Indianapolis Times, Indianapolis, Marion County, 17 April 1952 — Page 12
PAGE 12 :
ARR AS
Castles Go Up And Then Fall
By Harold Hartley ‘
. EVER SEE Junior building a block castle? "He piles 'em up, higher and higher, until he can hardly said today ‘the Agriculture
reach the top.
equipm Hut profit.
bucket.
in,
is also
fon.
er near - bys show are Dr. Clarefice mson, and Profs. Braden of IU, R. C. Thomas of edue, and Hiram Jome. of De- hy, with a far-away look in his
t,
heme tax.
‘while
ent,
+ The last batch of NPA Sper. mits” handed out in Indiana to21, and added up to about Reserve District, even with busi“million, just a drip in the|ness finger-tipping
{It's mostly metals, power, rail- did better than the rest of the roads and mining, the heavy stuff. And it's got the sharp pencil boys greatest metropolitan gain over 8 -doing their arithmetie,
+ INDUSTRY Is Spaiding mich ster than population and money H, Block Co. was the tenth big-| sly. 80 the luntheon table gest space buyer in the country, Subdivision, to store government. Babsons are ready to put it down and that Carl Reith at Kroger's ©Wned surplus grain in the eleva-| hack and white that we're|in Indianapolis was 25th in the 'OT® at the much higher com-| setting ready to drown ourselves whole nation, production, 1 And we're already in it up 10/in its class. And those moving ada| {70m the General Accounting Ofaur ears. There's a pile-up at some! created by V. P. Sam Freeman of fice and the. Agriculture Departgtorfes, in the leas preferrediy, Strauss & Co. rated 15th among Ment—covered the years 1949-51,
The company didn’t want toipays off, buf prices, so it used the trade-in mick which was, in effect, a Two Top-Raters Right price cut of $100,
WAS. ” a at wht 18 to buy against ; A 6 buy it with, the cash or New York's Waldorf-Astoria last! goods is outrunning
P IN THE Antlers Hotel for|ing, Tn of the Wilking Music bh. next two days, some of the|Co. for “selling music” along with gitry's top business thinkers|instruments, telling the stories of DI the where-we-are under musical events.
er) Graebner, head of rl. school, oMnAup as the 16th annual meet-| standing job of presenting Brand ng'of the Midwest Economics As- Name hardware with a ring of
Pauw, ! A quick look at the packed-in/close-grained freckles. program tells me that most of the Bpeakers are campus-bred. But/used to be a boy guide in the Jey miss nothing. z
! THEY'LL tackle boi, with J.| He A. Estey, from Purdue Univer. With Karl Stutz of the General ty, presiding, while Charles C. Kilingsworth of Michigan State shoving off today to stake his adds up five years of the Taft- claim in Daytona Beach, Fla, Hartley Act. *« ¥ = K at unemployment insur-
tion will get the call in torg something to do when they
& Second session Friday morn- . I'd like to hear William W. to the folk back homje. of the University of nati will tell what he thinks
change them, And Frank Knight of the University of Chicago will
“economic freedom” “freedom” at the Friday night. Maybe he can do it. I can't,
” » » SATURDAY will. go to figureione you're looking for is dows so men, accounting, economic theory, far this year. marketing and
Then they begin to sway, so slightly he doesn't notice. ale
The first thing he knows, he gets conked. And the tears run. The boys with sharp pencils/ have a lot of fun with them, Have been adding up the optimis-| tie handouts, and watching busi around a statistic or two. mess build its own “block castle” Higher and higher,
” . » . THIS YEAR about $24 billion will go into plant expansion, a It Pays, and Pays ot of it on Uncle 8am, through the fast write-off at the tax office. * But without the tax write-off, business is spending its dough to save taxes, putting it into new buildings,
very truthful, I know you can
And I hope the professors kick
After all, aren’t they away from home?
I HAVE BEEN looking over that tight little digest Lou Young puts out. As ad director for The Times, he eye-skims telltale barometers; anything reads them all, adds them up, then passes the good word around. And “good word” it was, this week, In the Seventh - Federal
last year's figures, Indianapolis retail stores
ibig towns, and showed the
the true-level-year of 1050,
. B. »
HE TIPPED me that the Wm.
