Indianapolis Times, Indianapolis, Marion County, 20 April 1952 — Page 44

Business Outlook—

A Defense Plateau

a

‘By J. A

For 15 months—from January, 1951, through March, 1952, inclusive—industrial production has moved sideways.

That's a long stretch, but

Indeed, there's a recent parallel.

through November, 1048, industrial production remained on a plateau for 23 months.

Then, in December, 1948, ot Thus, the business plateau—the|

post-war readjustment or recesslon set in. Is that a prophetic

parallel? Akin to 'Twentiés

The present plateau is much higher, The Federal Reserve | Board index has ranged from 217| to 223, excluding the vacation] month of July. In '47-48, the| range was 182 to 195. And the range this time is narrower, 3 per cent fromtop to bottom versus 7 per cent then, Yet, within this narrower range there are decided contrasts, During 1947 and 1948, business as a whole was pretty much of a plece. Soft goods sales were edging downward, Shoe and apparel manufacturers were having their troubles. And appliance manu-| tacturers and dealers had theirs toward the end of "48, | To be sure, automobiles were still selling well, but for the first {ime non-Big-Three cars had to be “sold.” Housing too was strong. Aside from automobiles and hous Ing, both durable and nondurable goods were leveling off. Hard and soft goods were in step with one another. This was an era of full employment. As one activity slackened, another took up the slack.

Contrast Within

This time there's a contrast within a contrast. First, durable goods production 1s still rising, while nondurable goods output ia of 8 per cent from its post-Korean

| “worst enemy.”

Livingston

by no means unprecedented. From January, 1047,

[municipal and state bonds which

add to inflationary pressures, {such as soldiers’ bonus bonds.

so-called lull--is being shored up.|

The chief characteristic of the present period is full employment. | And the administration natur-| ally wants to keep it "full"

But full employment is its own It implies that payrolls cannot readily be increased. You don't get large num-| bers of new recruits to the labor force. You don't get constant insertions of new money—additional payrolls -- into the economy. That's what makes for economic plateaus. They're reallp temporary ceilings. In the 'twenties, we burst out of such a plateau on the upside.

Ave. for builder Walter James. for the Federal Land Bank.

y United Press . NEW YORK, Apr. 10—8tocks ran into a triple snag this week after starting with two highly favorable news items, The week opened on a rally that reflected such favorable news as a freight rate increase and a lifting of the freeze on new television stations. But prices turned down soon

{after the opening on Monday on

unfavorable interpretations placed on the steel industry seiz-

From November, 1925, through June, 1928, the production index

for 32 months, | Then came the boom before the bust in 1920." During that period, business was sustained” by large capital expenditures and by mass purchasing. by consumers. The automobile was the big “Item,” | as installment selling came of age. Also, the stock market was rising on credit; At present, théré Is no stock market boom; there is no great expansion of credit. A similiar financial deflation seems unlikely. However, no obvious increase in consumer purchasing power impends eitheér—unless some time

in-1953 or 1954 Congress reduces taxes, That could be the next big economic boon to keep “prosperity” rolling along and, conversely, to fend. off a deflation.

All Grains Slip During Week

CHICAGO, Apr. 19 (UP)—The grain markets on the Board of Hie J rade spent most of te time dehings. ining this week in the pattern Indeed, some full-f read-|set by wheat and soybeans. Jistments have an y akan A number of factors contributed Thus, produc to the reactionary movement. The 26 per cent from the Post-i;m, ret ran into rather persistent

peak. But durable goods production would be falling too, except for ong thing--national detense. Automobiles, refrigerators, washing machines, etc. are off significantly from their highs, So you get this contrast in durable goods. Defense is up, nondefense consumer durables-—down. Likewise, nondurable consumer goods industries have been in the doldrums—shoes and leather, textlles, men's clothing, home fur-

per { Thus, defense has been the na-|,,.sinilities in Korea, a lower sen's economic savior, Defense q,rities market, weak commodity

ts have taken up all slack In|naricets, and lack of export busiployment. And, by the same ,.., in U, 8. grains. ken, defense payrolls have commission houses generally

stained consumer demand forly 4 agen for sale and the Sep- , clothing, and other products.itomper contract was being pressed

ure by government, by talk of an ~ approaching Korean truce, nd by a long list of reduced

a held within a 5 per cent rangehu,.rinou for\the first quarter.

