RN A AN I I RO (a AR RA FE YRS ENR TH SISTINE EOP WH HOR REST

situation than by outside news, Here and there. a stock would rise on an! extra dividend, talk of a splitup or- a. grapevine dispatch that uranium might be found in its back vard. Amerada brought in a new wildcat well in North. Dakota, that fabulous Williston Pool, and the issue soared to a new high. Several other oils joined upside but an equal number declined on profit-taking after a long advance hag. lifted them to new highs.

Traders Play Steel The traders

to like the steels on Thursdav and that group had a good rise that left it about unchanged on week. . Word that auto makers may be able to turn out near a million passenger cars htis quarter sustained that division.

Farm implements were bid up

late in the week but not enough to overcome losses earlier. Liquors had a good market on Thursday as they looked for heavy sales before new excise taxes are effec-

tive. These companies, like the mercantile establishments look for fairly heavy spending this Christmas. Railroads did little in their average on the week. Some bf the high priced ones like New

York & Harlem performed well. That issue ran up 50 points to equal its high just before the Co lumbus Day holiday. Allis Chalmers which rates as an electrical equipment as well as a farm

equipment had a wide rise to 1a new high. Corn Exchange Bank enlivened the small financial

share section by a sharp advance. For September, the President's economic advisers said production rose 2 points in the federal reserve index. They found total production for the third quarter running at a record annual rate, but corporation profits for the quarter

fell off bv two billion dollars.

g late this week after

it on the

. the week, gave several groups

They seemed

the

‘which

THE INDIANAPOLIS TIMES

Livestock Prices Tumble, Hogs Equal Year's Lowest

; By United Press CHICAGO, Oct. 13 Livestock

prices after advancing in the past few weeks fell off this week. Following an unseasonal ad-

vance,.the country marketed hogs liberally early this week and prices declined sharply. Cattle receipts were unusually

small for this season of the year, being lighter than last week and nearly a third smaller than this time a year ago. The most severe decline of the season dropped hog prices, $1.25 to $1.75 and at jnid-week prices stood virtually as low as at the vear's low time in mid-September. The losses slowed the movement and there was some recovery on Thursday and Friday.

Monday Week's Top

The week's top $21.85 was paid on Monday with low top $20.80 on Wednesday and closing top at $21.15. Top hogs ranged in weight

from 200 to 260 pounds. Most choice 180- to 270-pound weights closed at $21 to $21.15 Sheep and lamb prices tended to strengthen somewhat this week, with recent activity in for-

eign wool markets being regarded

ing prices o on fambs were steady

Week's Grain

Soybegns Continue Strong

By United Press CHICAGO, Oct. 13 Sovbeans

held independent strength on an otherwise easy to weak market on the Board of Trade this week. Although bean prices lost ground during the latter part of the gains made earlier could not be offset. The market ‘turned firm Monday after the issuance of the cotton crop estimate which was lower than trade ex-

pectations. Also some buying was

influenced by the U. 8. Department of Agriculture export program announcement which in-

cluded oil seed for November and December clearance. Rallies in the bean market were not very impressive later in the week as selling was induced by favorable harvesting weather and the fact that traders expected the government crop estimate in soybeans to be revised upward. Corn Fluctuates Corn futures fluctuated back and forth this week but ended about a cent a. bushel lower on most deliveries. Corn prices advanced during mid - week before the government corn crop estimate but fell off after the issuance. Reduction in corn prospects according to the report was much smaller than traders had generally expected. The wheat market had a rather featureless week and usually iollowed close in the path of corn. There was some buying of wheat by milis and also some support induced by the announcement of expected wheat exports for November. Oats and rye largely reflected the trend of other grains. Oats met some. pressure, a portion of

to strong, cents higher and sheep strong. Compared to Friday a week ago, good to prime native slaughter lambs went at $30 to $32, the

*latter being the week's top price

and closing top. Utility to good lambs were £26 to $29. Most culls were $18 to $25. Yearlings

went: at $27.50 to $29.50. Steers Predominate Fed steers and yearlings predominated the cattle market as the offerings mainly of high good to prime grades with utility and commercial kinds were in

usual, consisting

very scarce. Heifers

supply and graded mostly goad to low prime A two way price trend developed with steers and heifers selling weak to lower and cows and bulls strong to higher. Outlet continued narrow for slaughter steers and heifers with major packers operating sparingly, but all interests competed for cows and bulls Slaughter steers finished barely steady. to 50 cents lower and heifers lost fully 50 cents, but

normal

very

cents Migher >

Market Fay.

against Canadian oats, Rye 'ignored periods of firmness .at outside markets and was more inclined to reflect the trend of corn. Compared

to Friday a week

ago, wheat ruled ', cent a bushel lower to !y higher, corn to 1 lower; oats '; to 173 lower: old rye 1, lower; new rye 1; to 2 lower, soybeans 3% to 2', higher; lard 60. to 85 points a hundred pounds lower. Weakness in the hog market this week in which

supplies were comparatively large adversely influenced lard futures. Despite the reversal in the downward trend in hogs late in the week, lard prices remained off because: of lower selling prices for loose lard.

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*isylvania St.,

North Side Sales Over Half Million Reported for Week

Sales report of the Associated North Side Realtors was up again over the half million dollar mark

this week; announced Chairman Willis Adams. Forty sales were reported at a total value of $522,077. The sales: Bruce Savage Co. — 8528 Col-

lege Ave, lot 25 Stout's Kessler Crest, co-operating broker Durham Co., 5348 Central Ave. 4323 Kingsley Dr. 2814 Questend Dr. 7130 E. 13th St. 5331. Washington Rlvd. Butterworth & Co. — 6545 W. 11th St. 6555 W. 11th St. 2020 E. 65th St. F.C. Tucker (C0.—8081 N. Pennsylvania St... 8647 College Ave. 3429 Butler Ave, 56268 EF. 21st St. John Max—Three acres east of

96th St. near Haverstick Rd. and Route 431, 5620 Broadway. Fred T. Hill Co.—3162 N. Capitol Ave. ) Haynes Realty Service — 4839

Rosslyn Ave., co-operating broker

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Evans-Bromert Co. . 6160 Indi-

Ford Woods & Co. anola Ave. ' Hall-Hotel (Co. 79th St., onehalf mile east of Rt. 421, 28 E.

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