Indianapolis Times, Indianapolis, Marion County, 23 November 1951 — Page 31

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Dividends Declared

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FRIDAY, NOV. 23, 1081 ri (lo oo

Today «Business Living-Cost Pay Hil e

Inflation Brakes Still Greasy

By Harold Hartley

THERE'S STILL GREASE on the inflation brakes. And federak contrgls are doing anything but con-

trolling.

The only real controls are prices and taxes, both going |

up. The OPS is loose as a goose,

and so is the WSB (wages). [1 Inflation will stop ftself, as it|}

always does, when the bubble! gets big enough, and thin enough. Or when people are taxed out|

: of their buying power. But the. one who will create | |

surpluses, some unemployment, and hammer prices down is you, the consumer. " » #" THE WORD THAT automobile prices will go up Dec. 1 is a tipoff. On one of these increases. buying will stall. Right now, you can find dealers) who will tell you there has been some stalling on the part of the consumer already. And car production has been. cut back 40 per cent. What puts car prices up, the manufacturers point out, is the escalator clause (automatic increases) in the UAW contract. = s = BUT THE UAW SAYS wages should go up without passing all the rise on to the consumer. The car makers’ alternative is to stop selling cars, which GM did when the first price freeze went in and nothing was said controlling wages. This is the only brake on inflation. The higher prices and taxes go, the less people can buy.| And when prices and wages reach the point where the public cannot digest even the restricted production, then the inflation spiral will pause in mid-air, and start downward. And that combustible moment will burn up billions in dollar wealth, unless the whole history of man was written in Greek about 600 ,B. C. by a Phrygian slave from Asia Minor, A guy named Aesop.

‘The Whistle’ THERE'S A MOVIE you ought to see.

of

coming

It tells the biggest and most

“Try your tongue on these. Then try them on your Christmas cards and presents.”

It's TB » . » CHESTER D. KELLY, execu- |} tive secretary of the Indiana } Tuberculosis Association, added, ¢

“The gifts of the people in buying Christmas Seals have helped put TB on the run in Indiana.” I go along with Christmas Seals.

Because I know all of us are only st a cough or a sneeze from having $

them work for us.

So bid your seal money goodby {! gladly, with a prayer that it never la:

comes back to you.

'53 Phantom

CHICAGO & SOUTHERN Afrlines brought in the picture of a

plane which just doesn't exist, but —

it will. It was a Convair-Liner with Chicago & Southern painted from one end to the other. Now the reason I know that plane doesn’t really exist is that C. & 8. just ordered eight of them,

but they won't be delivered until here to an Iranian leader.

1953, war Permitiing.

THE 44-PASSENGER ships with hydraulic. steps which are pulled in like the landing gear will put the old DC-3 “workhorses’ out to pasture. I hate to see that hapen. They are like the horses which used to pull the milk wagons. They know | where to go and they always get|

there, not so fast, but awfully] sure, So Far

JOHN STRACK, my wholesale grocer friend, told me how un-| certain people feel. He {illustrated with a story. “It's like the man who fell off| the top of the building. “As he spun through space, each time he passed a window, he looked in and said, ‘Everything's all right so far'.” And, so far, it is.

By P. R. Mallory & Co.

A regular dividend of 30 cents a share of common stock and a year end dividend of 30 cents a share were declared today by the board of directors of P. R. Mallory & Co. Both are payable on Dec. 10

t to stockholders ot record Nov. 26.

About eee

Indianapolis

At St. Francis—Evan J Lloyd, P Hi

At Coleman—James

anapolis Stockyards this morning, 1 with prices fully steady with those paid early Wednesday. “They are something to lic k, but | they've got something to lick, too. |

Prentier Mohammed Mossadegh a | iia thunderous ovation upon his re- ing

Py

"THE INDIANAPOLIS TIMES _s

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edn fea PAGE" 31.

Auto Worker:

Expect Index | To Reveal . Small Rise

By United Press « WASHINGTON, Nov. 23—The| government's new cost of living! |index is expected to show only a| {fractional rise in prices — but enough to give more than 1 mil|lion CIO Auto Workers a 1-cent an hour wage increase. The monthly index, showing| average consumer prices as of] {Oct. 15, is to be released today. It has been: climbing, steadily since March, 1950, except for a i brief leveling off peried two |imonths ago. The sharpest rises came before last February, when gf (the price freeze took effect. | The Auto, Workers’ General Motors-type contract, which is E standard throughout the auto and] {farm equipment industries, # tains an escalator clause calling! for wage adjustments as the index fluctuates. Quarterly adjustments netted the UAW 20 cents an hour between July, and July, 1951. Last year the rest of the auto industry signed up for escalator agreements with the union. Others Covered, Too Some two million other work-

industry, also have their wag tied directly to the index. The railmen’s adjustment comes with next month's index. . In addition, the Wage Stabilization Board has adopted the escalator principle as a keystone of its policy, permitting employers to raise workers’ pay to match the increase in living costs. | Over and ahove the board's “catchup formula” permitting wages to. go up 10 per cent over the level of January, 1950; the WSB will let employers match the living cost change since Jan-

DIRECTOR—H. F. Krimendahl, president of Stokely-Van Camp, Inc., has been named to the board of directors of the Grocery Manufacturers of

Inc.

in

America,

uary, 1951—whether o 0 BIRTHS are covered by escals ' pe hey Twins vy escalator agreeeAt Home—Joyn, Lill Williams, ‘2421 N, ments, Nols girls i a ] Ach srl 5 Edna A b The index rose nearly 3 per cent

and girl

“from January, ber.