Marrott’s Shoe store stood 16th
It's so much they're cutting | men's stores. And Hook's stood 12th among 0 Bet because of heavy‘erop sur-
the space users of the country.
ONE BIG MAKER of ap. 818-00 th neces offered $100 for your old
And they to junk
posed to enough customers,
». on GosasCola. export, laid it on nl
welghiyine to Brand Name retailers in
ounce of security guaranteed the
ary Tauren. an ounce of freedom. -
of the dark thirties,
BUT s {0 make were the awards to Indianapolis merchants for their advertising ‘spell _trou- merit. One was an habitual win-
» = HE Pi one at & ner, R. B. Carmichael, ad man-/o. ace operators. He said it cost
ager for the Vonnegut Hardware
CO third tm ther was Frank o. Wilk-~
For this he credthe! ited his ad manager Howard Suttmiller, Mr. Carmicael was given a bills the plaque for Vonnegut's for an out-
and before
confidence for product and com-
running the|pany.
“RED” GADBERRY dropped
eyes, and his outdoorish face of He is from Horge Cave, Ky. caves, And that far-away look had a touch of the South. has been sales manager
Electric Supply Co. And he's
Then theyll take THERE HE'LL open an amuse-
ment center to give up-north visigo down south to write postcards
It ix something of an adven-
{of the storage space involved. The
[Price jumps as U. 8, buys planes
ance THEY BUY big space, They an struck fpigerator. And anyone Knows pave this in common. f old refrigerators are worthigre gil successful, jl. People went out to to buy junkers for $10 10 thing, When merchandising is ex-| it the Agriculture Department con-! (tracted to store grain in facilities leased by private {from another government agen-
actions were handled completely {within the Agriculture
That seems to tell me some. ment.
BIG JIM FARLEY, now boss of ey.”
ght. department can't always What he said added up to every | {what another department is do-
: culture Department. itself owning ! It was an old story, hut com- the facilities,
host no one to buy our stuff expt ourselves. jitical general in the low oo paying
THE CHIEF VALUE of expan: Stand for more. that it makes work. But builds the Ope thin We can
po- ito private operators and itself
» » . EVEN more important the entire properties.”
Leased Out ; To Business. For $231,000
By JAMES DANIEL Serio tioard Stall Writer
WASHINGTON, Apr. 17— Sen. John Williams (R. Del.)
Department ‘leased six grain
elevators to private operators for 31,006 and then turned around and paid $045,000 to have grain stored in them, Furthermore, sald The government, on the aver age, actually used only one-third
fen. Williams]
IT'S ONLY MONEY How to Get Rich in Washington, Page 19.
back, Page 36.
rest was available to the operators for storing privately owned grain, The government elevators are the responsibility of the Farm Credit Administration (FCA), a subdivision of the Agriculture De-| partment.
The FCA rented them cheaply, thé card from his
to private operators. OMeial Figures
The operators then got the Com-| modity Credit Corp. (ece), {another Agriculture Department
{mercial rates, Ben, Williams’ figures-—obtained
when storage capacity was hard
| pluses.
Ben. Williams sald he was
Py the fact that the trans
“We've had
|
individuals
he said, Same Department
“The point was made that one know
strict
HERE'S MY CARD—The H. C. Gammon Co.'s "Little Duck” hands out his calling card to Miss Betty Shanks Jett and Mrs. Irene Campbell at the firm's Home Show booth, When you take | the duck swivels around and picks up another card. Created by Russell Sim- | mons, Gammon employee, the duck was made in fhe company mefal shops to advertise their ' "Lite | | Duct" heating system at the Home Show, It works on suction.
ill
* THE INDIANA POLIS TIMES
«Business Senator Finds U. S. Ronis Back its Own Bins
FA re SNe
sia panier AE
Vs
THURSDAY, APR. 17, 105
Mrs. Kerr Won't Drink,
But It's
This is the fourth and last of series about prospéctive official hostesses of Democratic presidential candidates.
WASHINGT
ing. drink.
“But here we have the Agriitself leasing them
the private
ment was receiving as rent for
Sen. William said he knew that not all ~f the $945,000 from the government was profit for the
them money to handle the government's grain, But, he said, the
ment’'s business was available for other money-making purposes.
