Indianapolis Times, Indianapolis, Marion County, 9 December 1951 — Page 54
¥ Y
Business Outlook—
They Call It ‘Bargaining’
By J. A. Livingston Out in Pittsburgh, representatives of the United States Steel Workers Union and the United States Steel Corp. are going through the motions of “collective bargaining.” The steel union is demanding a ‘‘substantial” wage
boost. Thirty cents an hour is —————— - the word from the cloakroom, But | rubber companies are some 25 per | U. S. Steel Corp: will talk only a|cent higher this year than last,| few pennies—unless a price in-/and last year was the best in the , industry’s history.
crease goes along with it. : "So, the real bargaining won’t be, But steel earnings in the first done in Pittsburgh, but in Wash- nine months of 1951 are off 19 ington, The real bargainers aren't Her Con U. = Bree] reported a Benjami irless, president of drop of 2o per cent Sexiainiy Fa p When rubber companies sided
Inited States Steel, and his aids and Philip Murray, president of with unions before the Wage Sta-
the - Steel Workers, but Harry bilization Board, they didn’t ask Truman. President of the United! for a price rise. A wage boost in States, and Murray. (steel, without a price boost, would What Truman lets Murray have further squeeze earnings. will determine the entire future of the price-wage stabilization Pressure Murray program, The pressures on Murray are Truman and Murray may notigreat. New taxes and rising living! meet face to face. A host of in-icosts leave steel and other work-| termediaries may be Involved:ers feeling they're not making The Wage Stabilization Board; economic headyvay. Joseph P. Mo-| Roger L. Putnam, the new di-|lony, a regional director of the rector of Economic Stabilization;steel union, has openly declared: Price Stabilizer Michael V. Di- “We're going to break the formuSalle, and Defense Mobilizer Ja, Formulas are for babies, not Charles E. Wilson, who antici- for steel- workers.” pated the problem by.declaring a The presidential election puts steel strike is “unthinkable.” pressure on Truman too. If he’s But there's no doubt that this rough on labor, he may lose votes. is Truman’s showdown on stabili- If he’s weak on stabilization, he
zation. may lose votes too, | The stabilization line undoubtProfits Too Good {edly could be held with a 5 or
6-cent wage boost. U., 8. Steel , The union probably could get : 5 or 6 cents. It's entitled to that mighy stomach jin Withont a under the Wage Stabilization price ons i nd 3 ou 3 m the Board formitla, And the indus-|a8¢ Board's formula. In fact, try might pay that amount. , |, i "put whether U. 8. Steel will Invariably, since the war, busi- «giretch” is something else again. ness has found it profitable to, Ang anything like a 14-to-18-“buy off” strikes. A protractedicent hoost, which union people strike, like General Motors in guy ig the “least they can afford,” 1945-46, the steel industry in "46 would force a big price rise and and again in '49, the coal mines t,uch off another can-yog-top-this
and earning power.
Businessmen quickly learned stabilization. that if you raised wages, you ——— could pass those raises on to your, . customers, This year man-days North Siders lost due to strikes reached a ] seven-year low. And wages, at Elect Monday $65 per week, were 60 .per cent higher than in 1946 (see chart).| The Associated North Side Companies were glad to pay. | Realtors will elect new officers Not necessarily so today. Un-| tomorrow at their regular ‘doubtedly, customers would pay weekly luncheon meeting at 12:15 more for steel. But DiSalle’s Of- P- m. at the Athenaeum. Candifice of Price Stabilization must/ dates are: say “Okay.” For Chairman--Guy Boyd and And that's where Truman comes| Alan Appel. in. Will he grant a price rise as| For Vice Chairman—Hugh A. in 19467 Then, after a one-month Teeéters and Normal L. Hammer. strike, Truman's Reconversion Di-| For Secretary-Treasurer—Walt rector John W. Snyder authorized Veon and Wayne Whiffing.
a $5 a ton increase. At the same ime, U. 8. Steel granted an 1814-| Lookabill, Lewis A. Haynes, John
he Ps ig iy
THR YNDIANAPOLIS TIMES
a
NORTH KESSLER MANOR—This spacious modern five-room frame home at 2608 Dellzell Drive was purchased recently by Howard R. Bunnell of radio station WISH. The house features a fireplace, tile bath and automatic oil heat. It was built and sold by realtor-builder Albert E. Thompson. Brisk Trading
Brisk Trading [ivestock Prices
All Grains Show Gains for Week | ew «@iserimmane Gain, Lose During
By United Press {past week to the highest level
) yw CHICAGO, Dec. 8 — Grain fu- since Oct. 27. no tures prices advanced on the| Prices rose in all sections with| fice an p Board of Trade this week withithe industrials reaching their .
rye showing the most strength. highest level since Oct. 20, By United Press
Mostly on continued advances’ myo more bullish in the financiall CHICAGO, Dec.
in the prices of rye on the Cana- got gajd this was ithe yeardian. market, local rye futures ,.. rally that Wall Street had rose an average of over 9 cents ;niicipated and which usually
higher to 50 cents and $1 lower.
