Indianapolis Times, Indianapolis, Marion County, 3 February 1952 — Page 48

* hands on. :

"YGiFARY, Investigators. for the Na-|

R. Mitchell and wife recently by Charles Olinick of Ed Springer John Wyatt Jr. The landscaped home includes an 80 by 200 foot

EDGEWOOD-—This five-room modern masonry home at 4960 S.-State Ave. was sold to James

MODERN FRA

M Realty, Inc. Former owner was

lot previously owned by Miss Oth

E HOME—Sold recently and wife, this three-bedroom home at 3522 W. Michigan St., was

Marker of Edsel Realty Co. handled -the transaction. -

=" Market Rallies © In Week After Rough Start

By United Press NEW YORK, Feb. 2—Professional Wall Street traders, tried [unsuccessfully this week to knock {the bottom out of the Stock Mar- | ket. They dumped stock Wednesday land the market had its worst break of the year. Thereafter the' tone strengthened and later in the week the market rallied. Trading fell off sharply on the] |decline and was light on the sub{sequent recovery. Before the professionals shot a barrage at the market, it had been bandied about by the remaining bullish element.

to Earl F. Wilhite el Shepherd. Salesman John M,

Business Outlook—

Inflation Is A Promise

By J. A. Livingston

| If you take President Trunian's $85 billion budget §

literally, you've got to bet on an inflationary future. But for the present, inflation is more of a promise than a threat. It’s something people are looking forward to rather than

askance at. - " The business lull continues. 80 the cost of living is up 7 per cent much so that: since he signed his last contract { A three-man tribunal reduced in November, 1950. - He can also] avage jrates about 15 per cent Incite that the auto workers have| ionized hosiery industry in had cost-of-living and producorder to keep northern plants In tivity increases since his last business, Here's a warning of agreement. But steel workers are overcapacity. And overcapacity gt{ll pretty much up with the rise isn't supposed to happen during {n the cost of living. inflation. You're supposed to be .

Form New Firm

idences

with large realty agencies for a {number of years and the younger pound weights at $18.85. |

Father. and Son

Livestock Prices Are Erratic

By United Press

[prices moved rather erratically] {during the week with cattle and sheep finishing on a mostly lower basis while hogs were steady to slightly higher. Gompared with a week ago, barrows and gilts sold steady to 25 cents higher. Butchers under H. W. Pennington and his son, 240 pounds were 10 to 25 cents James, this week announced the higher, while others were mostly formation of the Pennington Steady to 15 cents higher. Realty Co. ‘with offices at 2724 Although the closing top of Madison Ave. $18.85 was the week's high, final] The firm will deal in suburbdn|prices on hogs scaling over 200) properties, sales of farms, resi- pounds were generally fully 25 and general insurance Cents lower than on Monday. lines, exclusive of life insurance. Most choice 180-220 pounds sold * Both men have been associated at $18:50-18.75 on the close, ‘with a few loads uniform 190-210-1

H. Pennington _ J, Pennington

Pennington until’last week served/| Some uneven lots 220 pounds

able to sell everything you can lay Contrast With Textiles 28 a professor at Lain Business and less had to sell down to

{ At a convention of the National Murray's strength is hik -eco-

| ' . A strike would upAutomobile Dealers Association nomic power. A 1 in New York, where optimism cus-| set defense schedules. Yet, a tomarily overflows, automobile Wag®-price rise in steel might turn men were only mildly confident. out to be the final turn in the inFord, in pricing its new, 1952 flation screw. : models, did not take advantage The hosiery wage cut is‘signifiof the full increase granted by cant.

And most used cars are cotton mil |cussing wage markdowns,

ment.

below ceilings. also

: {because capacity exceeds demand. What's What in Steel talla- | Rallroadmen's, | - | And sooner or later, insta leral, 56; First Federal, 43; Fletch-(In-|eT Ave. Savings & Loan, 43; In-| |dlana National, 39; Prudential In-

The National Association of tions of new machinery will show

Purchasing Agents says that the up in metal-working plants. “slowdown of over-all industrial deed, the automobile market has

production in December is con- been saved by cutbacks and shortfirmed by January reports of pur- ages of material.) Murray must chasing executives,” {fear that—if not now; then According to the Wall Street eventually. : Commodity prices reflect the tional Production Authority found ghsence of inflation. They have “massive evidence that most pn oved more or less American factories are no longer anout a year. Certain items, like

{College teaching real estate,

[Cotes ! 908 Mortgages ‘Made in Month

It shows what excess ca- recorded in Marion County during| 2 . : rthern woolen and December with an aggregate {y OPS under the Capehart amend- pacity does. ‘Norther 3 alue of 56.68 milton, accarding 1s are now likewise dis dou to the Union Title Co.

(surance, 38; Arsenal Building & Loan, 37; Dorn banks, 374 Fletcher Trust, 31; Fidelity Trust, 191. 27; Shelby Street Savings & Loan, | 1. -121-Pound averages. | 24; Pension Fund, Deciples of] , ?