Hay Prices Dip At Yards Here
Trading at the Indianapolis
bid on choice 170-240 pound hogs, which was 25 cents lower than yesterday. Barrows and gilts weighing 240-270 pounds sold at $16-16.75. Small porkers, 120-160 pounds, sold at $13.50-14.50. Choice 300425 pound sows sold at $14.75 15.50, Utility and commercial heifers and steers brought bids of $2320.50. A few high commercial cows sold at $26.50. Most bulls were unsold. Vealers were selling 50-cents-$1_ higher, with 536 being top bid on choice and low prime, mil? of, Stl, of, 1 Sif boy 0708 bouts UIE: an0-3n aes nds. $M, Ts. dade He
tle i calves 300: slaughter in and heifers inostly stea ¥ ou ad on fairly active, others i good to choice steers 1000 pounds -down $30-35: utility and Commer=
saa "ow
ture, pulling up and shoving off. But he'll do all right. He always
i the practical Jimits of in-ip.. 80 Jook him up when you!
make your next run to the sun
+ I've never seen anything prac-|qown Florida wa Yical about income tax, and cer- ¥ iainly there have been no limits. It's all you can pay. A ” ” ”
THEY'LL TOUCH everything, gol the sales tax, European recovery,
South and West
I PICKED up a Dun & Brad-/ street tab on where business is
ng. It's on the move. And you can
fafm supply and demand, bank-/iap 41 best b y looking at the ing, foreign trade and a thing cafe “Hetorodoxy,” ‘which 1s states where the incorporations
y being stubborn about the way things are, and wanting to{are Massachusetts and Michigan. But California is up, along with night in the 2300 block of 8. Georgia (strong), Oklahoma, Lyndhurst Drive, match{Texas, Tennessee, Virginia and| Mrs. Colleen Cravens,
are on the rise New York state is losing. So
with plain| Wisconsin. All down, Connecticut is up, so is Pennsylvania. But Indiana, the!
statistics. ‘And
Generally, it's south and west,
figures are supposed to be where man thinks it's best.
we
Eastern states are not husband, John P., 20, who was
©
cial $23-20.50: cows slow, early sales steady to weak, most later bids lower; utility and commercial cows $21-26; few high com{mercial $26.50; canners and cutters $17. bulls slow, most bulls unsold; vealers fairly active, steady to atr , About {3 cents-s1 higher: choice Ane Brim $33.36; few prime 3 A OMMETCIS {and good 326-33: cu Tod tility 38. Sheep 25; nominally steady; receipts i {scarce "tor trade test,
Expectant Mother, 16, Injured in Crash
A 16-year-old expectant mother was in fair condition in Methodist|¢ Hospital today with injuries suffered in a head-on car crash last
RR 2,
suffered Her
internal injuries. driving, was treated and released. Sheriff's deputies arrested Ray | Wilson, 50, who gave his address as 5767 E. Michigan St, on a charge of drunk and lil {without a license.
operators sonyictions. made it much more for the use of a part ps
of the facilities than the depart-
Jr,
The Kerrs'
time for fun, eration is so said.
He attends
teetotalers,
By United Press
ON, Apr.
views on drinking are personal, based on religious They don’t object when other people drink. “We don't care for it, but we don't criticize people who do,” Mrs, Kerr says.
Mother of Four
Grace Breene Kerr is 51 and the mother of four children, but she has looks any school girl would envy, She is slim, lithe space not needed for the govern-|and carries herself so gracefully that she stands out In any crowd. She has blue eyes and a fair coms plexion, ; At 5 feet 10 inches, she is the midget of the Kerr household. The | Senator, a mere 6-foot-3, is over shadowed by his three sons, Bob, and Bill are 6-feet-4, and
serious,’
17 —1If Depart- Mrs. Robert 8, Kerr becomes missome cases where tress of the White House, Win« ston Churchill will have to bring his own brandy should he come for a state visit, | The Senator from Oklahoma, |a_ candidate for the Democratic |presidential nomination, and his attractive, honey-blond wife are They never
Stockyards saw a top of $17.25/brunet, is 5 feet 114 inches. Kay, 20, is a junior at Wellesley, and her mother worries lest she soprano voice and once had amstudies so much she doesnt have|bitions to be a concert singer. “This youner gen-| But that was before she met Boh bedroom) Mrs. Kerr|Kerr, then a young lawyer, on a|Pished house in one of Washingtennis court in Ada, Okla. He ton most attractive suburbs. - Bob Jr, 25, a lieutenant in the proposed on the third date, and Army, has just left for Korea. He!they married soon after. is married and has a 16-month-old son, Breene, 23, is a lieutenant have always stationed at Ft. Monmouth, He is married, too. Billy, 14, the only one now living at home.
