Indianapolis Times, Indianapolis, Marion County, 30 August 1952 — Page 44

PAGE 30

Business Outlook— Boom, but Another Sort

By J. A.

WASHINGTON, Aug. 30—This is still a boom. Employ-| * ment is still right up near the peak. Prices are high. Wages

Livingston

are rising. But the boom’s slowly changing its character. Two highly significant studies make this clear. The

latest Federal Reserve Board, survey of consumers shows that 1951 was the first post war year in| which householders did not purchase more refrigerators, washing machines, automobiles, and | other durable goods than the pre-| ceding year. People were caught up wtih their buying. As for this year, aside from newer items, such as dishwashers, |

facturing facilities. Also, demand for merchandising and other facilities will be regenerated. The boom would get another lift.

John L. Lewis’ View The other side of the argument is better known. We'd be In a slump now if Korea hadn't started a defense boom. Housing is off from the 1950 peak. Automobile

clothes dryers, or television 818: | companies are going in for ex-| mr oL or rian ove Townling for Tots oes with new. This applies particu- rn ma look obsolete. This larly to refrigerators and auto-.. the pattern of all capital Tn Et Beg Then tha ment soe Copecty Up - plans are erties drops. That's

“less strong than in previous the case today.

“ &

1952

this attractive brick home at 5513

BROAD RIPPLE—Tom Gates of the Jerry Pitman Co. sold |

Wilbur. The two-bedroom home includes a den and double garage. It is now owned by Albert Gardner.

Indiancla Ave. for owner Claude

LOVE THAT MAN—Louis Randel (rig ciated Distributors, local headquarters for records, visits with RCA recording star Phil Harris at the RCA booth in the Manufacturers Bldg.

Stock Prices Rise For First Time: In Three Weeks

i) FLoiden of Asso-

TV, radio and

the State Fair. The stock market this week was 4 the 9 the dullest in three years with

Greenwood Firm Reports Demand

post-war years.” R. H. Macy & In fact, John L. Lewis’ strategy Co. just verified that by cutting 'n coal affirms it. Lewis is worits quarterly dividend from 50 to ried and looking ahead. Stocks of 40 a a share coal are high. Demand has What is true of consumers is dropped. Lewis can’t hope to keep likewise true of business. Allall miners employed full time. 8o types of businesses have been|he 18 seeking a Sew spreadsihe: adding to facilities since the war. . 9 { that a h so, that manufacturing higher rates of pay on mines tha ue BS” created BY ap-{operate more than three days a wee n siac mes, | prosimately + pe ont Ad bid Lewis’ idea is to penalize low- | according to a joint study by the 2% De eer Ter Department of Commerce ot the yay he hopes to avoid desolate,| Rocunties and Exchange Com-|,. work areas during periods of mission. | 1 and. | Not only that, but about two-|"'%% the moment. as T se it, it's! fifths of all existing facilities are|y arder for business to move up new. They were bullt post-war..,, » higher plateau thaf to step They won't require extensive re- j,.; Consumer demand {isn't pairs, maintenance, or replace- u,v to rise sharply. And defense ment. The inference here is that, hedules have been stretched out : the edge is off the urge x ble: again as a result dt the steel | Thus, the Somme 88 ru strike. But the present high-level bolnts put 4 oo do. plateau 1s likely to last until a oy: sie Bit A ruios and finance|neW President is inaugurated. ~— has “turned down.” Unquestionably, in some in-| stances, programs were curtailed or stopped by government restrictions and limitations. But tHe easing in consumer demand was probably an even greater in- For Homes Strong Buence. The Herman Greenwood Real i Estate Agency, 4830 W. 16th St. Tr riores on[7oris & decided increase i 3 les for the past six weeks. | plant and equipment are running "ye BE Sl said: “Our 3t a Seasonally Sdnistes annualigej.g during the past six weeks, tate of $27.68 billlon a year. ,..a heen the best for a comThat's 5 per cent higher than|,,raple period of time we ever|

during the full-year 1951. But, as p54 enjoyed. During this period | the following table shows, the|we sold 17 houses with a value tise-is-—concentrated in_manufac- oe approximately $160,000.

