Indianapolis Times, Volume 43, Number 263, Indianapolis, Marion County, 12 March 1932 — Page 14

PAGE 14

PROPOSED BANK BILL BENEFITS SMALL OWNER Easier Money Policy Aim of Federal Home Loan Bank Company. Although wide publicity has been Riven the proposed Federal Home Loan Bank Company, action on which now is pending in Washington. very little has been said of the practical benefits to be realized oy the small home owner. Gavin L. Payne, who appeared before the United States senate banking subcommittee at Washington three weeks ago as a representative of the Indianapolis Real Estate Board, summarizes the merits of the proposed bill as follows: ‘ The man with a small home, or proposing to build a small home,” said Payne, ‘‘is dependent on practically two sources for his first mort-gage-through the building and loan association or the trust company or state bank. Loan Resources Great ‘ For many years, he has found these facilities adequate in Indianapolis. Indeed, this city has the largest building and loan association in the world—the Railroad Men’s—with fifty million dollars’resources. “Altogether, the associations in Indianapolis have around one hundred and fifty millions’ resources, and when you consider the trust companies also making loans, you can see what a factor these institutions have been in developing homes. I do not know how Indianapolis now ranks, but a few years ago, with the exception of Philadelphia, it led the nation in homes owned per capita. That was something of which to boast. It gave a quality to our population, and quality is of vast importance in the scheme of urban life. Two Hardships Created “The building and loan associations in Indianapolis are what the big savings banks are to New York City. “Until the recent great financial crisis, the machinery of these institutions worked beautifully. But when people are activated by fear, they all want their money at about the same time. “Building and loan associations, in order to pay dividends to stockholders, or depositors, as they are sometimes called, must keep their money well loaned out on mortgages and if they pay off their stock rapidly, they must do one or both of two things, either stop making loans or insist on people paying off good maturing loans. “So there would be a doublebarreled hardship—the man who wants a, loan on his existing home or anew home can not get it, and the man Who has a maturing loan on his home must pay at a time when he can not get the money anywhere. Confidence Is Needed “If a depositor feels confident he can get his money when he wants it, he seldom wants it. If he knows a building and loan association can rediscount its mortgages with a reserve institution, just as a national bank can rediscount commercial paper with the federal reserve bank, his fear is more or less obliterated, and the building and loan association can go about the even tenor of its way, and the man of small means can get his loan as usual. “A building association or trust company, knowing it can rediscount mortgages any time with a reserve institution, will not deny a community good loans. “Again, I think people will increase their investments in building and loan stock, knowing that the association has the advantage of the reserve institution—and so the benefits of the new federal home loan bill will be twofold. Homes Will Be Needed “The chief argument against the bill is that we will have inflation — that is. too many homes. As against thus we maintain that the surplus of single family dwellings today is due to the ‘doubling up” of families, and that when employment becomes more general, there will be a shortage of homes, as each family will want a home of its own. "The new bank can not discount mortgages of more than $15,000, and only on one, or two family dwellings, as it is designed solely for the benefit, of the home.”

TOW-IN TACTICS DRAW PROTEST FROM WOMAN Motorist Says Police Told Her “Maybe They Had a Grudge.’’ “Maybe they had a grudge against you,’’ is the reply which Miss Marjorie Smith, 822 North Illinois street, said she received at police headquarters Friday when she protested against impounding of her automobile. Miss Smith said she double parked on Pennsylvania street opposite the postoffice and went into the building to purchase a stamp. She estimates she was away from the car one and one-half to two minutes and was outside of the building on her return when she notice preparations to take the car. She protested, but was forced to pay the customary fee at a garage. She asserts one car was double parked ahead of hers, another behind and a third was in a nearby safety zone. Miss Smith said she is unable to understand why police should have a ’ grudge’’ against her, as she has been in Indianapolis only a month.

And Os Course It’s Insured by Harvey B. Martin Agency 801 New City Trust Bldg. RI. 5604

!'■■■ M r ■ Hi.-' ri.u Mi.ii.-i H■ ■ rii■ CARL W. LINDEMAN Quality BulMer 36 N. Kenyon Avo. IR. 6760 I'riMii Plan !<■ Finished Hume

World-Famous Liberty Rug Is Displayed at Model Home

Betty Jean Davis, 3269 Central avenue, and the famous Liberty rug.

