Indianapolis Times, Indianapolis, Marion County, 4 August 1952 — Page 7

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MONDAY, AUG. 4 1952

THE INDIANAPOLIS TIMES -

PAGE Y

Vegetables,

From Controls

By United Press WASHINGTON, Aug. 4— Food prices; already at an alltime high, may soon be driven to even dizzier peaks by the drought and liyestock disease epidemics now stalking the nation's farms, officials said today. A worried spokesman for the Office of Price Stabilization summed up the outlook in one sentence: “The food price situation certainly looks bad for housewives.” He pointed out that under the new controls law, all fruit and vegetable prices are entirely exempt from price ceilings, and the OPS has only limited power to check increases on other food items. Agriculture Department officials said the future supply of beef, milk, corn, potatoes, peanuts, peaches, vegetables, e€ucumbers, berry crops and many other foods Is jeopardized by the drought which has scorched crops from Maine to Mississippi.

Too Early to Say OUR GANG—From their own minds. .and hearts came the idea of raising money for the children of Patrolman John L. Sullivan.

They said it is still too early for, an accurate estimate of how much food will be lost. But it doesn't take an expert to see that the situation adds up to shorter supplies and higher prices. Equally alarming to official Washington is the epidemic of vesicular exanthema which ‘has, admission, sold pink lemonade broken out. in hog farms of 16 “and popcorn. js states. Chairman Harold D. Coo- — ley (D. N.C.) of the House Ag-

Children in the neighborhood of N. State Ave. and Marlowé Ave., knocked out a homer last week for the family of the late Patrolman John LI. Sullivan. Always out to help someone in trouble, 16 youngsters held a ball game, charged 2 cents

Bonds

B14 Asked 91 sales

riculture Committee said that | Local Stocks and “millions of consumers” will syf-}b—mm rr —Aug, 4 1952-— fer unless the disease is stamped, sTOCKS " : Tan American Loan 6 ha oul quickly, [American States Class A .... 14 is “The epidemic now endangers American States 43% prd.... 24% ’ . Ayshire Collferies com . 5 15% the nation's supply of pork and L. 8 Ayres £93 pid. ... 10% ’ i Belt RR _& Stk Yds com ,... 3b Va could very easily result in sub- R55 RB RT & Stk Yds pid .. = 82 6s gtantial increases in the price of Bobbs-Merrilk com a 13 ee 8-2 Tr va 9 . . “rs pork and pork products to con-|Bunner Fertilizer 5% pid +... 87 sumers,” he said. *Central 8ova com eo 34Ye

363

Cpamoel ol Commerce com .. a Circle eater com sees. Beef May Drop Citizens Ind Tel 5% pfd ...... 50% {Eommonveshn, Loan ¢% of .. o i i i on ar-Na-Var .........e.s An OPS official said fruit and Sr IN am 35, vegetable prices would normally Cummins Eng 4'2% pfd ...... 98'3 101% Eastern ind Tel 5% pid . 96

be dropping fast at this time of the year, as the bountiful summer harvest poured into the grocery stores. Instead, prices are going up, mainly as a result of short

Equitable Securities com Equitable Securities ofd Delta Electric com Family Finance com. ... Pamily Finance 5% pid . Hays Corp pid ... ree Hamilton Mfe Co com .. Herfl-Jones Class A pfd .

oes sess

| East Side Youn sters Stage Sullivan Benefit Fruit Exempt esc eal

Their business venture gained $18. : After all funds were accounted for, a formal business meeting was held where it was decided by unanimous vote that

the money would be turned over to The Times Sullivan Fund.

Last year the group raised

Business Notes—

Production

Is Many Weeks Away

: By DON TEVERBAUGH | DESPITE SETTLEMENT of the steel strike, we won't 8. be back to normal for many weeks, say the economists of

the Federal Reserve Board.