Christ, 21; Indiana Trust, 20. |

sldewise for|,.i |isted did not make at least {20 mortgages during the month.

around $18.25; 230-240 pounds] sold mainly at $17.75-18.25 with] |choice 250-270-pound weights at $17.15-17.85. Butchers 280-315 pounds cleared at $16.75-17.10. |Sows 400 pounds and less closed| {the week at $15.25-16.50 with 400-! A total of 908 mortgages were 500-pound wéights at $14.50-15.50.!

Receipts exceeded last week .in| e sheep market and practically | bled the supply on sale at 12

Top mortgage makers were:

i to 128; Union Fed-| p

locally reached $38. This | week's extreme early top, however, was $30. Closing top was choice to prima 95-100-pound fed wooled lambs, $28.50 on 108pound weights and $26.50-27 on

Those banks and institutions

short of steel.” And Bennett 8.4001 hides, print cloth, and rub-

Chapple Jr. assistant executive, have declined as much as 40 vice president of United States

Steel Co., warned a group of steel warehousemen in Chicago that weakness in demand will become

Farm products have turned down anew in ‘the last two months,

{which may result in a drop in the increasingly apparent during the. ., .¢ ving index inthe next

coming months. | RE ion of the National Moth OF Tw, tion 1s: ‘Will Association of Home Builders, So. the big question St ! also in Chicago, debated whether Jefense orders come through fast £00,000 new dwellings — the gov- enough to firmi up the inflation? ernment’s proposed celling—could At the moment, the promise is be sold in '52. Some bullders said, Stronger than the prospect. mortgage money was scarce. Others said customers were scarcer. Materials shortages, in-| terestingly enough, were not a major concern -- except among

SOvernment sreechmalers. Walter Hickman, office mana'51 Foreshadows '52 Iger of Allied Building Credits,

The annual reports express with Inc., this week was appointed dallar signs what has long been manager of the Indianapolis. ofrealized—that most corporations fice, R. A. Peterson, president; no longer are able to keep up with : announced. rising wages, costs, and taxes. In| Mr. Hickman the _case-of U. 8. Steel, net sales _ _ Joined the firm rose to ‘an all-time peak, $3.5 bil] in 1946 as a lion. This was a 20 per cent gain] member of the over 1050. But net income was credit staff and down from $215 million to $184 in 1950 wa s million or 15 per cent. | : named office Companies like Socony-Vacuum| manager. A naand the oil industry in general are| tive of South al exception to the rule. But in| Bend, Mr. Hick1052, the new tax rates will prob-| man gained early ably pull them into line. Dusifens eXperl. _ The Wage Stabilization Board ence in real eshearings on an increase for Philip Mr. Hickman tate {insurance Murray's Uwmited Steel Workers|/and property management, are taking place at’an inauspici-| He is a former member of the| ‘ots time, The drop in earnings Indianapolis Real Estate Board will make-steel companies all the and served as chairman of the more insistent on a price rise to board's Property Management Dioffset a wage bhocst, Not only vision. As manager of ABC here, that, but it’s hard for Murray—at he succeeds Frank G. Brost, who the moment-to cry “inflation.” now manages the office at New To be sure, he can show that Orleans. : |

Hickman Named Branch Manager

to 50 per cent from their peaks.|.

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CHICAGO, Feb. 2 — Livestock week on a firm basis.

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T05P.M. |

“3

Group after group received at-

(tention. Finally the steels were bid up substantially. That seemed {to be the signal for the professionals to turn loose their selling.

‘Most Grains Off in Week

CHICAGO, Feb. 2 (UP)—Grain futures prices declined this week| Industrial Average Oft on the Board of Trade with the The net result for the week was exception of the soybean and lard a fairly substantial decline in the markets which averaged out the industrial average and very small |declines in the other major The entire list dropped rather groups. For the full sessions, sharply on Thursday. Observerssales averaged 1,666,000 shares sald there was no particular news daily against 1,708,000 shares last or developments to account for week. the ,selling wave, but that scat-| As in recent weeks, the widest tered holders of contracts became net changes occurred in the issues discouraged over recent action. outside the grotip-witech-makes-up-In addition some traders be- the averages, . lieved that news from Korea in-| There were wide gains in such dicated a possibility of better jssues as St. Regis Paper, Texas progress in peace negotlations. Gulf Sulphur, Aluminum Co. of The bean market managed to America, Aluminum Limited, Abfinish on the upside even though nott Laboratories, Texas Pacific

futures declined during the latter rand Trust and Thompson Propart of the week as liquidation|qyuects, ’

Increased because of reports of] larger country offerings and Guided Market weaker vegetable oils. A few rails managed to register Earlier beans had made consid- fairly substantial gains, Natural erable advance on buying at-/gas utilities provided some good trifuted to commercial interests gainers. Chemicals had wide gains plus short covering operations and and wide losses. Coppers enjoyed reports which mentioned several a good market for a time but countries as petential buyers, |several showed - losses on the ‘Several factors contributed to week. Oils also were irregular. the wheat decline. Conditions in! The market's movements: Egypt improved somewhat, little throughout the week were guided fresh export business was uncov- almost entirely by technical conered and buying interest was in-!siderations. There was a dearth sufficient to maintain occasional of news on bpth sides of the mild rallies. market. :

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