Indianapolis Times, Indianapolis, Marion County, 24 February 1952 — Page 38

- Business Outlook—

When Will Stock Market Rise?

By J. A. Livingston : So, you're like thousands of others, you want to know why the stock market's going down. I don't know. And nobody else knows.

| |

But we'll]

* all know three weeks from now, or six months, or a year. | :

. It takes time for Wall Street to] “ develop a rationale. i If the decline runs -its course Presidential election corroborates ' quickly, you can expect brokers what this letter has been hinting to send out market letters like at for many months, . The United this: States following the course of| “The sell-off in the stock mar- Great Britain, has taken a swing| ket was temporary, as we antici-|to the right. Always associated pated. It was due to liquidation with conservatism—with a swing ' by security holders to pay incomeito the right—is the protection of | taxes on Mar. 15. While this liqul- the currency. “Jast-as-Churchill-4s-trying—te] protect the pound, so our new!

dation was going on, investment trusts, trust funds, and pension funds were quietly accumulating pregigent will try to protect the! shares, dollar from further deterioration. Or this: We can now expect smaller defi “Once: Investors got used to theicity and, ‘ultimately, a balanced | idea that a truce in Korea would budget. People are now getting | not change the.long-term courselout of common. stocks and into! of the defense program, liquida- dollars.” tion of stocks dried up. Shrewd| Or: | investors, meanwhile, were plck-| “As far back as January, faring up stocks at a discount, form- ge ! ing the base for the powerful iy

rally now in progress.” {affairs to win, Accordingly, they| If It Lasts Longer began liquidating stocks, knowing the relentless assault on|

at the Republican Party was| [too widely split on international|

If the decline lasts for six that months, the rationale will be capital values would continue! more difficult, thus: ot 3 specifically: “The present bear market in | bomen eis is a natural after-| t oulintied Democratic support math of the bull market, which, Of 1abor unions at the expense of| with only minor interruptions, the private investor; continuation of government controls, restrict-

st for 10 years since pas vo the Germans were NB the latitude of business°man-|

o agement; continued high taxation! aon the B amen nda of ‘persons in the Er ho down, when President Truman's Prackets, accompanied by. high budget disclosed a lower and taxation of corporations.” | y 56 , Invest- ao fi duit WTA RIE Stopteme | ' Street hedge against inflation.” If the market suddenly stops declining, then we'll get this:

Maybe the market letter writer ? talist: ! | » eae stocks could ‘The prospect of peace in Korea eontinue to rise in the face of and the elongation of the defense higher taxes, higher wage costs, Program started stocks down in| a slowdown in retail sales, price January. The market had lost its gontrols and cutbacks in automo- inflation zing. Soon shrewd inbile and other civillan production vestors realized that the high contradicts all we learned in his- business plateau was being tory. Fundamentals do count in stretched out too. A post-defense this world. Lower .earnings and depression had, therefore, been jower dividends never spark a postponed indefinitely. As a rebull market.” ® |sult, re-accumulation of stocks : began and is still going on.” ‘And Longer— So there you have it: Not what © If the decline were to last the market's going to do, but how ‘through November, an entirely it's going to be explained. Market ‘different rationale would be letter writers, like columnists, ‘called for, such as: ‘must make a living!

Indiana Vets Good Risk

+ “Although there are more GI 20-year mortgage; use of the 4 “home loatis”oie-VA'S books than per cent gratuity (maximum of| sever before the AV annduliced Ha | $1807 tor -prineipal. payments; in| ~irate-of reported Getawta-do-stead- extreme cases, where the lender dly declining and actuai~defauitsiwants to Iqidate mortgage on “represent only one-half of 1 per good credit risk, outright purchase cent of the total of loans ap-|of the mortgage by VA. sproved. | A total of 982 cases are cur- ® The fact Indiana veterans are rently in default in Indiana and Zan excellent risk, was proved in only 36 of these cases are in seia recent survey. {rious default, : Of the 56,365 home loans ap-| VA has arranged to collect “proved from the beginning of the back delinquent payments in 470, iprogram only 191 have defaulted, cases, Through Dec. 25, 1951, the Zon which claims have been paid. | Veterans Administration has paid The principal amount of these out on default claims in Indiana Hoans for Indiana is $263,662,200 the sum of $354,027 and to date “and of this figure the net amount has recovered through liquidation ‘of claims paid‘is $171,561 repre-|procedures $183,366 of this ‘senting .00065 of 1 per cent. amount. Further recovery is an- : VA Cures Defaults {ticipated through Hquidation of * The cumulative total of Indi-|indebtedness oni the balance. :ana's defaults reported through' =. 7 Ts December 25, 1951, was 5300 and Lincoln Life ‘of this number, 4065 have been x ‘cured. Declares Dividend : The VA's policy is to encourage! FT. WAYNE, Feb, 23—A divijlenders to cure defaults. Some of |dend of 75 cents per share on| the methods used are: Reamorti- stock of the Lincoln National Life| zation to. extend the maturity; Insurance Co. was declared by the, le, from a 15-year mortgage to a company’s board of directors this! week. The dividénds will be payable,

