Indianapolis Times, Indianapolis, Marion County, 13 July 1952 — Page 34

0 \

Sales Reported Total $443,050

Three Results Of Steel Strike

By J. A. Livingston

THE STEEL STRIKE is cutting three ways. First, it’s generating some scarce buying of automobiles and appliances. People are mildly concerned about renewed shortages of hard goods. Second, it's causing a shortage of payroll money in metal-working and steel centers. Retail sales| are slowly beginning to refiect layoffs. Finally, it's postponing the possibility of a business reces-

{Associated North Side Realtors {announced Chairman Boyd. They totaled $443,050.

listed the sales as follows:

Margaret Evans Co. Evanston Ave. 6060 Oxford St. 5013 Evanston Ave. Mr. Livingston's next column will appear In The Sunday Times Aug. 10. Meanwhile, he'll be vacationing.

and Medford Ave.

vania and 70th Sts. FG

ering that certain areas aiready in winter. feel the “steel recession.” This steel recession, however, is built on a vacuum. Automobiles this: 1052 is a shoo-in. Con- Park Ave. 5021 Indianola Ave. appliance, and defense plants are o,merg feel freer about spending. |

running out of steel. And, 8s/gyerhanging stocks of autos, re-| Ave. 849 Berkley Rd., 6059 Garvthe National City Bank of New| ¢rigerators, and textiles York says in its monthly letter, , on worked off.

No iron ore, no pig 1410-12 N. Emerson Ave. iron. No pig, no steel. |

Gerdenich Co.—Lot at 16 St. Fay Cash--Lot at Pennsyl-

> id-| Tucker Co.~-1211 Bellsion, an ironical thought, consid-| 4... ¢ 7akes, which freeze over vied Pl, 3501 N. Gladstone Ave. '

Walt Veon Co.—4849 Hillside)

have er Rd., co-operating broker Bruce wealthy woman Defense pro- Savage Co.; 6145 Tuxedo St., co- kept a mor®h-long vigil by the

By United Press CHICAGO, July 12 (UP) —

Grain futures markets made only slight changes in the week ending

Twenty-nine residential sales ; th the traders’ were reported this week by the HIg12 ith nich of the hal

{Interest being absorbed in the Re-

{Thursday and Friday.

{by mills against large flour sales

— 4908/gave some strength to July fu-

tures and similar action is expected by soft wheat millers, according to some observers. July wheat closed around %-% cent a bushel higher than the previous week. Corn and oat markets acted

| Butterworth & Co.—3160 rorest Police Hold Recluse The new theory about business Manor, 5020 Greenfield Ave, 3852 After Death Watch

PITTSBURGH, July 12 (UP) | —Police today held a 75-year-old recluse, who

“When the mills get back to WOrk|g,ction is still rising. Depart- operating broker Ethel Bromert; side of her dead sister in a trashthey will be under pressure to re-' .n¢ gtore sales are running 2215 Durham Dr., co-operatingilittered apartment, in hopes of

store stocks as well as meet cur-| hand of a year ago. rent needs.” The rush will be on to fill the A Looser vacuum. That will be the end of! the steel recession. =:

Inflation Talk Again

Paradoxically, the strike, itself, has now turned talk around ) broker Gregory & Appel, I : te-| ppel, Inc. to inflation again, If steel pro-| UPB up. Thats Why the Sena ot a oral, Ine sai duction had gone on uninterrupt-| the last minute. iN. DeQuincy St,

edly these questions” would be arising: Will the construction of| None the less, the economy has, . .. 7... Cc Carr, Inc.

{broker Fieber & Reilly Co. -

Economy Koehne St.

And the steel strike's creating

/the recent deflationary trend has|ille¢ Ave, 5833 Norwaldo Ave,

F. M. Knight Realty Co.—2025

American Estates Co. — 4760

| Washington Blvd, 6147-49 Broad-| la vacuum, an anxiety to get| ’ ington standing watch over the pack to work. The theory is that Way, 435 E. 40th St. 635 N. Bev- body of Mrs. Nellie Allen last

finding relatives. Officers called by neighbors in the apartment building where the sisters lived, found Frances Hunt-

night. The coroner's office re-

been arrested. Prices are apt to 3222 N. Meridian St., co-operating ported Mrs. Allen had been dead

[Yor about 30 days.

In the junk-filled apartment, |ceipts were a third larger than in| {Manor Ct., 3344 Manor Ct., 3723 where the sisters had lived as/the past short holiday week, but co-operating hermits for 25 years, police found somewhat smaller than the same

As Traders Watch GOP

’

in sympathy with wheat and seemed to be awaiting develop-| ments of the nearby harvest. The July contract of Soybeans {with .about 9,508,000 open interests are expected to reach ceiling iprices again before liquidation of,

Guy ¥. publican National Convention July position is completed, accord-!