Reduced output because of a lack 13% to blanket the Midwest and the|————

loss of wages and business earnlings resulting from the strike will |

2% 24% about 45 per cent of the labor the Lincoln National Life Insur-

crops. Home T & T 5% otd.... 43 - tend to dampen consumer spendHe said: the drought may [ook Drug C0 G00, =: 31 ling for the months ahead. ; OCB e A i 50 of a : have the reverse effect of eaus {nd Asso Shs » Fe, It looks like * another steel ing a temporary drop in beef [hq Mich El 4%% DIG ....os 0 shortage late this winter beprices, if farmers are compelled ind Telephone 4.8 oid cess 46 . ; Se or : indplis Ath Club Realty Co.... 7 4°" cause the ore shipment stoppage to send their cattle to market Ind Power & Lt SOI wrvesves 3 tor two. months His simmer prematurely for lack of feed. |IDGDIs PW & Lt Pid on 2 i : ; es ; : Indianapolis § ) hewed into summer stockpiles But he warned that the nation indianapolis Water dl ptd «39% x 3 , $ . 2: i. ‘Ey tndianapolis o rees or . she sc would pay dearly for this Short- jefferson National Life com ... 11% 13 : Opes io shee 2liacation can lived feast ‘of having less beef, Kinsan § com. Cah 0 tossed ou e win ; and higher prices, next year. Lincoln Nat Life 3 Ne As 1 pointed out last week, Meanwhile, damages in the DE IE ras 347s 36% higher prices are on the way, drought-stricken South and New Maron He sun om 5.4 ova Federal Reserve economists reEngland continued to soar Natl Homes com i] 133% port. : Nat! Home “xan «A00 i toward the billion dollar mark. |N*Ind Pub Serv com a 3 The effect of the strike to date y i d Pub Serv 44 p . > . There-. were light scattered N Ind Pub Serv 4'a 1d 28 has heen only moderate, accordshowers yesterday in sections of *N Ind hb Serv 456 pid. 73 32 ing to sales figures from departJ y 3 un resess 2] 2 § 8 the parched areas of North and pub Serv of Ind 3% pfd ..... 8. 82 ment stores in the Midwest. But South Carolina, Arkansas, Ala- Pub Serv of Ind com o.%...... (4's 3% : : : : Ss? Riga 9” ‘Ross Gear & ‘lool com cor 48 181; Sales were hit hard in Gary where bama, Georgia. Kentucky, Mis- sc heiizer-Quuming 5'z pd|.. 17 2 sissippi and Missouri, but most % Ind G&E 48 pid eens. 10. isi, force was idled. Jprmens agreed it was too littie, Stokey-yan camp bid sesees } 4 and too late. ranner & Co 5'2% Dp . 9 ; . a lerre Haute Malleable 1% Promotions Announced

US Machine com Inited Telepnone 5% pfd ..... Onion THE ..c...:e-rreneeee 68 *Ex dividend

Allen & Steen bs American Loan 4'%s American Security American woan 4%s Bastian Morley 5s 61 Batesville Tele Co 4} Buhner Fertilizer 6s 58 Ch of Com Bldg 4's Columbia Club 3-58 62 Equitable Securities 58 {ndpis Paint & Color {(ndpls Public Loan 5s Indpls Railways 6s 67

Cool Down, Cat, lllegal Jazz Broadcast Hushed

LONG BEACH, Cal, Aug. 4 (UP)—The illegal boogie woogie that delighted jazz fans and late owls in Southern California was stilled today by the arrest of a 28-year-old radio parts employee. 4 Philip E. Peterson was arrested [nd Limestone 45.75 »...--- for violations of the Federal Com- {angserkamb, a vs al munications Act and his illegal paper Arts Co 5s 53 = ....... 9 radio station was closed down. joracue Device 58 20 1 Mr. Peterson's collection of more “Fx Dividend than 2000 “hot” records was con- Produce {iscated. i CD Agent R. J. Stratton of the Egxsi prices FOB Cincinnati Conair FCC, who led the raid, said Mr. biown mix 60-6ic: U.S medium white Peterson had built in a garage an i DTOWR BIN I “excellent and completely profes- Be oh 36-40¢ sional” radio station which any ° Market prices, xenerally _Anchanged: small broadcasting station would prfees “MPC WIT consume have been proud to own. He said Red 34-35¢ Mr. Peterson also had designed several new innovations.

BONDS

60 59 60 ..

60 5s 64... 64....

cases 91%

53-58" zc . - ie, PX grade 100

white crosses and

Chickens hens, heavy 19-22c¢: hens

white 34-35¢ light 14c: old roofters 14 Fryers steady to firm al advance prices, steady af unchanged priees

: A iC 90 scot 76c; preThe ingenious broadcaster ap- mE ers pie Sekar Sec. parently operated the station for . . his own pleasure only, said Mr. Local Truck ‘Grain Prices Stratton, adding that some of the Wheat, $197. “ ’ hite corn, records used were collector S| Yellow corn, $1.67. ' dts, 5c. items.” | oN ae $3.14.