Trading increased by about a half million share average over last week. The decline carried the industrial average to within touching distance of the year's low where support developed. Rise on Friday On Friday the street took some courage from the government indiecation it would make a slight concession on steel prices. Of more importance as the financial district viewed steel was the willingness of the government operators of the steel plants to defer raising wages until next week. This brought a rise in steel shares Friday and helped a general rally. The recovery wasn't sufficient to do much more than eut the losses of earlier In the week by small amounts, leaving the market substantially lower on the week in all departments. At the close on Thursday, the

Mar, 26; the utility, since Mar. 1 and the general average, since Mar, 4. Heaviest losses were suffered by the stocks which had had the widest gains in previous weeks, notably the oils, metals, and some railroad {ssues,

peak; paper 13 per cent;jjouigation selling brought on by Demand tiles 23 per Sent; lumber 13 Pils combination the very favor-| Late Nr k, Some of the ; stone, clay glass prod-i apie new crop outlook, a more op-|ofls met . Texas Pa14 cent. timistic feeling regarding truce

cific Land Trust gained 11 points in the Friday sessions and thus made up nearly all of its losses set earlier in the week. Some oils managed to gain on the week. Raliroad issues were off 1 to 3 ints with a few making wider

fense is to the present period. times, The wet weather over at automobiles and housing fnois and the floods West and northwest of here stimulated a little buying but lost all their|

But the end of defense expan-iwpek: . don is around the corner, The| Compared to Friday a week ak will be reached early in 1953. ago, wheat ruled 4% to 5% cents en, what is today an upwardiy bushel lower; corn 1% to 3% il on business. will merely be &|jower; oats 1% to 2 lower; rye % staining influence. Indeed, as to 8 lower; soybeans 315 to 6% uctivity increases in defense|jower; lard 45 to 62 points a hunants, layoffs—decreases In pay-|gred pounds lower. . golls—will occur, What's more, ce peak production Is attained, efense schedules will be reduced, aggravating layoffs. ! The government is

Duluth Couple Found

preparing Stabbed to Death

A cy, The De- DULUTH, Minn. Apr. 19 (UP) orate Administration ~A Duluth couple was found just doubled third-quarter stabbed to death early today and eel allotments for schools, hos-police said the husband had ftals, highways and commercial stabbed his wife with a butcher nstruction. This is timed to off- [knife and then taken his own t declines in construction of life.

: con-| Detectives said that Willard tense piagts. The Safénde th Bennewtse killed his wife, Hazel,

uarter. with the butcher knife, then took

f , Regulation W, a¢-[bis own life during an argument Bk iment credit, hag|early today. Her body was found n relaxed on purchases up to in their home, his in a neighbor's

100. And no longer is a down Yard.

payment required on home reno- [me REA R 8] 4 Pp eo MiTEHENS ® GL APSLIANCES

vation. Furthermore, President f'ruman did away with voluntary ® YLoon ING : @ WALL MATERIALS

predit control restricting sales of 248 N.MERIDIAN HI.0998

Glass Jalousies

: \ ASS TEN LR A

Light Control Ventilation—Beouly-— pr wae || | With.a Low-Cost a porches, hressewars o }! REPAIRNAND wien . MODERNIZATION LOAN : heck Here alousies | | xmas | J Mdvonced | Poymer | Payments | Payments ES 1 S100] Sam Sales, Inc. low | $5 9 2 q 1 soo] wm] 2 : Se EXHIBIT m| aa 22 2s J 659 | NM the HOME SHOW - 4 nn — , 2500 | 219.30 | 14. | 79.85

N. Keystone at 52d ....BR-5484 uN Nora Branch .....ees..BR-6883 NATIONAL HW

Castleton Branch ......BR-0418 b REMEMBER Lien

‘HARDWARE |

market incentive later in the O

osses, Northern Pacific, one of

Lilly Paint pening Store

appointed “John R. Murphy as sales manager for the company, and the opening of a new retail store at 2044 N. Rural 8t. Lilly Paint is a heavy producer for the government, defense projects; large chains and Industries. 2 The opening of i the retail store is in keeping with the com-