{Ing to most traders.

Secretary Wayne Whiffing The purchase of wheat futures, ‘ednesday was a typical day|

{in the week's activity. Wheat| lalone showed gains and was firm in_independent action. | The anticipation that a large] volume of wheat would be placed, under government loan at current | discounts under the price support’ acted as a price support and proved prophetic when the government took this action. However, reports of glowing crop prospects from heavy producing areas brought fairly gen-

futures. Generally interest in oats and rye was light all week with light! selling meeting more or less in-| different demand. :

Two-Way Trend On Cattle Market

By United Press CHICAGO, July 12—Cattle re-

eral selling into the deferred corn fi.

(517-9 E. 31st St., 109th St. and

Process Instrumentation | Chicken Campaign

| PHILADELPHIA—Half of the] NEW YORK—A&P Food Stores nation’s more than 250,000 manu-|{sold more chickens during a twoe facturing firms today utilize some| week period in May than in any form of process instrumentation, other comparable period in its reports Minneapolis - Honeywell's history. The food chain stressed fndustrial division. This instru-|poultry in its newspaper advermentation ranges in cost from &|tisements in response to an ape simple $70 pyrometer to complex, peal from poultry industry leaders

elaborate systems including hel ove a big supply of ting upwards of| to help m graphic panels costing up broilers and fy ers.

$150,000. G-A-R-A-G=-E-S PAYMENT and HOME MODERNIZING E-Z TERMS CUSTOM

Ee BUILT

For Martin Co.

Ed Martin Co., Realtors, announced their six month's sale volume to include 29 sales worth a total of $429,350. Another 10 sales worth $131,180 are pending, Mr. Martin said. Mr. Martin § also announced a new member of his staff, Mrs. Merie W. Sherry. A native of Newcastle, Mrs. | Sherry cam e| here in 1938 and was a cost accountant with the Hatfield) Electric Co. seven years. She is a graduate of the Lain School of Real Estate and holds a broker's license, ‘‘She.is also a member of the National Associa-

Mrs. Sherry

on of Cost Accountants. Finished Downspouts The Martin Co. sales to date| ne © Insulated i © Porch include: 1929 N. LaSalle St., 5521 he > Siding, Roofing ox Enclosures Guilford Ave. 3955 Hoyt Ave, 850 N. Oakland Ave. 3713 Hill- ; : fio malt] SPIVEY BROS. ROOFING CO. cross sale with A.- H. M. Graves; R 2017 Rex Drive, 502-4 East Drive.|| ISLRIATES bi Madison at Troy Ave.

BUILD YOUR OWN 2-BEDROOM $3213

Woodruff Place; 5309 E. 8th St, |& 2309 Station St., 6218 Kingsley Drive, 6450-2 College Ave., 3701 N. Whittier Place, 6512 E. Washington St. Also 2301 E. Kessler Blvd, a cross sale with Gil Carter Co.; 3822 Ruckle St., 5730 Guilford] Ave. cross sale with Fred Tucker Realty; 3537-9 N. Olney St.

Lumber, Hardware, Roofing, Flooring, Paint, Rook Lath, Plaster. Doors, Windows, Cabinets

Cornell Ave, 4019 Carrollton

SUNDAY, JULY 13, 1952

w plants drop off sharply alongi{loosened up. oi 0 tone and tober? | harder to find. That's indicated

Will the markets for automobiles and other hard goods be saturated? Will defense deliveries taper off in the fall or early next year? $y Now, all such questions, such doubts, have been put off indefinitely. Saturation has been set back. Even the construction of steel mills is being delayed. Bo

the new capacity to satisfy de- versed:

mands later this fall will not have been created. . The strike is pushing the peak in defense outlays well into next ‘vear. That can have inflationary, then deflationary, consequences. As shortages: accumulate, prices will firm up. But once the steel mills got into production, once pipelines were filled, prices presumably would soften again.