"FIRST SALE—Mayor Clark purchased the first pair. of tickets for the Indianapolis Indians-Louisville benefit baseball game for muscular dystrophy patients from !2.year-old Terry Tryon, 3340 E. 20th St. The benefit will be played Aug. |6; with a portion of the proceeds tabbed for the research fund of the Muscular Dystrophy Association in New York,

| Ti

Mr. Sefton Mr. Bruner

Two promotions were announced today by Pitman-Moore Co., a division of Allied Laboratories Inc.

Harry Sefton, former assistant personnel director in charge of employee services and employ-

He is a member of the Indianapolis Personnel Association and has been with Pitman-Moore since 11950. Rollin Bruner, native of Greensburg, has been appointed office {manager for the firm, He formerily. headed the billing department and has been with Pitman-Moore since 1934,

Farmers Well Off

The Midwest farmer is loaded according to’ the Federal Reserve business charters, E

After a near record net income last year, farmers have made important additions to their stock of farm machinery motor vehicles, house furnishings and equipment, (deposits -and currency and the {number of livestock on farms.

! In addition, prices were at a higher level than in 1950 and as a result farm assets reached a rec'ord high value at the start of the year, Farm real estate is up 9 per cent to $94.6 billion; livestock and ‘machinery is up 12 per cent to $51.5 billion; financial assets are up 5 per cent to $22.9 billion and total assets are 9 per cent higher at $169 billion. . Farm debts also rose, however, but their equities nevertheless reached an all-time high of 515%

billion—about 90 per cent of the _

total value of farm assets. | It looks like a big harvest season for the Midwest, t

{ The wheat crop will be about | 40 per cent larger than last year. Corn (the big crop of the area) will be up almost 20 per cent over that of '51. Oat crops are. ex- | pected to top last year by abput 12 per cent. ; Reports compiled by the Federal Reserve show there will be fewer pigs and chickens next year, The hogs usually .take about 40 per cent of the feed grain supply and with a bumper crop coming (in.and fewer hogs to eat it, there \should be a big, carryover.

wee mec Eqbricators of Steel

| |

| Wiles, 9, of 203. N. Walcott 8t.; | Judy Huser, 11, and John Huser, 8, of 221 N. Walcott St.; Mike Griffin, 8, of 226 N. William Sandefur, 10, of - 305 Walcott St; Bill Vance, 8, and N. State Ave; Nancy Walford, Kenny Vance, 10, of 47 N. Wal- 7, and David Walford, 9, of 217 cott St.; Sharon England, 9, N. State Ave.; Karen Mona- |

st ¥ AS 3 A 3 a

$7.50 for The Times Clothe-A-Child Fund. Taking part for the Sullivan Fund were:

Judy England, 5, and George ghan, 9, Pat Monaghan, 7, England, 12, of 239 N. State and Duke Monaghan, 5, of 243 Ave. Befty Wiles, 5, and Joe N. State Ave.

Top Bid on Hogs | Reaches $23.85

| A top of $23.85 was bid on, choice 180-240-pound barrows and, gilts In trading today at the In-| {dianapolis Stockyards. | Heavier 240-275-pounders sold at $22.50-23.50. Those weighing 120-160 pounds had a price range of $17.50-19. Choice 300-425-pound sows sold at $18.75-19.75. | Choice yearling steers sold at| $33.25-33.50. Good and choice] grained on grass heifers sold at] $31.50. Cow sales were barely {steady. Bulk choice and prime vealers. sold at $26.50-28. :

Hogs 8500. fairly active: barrews and eiits about steady. bulk choice 180-240 pounds $2325-23.75. top. $23.85. 240-278 pounds $22.50-23.50: 275-300 pounds $21.5022.75: 120-160 pounds $17 50-19, few $19.50; sows about! steady, choice 300-425 pounds £18.75-19.75: near 300 pounds $20. heavier mostly $18-19, Cattle 2000; calves 300. fat cattle slow; good and choice light steérs fully steady. chojce yearling steers $3325-33.50: choice and prime club vearlings $34. choice prime

Normalcy

\ ' of steel will continue

Corporate Offerings

It looks like we’ll set another record ‘in sales of new corporate securities this year. We're on our way at a pace certain to top the $7.7 billion sold last year—the

post war top.

