Indianapolis Times, Indianapolis, Marion County, 4 May 1952 — Page 32

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Of Week

FSvsnen Outlook Farmers Fear “Price Declines

= By J. A.

titude toward inflation, Yes, the postwar inflation has price spurts part of the But farm costs have crept the time. That's farmers now and politicians in No-

have had their boom, Sotton, Hogs, steers, ther ucts the

Ld it i

and most o tarmer sells are below thelr peaks. The for farm ucts has subsided. European are uecing at prewar levels or better, A Last Fling Therefore, American farmers

Are beginning to fear prices are in a downtrend. Here is what has happened, in primary markets, to five important commedities, Note t all but steers——gée, aren't we ing to be best eaters?--are

well below postwar highs: Pastuar Post-Korean Recent Bet

HT Price s i i 1 thu.) 4 AT 1b.

: 5.3 oday the Prices fafmers res ceive are down about 6 per cent from a year ago. On the other “hand, taxes, labor costs, and the prices of what the farmer buys are up 8 per cent. The farm parity ratio is back to 100. That is, farm costs and farm prices are in the same relation to one another

as in 1910-14. The recent freight rate increase is. a headache. It adds to the

price of machinery, baling wire, fertilizer, prepared feeds, fencing «anything he buys. That means JAncressed production outlays. At the same time, it adds to the colt of moving steers, hogs, grain, cotton to market. The farmer will have to absorb this cost, since demand ia not expanding. A rise In: steel prices or wages would mean mors of the same,

Farming Is a Business “The farmer is squeesed like “ny business man whose market “Is not expanding while costs are ,licreasing. Farming today is a ~business rather than a way of life, «A pastoral mode. The farm pop: ulation is declining, but the In. . farmer is working more bn ne consequence of mechJ Mhization. And, as a corollary, farm outSipaciat EXpenses are As rigidimags, Rou ts M Ww it's the ma. ohinery,

. DENVER, EN ROUTE TO ) An Easterner, going West into the grain and livestock areas of the country, quickly discovers a new—a reluctant-—at-

Livingston FRANCISCO, May 8—

In the forepart of the century, a horse. pulled the plow and the hired man milked the cow. The horse was fed on farm-grown hay, the hired man on products raised on the farm. But, increasingly, farms are being modernized. A tractor pulls the plow, a glant combine harvests the grain, a machine milks the cow. The fuel and the replacement parts for this equipment are cash items, And labor costs are up. } The increasing investment in machinery becomes. a drivin force. The farmer tills his best acreage intensively. Fertilizer input has more than doubléd since '20, and this year will reach an all-time peak, volume and dollarwise. About one out of every six dollars a farmer takes in ou for machinery and fertilizer. Back in 1919, it was only one dollar n 10,

‘Arnall Now Hds a Case | Farm inconte from marketings 80 far this year is about 5 per cent higher than last. But for the year as a whole, farmers will be lucky if they gross as much as in 1951. Prices are not apt to average out

{Nail Obsolete

| of Roger Pop rooms a

New Gluing Iron Makes

By PHIL 8. HANNA

CHICAGO (CDN)-—'S80 you are going to build a houss with abou a pound of nails,” I said to John R, Guenther of Chicago. He has invented an slectronia) binding iron for gluing wood to (wood, plastic to wood and other materials to other materials, “Yes, and we will save a lot of time in building, too, for you éan glue materials together «- faster than you can nail them together,

| PLEASANT RUN—Realtor Norman L. Hammer sold this home at 6777 Springer Ave. for

as high as last year. But costs will be up and, therefore, net will

NAT That I wanted to see. Bo he

took me into a room where a man The postwar turning point for 5 y the farmer was 1947, Net operat. VAs binding & plastic sink to a ing income reached an all-time(W0Oden frames. A kitchen sink high of $17 billion. The next year,/made out of plastic was some

