Indianapolis Times, Indianapolis, Marion County, 6 January 1952 — Page 38

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SUNDAY,

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- Lh SUNDAY, JAN. 6, 1052

THE INDIANAPOLIS TIME

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parE YET EN Projects Are Planned For Spring Building -

‘block of 14th Ave., Beech. Grove, ralk t the southeast corner The homes will be of Frame i ne 37th od Pennsylvania Sts jstiuetion WIL en an y Saison $10,500 and, UU. .|The remaining 77 apartments will sell for 3195 » i 'be scattered at Fast Side loca- 5 ¢ 1. REALTY, agents for bong i : Hetiot park National Homes, Jot, Wi Dud { ey will have onstreel “1920 prefabs at 31-32 . Eriscilla ing facilities, as will all’ other , = ay will have either cedar or rental projects. weatherboard shingle exteriors LF AT WALEACY rad 100. Sta, 20 some In _twe and rr /ALLACE and 1 + room sizes. Prices—the lowest o [jo rental Hits J! detotise houf any units for sale—are $8750 and {ing are planne y the - $9250. | Zeager Corp. Designed by Joseph | : mhege homes will feature modHebi dogs Bron Bd IEG gion ite vi " : automatic heat an ot Ww, ' land will be like individual homes 45.4 a seeded yard. More im|with attractive knotty pine dining portant, they'll be ready in’ June areas, breakfast bars and off- 3nq are just a few blocks from |street parking for every unit. the Naval Ordnance plant.

i 5 Lights Changed : Tp ny oo Costs |. a. | Double to | a Rent Money

By JOHN W. LOVE Keripps-Howard Staff Writer Bank interest rates to borrowers go up another notch. The. ig

By J. A Livingston world-wide trend toward dearer Theodore R. Goldsmith, publisher of a Washington money has affected the rates

pes charged for loans all over. news letter devoted to government securities, has no Pa- The process began in' mid -'

tience with the view of most economists that 1952 will be December. The New York com-

: : ; . “ 44 mercial banks announced they. a year of high production, higher prices, and “stabilized were charging a quarter of per. inflation;” He believes that an ———

TT ~ cent. more for loans to the best inventory recession has already| Up then down. This group pre- short-term borrowers, raising the stayted and that most persons symes that defense production rate to 3 per cent. The movedon't know it. : either wil decline in the second ment became general within days! Mr. Goldsmith is in a small half or will rise extremely slowly. gr hours. : group. Among the 49 economists At the same time. plant expansion New York's rate thus is double who answered mv year-end ques- would start to. decline and thus what it was four years ago, and

- » *

Business Outlook—

Mr. Goldsmith Disagrees

f .~ |

Continued From Page 35

. AJTORNEY'S HOME—Salesman John Sanders of the Walt Veon Realty Co., sold this attractive rancho at 7923 Meadowbrook Dr. to Carl T. Reis. The seller, the Case Construction Co., was

also represented by Mr. Sanders. .

tionnaire, ohly three were bold exert a downpull on business. (3 a third more than it was a year mnie ————t Rk ae project is estimated nn 8 enough to forecast a drop in the economists.) ago. : + (at ,000. BUILDER Robert Mason plans first ‘six ‘months of this year. Down all the way. This group Whether the rise will affect the Cc { $ { ol } y Stock Market | The builders also plan to offer 29 two-bedroom homes for $10,500 And none of these were quite probably would agree with Gold- intezest ates paid to yavings de: ons ruc ion n us r a yo ly ae each in the Row" BrooRNoNM Ei By DEAN H so ‘pessimistic’ as Mr. Gold- smith that defense spending will | positors Spen 8 ie , : Re 5 } R ; ¢ L 3 Y . | the Park Board Minin as iain at 2500 -and try hn The home for smith, who says the Federal Re- be far less than the adminis- Pressures 8 None ra yl é ecor S as ear ; 8 Re Soa] . use erson Ave. Of frame Sonstrde jo ’ of the most pop serve Board index of industrial tration‘s goals. . The bet here is borrowers. deposifors fine 7 . d on nies neighborhood playground. the homes will be located less ee production will: drop 9 per cent in on a truce in Korea and a re- ways of using their money to bet- NEW. YORK, Jan. 5—The con- 29° per cent above 1950, while a nn =u than a mile from Naval Ord- lot." "The. exter

