Indianapolis Times, Volume 37, Number 142, Indianapolis, Marion County, 14 October 1925 — Page 5

WEDNESDAY, OCT. 14,1925

mi KIDNAPED AT OWN DOOR Police Scouring Foreign District at Whiting. Bv United Preaa k WHITING, Ind., Oct. 14.—Police r today are scouring the foreign district for the masked men who Monday night kidnaped Mary Constotif, 19, as she entered the front door of her home. A Chicago Greek whose name is not known by the girl’s parents is believed responsible for the kidshaping. This man swore that he would “get her” when she objected to his attentions. Three men vnpre arrested Tuesday and released under $2,000 bond, as possible members of the gang. The men rented an automobile in Hammond Monday night and could not satify the police concerning their actions. The girl was arrested as she returned from the theater with her mother. Just as she opened the door to her home she was seized by two masked men and carried to a waiting auto,o mobile. FLORIDA IS ON A SKYROCKET - (Continued From Page 1) Flagler St. in Miami has sold for more than front footage on Washington St. This is probably true, But it is unreasonable to suppose a town whose highest claim is 100,000 population and to which the State’s official census allows only 69,764, can support a store which must pay the same or higher rent than in a town of 750,000 customers. Based on Assumption The highest assessment ,on any Washington, D. C., business property. Is SIOO a square foot. A piece in Miami was leased recently at a rate of S4OO a squa?te foot. This price was based on the argument that Miami would have 1,000,000 population in five years. But speculating on population increases on the basis of boom conditions is exceedingly dangerous. Allowing a thirty-foot frontage at $40,000 'sa, front foot, the asking price of a certain Flagler street property in Miami, it would make the gfS’und cost $1,200,000. This means an annual ground rent, including taxes, of $96,000 or 8 per cent. On such expensive ground a huge building must be erected to earn that rent. This buildirig would cost no less than $2,000,000, which would add, for insurance, taxes, depreciation and 6 per cent interest on money invested, at least $200,000 to the rent. In other words a store or office building on that site would have to yield $24,666 a month to bring the owner 6 per cent on the Investment provided there were no additional overhead for upkeep. How Ho They Do It?

If a store is on the Bite, it must take in $822 each day before it begins to pay for its goods, the overhead for clerks and service or make a profit. How many stores can do that? ' Miami seems to have get the pace for business site appraisals. Socalled business sites in subdivisions yet to be built bring enormous prices. Spots arbitrarily zoned for business or apartment purposes near larger towns are held at prices out of all reason. I saw a lot twentyfive feet wide sandwiched between two little frame shacks, two miles from Tampa’s business district, marked “business property" and held at $30,000. , In the little town of Melbourne, with 1,245 people and one small business block, a lot 50x60 feet was held at $72,000. I asked the owner how he justified the price and he said, "in Miami property brings thirty times that much for a lot that size in the business section. Miami isn’t more than thirty times as big as Melbourne and my land is therefore worth at least one-thirtieth ns much as Miami’s.” There was use arguing with that man. He believed it and voiced an even sounder opniniop Os values than many alleged real estate operators I talkbd with.—Remember These Things In buying business property these Things must be considered to determine its earning capacity: 1. The number of possible customers for tiie business for which the property is suited. 2. The chance of getting a sufficient. share of the business to pay rents, overhead and profit. 8. The general adaptability of the property to the purpose intended. A favorite method of boosting business property prices is to trade back and forth, make fake transfers valuing properties in the trade FRIENDS SAY SHE IS PICTURE OF HEALTH "1 cannot give Tanlac too many thanks, for it brought back my health and strength after everything else failed, ami nearly all hope of getting well had left me,” is the grateful statement of Mrs. Sarah Duckett. ‘‘Stomach troubla nnd rheumatism bad been gradually weakening me down iqr 20 years. At times I ached all oyer, could not walk without limping, and felt too weak to get out or my chair. Sleep was almost out of the question and I was nervous, discouraged and despondent. “When I began taking Tanlac I was down to 120 lbs. but I now weigh 100 and haven’t an aliment In the world This Is what Tanlac did for me four years ago and since then I hare never been without it in the house. I take a bottle now and then and everyone says X am the picture of health.” What Tanlac has done for others, It can also'do for yon. For sale by all good druggists. Accep* no su'bstllule. Tanlac Vegetable Pills for constipation. made and recommended by the manufacturers of’Tanlac. TANLAC FOR YOUR HEALTH

at hugs prices and announce publicly the new high price level. Then go out and sell the land next door at a little less than the puffed-up price of the first piece. It is significant that few of the high-prlcedd properties can find lessees for more than a short term. The reason is that the merchants are willing to pay high rates as long as # the boom lasts, but they know when the speculators lea.v# the trade will go and they won’t lease for long periods. Where long-time leases can be obtained, the lessees are often irresponsible and in any event the rent cannot' go on beyond the point where trade falls off. Demand Great Demand for business properties is great. But analysis shows that the demand is abnormal. In Sarasota, one of the smaller places where realestating isn't so general or Intensive as in Miami, of 619 licensed persons and concerns doing business 363 were real estate, while the other 166 wej;e divided among all other businesses.