: Official Weether

UNITED STATES JEATHER BUREAU —Nov, 3, 195

1951, to Septem-!

BOYS

rances ald, C

Black: R i” Helen Prick

At General—James

Shields:

Ruth Rober a

:. Sunrise,

6:37 Sunset,

turn by air today from a seven-| Inc 8 week visit to the United States In and Egypt. Observers said the cheering crowds gave Mossadegh Fano pub Serv 2 37 gs the greatest welcome ever given Public Service 3's 75 oR rague Device 5s 60 85 1 action Terminal 5s ld 92

con-| |

1948,

|countr {that the plane,

* lifted ‘'over Yugoslavia and permitted

THE AMERICAN WAY—Three children from Korea munch on candy and hot dogs as they thought of-his sons becéme incur-

Hunt for U.S. Fliers Covers 5 Countries

By United Press BELGRADE, Yugoslavia, Nov. 23—Search by air and by diplomacy for a UU, 8. Air Force plane and its four-man crew widened to cover five countries today. Fifteen C-82 “Flying Boxcars” hunted over Italy and Yugoslavia in the first clear weather gince the twin-engined C-47 vanished last Monday after reporting Romanian and Hungarian frontier guards fired on it. Dipiomatic inquiries to both ies produced only curt notes lost on a flight from Munich, Germany, to Belgrade, had violated their borders. The protest notes to the U. 8.

. government did not say what hap“pened to it.

No Signs of Craft

pressing story on the American ish 1o¥, Today, the American Embassy scene today. And it must be truth! Hn usridrie Davis; Richard. Patricia GRiieR ................... 42 # in Belgrade lodged an inquiry because the material comes direct, 5 ancrai % with Bulgaria. It was conveyed from the files of Harvard Busi- = Locke St. No tos eval 53 27 through Swiss diplomats since the "Ie in Whistle at Eaton = Da Francie 1IRES 38 $3 U. 8. has no diplomatic >repret is “The stle a aton, Danny. Marjorie Ellis: E - 18 65 sentative in Sofia. Falls,” the story of a business Tims we, & pH Two reports that the missing and labor. It puts labor in the M Gémerals Pa 2¢ 11 plane had been located now What goes on in the minds and| £5 ree \ 33 2 : arshal rederickson, acts of both business and man- 3 & Little Falls, Minn, director of agement in the sweeping changes 23 3 the air search from the Treviso, of iogay. s = = , Lucille Howard: B D.C 50 41 Italy, base, said a report the plane n o Tr wreckage had been found in the I RECOMMEND this picture . Vincent's—Walte od Local Stocks anc and ‘Bonds i proved Stonndiese. highly for everyone who wants to r: Vi yp — —-l Italian Ipine police patrgls said know the truth about where we STOCKS —Nov, 2— Bid Asked they were still searching the area et our bread and butter. The American Lo ; 96 8: t hich I saw last ‘Satur- 1 . s : 44 : near the town of Pieve Di Cadore, ci YS on ne OF does} he 17g but have found no signs of the 17% WM : Fr 102 plane. i either Ianagement a 5} American Embassy officials cast 133 doub y It 18 a celluloid textbook of the 33+ iooUDL OB a Second report tha here and now. And I recom- 80 42 the plane had been shot down mend that businessmen and un- $0 2 Romine au is crew infons urge their people to see it. 951; bo ed. count was given “ " a. fia . 1 1% by a woman who. said she had The Whistle” opens at the Es- L a o 3 ‘ 100 just flown in from Romania. She quire Friday, Nov. 30. 0 16% did e Something to Lick - 5 0 Oe aenls, . 25 Slav ot Reprimanded Nearly everybody will get a let- jun st . Capt. Fredrickson said that a ter this week, stamps enclosed. r. 83 19 Iyygoslav fighter that intercepted While those stamps come to CLUBS an American search plane near you, they are something you give. Se fen tech Club Inc, of Indianapoli i Trieste yesterday fired a -short and through which you can raise 3°f Whine BB rie Anbar. 3 machinegun burst ahead of it and your checkbook in “Good Health” H Tr di Ny forced it down at Pola. a -to all of Indiana. og ra ing 2 The Yugoslav pilot was repri- . rk manded, he said, and the AmeriMACK MACGINNIS, that B loan crew invited i : it . 8 d in to lunch with heady but quiet public relations Active Here { “the Yugoslav air base commanman, brought mine in, and said, Trading was active at the Indl- | dole 18 er.

The commander apologized for the pilot's action and the U. 8S. plane resumed its search a short while later. Marshal Tito's government has its normal ban on flying

the American aircraft to search from dawn to dusk.