FORTY-FOUR rental two-bed- nance. {room apartments are planned for 2 un = Indianapolis’ redevelopment area GOOD HOMES, Inc. agents for in the 500 block of W. Ransom Gunnison Homes, will build 10 St. Leo Alhand will build 10 prefabs of two and three-bedroom - buildings in a court arrangement sizes in the 2200-2300 block of St, —each dwelling unit a complete Peter St. : ; home with it's own heating sys-| These will have a picture wintem. ! dow, American — Central steel The project is designed by Paul kitchen -units, laundry facilities

duced ‘urgency to rearm. As a ter advantage, then their rate corollary, civilian soft-goods pro- algo. will rise. If, however, they duction will continue in the dol- continue putting as much money drums, plenty of civilian hard into the banks as they have been goods will be available, and plant doing, it will remain the same, expansion will drop. (Three econ- Probably. the most important omists,) single reason for the latest lift | Steady “then down.. Same ag In rates to borrowers is the ex-

above only less so in the first pected need for loans to pay cor-| ! ; ry : "porate income taxes. Under the

struction industry, called upon to shift from civilian to defense construction during a year of “build-up,” dramatically met its challenge and: posted some new records in 1951. This is shown by contract awards for heavy construction as reported by Engineering News-

public housing, with total awards of $644 million, ran 79 per cent! ahead of last year. Other types of construction, which were ahead of 1950, were By United Press sewerage, $334.6 million, up 16. NEW YORK, Jan. 5-The 1951 per cent for the year, and earth- year-end rally carried over into work and waterways, $504.5 mil-ithe first week of 1952 on the lion, 21 per cent ahead of last Stock Exchange. ?

attractive, the ranged for conv yet the home sh nomical to build lar in shape and ment. : I think most that the front attractive with

the first three- months of the vear. The consensus among the 49 economists was for a 5 per cent rise hy the end of the year.

As Defense Goes . . .

Mr. Goldsmith's thesis is that defense. production will not come

During Week

up to the program, that the goals 4 . . ons ‘tion oa : ost tv Detense Mobilizer Charles Bulf, {To economisie) agg TW law, they: have ‘to pay. 70 Recard and the Constructio year, rats. or tae Govern: . Tis is a proceduss wih has Cripe, designing civil engineer, and automatic hot water and oil boxes on the left 4 le Y. BY \ per cent of their taxes the first ny. 3 : e | S¢ : een followed in most of the past These structures, built of brick heat. Prices range from $9500 bay window on E. Wilson are for “pep” purposes group. I think the high-level lull 5 °° =" 0 year. This is the Contract awards for the year ment's policy in curbing private 54 years, Often it is accompanied | veneer. will be the first erected by to $10,550. go through the

totaled $13.6 billion, 10 per cent higher than 1950's total. Awards for public construction for the year added up to $6.16

will continue for a while longer, that the expansion of new plant will tend to decline in the second half—along toward election day

housing and commercial construction, to free critical materjals for defense construction, can be weighed in the contract award

primarily. On that basis, he decides that defense is not the carrying force in the economy.

see what's insid First, there is with a coat clo

by heavy trading. But this one was private, contractors in the rede-' The addition will have a paved about the same as the last week velopment area. All-gas kitchens Street and all city utilities. of 1951 with daily average frad- and heating plants are planned.