‘Best From Persia’ Meets ‘Best From America’ as Lecture Is Given. The best from Persia hobnobbed with the best of America this week when the world-famous Liberty rug was taken to the Realtors model home, 5240 Cornelius avenue. Thomas H. Kullujian, owner of the rug, gave a lecture on oriental rugs to the visitors at the model structure. The Liberty rug has come to be known also as the wishing rug in the last few years. James Rolph, then mayor of San Francisco, stood on the rug and wished to become Governor of California. He was elected the next time the people went to the polls. Your Guess as Good as Any Similarly, Franklin D. Roosevelt, while standing on the famous floor covering, expressed his desire to be named Governor of New York. Ho succeeded Alfred E. Smith at the next election. Betty Jean Davis decided to try out the rug’s properties. She walked on to the rug as it was draped against the wall at William H. Block and Company, where it has been on display this week. She refused to tell what her wish was, so your guess is as good as any one’s. The rug is more than 100 years

new ideas for the HoiJSE wife: ...5240... uAnri 1 CORNELIUS AVE. | T Vn a* 1 (West on 52d from Meridian to Cornelius) X JL 1V X Lj Ease of management is the keynote of the 1932 Model Home. The interior arrangement of the home has been carefully planned with particular attention to minimizing housework. Note carefully the air conditioner which eliminates dust and assures a fresh supply of properly humidified pure air in all seasons of the year—the automatic heat control, resulting in an even temperature in all rooms at all times —the ultra-modern laundry—and the entirely new idea in kitchen efficiency. Get Your TICKETS Now • • • ... Home Complete This Home Today! ||| Exposition. Greater than ever before in n _ A Laboratory of NEW family the opportunity to see _ on exhibit the newest equip- HI ITT iDITNO TUT*! AS? niont for home comforts and tj VJ l.L'.Ljn.O .... conveniences. .. '3K. t g? Revealing Architectural dkTiays nt3 ;: new us .'dens or i a n Beauty in Its NEW FORM landscaping . . . living growing plants . . . that offer Thp CaDG COQ ColOlliEl NEW IDEAS in garden plan- * * * x a F c vuiumai ning. Decide now to give every member of your family the opportunity to see the .. REALTORS HOME COM- D,,C1lPLETE EXHIBIT . . . April DUlil DV 2nd to April 10th .. . STATE J ? FAIRGROUND. The Indianapolis W ph3ne° rM " BUILDING INDUSTRY | y SPONSORED BY THE INDIANAPOLIS HOME BUILDERS ASSOCIATION

old. Legend says it was woven by a French noble while exiled during the French revolution. He is supposed to have gone to Persia where he fell in love with the beautiful daughter of a shah, by his favorite wife. Rug Has Toured World Then the lover was kidnaped by a famous bandit. When he was about to be killed, the bandit’s comely daughter saved him, after the best Pocahontas manner. She helped him weave the rug, telling of his love for the two loveliest maidens in all Persia. The rug got its name, “The Liberty Rug,” in 1915, when the Liberty Bell was taken to the Panama exposition in San Francisco. It rested on the rug throughout its stay there. Since that time it has toured the world. It has been under the feet of scores of famous men at many historic events. MALES HOLD MAJORITY Men Outnumber Women in U. S. by 1,499,114, Census Reveals. By United Press WASHINGTON, March 11.— Males outnumbered females by 1,499,114 in the United States in 1930, the census bureau reported today. Males continued a numerical superiority which has been recorded every ten years since 1820. The total male population in 1930 was 62.137,080, and the female 60,637,966.

THE INDIANAPOLIS TIMES

MURRAY WINS AGAIN Troops Threat Ends Ban on Natural Gas. By United Press OKLAHOMA CITY, March 12. By restoring to his favorite expedient, threat of marital law, Governor W. H. Murray today won another victory . over administration opposition. Fire inspectors pronounced pipe line facilities serving 500 homes a hazard. City officials ordered the natural gas cut off. The Phillips Petroleum Company superintendent began severing the connections. Intense suffering would result during the sub-freezing night, residents told Murray. On the telephone to the Phillips plant chemist, Murray said: “Tell them to put those lines back—and damned quick.” He ordered national guardsmen to stand by. A conference of interests concerned was held and natural gas supply to the 500 homes arranged. AVarn Against Coupon Swindler Police have been advised that a man selling coupons for 50 cents each, purporting to entitle the purchaser to $2 worth of work at the Martha Jane beauty shop, 325 Continental Bank building, is a swindler.