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MAIL ORDERS FILLED—ADD POSTAGE HAAG’S PRICES ARE LOWER

This proportion is large In many other places. But even there, more than three-fourth of all stores and offices were taken by real estate men and the argument that demand would hold up business site values was advanced. But this condition will rot last. When the real estate brokers quit, there will be three times as many stores on the maiket as merchants to take them. Values of burns and residences mufct be measured by their producing power. Thousands of home sites are being sold with no Intrinsic value at all. They may be miles from the nearest grocery store or neighbor. Residences depend for iheir value on the charm of the location plus nearness of food and medical supplies, schools and churches. Character of the neighborhood is also a factor in valuation. Don’t buy Florida land until you have seen it and know how it lies. Land Overpriced Charles Harwood, secretary of the Alachua County Chamber of Oom-

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THE ESDiiu. AAX Vv

merce at Galnsvllle, has been through many booms. He had this to eay to Florida: “It will take years to bring values up to the prices now asked everywhere. Even farm land is mostly over-priced. This is because nobody is buying for occupation, but everyone is buying for speculation. Each fellow hopes to catch his particular sucker. If there were some criminal action possible against the speculator who ties up land, puffs up the price and then, If he doesn’t sell, lets the mortgagee hold the sack, It would help. If these fellows knew they’d have to make good on their purchases then)selves or go to jail, we wouldn’t see mortgages pyramiding sky-high and prices all out of line.” Harwood Is trying to organize the chambers of commerce to obtain remedial legislation. If you do buy and expect a profit, think out in advance how much in crease in price you must get before selling. Most subdivisions, for instance.

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and all acreage carries at 10 per cent commission to tho broker. 1 The lawyer who examines the abstract charges an additional 2 per cent of the purchase price. When you buy, you start off -with an extra load on the land then of 12 per cent. If you hold for a year, you should get 6 per cent on your money. That’s 18 per cent you.-have to raise. When you sell, the broker gets another 10 per cent. The burden Neuralgia or headache—rub the forehead —melt and inhale the vapors VICKS • ▼ Varo Rub IT Million Jbtm U%ad Yearly

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then Is 28 per cent over the last man’s price. The fact that he paid the broker’s commission when you bought does not alter the fact that the land had to stand it. But you could get 6 per cent interest on your money anywhere. You would want a, profit of say 10 per cent over that. That means you must sell a SI,OOO lot for $1,380 to get a small profit Within one year.

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An editorial in a recent issue of Wallace’s Farmer put forth the following appreciative tribute to efficiency: <r VVe believe that if Standard Oil Company brains were applied to the lowa com ana hog industry, that the profits of lowa farmers could be fully three times as great, while at the same time the consumers of lowa com and hog products would be even better satisfied than today.” We recognize the fact that in naming the Standard Oil Company* (Indiana) the alitor had in mind an efficiently managed business organization, and used this Company merely as an example of what may be accomplished by applying specialized intelligence to the problems of industry. This Company believes that new wealth accrues only through the intensive application of trained intelligence to practical and useful problems. The dividends which the Standard Oil Company (Indiana) returns to its 50,000 stockholders each year, are due not to some miracle of oil something unearned and unstriven for—but to the efforts of men with trained minds, working within the Company organization; men who willingly and enthusiastically apply their intelligence without limit and without stint These trained men of the Standard Oil Company (Indiana) have built up, over a long period of years, such a substantial and comprehensive service as to meet completely the needs of the people of the Middle West Reliable profits come only through satisfying service. This Company entered the oil business at a time when its possibilities were un-dreamed-of. By constant application, rigid economy, and advanced thinking, it developed these possibilities, finding that every step ahead resulted in the creation of useful products. It looked for profit-making opportunities. In finding them, it greatly extended its field of usefulness to the community. Now in nearly S home, farm and factory in the ten e Western states, this Company’s products are rendering essential service. There is scarcely a family whose living standards have not been raised and satisfied by someone or more of the products manufactured by the Standard Oil Company (Indiana). Standard ’Oil Company (Indiana) General Office: Standard Oil Building 910 So. Michigan Avenue, Chicago

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