The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-07-22
Trends
Indiana'S Business
Undertone Gets
Better
BY VINCENT LYONS.
Tines Financial EditoF

DhOEEhBlAL prosperity, net-
4 aided for some time now as
turtively lurking around the cor
ner. appears to have come out in
the open in Indiana. Then quasi
tabled gentleman has shaken of
his inferiority complex to such a
degree that he IS standing in fun
view OF every one and taking pot
shots at the black clouds Of depres-
sion.
The universally welcome medi-
um's latest soiree was staged in the
last week when he dropped calling
cards at the Allison Engineering
Corp. Of this city: the Information
al Harvester Co. of r. Wayne and
the Oliver Farm Equipment Co. Of
South Bend
The Allison Engineering Corp,
through its president and general
manager, n. H. Gilman, has an
nounced plans for the construction
and equipment of four modern
buildings having an aggregate floor
space Of Al 900 square feet. The
present wooden structure will be
demolished 20 make room for the
new and modern plant.
THE international Harvester
Il Co. contemplates the under
taking of a sI.75O. 900 plant expan-
sion program. In connection with
this ambitious schedule two ad-
ditions Will be built: one, costing
81 100000, at Fl. Wayne, and the
other. necessitating an outlay of
s75O00O, at Springfield. o. New
buildings and new equipment also
are included in the program.
The Oliver Farm Equipment Co,
forced to take it on the chin be
cause of the severe deflation of
farm values, is beginning to get its
head above water. Last week it
was disclosed that profit was
earned in March and April; the
first time that this condition had
prevailed in five years. A further
step along reha Utilization avenue
will have been taken if stock
holders, at their meeting tomorrow,
approve a comprehensive recapl-
talization program.
In addition TO these three devel-
opments, which stood out, there
have been several other incidents
recently on the optimistic SIDE.
Summed up they tend to indicate
that there is need for a seventh
inning stretch on the part of gen.
eral business and wholesale pull
for a rally.
The expansion programs OF the
Allison Engineering Corp. and the
International Harvester Co. do not
represent braggadocio. Big bust
ness is not prone to spend If it be-
lieves a better deal can be worked
out by waiting. A year ago, per-
haps. neither of these undertakings
would have been launched, for then
confidence was a lost chord.
Allison Engineering Corp. is an
affiliate Of the General Motors
Corp. Alfred P. Sloan Jr., presi-
dent of the General Motors, has
been one of the Administrations
severest critics-a role which he is
entitled TO If he believes in it. I'm
doubtedly Mr.. Sloan passed upon
the local company's expansion pro-
gram and the fact that work on
the plans is to 60 ahead would
seem to indicate that all is not lost.
NRA's demise is less than two
months old Just how important
that event was in the light OF the
expansion programs announced is
difficult to estimate. Certain bust
ness interests have maintained
consistently that the Blue Eagle
was strangling them. 1t will be in
teresting to see if in the next few
months more expansion and mod
erniZatiOn schedules are laid out.