APARTMENTS IN READINESS FOR SPRING MOVER Owners’ Association Reports Letting of Contracts for Work. Marked activity among operators of apartment buildings has been noted in preparation for spring, W. P. Snethen. secretary of the Apartment Owners’ Association, said today. More than 150 members of the association already have given out contracts to cleaning organizations, painters, decorators and other skilled and unskilled laborers with decidedly increased sales to material and supply houses. “Despite present business conditions, owners of modem apartments are continuing to keep up a high standard of excellence in appearance and conditions of suites in buildings and the buildings themselves,” Snethen said. In Indianapolis, more than oneeighth of the families live in apartment houses. To properly house this vast army of families requires the best scientific thought in modern home equipment. These large structures need close supervision, expert care and upkeep.

DEPOSITORS ASKED TO WITHDRAW ACCOUNTS Chicago Institution Wants to Close Doors; Can’t Make Money. By United Press CHICAGO, March 12.—The Unity Trust and Savings bank today became the fourth bank in the Chicago area to ask depositors to come in and take their money away, so the institution can go out of business. Notices mailed to depositors said that “there is no sense in being in business if you can not make money or break even. So we have decided to go out of business. The bank’s depositors will be paid in full.” Officers said deposits have shrunk from $1,000,000 to a little more than $300,000 within a year.

Gone, but Not Forgotten

Automobiles reported to police as stolen belong to: Carson Emmons. 1702 North Alabama street. Ford sedan, from Seventeenth and Alabama streets. F. Walters. 320 North Forest avenue, Chevrolet coach, 129-120. from Senate avenue and Market street. The Rev. Father Pierce Dixon, Shelbvville, Ind., Nash sedan, 257-463, from in front of 2834 North Talbot street. T. J. Burrin. Lebanon. Ind., Chevrolet coach, 1-033 from 3205 Sutherland avenue. BACK HOME AGAIN Stolen automobiles recovered bv police belong to: Floyd Hogan. 1326 Spann avenue, ‘Ford coach, found at Shelby street roundhouse. Catherine Gaynor, 713 Chadwick street. Ford coupe found at 148 East Pleasant Run drive. Hurl Epler. R. R. 6. Box 571. Chevrolet coupe, found in garage in rear of vacant property at 2322 Arsenal avenue. Nash coach. 759-618. found in front of 223 East Seventeenth street.

* Northside Realtors Have Joined Together to Offer These SPECIAL HOME VALUES OPEN FOR INSPECTION SUNDAY TAKE THE ENTIRE FAMILY AND SEE THESE!

1526 N. LINWOOD 3-Bedroom brick home—tiled bath, oak floors —garage—beautiful landscaping—2 blocks from church, school and on bus line.. It will save vou money to see this house before you buy. Open. Every Afternoon. 2 to 5. THE POWELLS Realtors 5440 N. Meridian. HU. 5967.

5760 BROADWAY This is a most attractive brick veneer home: side center hall, cheerful living room with fireplace, excellent kitchen and breakfast room. Three lovely bedrooms and den up. Side drive. 2-car garage: deep lot with sunken garden. Close to School 84. Desirable neighborhood. Verv low price. Will consider exchange for cheaper 3 bedroom home. Shown bv Appointment EDGAR E. BRODBECK Realtor. Lincoln 7491. Res. Ta. 3740. Gregory & Appel. Inc.

5720 CARROLLTON English type, 3 bedrooms. 2 bathrooms upstairs. one glass enclosed shower, lull social room. Wayne oil burner. Built by owner. Most beautifully designed and arranged. Beautiful yard, stately trees; 2-car garage. Cost $21,500 little over year ggo. Reduced to $17,000. ALBERT J. QUIGLEY, REALTOR WAshington 0957. Riley 4561.

Prices Are Right! Terms Are Right! Buy Now!

SALES AND RENTALS UP IN BEECH GROVE

Influx of Mechanics Is Expected to Create House Shortage. Return of 1,200 men to work at the Beech Grove shops provided the incentive for a brisk upturn in rentals and sales of real estate in that section of Indianapolis during the latter part of February. It is reported that many mechanics, to be transferred here from eastern shops of the company, will create a housing shortage in the near future. Sale of four brick veneer dwellings on Emerson avenue and Southeastern avenue, two cottages on Eighteenth avenue and renting of five cottages near St. Francis hospital, were reported by Bert Wilhelm of 2106 South Emerson avenue. A constant inquiry for cottages and acreage in this section of the city is reported by Wilhelm. According to officials at the shops employment will be steady there for the next eight or nine months owing to the accumulated repairs needed on a large portion of the railway’s rolling stock.