Liquor is never served in their home.
N. JL
“Sen. and Mrs. Robert Kerr
tor is a Baptist and Mrs. Kerr Is
{admittedly is
Wanted to Be Singer lclined.”
Mrs. Kerr has a lovely mezzo)
husband come first withi/race.”
Home,
| White House.”
OK for You
She is Intelligent, an easy con-
Breene is 6-feet-6. Kay, a pretty & Christian Scientist.) | versationaljst xd ell eat, but
In Washington, the Kerrs live! in a comparatively small (four-| but beautifully fur-
Mrs. Kerr is enthusiastic about her husband's campaign — “he’s and childrenithe best - qualified’ man in the She is less keen about the Grace Kerr, even though her hus- possibility of becoming Fifrst Lady. isband is an oil millionaire, has| served one term as governor ofipeace and quiet,” she says. the Quaker High Oklahoma, and now is in his sec- know you wouldn't get it in the School in Washington. (The Sena-'ond term in the Senate.
‘I'm a simple soul who loves
died
Noted Geologist Dies in California
1.08 ALTOS, Cal, Apr. 17 (UP)|last 25 years took him to many —Max Steineke, credited with dis-|parts of the world, He was given covery and “development of theicredit for discovering and develop~ vast Saudi Arabia ofl resources,ing new drilling methods which at his home here yesterday|brought the oil fields in Saudi following a long iliness. He was Arabia into world prominence in 54. Mr. Steineke was a native of|the mid-1930s.
Since 1936 he had served as
Brookings, Ore, and a graduate), .. oo iogist for the Arabiane of Stanford University. 80
American Oil Co., which operates
The geologist’'s work during thefields in the Mideast,
Fletcher Trust Company Statement of Condition March 31, 1952
RESOURCES
Cash on hand and with Federal Reserve and other banks ....cceeee..$ 29,466,515.74 United States securities ....ccv0000u0000 65,080,186.68 Other bonds and securities ............. 18,737,360.63 Stock in Federal Reserve Bank ceveecece 150,000.00 i Joans and discounts ........co000000000 1944349087 - Buildings (9) and equipment ..e.oeessess 1,001,154.78 Other TeSOUrCeS ..scescssssesssrssssntnss 75,910.83 —————————— $133,963,028.33 LIABILITIES
Capital Stock ses ees essas.$1,500,000.00 Surplus sssesssrsnveansssee 3,500,000.00 Undivided profits c.oseeses 1,087,27862 $ 6,087,278.62 ROSEIYPR varancsinsscnssinsissnccnansocs 101,749.00 Accrued interest and taxes ....cce0000ve 423,833.96 Deposits oissessavicinenssrinenenssicess 127,350,766.95
$133,963,628.53
Member Federal Deposit Insurance Corporation
“1
Bom
INDIANAPOLIS CLEARING HOUSE 38. 48,
we Teachers Group Hears
Produce
ln cise season
Oats, 8%.
Truck wheat, $2.
a
New No, 2 white corn, $1.74
u. Local Truck Grain Prices. The businessman and the pub-|1:39%c: U.S.
“School Board Member
lic school have a lot in common, cial graded 40 School Board Member Paul E. |regeints:
Jones said last night.
cases
per cent), white 35-36c. brown mix 38-36c: 30-32¢, mostly 30-3lc. Market steady’ to firm.
s3—FOB Cincinnati, consumer giade. | A, large white 40-43'%c. brown mix medium, white 35-30'%c, brown mix 35-39'%c; wholesale {commerextra large current
proved for top quality eggs. Prices un-
mand
in. Member Federal Deposit Insurance Corporation.