‘Two City Men 25 cents on May 1, Aug. 1, and Nov. 1. Transfer books of the

‘Take Lumber Course company will be closed for seven © Two Indianapolis men recently days prior to the dates on which! completed a 30-day training/the dividends are payable. ‘course on products and business Sek tintpiveopn——— :procedurés of retail lumber and Haney 5 Berry

‘bullding material store opera-| tions at Purdue University, West! Joins Viehmann Haney BE. Berry has joined the

“Lafayette. James A. Wakelam, assistant ehmann manager of the Wakelam Lumber, 708! frm of n J. Vichmagn. ‘Co., Beech Grove, and Thomas W. | : real estate and in-| :Campbell, Wright-Bachman Lum- Engaged 11 real estate a “ber Co. attended the course spon. | Surance business for more than ‘sored ‘annually by the Indiana 3 yours, i Barty Sompiiod ive of experience Ww Lumber and Builders’ Supply As- occades . . sociation. in So Caratin: Y with Union Trus: ere he Jeno ol Purdue and 50 .other bullding! 28 Inanager of " a vs 2 pISP material firm employees from ns OS, EE ga : diana, Illinois and Ohio. 3 ——

{

vos sewer and dn . Lifetime Property Protection evs suo. $ave Materials ar Complets Erection expen of mstdlen \ £ A IM. 8313728 Russell Ave, || HoMoorka

NRRNRNIN THE ONLY Rh WIR

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The finest, lowest-priced

“The Republican victory in the

eing investors began to realize §

| a clothes dryer, kitchen sink unit and refrigerator on behalf of Radio Equipment Co. to (left to cI

{1,03 points,

SERVICE

- he ’

THE INDI

S TIMES © SUNDAY, FEB. 24, 1953 |.

ANAPOLI

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WINDERMERE HEIGHTS—Charles F. Roesener, general foreman of the Central Transfer & Stor. age Co., and wife are the new owners of this fivesroom brick home at 6363 Monitor Drive. It was

sold by Carl Getz. of the Gil Carter Co, for builder Harvey -E: Rogers.

Some Hog Classes Central Supply Co. Honored ht 2-Year Lows | BE

Livestock Prices Generally Slump

By United Press CHICAGO, Feb, 23-—Livestoc prices ‘were mostly lower in trade this week. Prices of hogs dt the end of the week were 25 to 50, cents, mostly 35 to 50 cents lower {with some butchers off more. This left the current average price of barrows and gilts at the lowest point in nearly two years.

| On the close the average cost

‘was the rest since 0: . * . . . With enolce 180.50 merit 195% 50 YEARS OF SERVICE—Marion County Residential Builders ‘rows and gilts at $17.50-18 while hoflored 50 years of service rendered by the Central Supply Co. comparable 230-240 pound weights Tuesday evening at the builders' monthly meeting. Presenting .the \brought $17-17.50. plaque is-Charles Wagner, vice president of Burnet-Binford Lumber Slaughter lambs, mostly good Co. Representing Central Supply are (left to right) Frafk Weiland, to prime fed westerns out of the ice president; Andy Jorgensen, city salesman, and William Dwyer,

jSOEnbel, oo SeSrmountain feet. sales manager. The firm observed its golden anniversary on Wash. ington's birthday.

to prime fed wooled lambs, dfter advancing "early, reacted late to ose barely steady.