YACHTSMEN RESCUED Six Taken From Du Pont Yawl by Transport. By United Press ABOARD U. S. S. REPUBLIC, March 12.—Richard and Victor Du Pont and their four friends, rescued Friday from their yawl Nahma, were recovering today from effects of exposure and exhaustion after fighting a six-day storm at sea. Tlie Du Ponts, members of the Wilmington (Del.) powder magnate’s family, were accompanied by Scott Townsend and Thomas Laffey of Wilmington and Lloyd Coats and Benjamin MacFarlane of Philadelphia, on a cruise from Moorehead City, N. C., to Miami. Fla., when Officer Powers of the Republic sighted their craft Friday. The yawl's flag was upside down —the signal of distress. W. T. Oliver, master of this transport, ordered the vessel alongside, and the young men were taken aboard. They were placed in the ship’s hospital, given hot baths, fed and put to bed. The six young yachtsmen will be landed at Panama, where they will arrange for passage home. PASTRY SHOP ROBBED S2OO Stolen From Cash Registers in Monument Place Store. Burglars who entered the pastry shop of Louis Weiss, 37 Monument place, took S2OO from two cash registers, Weiss discovered when he opened the place today. Entrance was gained by smashing glass in a rear door. The registers were taken to the basement and opened.

st“” i * 1008 CENTRAL Sillerv says: Buy this splendid property as a home for your business. Twelve rooms, two baths, lavatory in each bedroom; four-car garage with servants’ Quarters. Solid brick house, slate roof, steam heat. Perfect condition: 80-foot corner lot. Zoned for business. Offered for less than ground is worth. Reasonable terms. Owner a non-resident. Open for inspection Sunday 2 to 5 p. ra. FRED H. SILLERY REALTOR Call TAlbot 3791 for further information and appointment.

New English tvoe brick veneer. Studio living room, large coat closet, library with book shelves, dining and breakfast rooms, kitchen with large cabinets, tile drain. Frigidaire. 2 bedrooms with cross ventilation, colored tile bath downstairs. master bedroom with private bath and 1 bedroom with lavatory and toilet upstairs, social room, laundrv and furnace rooms, oil burner, automatic water heater. 2car heated garage, lot 60x182. Call Mr. Graham. Ri. 3536: Res.. Hu. 7344. W. R. HUNTER CO., REALTORS.

} 532 HIGHLAND DRIVE OPEN SUNDAY P. M. This modernized brick home is offered at a 1931 value: 3 bedrooms, sleeping porch, master bath: large shaded corner lot. oil burner, oil painted walls. Frigidaire. water softener - extra toilet: attached garage: near schools, churches and beautiful wooded section. Will Accept Bungalow in Trade RHev 2644: Eves.. WAshington 5228. THOS. F. CARSON & CO.

Catch to It! Fishhook Is Taken From Man’s Eyelid as Bolt Cutter Snips Barb.

By United Press XTENICE, Cal., March 12.—A * garage tool five feet long and weighing twenty-five pounds was used successfully here in an operation on the eye of John Hein. 40, of Long Beach. After a physician and nurse were balked trying to remove a fishhook from Hein’s upper eyelid as he lay on an emergency operating table. Police Officer Emery did the trick. He rushed to the garage of Pete Kerneta, nearby, returning with a large bolt cutter. Carefully Kerneta and Emery lowered the huge tool and snipped the barb of the fishhook. Then the doctor easily pulled the hook from Hein’s eyelid and dressed the wound.

SUN GROWING WEAKER Spots Have Cut Ray’s Intensity by Third in 6 Years. Says Scientists. By United Press LOS ANGELES, March 12.—Sun bathers must remain under Sol’s rays one-third longer now’ than six years ago to obtain the same amount of ultra violet rays, Dr. Edison Pettit, Mt. Wilson observatory astronomer, believes. His observations show sun spots responsible for the decrease. Rabbits provide the fur for eighty-six different kinds of fur coats. French sable is one of these.