The Indiana National Bank
of Indianapolis
Statement of Condition, March 31, 1052
RESOURCES Cash on hand and on deposit with Federal Reserve and other
DANKE .ootereeenesns.$121,642,457.79 ’ United States govern-
ment securities ....... 183,423,762.57 $305,066,220.36
Other bonds and securities .............. 27,446,883.54 Stock in the Federal Reserve Bank ...... 645,000.00 Loans and discounts ..........cvvevesns 82,535408.81 + Bank buildings .........ccv0nvenenneess 2,000,000.00 Accrued interest receivable ............. 1,110,650.74 Customer's liability under letters OL ErEIt oo. vevernsenrsrssirsnsnannine: TODROTSES OtREr TESOUrCEE ov ivsiicssnesrrrrves ven 190,740.19 $420,021,179.16
LIABILITIES Capital + ousrvaesssvass.$ 6,500,000.00 Surplus .c.ii.cenesenss. 15,000,000.00 Undivided profits ........ 561,733.58 § 27,191,733.58
Accured interest, taxes and other expenses 1,013,115.93 Dividend payable April 1, 1952 +..00vesee 162,500.00 Deposits .yesensvivnrsrnnsinsiinneneses- 390,185839.04 Unearned discount .......sssnuransionse 401,153.80 Letters of credit issued ......o000vevseee 1,026,27552 Other Habililies oo..cusvunsaisvsivemieis 40,560.39 §420,021,179.16
Fidelity Trust = - ~ Company
of Indianapolis Statement of Condition, March 31, 1952
RESOURCES Cash on hand and in banks .........ise0. $7,946,305.35
United States government securities ...... 8,060,652.28 Municipal bonds ......coiviiiinnansnnese 16444307 Stock in Federal Reserve Bank .......s.. 30,000.00
Loans and discounts .........cce0eivnves 12,204,936.03
stern ud Teie 5 pid ritles co
Injured ........
New No. 2 yellow corn, $1.66. In an address before the Indi-| Ph areed to 1 cent higher ge. better qual- Bank buildin and ui Serum. 12.47. _____‘anapolis Commercial Teachers| “ovickens_Comercjaile grown _trers g equipment ...uoveeeee. 167,617.02 Association at Shortridge High yoaos. ens. heavy Total Resources ........:oevsninnidon. Local Stocks ‘and Bonds School Mr. Jones said both i a cog Rt in iver * $28,574,043.75 > |schools, and businessmen are Lg gr yin or yaad. Prices: 1 LIABILITIES xg TPT 1h 103. ames C€rned with the progress of the, 10 ans. Market swndY co Tae: pres] American % ” «individual. | mium Buttertat 8 We: i_resulsr ssc. Deposits csens fesse vneT evenness nsanns 26.8 American States Class A ..... 6 +++.$26,878,443.22 American States Bid ...... 24 ‘| He warned the businessman! Capital stock ...vveeaeeneee.$500,000.00 fvishire Ue fom .... 13% 17%/too long has devoted himself only Sentenced for Beg Begging Surplus 500,000.00 tk yds dom 1 4% 3%to selling his products, failing to | ari ET JH Sik Ys Ba a mg ay under| While Dressed as Nun | Undivided profits and | Binns fh Sis th oq which he operates. di |v YORE. apr. 1 a a UP , el o a cave v sesssnsaces 519,704.27 1,519,704.27 A wm’ Ni INDIANAPOLIS TRAFFIC [nounced as a “phony nun and a| SEOUD' retreats 17830606 Sitizens ine Je a» pra t sn : CASUALTIES | menace to society” yesterday by Total Liabilities ...,.... sennnnsnness 328574 043.75 Aa 5. pe. 0 ML (107 Days) | Magistrate Hyman Bushel who . ’ Cummins Eng com. ............ 4 1951 1952 | sentenced her to 30 days in jail Cummins gf aii lta Blec com ... ... 15% Accidents ...... 2209 2152 for begging from subway, passen-
u table
LEG EN Ls SCAttIRiD " ATT ras . SHOWERS
+ [EIRENE
sLecron FREE IING RAN
Snow
Nat! Homes pfad N Ind Pub Serv N Ind Pub Serv D Suv
EE Land? ry
com 44 oid 415° pt 4.56 of
Bib Sar of 3; An on ‘ Bie. 4 iv ptd
lands ELLE) ene
Bay Sie ot! Hi,
Jefferson Sagienal aie com he
vel Killed | UNL 20
ee —
| habit.