$81 Million Is Urged

21 23 105 Yi 2 “e. For Formosa in 1952 00. ve TAIPEH, Formosa, Nov. 23 ifs 9 : (UP)—The economic co-operation \ 08 .... administration mission to nace vealers $36 to 3 0 tionalist China has recommended 0 SOmercial veslers and. calves “BONDS the allocation ‘of $81 mijllion for sheep 500 ive wooled lambs ‘around 85 Formosa during the 1952 fiscal steady: few prime $30 to $31; cull a1 ‘lap to Jow good $21 to 329 a8 year. . o8 er——————— X 96 Huzzahs for Mossadegh i; 8 U. S. Statement TEHRAN 1. Nov. 23 (U 1 of 96 ry RAI » Iran, Nov. 23 (UP |Solumpia 0 971% TR ASETNGTON. Te oP) oe Thousands of Iranians gave fitisens Ind Tel las 61 101 ment expenses and receipts for the current

rough Nov, 20, ¢

This Yea

$23 3 836 349, R50

fiscal year th ared wi & YCAr ago Last Year $13.954.862C.7G5 13.428.148.886

Expenses

Receipts 7.390.572. 448 Deficit 6.345. 776.802 726.171.819 Cash balance $018 053.045 4,327.017.030 Public debt 8.135.273.2906 256.901.703.164

25 Gold reserve 5 332 850 079 . 23.097.649.906 INDIANAPOLIS CLEARING HOUSE Clearings $12,590,000 Debits 34, TM, 00s

i a - sAY

oh

"WE THANK THEE, LORD"—Children say Thanksgiving Day dinner at the Salvation Afmy Day Nursery in Boston yesterday.

’

prayers before traditional oly

rs, half of them in the Faiifoad view Philadelphia's annual Thanksgiving parade. Left to right are Kwang In, In Sung and Kwang | I.

Relates Smashing Of Dope Ring

You've read a lot about the

narcotics problem, but what

You may never haw

read is

a behind-the-scenes story of

how a dope

ture article

ring is smashed. PARADE magazine's fea-

this week is a

report on how Federal Nar-

cotics up a smugglers and peddlers.

Bureau agents broke vicious ring of dope The

Bureau lists the case as one of the most amazing in its history.

PARADE comes with The

Sunday Times.

= AVE.

Similar to HHustration

810 VIRGINIA

Dope Tragedy—

Ordered Sons Jailed

+

BecauseHe loved Them

{

| By United Press lat Lexington, Ky. They were re“It is a wise father that knows jeased in three months and picked his own child.” —Shakespeare (the yp the habit again.

Merchant of Venice). Mr. Charres said he believed a . second visit to Lexington would cure his sons.

See Little Change in Business

NEW YORK, Nov. 23—Raphael {Charres put both his sons behind {bars today on narcotics charges

{because he loves them.

He said he could not have done

{it without the sympathy of strangfers. Mr. Charres, an unemployed] metal polisher who had asked police to arrest his sons, said he felt like an informer against his own

flesh and blood when 20-year- old! Economists at Indiana UniverFrank was locked up last week.

Tears coursed down his cheeks Sity and the 7th Federal Reserve yesterday when he signed the District agreed today that busicomplaint , that sent his second|/ness in the state during October

son—I18-year-old Antonio—to jail, was little changed from that of {but he said he believed he had ‘midsummer.

'done the right thin 2 g There was some evidence during Ordered Arrest {the month that prices were firmMr. Charres, 55, told authorities ing and that high prices, rather he made his decision after he ii ower, may predominate for ould no longer endure thes : g “Defense plant and equipment expenditures are still close to a i though we have “Find m boys and "arrest record high, a them” he Peis police. “They passed the period of rapidly ad576 using drugs again.” : ~~ 'vancing levels of industrial proAntonio who nad been using duction and capital expenditures,” Buy Licenses Back harcotics since Te was 15. fied Indiana Business Review reported.

DETROIT. Nov. 23 (UP) A When narcotics agents arrested Takes Up Slack

second motorist told police today Frank at their home last Friday. Finished products for defense J, of buying tack from a bar owner But Wednesday night he heeded’ will ke up any slack which de-

able narcotics addicts.

Suspended Drivers

his revoked license, alleged to|his father's advice to turn him- : have been stolen from traffic self in. velops in consumer durable goods court files. The elder Charres’ feeling of production, IU economists felt.

Traffic Court Judge John D. 8uilt vanished after he received 1, yndianapolis, newspaper adWatts said he would keep the bar letters from unknown friends as yertising lineage gained more owner in jail on a contempt of a result of the publicity following than 10 per cent over August, but court charge until he “tells who Frank's arrest. was two per cent under a year the thief in the court is. { “The letters I've received make ago. Lawrence Bajorek, 54, said he me feel a little better,” he said. The city was one of the few paid $35 to get back his license “All those strangers approved of areas in the Federal Reserve Diswhich had been suspended for 30 my action.” itrict which was classified as a days. Another convicted traffic, The Charres brothers previous- tight labor market, although emoffender said he paid $25 to get ly had been treated for narcotics ployment was steady through the his permit. back. addiction at the Federal Institute sector. a wo

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