Late Rally

By United Press in the first ; f uarter. That re.| Here is another instance of a NEW YORK, May 5 sskaipant parked e Friday rally in/young man, only 33, sticking to

ya tion reports continued ‘to show the effects of high costs snd taxes. U. 8. Steel, du Pont and General Motors showed low Ar earnings than a year ago. ".. Chrysler Income Up ‘There were a few outstanding Xceptions, notably C ler Corp. th managed to whittle down pats and report a higher income

| ONE LE

Repairs Most s Stocks Losses

Three Large Bedrooms Door Storage Wall Close

gross receipts rose slightly butithing new. expenses were up more. And last! The man switbbed ue on year, even though gross receiptsiths wood, applied 8 he Siue on reached an all-time high—® perigun—much as a woman uses an cent above 1947--net was down electric fron to iron a shirt—and, 18 per cent. Here's the story in|presto, the job was done, millions of dollars (000,000 omit. The intense heat developed by ted): the gun does something to the adits, PIRI, Net Opts molecules in the glue that makes ’ $1.2 sin.oma/it stick so tight that when you . 58 138 try to remove the wood from the : y 4 ih plastie, the wood disintegrates Ore on _ rior hed The gun accomplishes by heat y nin minufes what takes hours in a chael V. DiBalle tried to sell gluing Press. And the gun's flextari 3 in how og ibility enables one to bind irregio Pp lem. ht aan ATM jar articles that couldn't be ices ute 1 Sing aster thanipnoung phy présses—astrips around Pe ; ic \ sts, ghriarS listened curved objects, for example. went about thelr business, | Then I saw plywood 4-inch Now that farm prices no longer thick bonded to a wall, are rising and costs are, Eils| Tne new Prudential office will Arnall can make out a more per-\nave its offices done in this plysuasive case. In short, the farm-|wood, bonded with glue, Activated er no longer is on the inflationhy Guenther's. electronic “guns.” bandwagon. His prosperity is be-| 1 also saw the device bind new Ing squeezed. tops on old school desks. They looked like new. Guenther calls his firm Reeve Electronics, Inc.-~Reeve from his middle name. His shop is devoted entirely to production of indus-

«dielectric and induction units,

something he believes in and sueceeding in spite of difficulties. Guenther worked on the Manhattan project during the war, bullding electronic equipment, He opened his own firm in 1948. In addition to thd electronic “gun” he mdkes heat-treating equipment for motor plants; a plastic pre-heater melts plastic pulp 80 it can be shaped; then 4 dielectric heater for bonding materials—as in plastic raincoats —that can't be sewed.

Rallroad reports were consist ently better than those of industrial corporations. Atlantic Coast Line had a good earnings gain. Baltimore & Ohio reported larger net income for March and the first quarter than in any similar period since 1043. : Discoveries of new oil walls helped individual stocks, but not with the sip these news items AC Oil of California, Phillips Petro. leum, and Cities Service. Tire stocks were down, especially in the session. They did not recover all their losses. Earnings

Harold Hartley reports business news in truly readable atyle daily n The Times.

fcc

4706 East 16th Street

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160 Oathole School 3 Block

“as

And they will stay bound longer.”

trial electroni¢ heating equipment

ors of this two-bed

BROAD RIPPLE~-Mr, and Mrs. Benjamin Yount are new owme room home at 5687

By ROBERT F. LOFTUS United Press Staff Correspondent WASHINGTON, May '8-~The steel crisis threatened to block a big upsurge in home building today, just as Congress showed signs of loosening up the tight mortgage market with federal cash, With the Senaté Banking Com- | mittee set to begin public hearings Monday on a bill providing |more than $4 billion in govern. ment funds and guarantees for néw homes, builders were hopeful that their financing worries were over for the next year or so, Two weeks ago, that news would have set the builders daneing in their developments, At one time, their main concern was over the shortage of capital for {investment in home mortgages. Now they are frankly afraid that they may wind up with

Go vio wk a i

buildto Ralgh B. Spurgeon, an executive of the Zenite Metal Co. The rancho features two a paneled den,

1 Steel Crisis Heads Off Housing Boom Optimism

ance firms practically ignored

the program. Most of the money is still waiting for takers. Sen. Maybank’s bill also would add $100 million to the presént $00 million authorization for community facilities in defense areas. There were strong indications an attempt might be made in the committee to write in an amend. ment relaxing credit restrictions on home purchases.