Mills plan, named for Rep. Wilbur Mills (D. Ark.), of the Ways and Means Committee.

s $ banks were ing about 1,250,000 shares. h To him, the economic behavior of —and that defense will not take One might say the ‘billion, 9 per cent above last hs : 2 2 = ur A turn throug : : the corpora- ' totals. That was a sharp contrast with ‘R24 re) g | civilians is far more important, up the slack. Ealing ready for ihe pera year, while contract awards I awards for private ROUSING. A5\the Dror Sorc his Tas: with i SSOTHER 24 réhisis avs io. he Iain ar p S Jogi. betnga: a 4 Apparentiy; he is skeptical of the 7... 0 Economies, Not One ernment bonds without taking Private Fomtation Sola fig- reported by Engineering News- sales crossed 3 ‘million shares A. J. M. Graves Co. These were extends through civilian willingness to spend. ! losses, the market on these posted in this category dur- Record, totaled $2.03 billion, every one of the full sessions. laid-out by the FHA Land Plan- This room wit

down 35 per cent from last This market hasn't seen a 2 milyear's boom level, $3.11 billion. Commercial construction, with a 1951 total of $599.8 million, was 38 per cent under 1950. Other classifications, and their

At the moment, the U, 8. 1s honds having .declined. So they really two economies, not one. raise the price of loans. The soft-goods industries are still | U, 8. Bonds Drop fori t the buvi i The immediate effect of the suffering from the buying whims stiffening of loan rates is further which occurred right after Ko- {45 drop ‘the prices of govern-

dows in back a natural fireplace makes a little h more pretentiou There is a Fr from the dining

ning Board and provide offstreet lion-share day since last October. parking spacé for tenants. ConAll the major groups moved struction will he of shingle exhigher with the utilities setting a terior with slab floors. new high for more than 20 years as investment demand absorbed

Mixed in Week

By United Press CHICAGO, Jan. 5- Grain markets on the Board of Trade were

You can sum up the 1852 expectations’ in this way: As defense goes, so go the forecasts. Each economist replying to my questionnaire made an assump-

ing 1950. Industry Soars Industrial construction showed the most spectacular increase of

the year. Contract awards in this 42.2

BISHOP BROS.

tion on the rate and countour of '®a and again after the Chinese ment bonds. U. 8. securities category totaled $4.11 billion, ¥j, totals, were: Waterworks, $208.9 stocks of that group. * Co. will build 24 a rgeliay irregular and mixed this week back terrace wt defense spending. That governed Reds entered the war. At that drifted downward to new post- 145 per cent over 1950. million, down 3 per cent from | Reinvestment of interest and hedroom homes for sale in the 200 as wheat, corn and soybeans lost ly landscaped, his expectations for the year. As time, for instance, consumers WAT lows. | Unclassified construction and 1950; bridges, $315.8 million, dividends also was a big factor in —— ground while other gained. lovely place for

a result, six distinct patterns emerged. Here they are in order of prevalence:

Up all the way. The assumption

here is that defense production

bought sheets like crazy. Result:

Today January white sales are rowing can't of itself be very|traet

suffering. | Hosiery also is in a slump. Ny-

goods industries will snap out ofjwith greatly expanded capacity, their slump, and that cutbacks in{can more than cover milady’s

automobile and other goods production will

than offset by expanding and Reading,

Pa., has asked its

| The over-all effect of the latest

rise in the cost of business bor-

|zreat, but the increase over Tecent years forces industrial concerns to consider more carefully pansion. | | It is in some such manner that|

civilian|legs. Business has been so slow booms in {industrial expansion | be more| that the Berkshire Knitting Mills, have frequently come to an end.|

Corporations. prosper, decide to|

will mount steadily, that the soft-{1on yarn is plentiful and mills, (po costs of borrowing for ex-|!

public ‘housing also showéd down 15 per cent; highways, lifting sharply the prices of restrong gains during 1951. Con- $1167.2 million,’ down 8 per, cent; cently depressed preferred stocks. awards for unclassified and public buildings, $2,057.3 mil- Some of these stocks gained.3 to construction totaled $1.6 billion, lion, down 14 per cent. (6 points in the Friday session on moderate volume.

