Indianapolis Times, Indianapolis, Marion County, 30 March 1952 — Page 42
@
while steel wages, under the
. formally . approving a higher
‘Business Outlook— Big Question, No Answer
By J. A.
Livingston
WASHINGTON, Mar. 20—Here, a5 in Pittsburgh, Chi-
cago, Birmingham, St. Louis, centers, the big question is: averted without wrecking the program? There's no answer,
The hope-—the big hope—is that Phillip Murray, president of the
United Steelworkers of America, another 2% cents on Jan. 1, 1953,
and Benjamin F. Fairless, president of the United States Steel) Corp., will really sit down and make a private bargain-—without! government help. Or, if Murray can't do it with Fairless, perhaps he can make a deal with Eugene G. Grace, chairman of Bethlehem Steel, or Charles M. White, president of| Republic, and so establish a pat-| tern for the industry, That would relieve President Truman, Defense Mobilizer Charles E, Wilson, and Economic Stabilizer Roger I, Putnam of
wage-price level, The government's stabilization program would be temporarily saved. |
Wage Stimulation Board
But whether the Wage Stabilization Board can -continue to function 'nfluentially is something else again. From now on it's suspect as pro-labor. The Ateel package is variously estimated at from 26 cents to 31 cents an hour. It would add 132 to 14 per cent to
the steel industry's wage bill. It would put steel workers well ahead in this year's wage parade, And it could readily act as a target for other labor leaders. ‘Already, I have been told, several unions, in the middle of wage negotiations, have upped their demands, arguing: “As steel goes, so go we!” With this rec ommendation, WSB has really earned the title, “Wage Stimulation Board.” True, not all labor leaders are in a position to reopen contracts or to demand higher wages, In textiles, for example, some manufacturers are seeking wage reductions. Labor there is in a buyers’, not a sellers’, market. In autos, electrical equipment and on the raliroads, long-term cost-of-ving clauses are in effect. The contracts are not immediately openable, Nevertheless, may not Walter Reuther try to reopea his contracts with GM, Ford and Chrysler so as to keep pace with Mr, Murray? If so, the WSB recommendation {is ‘decidedly unstabiHzing,
Awkward Timing
The drop in the cost-of-living index for February adds to the
and. other steel and industrial How can a stéel strike be entire wage-price stabilization
proposed a 12'3-cents an hour increase, retroactive to Jan, 1, 24 cents more on July 1, and
as well as other benefits, As I figure it, the proposed settlement works out to roughly $5.80 a ton of finished steel for U., 8. Bteel, to $5.30 for Bethlehem. That's not far from the industry’s statement of about $6 a ton. However, the industry goes on to say that other costs will go up the same amount. Therefore A §12-a-ton Increase is needed. That sounds like Oriental-bazaar bargaining.
Need for Political Coura
Mr. Murray, of course, is only asking for what President Tru man’s own appointees suggested, Therefore, if the President were to reject the findings, he would seem to be flouting labor—throwing away votes—in a presidential year. But would he? At the moment, homefurnishing and appliance sales are slow. Television manufacturers have Just announced price cuts, ditto refrigerator manufacturers. Fowler B. McConnell, president, and Theodore V. Houser, merchandising vice president, of Sears Roebuck & Co. told stockholders that a rise in steel prices might “price metal goods right out of the market. We do not see how the public can take it.” A rise in steel might aggravate the decline In retail sales generally. That would hurt all labor— steel workers as well as other workers. Therefore, the President -— in the interest of employment — might urge Mr, Murray to bargain out his differences with the steel industry so as to avoid a large price increase. That would take political courage. It would also have political appeal. Most people, workers included, want to see living costs held down. And to most persons, the Wage Board's proposal probably seems high. Particularly to workers, as in copper, rubber, or paper nag pulp, who took 15 cents or 08s,
Prep Shop Opens To Serve Young Men
The Prep Shop, a new store dealing exclusively in clothing for males 6 to 20 years, opened this week in the modernistic
President's problem. This was the first decline since last June. It fo in the wake of a prolonged decline in wholesale prices of food, clothing, and house furnishings. 80, it may be more than a one-month phenomenon, If so, a large sector of American industry may be taking wage cuts,
WSB plan, are rising. For WSB
RUBBER TILE
shopping center at 21st 8t. and Arlington Ave, The shop is operated and Mrs, Bert Turner, who also run the adjacent Tot 8hop, which
ladies and girls, The store is completely mod.
counters or wall cabinets. ing is strictly informal.