Alan Brockbank, president of

the National Association of Home

SUNDAY, MAY 4, 1952

All Grain Prices Down for Week

By United Press : CHICAGO, May 3—A gener weakness continued to dominate the grain markets on the Board of Trade this week. There “were occasional shows of strength, but such displays were of brief duration and for the most part suce cumbed to liquidation, There was, rather heavy liquidation again this week in the May contracts and in most grains this month showed the greatest loss.

Ipienty of available credit and no steel for construction. Most builders have big inven. tories of steel and other mater-| fais right now, but that backlog would disappear quickly in the event of a prolonged strike, Steel Crisis A Bitter Pill The ' steel blowup came as a particularly bitter blow to the builders who, at the moment, are loperating at a clip that would {produce at least a million new Dy starts this year-glose to their 1080 record. | ‘The crisis also threatened to plunge the Benate into a long debate over extension of the Detense Production Act, This could the present timetable for ‘new housing legislation. The banking committee, headed by Ben. Burnett R. Maybank

completes hearings in about oy in time to get the housing

Ave, It was sold, [5.00

Hogs Highest Cattle, Sheep

By United Press CHICAGO, May 3—-~Hog prices worked sharply higher and by the close of the week most barrows and gilts were selling $1.25 to $1.50 higher. However, as a result of liberal receipts both the cattle and sheep markets de¢lined. : 3 The closing top on hogs was $1.75 higher at $10.25, the highest since the day after Christmas last year. Extremely broad shipper demand was primarily responsible for the ‘godd action locallly ‘throughout the period: On the close the bulk of the ¢hoice 180-230-pound barrows and gilts sold at $18.75-19 with a load or so feacning $19.25°to shippers. Most choice 240-260-pound butchers closed at $18.25-18.78 with 200-280-pound weights at $1818.40. Cholce sows, 400 pounds and less, finished at $1618.75 with a few lighter weights to $17 and above. Liberal receipts locally and at leading markets led to generally sharp declines in the sheep mar ket as the tail-end of the winter fed season approached. Both slaughter and shearing lambs declined 50 cents to $1, mostly $1. Compared to Friday last week, early top on fed wooled lambs was $29, but the closing top was $28.50. Early top on shorn lambs $28.50 with closing bulk clippers $20-27.50. Closing bulk good to prime wooled lambs $27-28.50. Fed Steers Predominate Fed steers continued to prefominate > long odds this week, majori low good to low prime. Radin dow, steers were under more or leas downward price pressure from start to

recently by Butterworth & Co, realtors, for Gayle W. Barlow. Ben. Maybagk . duced the bill ‘which would authorise the Federal National

Association to buy up

in 4 Months; Prices Slip no worse than steady to 50 cents

lower with weights under 1100 pounds showing least change. Heifers also showed little change, only scattered sales showing declines of 25 to 50 cents. Compared to Friday a week ago, fully a dozen loads prime 1150-1514-pound fed steers sold at $37.50-38.25 including western fed steers at $37.00-88.25. Most mixed choice and prime fed steers $35.25-37.35. Choice and prime fed heifers $32.50-36.25 with choice Colorados reaching $35.50. Most utility and commercial bulls late $24.50-27.50, odd head early $28.50.