Mr. Murphy

reach of neighborhoods. :

aB BURNET-BINFO

W. 30th

Rook Lath, Plaster, Doers,

NORTHEAST SUBURBAN—Realtor Wayne Whiffing sold

industrial average was at a new low since Feb. 27; the rail since

pany policy, an official said, of putting paint service more in

Lember, Hardware, Roofing, Pleering, Psing,

4 BUILD YOUR OWN 2-BEDROOM

New owner of the two-bedroom

Stocks Hit 3-Way Snag ‘Blass Sunshine’ After Favorable Start |

the railroad sensations of the year, fell sharply. Losses in the metals ranged to several points and extended to! the gold mining stocks which recently had been meeting speculative demand, Tire, building, milling, textile, and chemical issues provided some wide losses. American Can lost several points in the containers,

Hogs Climb As Cattle Hold Steady

By United Press

advanced sharply at the week end, leaving hogs 25-50c higher for the week while cattle and sheep were steady to lower. Reduced receipts around the market circuit due partly to flood conditions, coupled with a more active and sharply’ higher pork market, accounted for the upturn in live hog prices. The week's top at $17.50 paid late was the highest price paid here since midMarch. Bulk choice 190-230 pound butchers closed at $17.10-17.40 with $17.50 paid for sorted lightweights. Cholce 240-260 pound weights were $16.85-17.15 and reduced numbers 270-290 pounds averages were ©16.50-16.85. A few loads 300-340 pounds closed at $16-16.50 with a load 440 pounds butchers at $15.50, y Demand continued broad throughout the week for choice Late action on heavier lambs, averaging around 115 pounds and less and prices were generally well in line with late last week. Late action on heavier lambs y wag on the slow. side and these closed on a steady to weak basis. miamb Top Is $20.75 Compared to Friday last week, | bulk choice and prime fed wooled lambs sold at $28.50-29.50, includ-

this rancho home is Claude Mounsey, appraiser

CHICAGO, Apr, 19—Hog prices heat loss to a mere 5 per cent, {where conventional heating sys-

-& ©

Sr

ot 5811 Massachusetts

To Be Displayed At Home Show

“Glass sunshine,” one of the newest developments in home heating will be displayed at the Home Show today through Apr, 27. Radiant Glassheat Corp, of Indianapolis, distribute the new glass panel heating system. The panels are made of tempered glass, 20 times stronger than regular glass, and are sprayed with molten

aluminum grid. : Electrical through the grid produces the heat in the form of infared rays. A reflector behind the panel cuts

tems lose as much as 50 per cent. Temperature differences causes the air to_circulate through the vents at the top and bottom of the panel. No Soot Another attractive feature of the system is the thermostatic control which permits different

aluminum and meunisd. on ani:

current passing |

Modern methods of cutting costs and making the most of space in new homes will be featured in the Home Show booth of the Burnet-Binford Lumber Co. this year, Charles Wagner, vice president, said today. Very popular with new home buyers is the ready to install storage walls which will be displayed. Another space saver is the eyelevel window. arrangement for bedrooms which offers a maximum of usable wall space and affords greater privacy, Mr. Wagner said. These windows displayed at the firm booth are equipped with insulated glass, ending the need for storm windows,

Storage Walls Are Space Savers

No More Plaster

Dry-wall construction, eliminating use.of plaster, another new building trend will also be featured in’ the lumber company booth, Various materials in this cate-

gory will be displayed, including the popular redwood and knotty pine panels. Two new wood panel types will be introduced--cherry and Western cedar. Other items to be displayed by

temperatures in different rooms. Housewives will like it because there is absolutely no soot to combat. Men will like it because their is no maintenance problems. The idea is originally French and was used to heat the Maginot Line. However, it has been improved by five years of practical application and today is used to heat major league baseball parks at Chicago, New York and Philadelphia’ as well as Army and Navy installations. Use in homes is now growing fast,

your yard if

Air Conditioning To Be Standard

For Future Homes

Alr conditioning probably will soon be standard: equipment in almost every new home being built, according to a recent issue of Business Week. Complete home units may be-| come standard equipment for| new houses in the late 1950s be-

|cause they have been brought down from the millionaire’s level [to the average pocketbook.

Local Man

Heads Program

Russell - Williams Jr. of Gaseteria, Inc, has been named general chairman of sd i the program of the spring convention of the

ing several loads 116-117 pounds {Colorados at $29. The top of! {$29.75 was paid for two-load-! {string prime 105 pounds Colo-!| \rados. Most good and choice fed! {wooled lambs $27.50-28.50. Few {good natives early in week to!