949 | gers while dressed in a nun's|
Ea
»
Total ~ LIABILITIES
Surplus * Undivided PROBES sui visrintivinsenrnnes Reserves for contingencies, taxes, ete. .... Other Habilities .suueivrivosnssvnesreadin
SaeRaaansass ean se nat iat arats
‘Member Federal Deposit Insurance Corporation
18% py The Merchants 3% . as National Bank 19 " of Indianapolis 124 Statement of Condition, March 31, 1952 3 > a RESOURCES 10s Cash and due from banks ..... reseenees$46100,213.31 a United States government securities ...... 64,941,953.38 1% Other bonds and securities ........oi0.000 9,603,562.74 uh Loans and discounts %......00usu00 000000 20,8904,718.08 Federal Reserve Bank stock vivvesrse..d 150,750.00 “Bank DUlldIngs’ wuviissiiseiinivyeneinass 900,000.00 Other assets eereirsidinnnn i Tigi sans | 1T7,918.37
———————— creenseeadiiennn nada, S151850.113.48
5
CODIAL jx srs vavasi sari nsnss dns iibunsnses $025,000.00
3,000,000.00 2,227917.92 872,438.36 32,980.66
Deposits I RR Tearest : ne en Total ceverasasniereesuaseaseiiions §151,850,113.48
cen
| Member Federal Deposit Insurance Corporation
-
$129,107,923.06 oe . LIABILITIES " Capita) BOCK re sennni.. os tesassaeea § 2,000,000:00 BUrplus. &ovse ov iiririiai i iiisisanssnnnns 3,000,000.00 C UnGIvIGed "PrOBUS vous ocis. sass sdsssses 1,433,678.45
American
National Bank
at Indianapolis Statement of Condition, March 31, 1952
RESOURCES
Cash on hand and on deposit with Federal. Reserve Bank and other hanks........$ 33,865.682.97
United States government securities .... 57.783,787.61 Other bonds and securities ...... cranens 287412596 Stock in Federal Reserve Bank .....enes 150,000.00 ° Loans and discounts .......... speserass 33,198187.70 Bank buildings and equipment ...... ‘nes 678,548.39 Customer's liability account letters : OF SPRREL wos oviiiivnsiineeiissines “oun 211,049.89 Accrued interest receivable and other TESOUICRS ...cvveesses@usesrarersonsas 346,540.54
‘Reserves for ray interest,
ote ............. 05s 949,673.98 Lat a Etat atanding 11. areas 211,049.89 Interest collected but not earned ..,..... 232,169.33
Deposits seis sassiane vans dane yous naga 121,281,351.41 : ~ $129,107,923.06 : © Member of Federal Deposit Insurance Corparation
THUR street-swe for the st “the clear Saturd: 1952 Clea
last throu N. Emers
18 being
with the 1 ing to the The two of Sigma sweep Em York and at 2 p.m Home-b demonstra At 11 8 Chapter, ] Contracto up painti home. M: christen it Lawn Be: will be pi Army Ba Grotto ba Boy 8c the crows clowns w amused. The In Commerce
‘paign.
Guests
Dr. and pect dist week. Vis Church ps Washingt« and Mrs. Rev. Prue yer while in Englan Dr. Neh prime min
"Us 8a ap
and unive
Picture
Ways t« graphicall you look diana pro in Hotel L and Tues ing will b Indiana. Speaker Peggy Dx Axel Bahi and E. A. Schricker speaker M
Hearing
How mi lic hearing during N; May 4-10. the Indian ing Cente: The cer have chai Fletcher Shelton, 3 Mrs. Earl
Torpedc
Robert Maud Nas: Bt., has b the torped Navy res
Oak, Md.
Installa
The thi; in the U. §