8-—Livestock der markets were irregular this week buildes may experience serious with prices ranging from slightly|difficulty in obtaining some of the
NPA litters Are Hampering ilding Plans | Uncertainty as to the National
Production Authority's
{with respect to building is dis|couraging the planning of future
|construction, A. Naughton Lane,
(president of the Producers’ Counleil, national organization of build-
fing products manufacturers, |
{stated yesterday.
“Much urgently needed com- gf imercial, industrial and institution-| being’
jal © construction is not {planned because owners are unable to determine at what approximate date NPA expects to be able to modify or remove its restrictions on private construction,” Mr. Lane said. &
“If the greater part of the ex-
[isting restrictions are to be relaxed within a year or so, architects should be hard at work now [drawing up plans and specifica{tions. As it is, little advance {planning is going ahead because lof the uncertainty.
| “In addition; it is imperative that’ NPA advise home builders regarding the probable overall joutput of fabricated materials land equipment, allotments for |which are given to manufacturers rather than builders. Unless the output of these List ‘B’ items is lin balance with the supply of ma{terials which can be obtained unthe self-certification plan,
equipment needed to complete
Ronald Roberts Joins Darlington
policies’
the formula might be “streicnea”
Candidates for two openings in}
a bushel. Most grains held a steady upward trend throughout the week on fairly large quantities of U. 8.
occurs.
news to stimulate a rise. there was nothing to stem one.
Butchers scaling 240 pounds new homes for occupancy,” Mr. land under closed 15 to 40 cents Lane warned. There was nothing new in the pigher but sows were mostly 25 “Industry recognizes that And {,"50 cents lower. NPA'’s current plants may have Choice of 170 to 210-pound ito be revised as new developments
rains sold for export. At the end : P Wall Street had about concluded oignts putchers showed the max- arise, but it should be possible to
of the week all deliveries of that a proper base had been laid ‘wheat, rye and May and July 80Y-|¢,y. 5 new advance and some new bean contracts were carried into buying developed, the experts said in explaining the upturn,
new seasonal highs. | Local traders were buying .wheat..due. to. .reports. of firmer, {cash wheat markets east of Chi-|
{the United Kingdom,
{Italy and Austria. Beans Help Corn
Holland, |
against sales of about eight]
cargoes of corn to Holland, the gtates but dipped in Canada. The|S1 higher. Fed yearling wethers| {United Kingdom, Austria’ and jatter’s, however, will set a new sank to a new low on the crop in 4high for all time while the U. 8./declining $1 to $1.50.
| Norway.
| The oats market made fairly output this year will be second] Due |steady but small gains this week|to the record touched last year. marketings, steers and heifers) |Truck. output wiil break all ree-|grading average choice and below The soybean market moved up ords this year, figures reveal.
lin comparison to other grains.
to the best levels in about two! weeks. Some buying in beans was based on reports of sales of soy- | bean oil to Europe but the grain strength as well as the upturns in| |vegetable oils and cptton were the main items which helped to carry | futures upward. : | | Compared to Friday a week |ago, wheat ruled 214 to 314 cents
icents higher; oats 5 to 13
cago and exporters were buying yet from time to time on higher |against sales of U. 8. wheat to earnings for that group.
(high during the week and thejy and 2, sold at $18.60 to $18.75. C helped to quit lexperts anticipated no letdown) | Corn was helped to quite an ex-|pecause of indications of highipyt recovering late on a set of HT Chrysler i In competition among labor leaders. tent by the generally strong mar- government spending continuing highly eu markets, good 1948 and 1950, cost production tt would be a target for John L.'ket in soybeans early in the week despite any change in the Korean (4, prime slaughter lambs, mostly Lewis tb shoot at and the end of and later by exporters buying situation that might occur.
duction ‘and fuel oil production] Choice and prime heifers and a bushel higher; corn 23 to 47 were higher.
{imum advance and sold largely|give the building industry a reato shippers, Light weight butch-|sonable accurate idea of what to ers closed at the high point of expect in the immediate future,” [the week, but the increased num- he concluded. Demand for Air Lines {ber of heavier butchers were un- em, |der pressure late and finished as| —Ed-Sovela, indianapolis’ fa--
Air lines enjoyed a good mar- oo ox ents below the week’s| VOrite columnist, appears Sun- | day through Friday in The
best time. Dest. time 0 Times.
sOn the close most choice 17
Ronald T. Roberts joined the sales staff of the Darlington Realty Co. 201 N. Delaware St, the “firm announced this week. For the past several years
been ‘active in both real estate tsales work and ppraisal work.
As township
Roberts was in
Mr. Roberts charge of all re- : assessment in Lawrence township during the
recent state reassessment Tprogram, ? As a member of the Darlington
sales staff he will handle listings,
and sales of property in all parts of the city. :
Real Estate’ Bonds
Gain in November
All classes of real estate bonds registered gains during November. The 40 Bond index comprising the Amott-Baker Realty Bond Price Averages advanced .6 per cent for the 30-day period.
