Indianapolis Times, Indianapolis, Marion County, 16 December 1951 — Page 54

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Too Too

Business Outlook—

Much | Early?

J. A. Livingston

Geoffrey Crowther, editor of the London Economist, is seldom at a loss for ‘a ‘provocative thought. The other

day, he raised this question:

big—not only in Great Britain, France, and Western Europe,

but also in the U. 8.7?” Crowther is concerned with civilian morale. Aren't people being subjected to merciless economic pounding—in Britain, even worse than here? The economy of the tight little isle is entirely too tight: Not enough labor, too little housing, austere diets, a crushing rate of taxes, rising prices, Even before Korea, everyone in Britain was surrounded by difficulty. Stepped-up rearmament has added to privation. Crowther wonders: Can’t some hope be held out to civilians in Britain, France, and other Western European countries? Can't a promise be made of more butter, less guns? Otherwise, won't morale break down? Crowther: would not. cut back armament schedules immediately. The Soviet power is still too great. “Free nations are not yet free to be free.” People of the free world will not be able to sleep nights from fear of Soviet aggression until they gain equality of power. So, heavy burdens now are necessary for lighter burdens later.

Timetable for Cutbacks

Crowther has his timetable for cutbacks. He agrees his arithmetic is freehanded. “I cooked up

|Plywood Now

“Is the defense program too

other side, watching this growth, this massing of strength, might be moved to meet it before it attains indisputable preponderance. Result: War—the very antithesis of what rearming is designed to prevent.

how you've achieved equality? Macy doesn’t tell Gimbel. And Stalin’s even less communicative in dealing with Truman or Churchill.

until your strength shows up at the conference table.

you never know beforehand. The waging of peace, like waging of war, permits no exact timetable. And that's the drawback in the Crowther plan. You promise surcease from the privations of preparedness in 1954. But suppose you don't deliver. The ex-

an added psychological letdown.

There's Enough

The hardwood veneer and plywood Industry is ready to meet all

| Yet, how can you tell when and i

So you have to "keep arming ’

That- may| = not be in 1954 or 55 or '56. And|

pected psychological lift becomes|?

SPEEDWAY'S NEW BUSINESS CENTER--Latest addition to this suburb's fast growing business . area is the $175,000 commercial building opened this week by the Beck-Hanna Realty Co. The new building houses four stores, 12 efficiency apartments and two medical offices. The entire building is air conditioned and has a parking lot 150 by 40 feet. Construction is of steel and concrete. It opens a new shopping center for Speedway, about five blocks west of the main business section.

DRIVE-IN BANK—The last word in banking, you don’ t even have to get out of your car, is bulk into the new Lawrerice Branch of the Peoples State Bank at 6909 Pendleton Pike. The new bank is

open for inspection tomorrow through Wednesday and o

demands for military and civilian needs, acording to Joseph F. Mertes, newly elected president|-— of the Veneer Association. “Hardwood veneers and plywood are not under government allocation and the industry is in an excellent condition to fill the requirements of home construction and remodeling,” Mr. Mertes said. “The use of hardwood plywood will relieve some of the pressure on the stocks of critical materials used in home building. “Although the demand on the industry are greater than ever to meet the public’s preference for quality furniture at the lowest possible cost, we pledge our full co-operation in fulfilling defense mobilization requirements for hardwood plywoods and veneers.”

the statistics to come out where I wanted them.” He estimates that the U. 8. Britain, and Western European nations are even now spending three times as much on armament as the Soviet Politburo. The Politburo’s advantage is that of slow and steady production since the war. By the end of ’'53—well, anyway, sometime in 1954-—he feels the western powers will have caught up and will have sufficient military might to meet the Red forces on equal terms. On this, Crowther quotes Churchill on arms production: “The first year you get nothing; the second year a trickle; the third year a flood.” Crowther expects the flood in ’53. After that, he feels a reduction in arms output is in order. Consequence: More for civilians. : He thinks expenditures on military operations—always assuming no war, of course—could be lopped off to 10 per cent of the national income. In this country, that would mean outlays of $30 billion a year, as against a rate of some $40 billion now, perhaps $50 billion to $60 billion at the peak.