We furnished the LIGHTING FIXTURES IN THE 1932 MODEL HOME Choice oS 30 £B%sH% s *. Electric Ball Lamp CEILING n 1j fixtures * $f 19 Various Styles, _ with ■?, and 5Hr fills, W < at this special price LjElffij If g [kP

5234 WASH. BLVD. Charming colonial type home with center hall, living room 13x26, large dining room, light airy breakfast room, kitchen with plenty of cabinets, lavatory and coat closet on first floor. Four large cross-ventilated bedrooms, bath and five roomy closets on second floor. Full basement with laundry tubs. House is completely insulated with Rock wool and all openings metal weather stripped. Lot 64x127. Two-car garage. You will recognize real value in this house at *11,750. When may I show you this attractive home? WAYNE M. HARRYMAN _. REALTOR. LI. 2157. Irv. 6189.

F A 5351 Washington Blvd. Open SundayThree bedrooms and child’s sleeping room up. tile bath and lavatory room, carpets downstairs. Frigidaire. large breakfast room, screened side porch, oil burner, plav room in basement, excellent Interior finish. 64x129, 2-car garage. KENNETH P. FRY, Inc. 817 Circle Tower. LI. 2182. Hu. 1283.

lii.nlw.oit 3 Bedrooms up, 5 large closets upstairs. colored tile bath upstairs, tile lavatory and toilet Ist floor. Rvbolt hot air furnace, long living room. Bedford Limesto :e fireplace, breakfast room, dining room, tiled walls in kitchen, built in cabinets and tile drainboards. floors are dark oak tnroughout. 2-car garage. Near Butler University. Price $9,850.00 Payments if Desired* HOOSIER FUNDING CORP. J. H. ALBERSHARDT 316 Chamber of Commerce. _Hn_6l24__ Li. 7890.

MARCH 12,1932

FARM ROARD IS LIKELY TO FEEL SENATE WRATH Agreement to Consider 3Nominations Opens Way for Thorough Inquiry. By United Press WASHINGTON, March 12.—Senate wrath was loosed against the farm board and the Hoover farm relief program in general today, under an agreement to consider nominations of three board member*. The nomination of Frank Evans. Utah; William F. Schilling, Minnesota. and Sam H. Thompson. Illinois, have been pending for weeks. All three are functioning as board members, because they were appointed during a recess. But it has been the senate's pleasure to postpone confirmation for a bit—“to let them sweat a while”— as one senator expressed it. Administration leaders are confident the three will be confirmed. Protests of the agricultural west are less against the personnel of the board than against its policies, which tends to confuse some observers, because it was congress itself which created the board, and outlined what its policies should be. The debate today is a prelude to more serious business. Senator George W. Norris (Rep.. Neb), has obtained approval of the agriculture committee for a thorough investigation of the board, and of the grain and cotton trades. Senate opinion inclines to the belief that the investigation resolution will be approved. It would create an opportunity for revival of the whole farm relief discussion, including the equalization fee. the export debenture and unqualified federal price fixing of farm products. It would lead. also, to an attempt , to modify, perhaps abolish, the farm I board.

5425 N. Pennsylvania St. Open Sun. 2 to 5:30 p. m. Beautiful brick veneer: * bedrooms. 2 complete tile baths, center hall, lavatory on first floor, oil burner, water softener, instantaneous heater, social room and laundry. This home lived in just one year and in wonderful condition. Owner now living in New York and wants an offer. See or call ARGOS, Ri. 9389; Res., Hu. 2411. AMERICAN ESTATES CO. REALTORS 332 CIRCLE TOWER

CENTRAL AVE. In that fine district between 46th and Joan of Arc. East front, wooded lot. 90x300. 7111166 bedrooms and inclosed sleeping porch, tile bath, long living room, fireplace. full basement: 2-car garage. Every feature of this home Is in excellent condition. $3,600 loan, $14,000 price. Will trade equity for income property. C. B. DURHAM SECURITY TRUST CO. RI. 9484. HU. 4241.

5262 CENTRAL $10,500 Four large airy bedrooms, muter bath, social room, sun porch end other added features. Including very economical heating equipment. Large corner lot, 64x132. Beautiful trees and shrubbery. Two ear garage. Look this over and call R. E. Peckham, Ch. 6862 or Robert M. Collier, He. 4133. ROBERT M. COLLIER Riley 2285 605 If. Penn.