The average price of a $1000 bond on Nov. 30 stood at $855 as compared with $850 on Oct. 31 and $808 at the close of 1950. Price changes for the month of November of the various bond groups classified by type of property were as follows: eight hotel issues, up 5 per cent; eight apartment hotel issues, up 8 per cent; eight apartment building issues, up 5 per cent, and 16 office building issues, up 6 per cent. For the year to date, the percentage changes for the same groups stand as follows: eight ho-
{tel issues, up 1.5 per cent; eight Lapartment hotel issues, up, 6.7 per, lcent; eight apartment building is-
sues, up 7 per cent, and 16 office building issues, up 7.3 per cent.
Mr. Roberts has,
assessor, Mr.
'of earnings in any event?’
SUNDAY, DEC: 9. 1951
4 Per Cent
8
GI Interest Called Low
CHICAGO, Dec. 8 (UP)—The chairman of the American Bankers Association’s committee on service for war veterans says the current four per cent interest rate on GI mortgage loans should be boosted to 414 per cent. Edwin P. Neilan, vice-president and secretary -of thé Security Trust Co., Wilmington, Del., said this week that banks are “being taken advantage of” by the current rate. He added that the 4 per cent rate “has become a political and not a practical factor in considering GI loans.” In a speech before the fourth national credit conference sponsored by the ABA Credit Policy Commission, Mr. Neilan said that rates for conventional mortgages have risen as much as 1 per cent in the past two years. ““But the veterans have been encouraged to feel that the 4 per cent rate is sacred,” he said, “despite the increase in costs of operating a lending function.” Another speaker at the conference said that business was being hurt by the federal government's taxing program, Henry H. Hiemann, executive vice-president of the National Association of Credit Men, New York, said the new tax bill will promote extravagance in business management because businessmen are forced to hand over too much of their earnings to the government. “With the government taking so much of your earnings in taxes,” he said, “you can readily
isee how strong a business man-
agement must be to avoid indulging in extravagances. Why not pay high salaries, high wages and everything else of that character, and if necessary, have it
ernment gets most of the benefit
Industrial . production held|to 220-pound butchers, mostly No.!
Dragging early at lower prices)
‘fed westerns, closed the week 50 Auto output rose in the Unitedito 75 cents higher with instances
principally to curtailed
regained early losses and closed the week steady. High choice and| Stee! Sips Shghely prime steers and heifers, however, Steel output slipped a trifle finished 25 to 75 cents lower, the but the dip was considered insig-\top on prime steers at $38.50, the nificant and represented no trend./|owest since last June. ; Electricity output set a record] Compared to Friday a week high. Coal production was theiago, bulk high choice and prime best of the year. fed steers and yearlings brought _ Crude oil output, gasoline pro- $36.25 to $37.75.
mixed yearlings were $33 to Car loadings rose on the week $37.25. Utility to good bulls
"OPENING SALE
See Them Today — Sunday, 11 A.M.-5 P.M.
51 Building Lots
in the New and Restricted
reduce earnings because the gov--
(higher; old rye 10% higher; new and were higher than a year ago. brought $26 to $30. Commercial rye 815 to 10% highr; soybeans Retail trade was up on the week|to prime vealers were $28 to $37 2% to 4 higher; lard 13 points a and three to seven per cent bet- with cull and utility grades at $15 hundred pounds lower to 52/ter than a year ago. ito $27. higher. a a
cent-an-hour ‘wage increase. [the executive committee are John
: h Max and Russell Fortune Jr, Regulated Inflation oy P——————— Until now, all increases im Sleuth Goes Wrong wages have been rationalized by; JACKSONVILLE, Fla. (UP)— the General Motors cost-of-living A Jacksonville man closed his de-| contract. Argued government of-tective agency after his partner] ficials: “We can't ask workers, was arrested on a series of forgery who produce the armament, to charges: suffer reduced standards of Hy-| . | > ing.” Result: We've had ‘regulated inflation.” When the “Big Four” rubber companies agreed to a 13-cent-an-hour wage settlement with the rubber unions recently, the cost-| of-living formula made it kosher. The Wage Stabilization Board's Regulation 6 permitted a 6-cent-an-hour catch-up for 1950 and
| | | {
MODERN
NINETI JUN
IDEAL LOCATION
Sales Engineers
We are “a well-known manufacturer of laminated plostics with several important openings - for men to represent us in. sales engineering work. The men we seek are possibly employed in engineering or technical sales work with
113117 133213 1111119 |
COMPLETE FACILITIES
Regulation 8 permitted another 6} a large industrial organization, | EB 111111 cents for the cost of living this] but who now wish to accept | | Pe 1331111 year. An additional cent was} proader responsibilities with a | E3 11] 1S allowed to compensate for shift | maller, progressive thinking com- | 311111 | differentials. pany. Write, telling us about [UF | 13131313 ! Unfortunately for Murray andj yourself. All replies will be held ‘ Truman, the steel industry doesn’t] confidential. ST 31931113 have a catch-up deficiency. Building 1331118 What's more, the steel industry is BOX B-806 : wR
far more cost-conscious than the! rubber industry. Earnings of
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