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SYLVAN ESTATES—This three-bedroom rancho, built at 6224 N. Tuxedo St. by W. L. Bridges and Mrs. Norman E, Titus by the builder. The home features a wal nut paneled living-dining room with a fireplace wall. : .
New Partners Open Office On W. 16th St.
Mr. Mitchell A new partnership, Mitchell- other grains. Reports of actual |? the school's five-day curricu-
Mr. Waltermire
{Waltermire, Realtors, was an{nounced formally this week. The firm will have offices at 3330 W. 16th St. and will handle all types
of insurance in addition to real estate. The partners, Kenneth Mitchell and W. N. Waltermire, feel a partnership offers greater service to their clients and will double their listings, producing quicker sales. . The firm currently employs George G. Mueller as salesman and will hire another two for their sales staff. Mr. Mitchell has specialized in West Side and suburban real estate sales since 1937, but will handle sales in all areas of the county. Mr. Waltermire, for 12 years property manager of Rallroadmen’s Saving & Loan Association, has been in real estate brokerage since 1945. Four years ago he opened his present office in the Merchants Bank Bldg. Former secretary of the Indlanapolis Real Estate Board, Mr. Waltermire has also served as chairman of the Property Mangement Division of the board and vice president of the local chapter of the Society of Residential Appraisers. Mr. Waltermire will maintain his office in the Merchants Bank building in addition to the new office.
VENETIAN BLIND -
Door Bise
39
Other sizes proportionately.
VENETIAN BLIND LAUNDRY
EE
» (apparent
i |a-bushel limit decline in the Win-
|Grain Markets Off During Week
CHICAGO, Mar, 29 (UP)— Grain markets were lower on the Board of Trade this sweek, with losses ranging from fractions to 4 cents a bushel.
out much of the week with the reluctance to stemming in part from uncertain
? [rean situation but also the steel “7 |situation.
Also items such as a 15-cent-|
nipeg flaxseed futures market,| heaviness in vegetable oils and
October and December soybean
couraged some traders. | The wheat market showed more resistance to the decline than
lor potential U. 8. wheat were receiyed throughout the week and there ‘was commercial support in this grain, In addition there were |prospects of little or no moisture in the southwestern winter wheat area during next ‘week and a better tone in outside markets. | . ‘North Side
Subdivision
To Be Opened
A new North Side subdivision,
Trade was rather light through-|¢ phim ho Th ”
trade tion of Real Estate Boards, will
ties concerning not only the Ko-|
cotton, and trading in Chicago]
| meal below the ceiling level dis-|
export business in|lUMm. Lectures on the economics
{Downs Jr., president of the Real
Management To Hold Class In St. Louis
‘The Institute of Real Estate Management, an affiliate of the
hold its annual one-week management school in 8t, Louis Apr. 21-25. Purposes of ‘the course are to give a clear understanding of the functions of the property’ man. ager; to give an insight into new operating and management economies, and to give training in the methods of determining the trend of real estate values, For the first time a course on the formation and management of co-operatives will be included
of the real estate market, mohetary influences and taxes, general and cost accounting for management offices, leasing and merchandising, insurance, and allled subjects make up the | course. Outstanding Faculty
Five leading management executives and real estate educators in the country will comprise the faculty. They are James C.
Estate Research Corp, Chicago; Kendall Cady, vice president of that corporation; Durant Taylor, past president of IREM and lec-
Palmer's Kessler Blvd. Addition, is being opened this week by Fred| Palmer & Son Realty Co. It is!
29 and 57th St. The addition will offer lots for homes ranging in price from $15,000 to $40,000. The triangular site contains about 2414 acres and is platted in 41 lots, Along Kessler Blvd. the site has a frontage of about a half mile. These lots will be limited to the more expensive homes. Twenty medium-priced brick homes will be built along the 57th 8t. frontage. The addition is close to Crooked Creek School and is serviced by numerous churches and a nearby shopping area.