“Saved $151.97 On Fuel In Year”

Says Raymond C. Briggs*

“We heated our 7-room home for $140.12 a year after replacing our old boiler 4 new G-E Oil Boiler, We saved over 50% on fuel and ne pay extra for hot water!”®

Mortgage another $1.3 billion in mortgages on defense, military and disaster area housing, plus $352 million authorized by earlier laws. In addition, the Maybank Bill wotlld inerease the Federal Housing Administration's authority to insure home mortgages by 81 pilllon and would give FH

authorigations originally earmarked for other programs including prefabricated housing and the so-called Equity Insurance Programs sponsored by Sen. Joseph R. McCarthy (R. Wis). Insurance Firms Uninterested The McCarthy Plan aa intend. ed to encourage the big insurance companies to get directly into home construction by guarantee. ing them a net yield of 234 per cent on any money they invested in that manner. But the insur-

YOU, TOO, CAN SAVE MONEY!

finish, the market was actually }

@ OIL HEATING

ret Furnace with the fs

5 nous Boiler. It actually i | : for iteelf tn fuel savings! Here's why: n q bos all the oill 52 “Ture Back Flame” mot heat out

Combort you dream shoul *Addrest on request

GENERALE ELECTRIC

(D. 8. C.), originally planned to), ==

Builders, predicted a reduction in| Compared to Friday & week the down payment required on ago, wheat closed 24 to 2% cents new homes would start a rush of| 5 "'hushel lower; corn 2% to 434 building in the low-price fleld wer: oats % to 2 lower; rye where need Is greatest. 1% to 6 lower; soybeans ¥ higher Washington observers believed; ' x ower: lard unchanged to 20 the big housing Authorizations .,inis a hundred pound lower, proposed in the Maybank Bill} might be slashed considerably) before Congress finishes. But they believed the lawmakers might relax the down-payment rules if the steel crisis is settled.

Husband, Wife Open New Office

More Service Is Savings Men's Meeting Topic

: Times Special WASHINGTON, May 3--With savings at a record rate and home financing volume keeping abreast of 1951 fi 8, managing officers and directors of the Na. tional Savings and Loan League convene at the Mayflower Hotel here May 11-16, 10 discuss new ys to serve the public.

Two management clinics and four management dinner-discus-sions will © emphasize enlarged pervices, as well as ways to reduce operating costs. Another clinic will consider the impact of the néw federal income tax upon thrift Institutions, and the ways in which it may affect serve

Mr. Brooks Mr. and Mrs.

Mrs. Brooks

D. Le6 Brooks

bill to the Senate Floor by early oo

himself intro- Bast Sides.

For the past 25 years the cou ple has been in business management and operates the Brooks bakery. Both are licensed real

LOVE | F===== Ril rz soto mm my ‘ 4 General Hloctric Company, Air Conditioning Division LLIN i" IR-1980 I" : details on R booked wih NAME. «con nine sss entsne son son nsocvnmnss: ! Heating can save me ; u erie. ROTO- 1 : hog! a ADDRESS. ROS093 24vE LSI ERE BIA LAE UAS ; 1 Make free survey showing APE. NO. (IF ANY): .coniesosiiiuibsssneess | ; ft J Bich OL son sen ms m1 07. L wont winter, CW. ouveiivvnnenass JONE. , STAN... | : Bschool

THE ONLY

1110 K 52nd ST. - |

Central Ave.

rental units on the

estate brokers.

week announced the openihg of their real estate office at 1535 They will apecialize al properties and North and

ices being provided to the public,

The outlook for all phages of home building will be discussed by Alan B. Brockbank, Salt Lake |City, president of the National Association of Home Builders; Housing and Home Finance Administrator Raymond M. Foley, and T. B. King, director of the |GI Loan Program at the Vete

Mr. Brooks is & member of the erans Administration in Wash. Millersville Masonic Lodge and ington.

the Murat Shrine. His wife belongs to the Eastern Star, Daughters of the Nile and the Ladies an Oriental Shrine of North Amer-

additional $1.8 billion of unused |’:

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