Stocks and bonds are being relied on more heavily as a source

light medium steers around $35. good and of corporate funds than at ANY choice grained on grass heifers $3180 time since the end of the war, uy early flex cows barely siendy. most : ids unevenly lower; ew utility cows according to Federal Reserve 16.18: canners and cutters $11-16; veali ere moderately active, steady to weak economists. ) early top 31 lower: bulk choice and prime One reason is there are more $26 50-28; some around $2850; commer. 76FR 3 a: cial and good $22.50-26.50 : Dips 2 the market. Another is Sheen 500. fat lambs fairly active. e er 8 W y "strong: several lots lightly sorted choice ig taxes which have eaten and prime $30: bulk choice and prime into profits. $29-20 50. good and choice $2550-28 80

culls down to $18: slaughter ewes scarce, undertone weak to lower

Thieves Filch Fittings From Fire Hydrants

MELBOURNE, Australia, Aug. 4 (CDN)--Keeping this city’s fire Growing Pains hydrants in working order in the | midst of a brass shortage has be- {| It costs more to grow these come a major headache to offi(days. just like it costs more to cials.

|do just about anything. | Thieves are keepi : ping them hopThat's the theme of Indiana ping by swiping brass couplings Béll's argument on the phone rate and mountings from the hydants hike they've asked. {and selling them for 55 cents a They explain it neatly in their pound to shady junk dealers,

bi-monthly publication “Telephone News.”

Ninth Nationally

The Lloyd S. Wright agency of

ance Co, rated ninth in the nation among all agencies of the company in policies sold during June.

U. S. Statement

WASHINGTON, Aug. 4 (UP)—Gavernment expenres and receipts for the current fiscal year through July 31, compared with a year ago

Never Wrong Yet

Vanderburgh County, down in the southern tip of the Hoosier

) Thix Year Last Year state, is a spot to keep vour eve Expenses.....$ 6.741.774.7017 § 4.738.543.1389 : y . . R 3.318% 987 570.17 on this fall. It's never been wrong pepent 331315008) © 1500710330 on a presidential election-—at Cash balance 7.925452.218 5.610.924.281 Public debt . 263,106,024,527 255.684.947.735

least not since the Civil War. 3

Gold reserve

21,758,971,090

23,350,109,211

Face 2-Way Squeeze

By FRED W. PERKINS | Even so, the settlements with 1 Seripps-Howard Staff Writer the fabricators may not be sim-

WASHINGTON, Aug. 4— ple. Some of them are expected

The new Wage Stabilization a esis! accepting alkithe terms i . . of the original settlement, whic | Board, to be sworn into office pars with United eh tomorrow, will find the way Steel Corp. and the, industry's charted for it to approve hun- five other biggest concerns. Some of these basic producers are also in the fabricating busi-

dreds ‘of labor contracts that will follow settlement of the long steel

ness, which means they are in strike, competition with their customThese are contracts between ers. This involves a problem of steel fabricators — firms that competition, because those big

make thousands of articles out Producers which alse fabricate of steel, from’ hairpins to loco- Use their own steel. Fabricators motives. More than 1500 -such declare that illustrates the concerns are under wage agree- double squeeze” applied to their ments with the CIO United Steel- production costs. Their raw maWOTrKers. : terials will cost at least $5.20 In past steel settlements, the ™MOre a ton, and their wage costs steel union has applied the agree- Will 80 up an average of 21 cents ments-made with the basic stee] an hour. producers to the fabricators. The Union Shop a Problem latter complained of being caught| Anpther problem that may in a "two-way squeeze’ —theyicause trouble is in the union shop have to pay more for their labor question. The big companies setand also for their steel. tled with the union for a “modified union shop.” which they say

preserves the principle of volunJust before the old wage hoard tary union Dy But

passed out this week—because some of. the fabricating . com-

Congress disapproved of ils rec- panies already have the straight ommmendations in the steel :

Recommends Pattern

it recommended’ to its successor that mil employe : ex b board that it give blanket ap- members npoye 0 ar unian proval to fabricating companies they are hired. Now. some that certify they always have fol- these co i s anies assert lowed the wage pattern of the Bp gh companies and want to do so ithis case.