Psychological Warfare

Crowther’s scheme is really

Chicagoan Heads

Building Owners

CHICAGO—Leo J. Sheridan, president of L. J. Sheridan & Co., Chicago, was elected chairman of the Nominating Committee of the National Association of Building Owners and Managers at its Board of Governors meeting held here Dec. 10-11. Members appointed to serve with Mr, Sheridan are: F. LeRoy Gilbert, Philadelphia; Fred B. psychological warfare on the Moore, Atlanta; Paul G. Heidman, home front: People will endure Detroit; Winston B. Booker, privations if they can expect more Houston; E. W. Murray, Kansas beef, more bacon, more housing, | C1t¥; i Harry W. Bruck, Portland, more leisure later on. Therefore| Ore.; Henry R. Ehlers, S8an Franyou must promise relief as of a cisco; W. J. Gordon, Toronto. definite date, January, or July, The function of the Nominating 1954. [Committee is to present to the

Certainly it's a pleasant notion. delegates at the association’s

By United Press

stock market during the week.

tax position.

plants near airfields. Other Issues Decline

waned, Gains were noted

foods.

Coppers and mercantiles were regular.

tion intermittently,

But it poses its own question: convention here in May, the slate

The utility average rose to a new high for more than 20 years and held most of its gain. Demand for this group reflects the strong dividend position of most of them and a partially sheltered

If the airlines had an average, it too would have set a new high because nearly all the airline isSues rose to new tops for the year and longer. Demand for them reflected outlook for higher earnings. Also, it was reported that they were getting more air freight from companies building

Elsewhere market interest

chemicals, machine tool issues, some oils, shipbuilding issues, and Declines came into rails, autos, steels, aircrafts and television issues, although the latter| had a few strong moments. Building and liquor issues held steady. |

Leadership .of the market lacked personality. Individual is-| sues and groups received atten-| but at no time was there the zip the mar- |

latest addition to the fast-growing Shadeland Shopping John Jelliffe and Wesley Martin.

ir-|

Russia? Crowther warns against getting after a few years can be elimin-| ated by use of insulating board!

too strong. When one side is overwhelmingly powerful ii1..;, when the home 1 boflt, This) type of lath, which comes in|

might misuse its power. Or the ‘arge units, forms a continuous, |

solid base for the plaster. Additionally, it serves as insulation. | wala en Sa Se Brikcrete The Modern Masonry Strength—Insulation—Safety

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Grain Futures {Except Rye, Lose Ground for Week

By United Press CHICAGO, Dec. 15—Grain futures with the “exception of rye lost ground this week on the Board of Trade as prices slumped from 1. to 7 cents a bushel.

During the early part of the week several new tops were established and wheat hit peaks not reached since 1948. Both December and March wheat broke through the $2.70 mark before meeting much opposition, After mid-week, however, prices began “ [to sag. The December contract wheat lost over 7 cents a bushel while deferred deliveries lost around 5 to 6 cents. The pattern in corn was about the same as in wheat with the exception that the setback in corn was not as far extended.

Oats Follows Pattern

Oats futures action also was quite similar to the other grains with light trade and the market rather susceptible to small sized orders on either side. Rye, the only grain to finish on

Canadian market early in the! week.

Soybeans showed the influence |

other pits and was also affected by the sell-off in lard, cotton and vegetable oils.

Compared the Friday last week, wheat ruled 4% to 73% cents a

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Under Heavy

By United Press CHICAGO, Dec. 15—Livestock prices showed a substantial detline this week on liberal receipts. Hogs were down 25 cents to $1 with most hogs weighing above 220 pounds closing at a new low for the year.