NU-WA HOME SUPPLY CO
{ [ATI 1 1
13 en 3 | 3 a Frec Estimate, RI. 5894 236 E. New York St.
& F 3
turer at Columbia and Boston Universities; J. Russell Doiron, president of the Louisiana Real
bounded by the boulevard, Ind. Estate Association and lecturer gains than the rails. Texas Pa-|
at’ Louisiana State University, and Wililam 8. Everett, past officer of the renting and management division of the Chicago Real Estate Board and the Apartment Building Owners and Managers Association of Chicago, Anyone seeking knowledge and training in real estate management is eligible to enroll.
Eben ddiniindil Two big comic pages eve weekday in The Times. y
On Stock Market
“ifound the market almost at a
Pace Advance
NEw YORK, Mar. 20—Raflroad shares spurted to a new high for nearly 20 years late this week and led stocks higher after three sessions of decline.
The'fitst three days of the week
standstill with daily turnover of a bit more than a million shares. The pickup later lifted the daily average for the whole week to a level slightly above a week ago. There was nothing in the news to stimulate the market. The early dull recession was said to reflect worry over the threat of a steel strike. The recovery came without any indication there would not be a strike.
As one broker put the situation: “The lack of volume early in the week and the inabliity of the market to follow through on the downside pointed up most forcefully that the market does not appear to want to go down.”
Friday Trade Spurts
It was as simple as that, and when a little buying developed in the volatile oils and rails, the whole list quickly turned up. Trading in the Friday session rose to 1,560,000 shares, most for a full session since Mar. 4. Some traders held that no matter what the outcome of the steel wage negotiations will be, there is bound to be a steel price increase and they believed such move would be inflationary. Another inflationary angle was seen in the belief the steel wage pact will be a pattern for other contracts in major lines except the automobile industry where the contract runs to 19585.
NP Stands Out
Northern Pacific stood out head and shoulders above all the rails. It was pushed up by its vast holdings in the oil-rich Williston Basin of North Dakota. This week, however, practically all members of the rail group making up the averages joined the rise and advances ranged to more than three points outside of NP. New York
week, dropped 30 points or so.
|
& Harlem, sensational gainer last| 8nd pictures,
___ SUNDAY, MAR. 30, 199°
Livestock
a
Prices Up For Week
By United : CHICAGO, Mar, 20—Despite an advance in livestock marketings this week, prices were, able to show a rise. Hog prices gained the least in a week of fluctuation,
turned lower and by Wednesday the top had dropped to $16.90 and the average cost of $16.45 was,
the lowest since April, 1050. How ever, lighter receipts after mid week and increased deman boosted prices to a point equal t
ing top $17.25. Closing prices on choice 180-220 pound butchers
pound butchers brought $16.4017, while 280-310 pound butchers) sold at $1590-16.40. Few loads 325-390 pound butchers were $15.25-15.75. Sows 400 pounds and less closed at $15-15.65 with 400-500 pound weights at $13.7515.25. The sharp advance started last, week in the sheep market con- | tinued this week. Prices gained fully $1 with instances $1.50 or) more on all grades of fed lambs scaling over 109 pounds. The week's top of $2850 was paid freely. Compared with Friday last week, No. 1 skin and fall shorn clippers reached $27.60 and 92-107 pounds summer shorns $28, Late bulk good to prime 105-110 pounds fed woolskins brought $27.7528.50 with 115 pounds as high as $27.75. Most 118-128-pound lambs during the week were $25.50-27.25, closing at $26-27. Native old crop lambs were $27.50 down and cull and utility natives were $18-24. The first spring lambs of the season averaging 65 pounds brought $30. Good to choice 110-135-pound slaughter ewes $1515.50, odd head $16. Cull to good mixed weights $11-14.50.
Complete dally TV and radio
in your daily In dianapolis Times.
Oil shares made much wider, cific Land Trust, with another Amerada, Superior Oil of Cali-
gains. advances.
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SELECTION and QUALITY
Today you can select from thousands of wonderful bargains. Today you can buy at Mid-Winter's lowest prices . all makes, because the cars offered in this great sale have been put in tip-top condition. Many completely overhauled, repainted, new tires and batteries. Still many others that needed practically no servicing because they were driven so little.