The fabricating companies will be asked to file reports of this sidered certain. The union also nature, with the undérstanding is expected to fight any movethat if they hear nothing in 30 ment among the fabricators to days they can go ahead and settle depart from the wage. or .other with the union. economic terms of the settleAlthough the new board could ment with the hig companies make its. own rules, it is ex- Arthur Goldberg, general counsel pected to follow this recommen- for the union, gave notice in the dation under the policy that all early stages of the controversy matters pertaining to the steel that fabricators ‘should expect settlement were the responsibility the same’ money terms as the of the old board. |basic companies.

of

panies agreed.

€48€ union shop plan, which requires after they big should have the less rigid arIn rangement to which the big com-

Union opposition to this is con-

Reds’ Berlin

Plans Fizzle

By United Press

BERLIN, Aug. 4 -——- Highly-

{publicized Communist plans for a

mass invasion of Weat Rerlin yesterday fizzled out. But police fought a 10-minute skirmish with some 300 Red youths who iInffi-

{trated into the British sector and

tried to hold a demonstration A rally of “thousands” of Communists in the British zone's Jungfernheide Park did not a terinlize as West Berlin's entire 12,000-man police force stond on guard and picked Allied. troops were alerted. The youths smaller-scale

to on a

tried rally

stage a nearby

side-street but about 50 policemen

charged in and broke up the gathering. The police used clubs sparingly and met little resistance, They said no one was hurt but 36 Communists were arrekted, bringing the day's total to 51. Meanwhile, British authorities blocked off the automobile entrances to the Soviet-controlled Radio Berlin and announced that Russian vehicles arriving there would be subject to control and inspection to see If they carried German personnel. The British disclosed that a Soviet vehicle recently leaving the station refused to halt on command and hit a military police-

man on guard duty. A spokesman

said the soldier was not hurt.

|= The radio station, although

Russian-controlled, is an ‘Island” in the British zone.

U. 5. Offers Notes At High Interest

WASHINGTON, Aug. 4 (UP) The Treasury today opened limited sale of $2 billion in one-year notes hearing 2 per cent interest —the highest rate the government has paid on such loans in 20 years. Treasury Secretary John W. Snyder announced Federal Reserve banks and branches and the Treasury will take orders for the “certificates of indebtedness” during the next four days.

DOWNSTAIRS af WASSON S August Values

| 1st Uranium Rush Something They Ate,

i Fijia i On in Canada jians Explain BRISBANE, Australia, Aug. 4

REGINA, Sask, Aug. 4 (UP) = (CDN) —Why do Fijian men wear The first big uranium claim-stak- Skirts Instead of pants? ink rush of the atom { An Aussie newsman who asked 8 . : a omic at opened a visiting team of dusky Fijian in northern Saskatchewan today. raatbhall players this question was

Sourdoughs who traded gold- solemnly assured that the. cussifting pans for Geiger counters tom dated back to the “good old cannibal days.” Explained a team spokesman: ing fast fortunes flew into the “Many traders who finished up in

and beardless youngsters seek-

wilds as 500 uranium claims were the cooking pots were Scots, thrown open to prospectors. Wien accounts for the sulu (skirt).” . ‘he onv t el per A To Piveiged on the lake It's a kind of kilt hecause we qolled wiidern un AVET are Scottish hy absorption.” Lodge, 600° miles northeast Of —e————— ——— here, in what Saskatchewan Rei rertis sources Minister J. H. Broockel-| Advertisement

bank said was the greatest rush 2 into the northland since gold was, 00 om 0 found near Goldfields, Sask, in » . For Burning Feet

ithe 30s. Northern Airways, operating Let Tee-Mint keep your feet in cool, fresh while the temperature soars, So

‘flights into the north, said it was . 4 comfort swamped. The company sent Up easy to apply this frosty-white medicated and cream -- so lasting in its soothing relief. A

| 3 {everything that could fly real help too In softening stinging callouses {still said it needed more planes, and corns. Don’t delay, Get Ice-Mint today.

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Drought May Send Food Prices To Even Dizzier Heights

TAIRS STOR Ed