Railroad Shares Rally

Of more importance marketwise was a rally in the railroad shares which touched their best level since Oct. 18. Demand for these issues was accompanied by

Buyer, automatic kitchens,

Buyers of Homes Stand Pat on Oak As Favorite Floor

Mr. and Mrs. American Home in their enthusiasm for heating, all-electric

tiled baths and. other

Even though grains registered losses only one day in this short week, they were sufficient to overthrow the advances in seve eral markets. | The losses came in the first session of the new year as trade was dominated by liquidation, Depressing influences came from uncertainties in the Korean situation and quietness in export ecircles. There was some speculation

chinking-in of armament orders.| Workers to accept a wage cut of, build, do so much of it they run|

estimates first quarter earnings 'éfinements in modern living, gyer the foreign demand for U. 8.

Over-all inference: Mounting inflationary pressures, (29 of the 49 economists who replied to my questionnaire are in this group.) Steady then up. The assumption here is pretty much as above, only less so for the first half. (Eight of the economists are In this group.) Steady. This group considers that the high-level lull will con-

| roughly, January 2. It's a nonunion plant. Northern unionized plants are {shortly to start negotiating with [the American Federation of Ho- | slery Workers for a comparable | wage reduction. They argue they {can't compete with southern and | nonunion mills with lower wage

scales.

i steel, symbol of the hard-goods

15 per cent, effective yp the costs of construction it-| «

self, and find they are borrow-|

ing so much the banks raise the interest rates on them. Late] comers look over the situation] and decide to put off their ex- | pansions. The boom draws to a close. | |" The current boom in industrial |

‘expansion is expected to run on|

Thus you get a contrast. In tor months to come, largely un-| ¥®«.

der the impetus of defense pro-|

tinue. Inflationary and deflation-| industry and defense, production guction, but the signals are up: ary pressures will balanceis virtually at an all-time peak. The lights have changed from throughout the year. Defense ex- But in textiles, output is below green to yellow.

penditures. will rise, but not so fast as government officials say. Civilian-goods production won't have to be cut back sharply, and

soft-goods production will remain

| pre-Korean levels (see chart). Steel workers, because of their |great economic power, can demand a wage increase through their union. But hosiery workers,

Help for VA | From Odd Source |

will show a gain. Predictions were made that car

first quarter and some estimated

severely into rail revenue. roads have asked a rise in freight rates.

averages advances.

whirl, over last week-end announced a {new product for rejuvenating soil.

CLAY PIPES—Shortages of copper, steel and other metals has introduced a new material into duct heating systems for base-

Chemicals were given another 5’ n

have retained their preference for wheat a the

loadings will show a gain in the [00rs, trade reports show.

long-standing favorite oak

More oak flooring was used in

The structed was greater.

Final figures of the National

ons. Those areas provide more than

Ratio of Use Increases

pretty much as it is, or perhaps even those in unions, face a wage

WASHINGTON, Jan. 5 (UP)—

mentiess homes—vitrified clay pipe, whi¢h combines the favorable

rise, (4 economists.)

| decrease. The Veterans Administration is|

Steel production is Tight at thigh, but textiles slump below pee-Korean levels.

quarter in its current effort to sell $95 {million worth of its 4 per cent | veterans’ home mortgages to

|private lenders.

| VA wants banks to take the

| mortgages off its harids so it can]

[reinvest the money in more vet-| |erans’ mortgages at 4 per cent. | | With private mortgages selling lat 414 to 5 per cent, the banks {aren't falling over themselves to [buy the VA's 4 per cent paper.

But Alexander Summer, president lof the National Association of Real Estate Boards, has appealed

Ito realtors to help VA sell the mortgages. Summer said that if VA fails to get private funds at 4 per cent)

the result won't be higher interest rates. but a move by the

YOU can build a wing

on your home! NR

agency for congressional sanction Free Booklet Gives Help of direct, low-interest govern- : . iment lending. i In Selecting Oak Floors “Realtors are urged to point out { to banks, mortgage investors and Selection of the floors is one others” he said, “that attempts of the more important decisians to {increase the yield on these to be made in planning a home. home loans can result in perma'A helpful bodklet containing nent direct . lending activity by

authoritative information on this the government.” ; subject, as well as tips on instal- i lations and care, can be obtained free of charge. Just drop a postcard or letter to the Oak Flooring Information Service, 221 N. La-