turing and public utilities: “The public's confidence in real

og ate’ PaL.ount sntate right now 5 most marked (a ong an elleve e deman or| Manufacturin 11,130 | +1 | Mining urine dole HIS 18 homes in the medium price range Rallroad ation JV? M0 — gi remain very good for the re (other than RR) 1490 1300 —13 |mainder of the year. Our busiy Utlitd 860 AB 1 A Givers ig 7.470 87% Xo [ness this year is 25 per cent

Total .......;.836,330 $27,680 + B *Includes trade, communications, serve fee, construction,

- The great enigma is: What's to Keep the capital-goods boom going? If it doesn’t keep going, then the next major move of production, prices, and employment jwill be down. You can argue the case either way. High employment and high payrolls generate high purchasing power. High purchasing power generates aspirations. The housewife who bought a washing machine and felt content with it begins to think in terms of a glothes dryer or a dishwasher,

ahead of last year and I'm confident it will continue that way,” he predicted. The following homes were sold in the past six weeks: 3309 W, 224 St., 2030 Carrollton Ave., 5900 W. 10th St, 1632 N. Rochester Ave. 1328 8. Berwick Ave. 1102 N. Olney St, 420 N. Berwick Ave. 1640 N. Centennial St. Also 349 8. Lyon Ave. 1055 Oliver Ave, 5131 N. Primrose Ave., Clover Road Iva M. Rice property, Rd., 1073 N. Berwick Ave. 1814 N. Auburn St, 1816 N. Norfolk St., 320 8. Lyndhurst Drive.

Gregg Cleaners Opens New Drive-In’ Shop

pr ge

READY FOR BUSINESS—The newest Gregg Cleaners shop,

located at 2630 Madison Ave.

Gregg Cleaners, city’s oldest, announced today the opening of a new drive-in cleaning shop at 2630 Madison Ave. in the heart of the Madison-Southern| shopping district. 8pecial features of the new shop include a large parking lot, cash and carry discount on all laundry and dry cleaning services, emergency service and the most modern dry cleaning and laundry plant in Indianapolis, reports C. O. Hinkley, vice president and general manager of the firm.

Fast Work

one of the|

prices registering their first advance in three weeks.

High-priced oil and railroad, hares led the upswing. Some ivotals in these groups regisered extremely wide gains. On alance, improvements were genrally in the fractional zone.

Volume slumped sharply despite he advance. Sales this week otaled only 4,533,123 shares, the mallest since Sept. 3, 1949, when hey totaled 3,535,180. Last week hey totaled 4,747,301 shares. On dally average basis, sales totaled only 906,624 shares. The market in nine sessions has not surpassed the 1,000,000-share mark.

PoE orc oC

8-Day Upswing

The upswing got underway on Wednesday and continued throughout the balance of the week. On Friday, it registered Its best gain and also closed at its high for the week. The railroad average rose $1.37 to $108.31 and the industrial average added 61 cents to $275.04. The utilities rose only a few cents. Many things combined to help the stock market. Corporate earnA grand opening was held this|ings in particular played a big week end with prizes and awards part. However, market experts for those attending. _ |pointed that the list was due for The trend for drive-in service|a rise because of the decline in the prompted the organization to lo-|tWO preceding weeks. cate their latest shop in this fast-| In the way of corporate news, growing section of the city’s|U. 8. Steel reported a net profit South Side, Mr. Hinkley said. It|in the second quarter despite the will be open from 7:30 a. m. to|55-day steel strike which cost the 8:30 p. m. Monday through Friday company $20.8 million. However, and Saturday until 6 p. m. a tax credit of $43 million wiped out that loss and brought about net earnings of 61 cents a share on the common stock. A few stock splits also bolstered the market somewhat. Barber Oil and Federal-Mogul Corp. recommended stock splits. Western Union received a rate increase and stock responded accordingly.