PRICES and TERMS
A visit to the dealers showrooms and lots will quickly convince you that prices are extremely attractive and that terms are very easy to yment, post-war cars require more than taken care of by her prices after April first—they're
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NOW TO THE CLASSIFIED PAGES OF .....
| The Indianapolis Times
Indiana's Largest Used Car Shopping Guide
’-
a;
adh,
Re
SUNDAY
Ow
¢ ”
41 Houses fo A ————————— NEW SUBUR OPE
frame, brick an catéd tn the Gre block east of Em (Shelbyville Rd Lane. This idea ness to downtow e.plants featu
completion ail of which are Homes feature rooms, large clos pat. finish Dire and kitohen bull with la ou and water tached breesewa have a large gs doars; yards are scaped with ‘side 16.000 to $20, nancing availa
considered, and
chased on contri ur sales force office daily to inspection .of =n various stages 2748, __ CHAPMAN-§' CO! Good 6-rm. I lots; 3J-car gar. Churchman, £4500. Terms, MR. BEHREN McCLANHAN RI}
FOR COLO#
2-8tory home | of condition, Yo “new like'’ condit 1s a bargain you $2000 down. BR
I ———— 42 North I
Fir
OWNER >a) This beau home is goin body a good Svivan Estat 300 at 3737 4 Bedrooms, ment with First floor | ond floor ha 3-Car garage it's best to Waddell, HI-
BRUCE Sy
Circle Tower
NE! 4F a» Four bedr 13x11 and ranged closet 24; dining ro en and brea ranged cabin 7 closets. Nic from traflic transportatio churches. T very good co the asking p venient term Can be seen Sims, WA-89!
JACK C
120 E. 4f
FIRST 1246 N. Substantial {n a convenie home comp!
Circle Tower OPEN SA’ 4165 (
ready to m furnace, 10 1 rooms; mod: L. R. both with « Large fenced location for 8t., shopping.
215 E, 63 spacious bur 1941. The liv burning 1) rm. an i tile bath. 1 Convenien brkist.
Ie MARGARET EVA GL-2284 R3¢ OPEN SUN THIS 18 YOU'VE BEE) Real beauty at and only 5 mos. baths, immac. 1 carpeting and d you will be pro one you'd never } for the down pr be sorry it Iu] y ays by a week OF 10H 5 TR-4568 4901 _ FIRST _ 4700 N., 3000 F 2 twin-size bedr 1ge. liv. rm. with
huge picture win rm., knotty pne tile floor. Lazy-
eating space, a basemt. with oil water heater. L pletely redecorat shape. Shown by BR-4998 PAUL PARTL! BR-3633 5425 COI
EXPANSIO BROAD F All brick, bul rooms with stair carpeted living glass bath, tile porch, full basen heat, garage. rT rear yard. You room yourself, 1]
WALT \
6208 COLLEGE, _
IMMEDIATI LARGE This home and has fir oil burner Screened po; needed. Mov $1500 down. AL ALIG. G
FIEBER & R
REE--LIABL RENTS—MORTG
NEW new a bdrms,, 1!3 tile iream kitchen built-ins, full bsi Car gar., 's acre JOE BERG “Your Neighbor €325 GUILFORL
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Beaut,
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WYNNEDAL Excellent | bedrooms ar brary, livin room and ki ment; hot-ai 350. 22-Ca
AMERICAN Realtors 532 Ci CHRIST 3-Bdrm. fami one block from school. This I frame home ha rm. din, rm, ar There is room fi in the unfinished screened porch Fred Tucker. Jr
F. C. TUCKE
PRICE 1921 EAS
Nice 2-bedroor on lge. lot 112°» en house and I Dorothy Frankl
HALL-WF REALTORS, 1711
BRICK B 5000
This excellent built in 1949; ow sell. Modern kit basement. oil hi carpets. - Immed! Herrold, LI-5745, FORD WOODS M
BROAD F 1941 5-Room b {ar couple. Cai Venetian blind: Rec. room, Oil | rear yard. About Shown by appt.
SCHMIDT "*42500 DO
1928 N. TALB snd also incon § od _transporta
60 JOAN MAX R
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