'51 Seen Record Year For Industrial Sales a

the free booklet, “Oak Floors for distributors “will set an all time

closed at

factors of radiant heat with forced warm air perimeter heating. getting help from an unexpected) These pipes cannot rust, corrode, crumble or disintegrate and are the real estate lobby—| chemically inert, manufacturers say.

| Metals were bid up for a time but|

later fell on profit-taking. With housing starts around the

{one million mark, this volume inSteels Do Little dicates that substantially more

Most Livestock Prices Up

By United Press CHICAGO, Jan. 5— Livestock

markets, were higher this week with the exception of a few grades of cattle. Lighter-weight barrows

and gilts advanced 60-85 cents

while butchers averaging around, 240 pounds and over closed 85 cents to $1 or more higher for| the period. The top hog price for the week was $19 on Thursday, but the! closing top was $18.85, compared| with $18.25 a week earlier. On

the close bulk of the 170-220 grading good or better. Such cat-|

pound butchers sold at $18.5018.85, while butchers, 230-270 pounds brought $17.60-18.50; 280-320-pound butchers were §1717.50; sows, 400 pounds and less $15.25-16.50, mostly $15.50 and better, with a few lighter-weight sows above $16.50;

400-500-pound sows. finished at 1250-pound fed steers and year- wanted to find out whether rub-| $14.50-15.50.

Stage Comeback

The fat lamb market went on the skidssearly in the week, but|

came back after New Year's and Mostly prime weighty steers oc-| wees NEW YORK-—At the rate they 51ong with yearlings closed the casionally were as low as $35. | —

Salle 8t., Chicago 1, Ill. Ask for are going, sales of industrial week strong to 50 cents over late! Commercial to low choice steers

last week. Sheep sold strong.

Steels did nothing, although oak flooring was utilized per they were sustained by word the dwelling unit than in 1950. In steelworkers voted to “postpone that yer an unprecedented total their threatened strike .for 45 of more than one billion feet was urned out to serve market i price, $30.85. Good to prime fed J2YS: Motors managed to hold > :

cy : a hich 1.4 million dwelling units “ox xn Slightly above the closings a week |" 8 wooled yearlings were $24.50 25.50), 00 despite threats of further cuts Were started.

with a top of $25.50. Cull to util-|, their production schedules | Builders estimate that in almost iyt No. 1 skins were $20-22 with tne otal renti Tires had a good market for a omes of conventional joist light culls to $15. Bulk slaughter|, . : : constructi ewes were $12.50-15 with culls at time, but dipped Friday after the (00 TU 08 Jrost rooms now are, Noa ’ Federal Trade Commission ruled Ping floored with oak or other : : to restrict discounts on large ship- hardwood. | Two-Way Trend ments of replacement tires and| Additionally, an increasing perTrade in steers and yearlings tubes. Sentage of basementless houses : : | Oil issues had their u dof the concrete slab-on-ground feat z ps and 2 Na a red by two vay [rene downs, but the 1faders managed t¥Pe also are being floored with with demand on both local and it, net 4 moderate gain. One of | hardwood. outside account centering on them, Amerada, was under mod-| An important factor in ‘the weights around 1200 pounds down, erate pressure. Some of the build-!!atter trend, observers say, has ing issues made a good showing. been development of the method | Electrical equipments firmed. Mer-| in Which hardwood flooring in'the cantiles met a better reception on|Popular strip style is applied to

tle closed strong to 75 cents high-

er while commercial grade lighter higher retail sales for the last!Screeds imbedded in mastic on top

weights and most steers weighing week of 1951.

over 1200 pounds closed weak to rie — 75 cents lower, He Found Out Compared to last Friday, about | NEW LONDON, Conn. (UP)—| a dozen loads high prime 1075- A radio supply store employee

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lings brought $38.25-39, with other bing alcohol was inflammable. scattered prime loads at $37.75 Police said he tossed a bottle in! and $38. : |the furnace of the building. It Bulk choice and prime steers took three fire companies to put and yearlings were $33.25-37.50. out the blaze, :