Too Much Money

HENDERSON, Ky.—One, two and three-bedroom apartments renting for $15 to $20 a month here are finding no takers. The 26 units, part of a federally sub-

NEW YORK — A record in speedy instalaltions was set when

transmitting equipment to get Denver's new station KFEL-TV on the air within a week after the FCC granted the first construction permit since the ‘‘freeze”

1310 N. High School Was imposed in 1948.

The automobile owner who has always had a second-hand car thinks in terms of a new one. _ | If that happens, then there will| be demand for increased manu-|

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On the adverse side of the picture was a reduction in dividend by R. H. Macy and DoehlerJarvis,

families with incomes below $1000

official, “We can’t find anyone making that little money.”

NEW YORK, Aug. 30 (UP) —|week after mostly dull trading.

vious week continued and prices were the lowest since late June.

downward from $21.10 for choice

Cattle Prices Steady, Lower; Hogs, Sheep Down

CHICAGO, Aug. 30 (UP)— Livestock trade in a pre-holiday week was generally slow, with cattle closing steady to lower and hogs and sheep lower for the

Hog price declines of the pre-

Closing hog prices ranged

sorted 220-250-pound weights. Closing bulk choice 190-260-pound butchers $20.75-21; 270-300 pounds butchers $20.75-21; 270300 pounds, $10.50-20.75, few lots 150-180 pounds, $18-20.50. Most sows under 350 pounds closed at $17.50-19.50. Barrows and gilts

SUNDAY, AUG. 31,

BROAD RIPPLE PARK—This five-room frame bungalow at 6127 Primrose Ave. includes a glass tile bath, two bedrooms and fireplace in the living room. It was sold for Dr. Herbert Sedan by M. L. Phillips of the Paul Partlow Realty Co. New owner is Lawrence King.

CHICAGO, Aug. 30 (UP)— Grain futures were mostly easier on the Board of Trade this week with rye and the. September contract of soybeans showing weak undertones.

Trading volume was rather light. The Canadian crop’ news continued to be favorable and

induced a certain amount of selling, there was no export news to speak of until Friday and fresh flour sales were negligible, and reports of weather and crop advancemeént over the grain belt remained favorable. The September contract in the bean market bore the brunt of the liquidation this week. Crop news was favorable and reports from Washington were uncer-

were 50 cents to $1 lower, most of the decline on weights under 230 pounds, and sows were 25-30 cents lower.

8 ” » CATTLE receipts were smaller but among the largest for any week. Good to prime grades were most numerous. Choice and prime steers and yearlings recovered earlier losses of 50-75 cents and wound up steady, but other steers and yearlings closed steady to 50 cents lower. Cows generally were 75 cents to $1 lower than last week's close, Bulls closed mostly steady, vealers fully steady. The bulk of choice and prime fed steers and yearlings were $31.50-35. High choice and prime 1550-1602-pound weights $33.50-| 34.25. Several prime steer loads $35.25-35.75. Most high commercial to low choice steers $27-31.50, load lots Southwestern grass utilities $22.50-23. Cutter steers down to $18, Sheep and lamb trade was dull, high-good prime spring lamps losing $1-1.50, and other grades declining $1.50-2 or more.

Autos Pay Tax Share One-eighth of all tax revenue in the United States came direcsly from the use, manufacture and sale of motor vehicles or automotive equipment in 1950, Fleet Owner magazine reports.

tain concerning the ceiling prices

Grain Prices Mostly Easier in Week

on soybeah meal and bean meal ‘mixtures. Compared with Friday a week ago, wheat closed 34 to 14 cent a bushel lower; corn 1% to 1% lower; oats 3 lower to 5 higher; rye 5% to 10% lower; soybeans 3% to 515 lower; lard 13 higher to 37 points a hundred pounds lower.

Sea Mount Found By Science Service LA JOLLA, Cal. — An underwater mountain peak rising more than two miles (12,192 feet) from the ocean floor was discovered during the 14,580 mile Pacific cruise of the research vessel Horizon just returned here. The new sea mount is 1200 miles west of Acapulco, Mexico.

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