Indianapolis Times, Indianapolis, Marion County, 11 December 1949 — Page 49

(UP) ~= » athletic of« ted a report Kenneth L, h showed no nd In an ex-

1 of off-cam~

athletes.

named ProBreneman of ference dele- | College Athnvention and tion on three ents © to the

ecided to opof the Southind Southern three meal a for athletes nd the Southproposal for training table f a sport. 0 support an ed by Dart. prohibit ath~ ospective stue nent of trans r prospective \ the campus,

Schools

f his investi. overed Minne d Ohio State, A have wideemployment. ves also apee of Breneof Michigan of Wisconsin ce in the. eiifor the presle on propor8 granted to

that the rule, athletes can)s in a greater ie number of student body, ed on an inlead upon a

omps 5 Win -

Service +

Dec. 10—~Wa-. _

time of it as 's five romped | to 36, here s led all the ie losers their tback. a 30 to 11 ne victors dism balance as ected at least ob Delp got e losers’ high

Rose Poly (30) ans. { 0 kf lerson,{ ger.f

8 a DN DO WO DDD

r. Tom Baker

Races to Victory “al, Dec. 10 g, the odds-on a one-length 000 added El Tanforan—tensecutive vice

ld colt booted Bill Pearson, and one-six-to beat out iden by Johne

vas third in a uihi.

Endear, Charles

Octorora, Butler,

ACES; ot 11 Right Metal 118 . Cape Cod Jr, 0: Wily, Fosters South,

J-year-olds; 6 (J. Tam-

Ming: 3 years up: 5 J AIMMAro), 10 115 (N. Bhuk), 0 (J Regalbuto), n. Audible, Iron te Ro.

ing; 3 years up; HR. Lawless), 4.40, (M. Sorrentino), L113 4d cDerreat. Kings Pride, Count Howard,

ark

k; 3 years up: 6

1. 7:80. Also’ rauty, Sure Glide, ite, Bir Monte,

3 years ups (J. Cuimone), 6 (8. Boulmetis), | (L. ‘Batcheller), Aruca, Pal Cros I. GOrandps Max. 1 $101.80.

Ing; 4

8: 2-vear-olds: 6 . Culmope), 8.90,

{ 14 . | Flignt 114 (H, dy Kelzin, Jersey Bar, Blue Heart, ing: 3 years up; 109 d Bout): k 122 (E ain 108 i Early Winter, awn, Kings Lady, es; 2-vear-olds: 6 h Roberts. 15.40, Culmone), 3% G Rivera) i ery Ma igna 'Y, Wise Dame. *%; J-year-olds: 8 et p , Rol 0 130 (Church), Percivale, ‘Sabot;

vances: J years aceze [08° (N, Joo rfug 121 (R, Mee tver, "Artist Life, a4: 3 years upt. E+] (R, if rds eet 113 0 {

WwW,

perth. hy 6

move early. = SS Thiel, “schooled 1 scAréity by'he

' volume has hung on the|gections.

Real Estate |

Aw"

3 3 3 |

‘SUNDAY, DECEMBER 11, 1040

he Indianapolis Times

$600,000 Modernizatio

The Week in Bysiness— he Shopping Hits Peak This Week

Stores Ready for Big Rush of Gift Seekers

By HAROLD H. HARTLEY, Times Business Editor SHOPPING will hit its peak by the end of this week.

Heavier crowds will surge through store aisles. Shoppers will be out to finish their buying before the final stampede. The stores are ready. Stocks have been replenished. Clerks have been added so it still will be easy to buy. And, most important, the range of selections is still excellent. So far Christmas dollar

been trigger-quick in keeping up But reordering willl lower edge -of last year’s shut off this week. It will be too figures, off about five per cent. !Ate to get much in before But this probably is not in sales Dec. 24. units so much as in lowered Added to the money stream prices, the result of the January- will be some Christmas bonuses. to-September skid. These are usually distributed This wil be an all-out Chr.st- quietly, but they will be there mas with much gift exchanging, the same as always. ! and there will be as many tur-| As stores step up their tempo, keys sold, and trees lighted and manufacturing will begin to slow. decorated in living rooms as ever Factories use the holiday period before. And it's costing less. {mostly for inventory, getting the The stores have kept stock books in shape, and setting the replacements rolling in. They've|stage for the New Year. | * e eo. Helping retail trade this year has been Old-Time Spirit a Fevival of a healthy Christmas| spirit, the old-fashioned kind with real cheer and happiness in it. There will be more happy greetings, more church-going on Christmas Eve. It is this touch of human warmth which makes the season what is—our happiest.