Compared to Friday last week, {the extreme top on fed wooled {lambs was $28.50 with the closing ltop at $28.25. Bulk good to prime

NORTH SIDE—Built at 6072 Garver Rd. bungalow was sold re-

, this five-room brick veneer

cently to Frank K. Becker and wife through W. N. Waltermire, Realtor. Seller was Mrs. Anna Reynolds. The home features a stone fireplace and a roomy breakfast nook.

Foro Tew eace

THE WINNERS—John Bauer, president of the Marion County Residential Builders (right) awards

Ethel Bromert

Ford Manager ; ‘Opens New Office | Realtor Kthel Bromert this

Will Address Sales Execulives |weex opened her’ new office at

Pringipal speaker at tomor- 39 E. 9th St. and will continue row’'s meeting of the Indianapolis her specialization in the sale of Sales Executives Council will be residential North Side properties,

Bs DEAN H. There are still in tha United Stat - story and a half week we have an ¢

right) Builder Tom Carson, Mrs. George Roesing er and Mrs. Ray Kirschner. The ladies are wives of MCRB members. Radio Equipment Co. acted as hosts to the builder's group, displaying the 1952

of this style. On reasons why this style home is pop it does provide a I of living area for The exterior has of brick with wo and dormers but attractive if bui blocks or all woo Let's take a pee there is a small h: ahead are the sta It doesn’t show on but there is room 1 for a coat closet, the entrance is planned living an

models of Bendix, Philco and Youngstown équipment and awarded new models as door prizes. * . --/104-109 pound wooled lambs Grain Prices |closed at $27.75-28.25. Choice to! Stoc S Ave rage Sets [ptime fall shorn clippers reached {$27.50 during the week. Bulk No. Hold Steady; [1 skin and fall shorns $27.25. IT. J. O'Neil, new and used car: New : Low for Year ' Double Trend in Steers |sales manager of the Ford Divi| I ine : SoH Eh het ' ;0- Sion, announced Frank S. Lang- “ ’ . . Lard Breaks em Bs steer manet 2 iyo senkamp Jr, , |Bromert is a member of the Ase By ELMER OC. WALZER [the selling.’ Their losses on the 3 Ey Ine aCe OF hai sociated North Side Realtors, a United Pros Financial Editor week extended to “5 points ol : By United Press {under 1400 pounds sold strong to Program chair- t ) oe r NEW YORK, Feb. 23—Stocks/ Lo in the alls were| CHICAGO, Feb. 23—The fea- 25 cents higher but all others man. The meet- Quiver partner in She presently experienced thelr worst break of pe to tusil amounts in most in| ture of the market on the Board closed 50 cents to $1 lower. Heit- Ing will be held dissolved partnership of Evans1952 this past week with the gen- ces and the same could be Of Trade this week was the ers finished 25 to 75 cents lower. at the Marott |Bromert Realty, and for 24 years eral average setting & new 10W|gaid of the utilities break in lard prices down to new While cows and bulls closed Hotel. {was associated with one of the for the year. American Telephone Was nit lows for the crop year. Other steady to 25 cents higher although Mr. O'Neil, a city’s leading brokerage offices, Trading increased to a daily when the ny announced a markets were steady to firm with both classes carried a weak un-nalive of Mem en ——— average for the full sessions of| pian to {ssue new convertible de- the exception of corn whichidertone. Pa a. i 1,525,000 shares, against 1,242,500|nentures for another expansion |’hCV°d fractional losses. Compared to last week, most Grier shares in the previous week. Each Woolen broke Lard prices worked lower steers under 1400 pounds $37.25- 0! Indianapolis, program. American Woolen broke| throughout. the week in raflec- 3375 with two loads 1175 and having served as

i Easier Housekeeping Good housekeeping is easier

wee Ras a Zhen De. birthday] badly when the company omitted tion of the liberal marketings of 1280 pound weights topping at Ford's: district iS 4 when home walls are smooth and Prat makes the wh HOY, : the dividend. {hogs at western packing centers g3g9. Prime 993 pound yearlings sales manager Mr. O'Neil {free from cracks or {irregular much more prete

really is.