$27.50, but most natives carried, t ihe di Lilly Paint Products, Inc., has OW 800d end and sales were $26 Sehus er of the

{down more generally. The offering of cattle at 12 main centers was measureably

partly due to this development, Chicago receipts were fully 25 per cent larger than last week. Consequently pricés opened on a

t (steady to 50 cents higher note but | |after Monday the trend was to«ward lower levels, with slaughter _ [steers declining mostly 50 cents

to $1.

dozen loads of Colorados included in this price spread. Most good and choice heifers $30-35.50. Utility and commercial $25-29, late top $28.50.

bulls

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curtailed by flood conditions, but|

Mixed choice and prime heifers has a membership of over 10,-/get a breath of air on a hot day. | were $36-37 with better than a 000.

Indiana Petrole~ | um Association in Ft. Wayne, Apr. 30-May 1, More than 500 . “84 marketers and suppliers will attend Francis J,

The problem is selling the publie on the idea that air conditioning isn't a luxury, the industry feels. Once that’s done, air con- - |ditioning, will boom—just as tele- : |vision did in the 1940's. General Electric Co. announced 300 new homes in Dallas are go-

BACKYARD POLICEMAN—You won't need a fraffic cop for ou have one of the Continental Steel Corp. fences you can see displayed at the Home Show today through Apr. 27. [remarkable uniformity in seleo-

quirements gone, far more freedom in the placement of windows—and even in

«

READY TO INSTALL—Storage walls complete with sliding doors,

Burnet-Binford . at the Home cabinets, bruce block floors and Show include a disappearing new type windows eliminating stairway, & window wall, kitchen |the storm sash.

Survey Shows

| ‘The most popular size insulated {picture window in 1951 was 48%

{of Thermopane sales, Libbeye Owens-Ford Glass Co. There are 47 standard sizes of ‘ 'Thermopane picture windows but , lone in every eight installed was | in one of the nine largest stand. ard sizes which range from 5 by 6 feet to 6 by 8 feet in dimensions, For four years the second most popular picture window size has been 3514 by 48% inches. “We make a special anaylsis of the sizes bought by customers so that we may advise distributors and dealers how to carry well-balanced stocks of the standard sizes to best meet the preferences of their customers,” said Mr, Ives. “Four years’ study has shown a

ition of sizes.” : Special sizes are also made to architects’ specifications but the

standard sizes facilitate delivery

and are less expensiye, sald Mr. the choice of kinds of windows. |Ives. p wy

ma" I

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A HOME MILLWORK OF DISTINCTION

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Livi nape lie 1 obit R. Moore, fact 18 this: The system, installed,

| costs $1200 in a house which al-| gf lndiandpoll a at any 13 ready has ducts for hot-air heat-|

| ing. The air-conditioned Dallas r r. Mr. Williams is vice '"8 beh . houses will sell for under $12,000. |

mpmo—————— As the air-conditioned home be-| { comes more common, you will see Broker Membership big changes in house design, Busi-| The National Institute of Real ness Week says. It will do away Estate Brokers, an affiliate of with the need for breezeways,| /the 47,000-member National As-|screened porches, even door and] {sociation of Real Estate Boards, |window screens, now required to

With the need for ventilation re-|

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Don't be misled by claims, "It can't be

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SEFORE YOU BUILD OR BUY!

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By DEA} The home “not so sma is beautifully ular for a | not-to-limited many good will not per: 80 a good st is suggested.

One “attrac gider is the

pletely separ of the house. and Pop's, w on in the ac There is e opening off t to get into tl snack, provi kids left any The garag room, too, a go from her ily room and tering the ot! There are with wardrok doors. The of ently located house and is in dressing t: Two natu built in one on the family on the activi ter room ha: along the fro the dining ar The kitche

: provides a sr

counter spac opens off th provides a outdoor eati summer loafi If a smal desired it co of the gara shown, provi storage and entrance col this wing w tended a few

Chimneys With Flue

Fireproofin

against the of destruct] chimneys ar sible for an more than § sands of de Clay flue most effectiv juries, the s: ing chimne) from the da proves the cl ing the in: chimney cle: faces of the gerous accu crease natu the dangers Clay flues the Nationa derwriters #2 tically ever) building coc

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