At the week-end one load sorted No. 1s brought $18.60 with most choice No. 1, 2, and 3s weighing 170 to 210 pounds at $18.25 to $18.50. Bulk choice 220 to 240

pounds, the full width of the choice grade, sold late at $17.75 to $18.25 with No. 2 and 3 butchers 240 to 270 pounds at $17.40 to $17.90. A limited number choice No. 3 heavies 270 to 310 pounds closed at $16.75 to $17.50. Sows weighing 400 .pounds and below brought $14.75 to $16 with most 400 to 500 pounds at $13.75 to $15. Odd heavies were low as $13.

Closing sales of lamps this week were $1 to fully $1.50 lower, with clipped lambs showing the most decline. Closing prices were| the lowest since mid-November and receipts for the week were

SUNDAY, DEC. 16, 1951 Livestock Prices Slide

Receipts

$2. In steers, choice and prime mediumweight and heavy kinds showed the most decline, while commercial to high choice light yearlings were off least. Compared to Friday a week ago, a load high prime 1165 pounds fed steers early were $38.25 with a few loads prime steers and yearlings at $38. Load prime 1087 pounds fed heifers brought $37 early but after Monday prime heifers in loadlots stopped at $36. Utility to good bulls brought $25.50 to $30.50 but late sales were $29.50 and down.

Building Volume still Is Climbing

The dollar volume of home building in: October increased 6 per cent over September despite a decline in the total of all kinds of construction work, according to the U. 8. Department of Commerce. Shortages of structural steel

the largest in nearly two years. Yearlings rounded out the week| about steady with last week’ s|

the up side, was presumably influenced by the firm trend of the ruled steady.

dull close, and slaughter ewes|

Compared to Friday last week,!

the late top on loadlots of fed|

| wooled lambs was $30.75, compar- |

and copper were seen as the big reasons for the drop in commercial and industrial construction. {Home builders didn’t have to cut |down because dwellings require {relatively little metal for structural purposes. Lumber and roofing, two chief

of what was going on in the|able to lambs at $31.75 Monday home-building materials, are in

land $32 last Friday. {good supply. Asphalt oan. ‘ {which amounts to abou per Heifers Down 50 Cents to $1.50 |cent of all the roofing now used With prices under almost con-|in the United States, is made of

+ tinuous downward pressure, |non- -critical raw materials and is

slaughter steers and heifers lost! {available for both new. construc-

bushel lower; corn 3; lower; oats |

ens the following day for business. The ii, the bank was designed by architects

2% to 3% lower; old rye 6% higher; new rye 2; to 3% higher; soy-

Utilities Stand Out in Irregular Trade

ket had last week when the in-

NEW YORK, Dec. 15—Utilities|qystrials rose nearly 5 points and stood out as the strong major group in an irregularly lower past

the rails more than 2 points.

Packing stocks were active at times, reflecting outlook for higher prices. Pharmaceuticals were given a whirl once or twice. Individual issues of the machine tool group-enjoyed a good market on outlook for a long period of full time production in ‘store for their companies.

Canadian Pacific Strong

Canadian Pacific was a good, performer but nothing like it was a week ago. It was strong on| Monday in further reflection of the five-for-one split in Consolidated Mining and Smelting of which it is a large stockholder.

during the week with the steel industry pouriag its hundred millionth ton of the year, thereby setting an all-time record for any| year. Automobile and truck pro-| duction combined increased on| the week but was off on the year.

Crude oil output slipped a little but held well above last year.! Gasoline production rose to a rec-|

Industrial production held high,

to 132 points a hundred Pods lower,

If you buy anything you're in | ord high and supplies on hand of

o“" this fuel also moved up. Fuel oil Dsiness. Harold Hartley's “To. output eased on the week but was| 92Y In Business” lucid column above last year. Kerosene output| in The Times every day is rose and was higher than last| Written for everybody. year. |

Grain Containers

Steel ash or garbage cans make practical storage containers for grain. The cans have close-fitting| covers to protect feed and seed! from damage by insects, preda-| Romanian border patrols.”

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