Despite the hearishness, the and the lower price of loose lard Eis. id] fir

Some market éxperts said the| to! 3 decline. was something of a selling| Tharket bir a og gE climax, but it lacked real vigor fractories ran up and held a gain {Just as the recent trading has when directors p |been very dull’:Sales on Wednes-| gor q day neared the 2 million share|,, it

ledges. Metal lath and plaster walls give a tightly bonded surface for every interior wall. These surfaces may be washed hundreds

$38.50. Several loads prime 1415- here from 1045 cents a pound, 1450 pound steers $36.75-31.25, to 1947. He is a veteran of 28

{the lowest level since June, 1950. Bylk choice to low prime fed Months’ service in World War I : E Corn responded only. mildly to steors and yearlings $32.75-37 and saw action in most of the roposed a two- advances in other grains with load i i : major campaigns in France as a ne split. E. R. Squibb spurted/ lower live hog prices apparently io 0003 nigh {oie 2m first lfeutenant of infantry. jo) ee A ho joints 8 activity in making a new| leading to scattered selling, lsold at $35.50-36 with bulk good Since joining the Ford Motor

| {

Constructic At Near-R

mark but the tape easily handled qruyg for treatment of tubercu-| The wheat market was aided by : = Co. as an accounting clerk . . the market without falling be-|jogis A few other specials closed | several factors in trade this woek.[l0 OW Drime Reiters = To0. 5 fn 1915, he has served . Ford's Levels mn . hind. the week with gains. {Reports that Argentine, normally | goa og 50 Bulk i Ti co district sales organizations in Construction act There was nothing in the news 1 eading steels lost ground mod- an exporting country, has become ~~" oo $20 5 an n Memphis, Dallas, Columbus, 5 PO RT at near-record lev that had not been known for some|erately and so did the motors. an importer of wheat was a con-| BrCia er wn aN€TS cleveland and Jacksonville, Fla. |

SHOW

See Ad On Sport Page

after allowance fo tors, according to jointly by the | Commerce and the ment’ Bureau of Li: The total value struction put in ple uary amounted to millions, a’ 4 per ce December, and a s! the January, 1951, Substantial incr year in military, public utility cons tained the level « outlays despite housing, commer Highway and some construction. Scho tivity also was ab in January. The “value of re Ing, ‘estimated at was 20 per cent age. The drop in

time. But corporate reports con-|Tires were hard hit for a time tinued to reflect the giant tax bite pyt they rallied and closed modand some companies cut -Origrately lower. Most of the major, Soybeans were about unchanged New for Old omitted their dividends, stressing companies reported higher earn- this week although price move-

the earnings reductions. These ings and Goodyear had its first ment at time was rather erratic, dividend changes led to the belief billion-dollar year in sales.

other companies will follow with cuts. i : . The decline centered on issues Modernize That Home that had fared the best in the re-| ‘“Modernize,” according to econcent rise. {omists who say that’ remodeling At the close on Wednesday, the old homes is the best way to get market had declined in 11 out of the most for the house dollar, A 14 sessions. The industrial aver-|single room or the whole house age in the period lost 14.02 points; interior can be modernized by

railroad, 3.56 points and utility, nailing metal lath over old walls and ceilings and replastering.

tributing factor to the advance, 2nd cutters largely $17.50-20.50.

Soybeans Unchanged

Subject of Mr. O’Neil’s talk before the Sales Executives Coun-| cil will be “Plan, Prepare, Sell.” | {He will be introduced by Lew Porcelain enamel has become Dunham, president of the council. with commercial interests on both the universal material for the con-| sides of the market. : ‘struction of modern gasoline sta-| In The Times you will find a! Oats were quiet through the tions and the remodeling of out-|far wider selection of homes ad-

week and rather devoid of any dated service station buildings, ac-|vertised For Sale than in any features.

{cording to the Porcelain Enamel other Indianapolis newspaper. Compared to Friday a week Ingtitute. Porcelain enamel sup-|The Times is the Real Estate ago, wheat ruled 23 to 33 cents plies the distinctive color combi- | Market Place of Indianapolis. ie a bushel higher; corn 3% lower to nations desired, is inexpensive] rte ettret 14 higher; oats 13 to 13 higher;land quickly erect is weather-| rye 3% to 11; higher; soybeans 14!proof &nd impervious

3 to attack| lower to 1 higher; lard 75 to 140 by the many petroleum products] points a hundred pound lower. ‘used around a service station.

| FORD FENCE

Lowest Prices

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Rall Losses Small

High-priced oil, mining and chemical shares bore the brunt of

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