The New Outlook

What's more, over-ordering would occur. Whenever businessmen are gasping for inventories, they place business with two, three, or four firms to obtain the speediest delivery. What usually happens then is that the first delivery is followed by another and another. © The understocked businessman becomes overstocked. Then, cancellations. We could well be building up to such a se-

Jobs are getting

{by a survey by B. K. Davis & Bro., Philadelphia, which specializes in data on newspaper helpwanted ads. In January, newspapers in 61 cities reported gains in help-wanted ads over a year ago while papers in 41 cities reported losses. In April, even before the steel strike, the proportions were re41 cities reported ga'ns, 62 losses. And in May, only 33 papers showed gains as against 67 losses. This is not an unqualified indicator of demand for workers. In some cities, like" Hartford, demand for labor is as heavy as ever, but the newspapers have cut down the volume of helpwanted ads by refusing ads from out-of-town firms. In most cases, a decline in space indicates a decline in demand. This has basic significance. If recruitments to the labor force fall off, if demand for labor subsides, so will insertions of new payroll money into the economy. Such insertions have been a dominant force in the post-war expansion of purchasing power.

Keeping Up

NEW YORK--Careful and in-

quence—say three to six months after steel production is resumed. |

«Meanwhile, the administration ®

tensive reading of newspapers is must for businessmen who

Norman L. Hammer — 134) Roache St., 4105 Clarendon Rd.

a bank book listing deposits of | period a year ago. ($40000 in Miss Huntington's) Fed steers predominated and name,

receipts included liberal supplies

Slight Rally in

By United Press

rally greeted the nomination of Gen. Dwight D. Eisenhower for the presidency on the Republican [ticket during the past week on {the stock market.

The rally came late in the Friday session and some of the market men said it wasn’t representative because of the impending week end.

It had been known right along that Gen. Eisenhower was favored in the Wall Street list of candidate:. Many looked for a bigger market demonstration, but gave as an excuse for its light volume the uncértainty over the steel situation. Iron Age said the nation’s industry was steadily being strangled by lack of steel. The National Production Administration warned that two-thirds of perishable vegetables and fruit would be lost because of lack of steel for cans. |

The industry was feeling the

lke's Nomination Stirs

NEW YORK, July 12—A feeble|

of choice to low prime 1200-1450 pound weights.

A two-way price trend eventually developed. Steers over 1150 pounds closed 50c to mostly $1

lower than late last week with weights over 1250 pounds showing the full decline. Steers 1150 pounds down and yearlings were steady to fully 50¢ higher. Some yearlings under 900 pounds were up as much as $1 and heifers were strong to fully 50c higher. Hog receipts were the largest since the first week in June but shipping demand was broad. Order buyers took roughly one-third of receipts most light butchers and some Sows. Barrows and gilts under 220 Ibs. steady to strong and over 220 pounds steady to mostly 25¢ lower, Sows steady to 25c¢ lower with most of the decline on weight over 350 pounds. | Choice and prime native spring slaughter lambs topped at $30 to all interests highest in more than three weeks with the bulk of the good to choice at $27.50-29.00, late cull and utility sorts ranged down to $22 and below; choice and prime 92-pound crop lambs topped -at $25.25, with $24.50 the practical top on choice grade.

Stocks

gains on the week. Motors lost (fractions. A few of the rails lost a point or more, including Kansas City Southern, Santa Fe and Southern Pacific while the others of the average group moved in a fractional area.

Individual issues in the oils performed on both sides of the

market. Kern County Land was a favorite in several sessions. {Deep Rock was a strong spot. Amerada lost several points.

American Cyanamid lost ground in an otherwise narrow moving chemical group. McGraw Electric, Caterpillar Tractor, Associates Investors, and McGraw Electric were among the better performers on the upside. American Viscose stood out as a strong spot in the textiles.

Father and Son, 12, Found Shot to Death

effects of the steel strike, and while the market community tried!

FREEBURG, Ill, July 12 (UP) —The bodies of 44-year-old El-

to hold to its adage of never sell- mer Mueth and his son, Donald,

would do well to heed the warn. | Want to keep their companies in

tep with progressive ideas and ing of Charles M. White, presi-® : dent of Republic Steel, that if9¢velopments, American Can

the strike in the Mesabi tron Company sales executives were

mines isn’t ended soon, a settle-| 10 at the company’s recent

ment of the steel strike may not ie best means of keeping up generate much steel. Ore's not coming down the With the changing business ph g scene, as well as a valuable aid Lo aquiring a liberal education, according to G. J. Madge, | comptroller.

sales seminar. Newspapers are

ing on strike news, the accumu-|12, were found in their home last lation of bad news proved more! night by neighbors alarmed by than it could take. the prolonged absence of the pair.

Steel Losses Lightest Both had been shot to death,

Steel shares behaved best of and the father on the floor with the major sections of the Indus 3 22-caliber rifle at his side. St. trial list. They lost the least |

the boy sprawled across a bed

Clair County authorities said is!

wes prices were declining and|was a case of murder and suicide. |

made the best recoveries on Fri-

(day. The leaders netted small |

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