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SEWERS the Department of Com-| merce. American hardwoods are «

ev || DIGGING

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yae= Your Home.” record for the industry this year,| Compared with = Friday last high good to high choice 1300-! Fra — a _ 4 ; Industrial Distribution magazine week, choice to prime handy fed ja 90 gl aay se. A rolls] fie 23 ZR = — says. : {wooled lambs topped Jlate at steers went at $32.50-34. A few EE Is § CC ; . | The magazine's sales trend g31 75, slightly less desirable kinds utility steers were down to $25 SAVE UP 10 wR {figures show a gain of 39 per cent haying had to sell at $30.50 early.|— CHAIN LINK ON WOOD {for the first 10 months of 1951 Choice to prime clippers reached ‘ . » Ad over the same period of 1950. Last $30.90. Bulk. good to prime 100- ® For Residences © Estates

year males were approximately/115-pound wooled lambs were $3.2 billion. The total for 1951830.50-$31.50 on late rounds; 110should be between $4.2 and $4.4) 120-pound $30-31.25. Bulk No. 1 | billion. : . | skin shorn lambs late brought one | Middle Atlantic and East Posh Central states showed a 53 per cent increase in sales for the ten| YOUR CABINETS BUILT {month period, the Pacific states a to suit your needs 58 per cent increase, and New §,. .. o white England, 47 per cent. Sioa) Kitchen Cable y nets bullt and in stalled exactly as you

Hardwoods Plentiful salad sxaely 32 voi

The United States is rich in its| } for estimate. .

resources of native hardwoods, | oo \spriancEs -

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fter the TWA quota becomes filled and import countries will have to pay the full price without benefit of the subsidy

that the traffic revenues might|1951 than in any other year in!rate. well set a record in 1952, although history, with the exception of 1950, high costs and taxes were cutting when the number of houses con- ket, grains were aided by a small amount of export business,

On the upward side of the mar-

inquiries for further. exporting and

. . | Oak Flooring Manufacturers As- the strength displayed in cotton Western rails featured the gain gociation were expected to reveal in the latter part of the week. although all issues of the group totg) 1951 shipments of well over showed strength. Some of the gg) million board feet of hard- quick this weel] to reflect changissues outside the group in the oq flooring, mostly oak, in the Ing price trend registered substantial gouthern and Appalachian re- but. to a smaller extent,

The oats aio was rather

in other grains The March contract was the only one to sink below last week's levels.

notably Monsanto, which|gg per cent of the nation’s sup- Other deliveries were % to %

cent a bushel higher. bd Compared with Friday a wesk ago, wheat ruled 133 cents a bushel lower to 3 higher; corn 4 to 114 lower; oats 1 lower to 5% higher; rye 1 to 25; higher; soybeans 3; to 2}; lower; lard 15 to 40 points a hundred pounds higher. Liquidation was particularly heavy in the soybean market this week but in late trade ruqors of export inquiries made by Norway, Belgium and Japan were aiding factors. !

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The kitchen well arranged. | to the left or ri, and counter. ar stove or the ice few extra ster room where t laundry area is Storage area | entrance is an wife will appre a no-basement On the other away from thi living-working nice bedmooms 2 these rooms hz: tion and ward with sliding dc bedroom, in fac and a Mrs. clo storage room.

How ( You H Ranch

By JOH} Scripps-How: The ranch-ty

to- heat it figur sations of the | builders in Cle ington recentl) capture the fan the public, an furnaces can ol The house of ly without a ba enough that it to the manuf should be built in northern ar advances made ing and insulaf years. The absence presents most The floor often This is new to it was to the F built their one-s land, and the lowed the lines down in Britai ago. The circul: generally thro the slab. The Latins h duct: hypocaus Modern Am veloped three layout for the dials and latera it's easy to sta them. The sl warm, particul: " Fairly recer people attendi turers’ meetin; " been toward he eter of the hot warm air at w the coldest pla side walls. Three Ohio r brought out w “reversed flow This is one in is mounted at forced downw to the pipes un often it's callec or “counter-flo Another con nounced its la nace, one .des chill on the doors and win the market Ja Instead of v the blower, it amount of air the heater In