This year there is less of “We |" : ought to give,” or “We have to War shortages, there was a heavy give,” and there’s more of “We pull on the tree light and decorawant to give,” That's real Christ- tion counters. mas. That's why the Three Wise. And on the Friday after Men bore gifts. . {Tharksgiving; there no longer Giving is'a way of sharing, and was much doubt about it. The done in that spirit, it becomes a stares could feel the first presway of melting human differ- sure of the heavy gift season ences; of rekindling old friend- ahead. ships; strengthening new ones: | Don't -sell this Christmas short; It is the season when we feel and don’t chop too many names good toward one another, {from your gift or card list. You The first tip that this would be may be embarrassed. a Christmas to be remembered) Everyone's giving this year, a came-—with—a heavy buying of little something to —friends-—and

Christmas cards. ‘They have to relatives, as tokens of the Sprit!

lof Christianity born in Bethlehem nedrly 2000 yeafs ago.

Hoosier House ing on their drawing boards what

may become the true Midwestern-type house. Up to now the Central States have borrowed from rugged New

Indiana architects are slowly evolv-|

England, the charm of the South, the climate of the west and even Old Mexieo for home design. : El T In the last few years their cre- io from the old two-story square| ative perspective has been con-home to the one-floor ranch-type verging on a type of house which without a basement. I meets the needs and satisfies the] put J. Frank Cantwell, the tastes of the Midwest. | guiding genius of the Home Show | This year it has shown up in |and the building industry in this| the competition for the Model area, has begun to detect a trend House to be built and displayed in Midwest homes which is 2 comat the annual Home Show in/promise between the one-story April. The design has been shift-'and two-story house,

Fits Land Roll it is the “split-level” house with short

stairs, yet with the security of an upper floor. It follows the rolling territory of Indiana, takes advantage of landscapes with picture windows. And it may become known as

the “Hoosier House.” . Mr. Cantwell has faken the 16 entries in the architects’ com-|

petition to Chicago over the “ye want to be sure in our| week-end. 'selection,” he said. “And we feel He will display them in the that we need the best minds in Palmer House for Chicago archi- the area to help us make" exacttects and will discuss them with ly the right choice.” John Mormile, architectural edi-| This is the Silver Anniversary tor of “Better Homes and Gar-|year of the Home Show, and the dens,” as well as the architec-|plans on paper call for an extural staff of the U. 8. Gypsum position which will put all others Co. — a lin the shade.

. If ‘you happen to pass a store Night Order-Taker window and see something you want, you soon may be able to order it, right there on the sidewalk. kes is a quarter. What sc eh order box has been installed experimentally in front of the Display Supply Co., 49% 8. Illinois St. by Ray Miller. . | Your words are recorded on Through the device you canitgne The next morning the store place an order with a store atiplays the tape back, fills the any hour of the night. All you do, der and sends it out to your is drop a quarter in a slot, step pouge with your quarter included. up to the microphone and state) The use of the quarter is obvi-

your name, address and what | you want, (Continued on Page 50, Col. 3)

Used Car Prices Down, Expect Pickup in Spring

Used car prices are reaching the bottom of the hill, They've been scooting downward since last January. They even) by-passed the pickup of warm spring sunshine, got a little tilt in| June, then whizzed on down. . The result is money in the pocket for the used car buyer. Deal-| ers are holding “sales” to thin out stocks, and as one dealer put it,

“We can save anybody $1000 on a '49 model.” in the prewar models. Some of the]

car lots won't be finance companies are shying) a BA the buyer much'away from them, making them longer, one dealer reported yester- hard to move. The result is bar-| day. He said the spring pickup gains, and plenty of them around] will be from 5 to 15 per cent. $400 to $600. Moonlight, Aumablics hove The 1946 models are losing] “Along about the time the DOYS 4) 0 “postwar” appeal and even| begin to think of moonlight and pos - poe and even automobiles, the prices move up,” they are going to the price chop-| he said. “But today the price tags ping block. are so low they're blushing.” Dealers report that used car| One of the biggest dealers said prices are sitting on rock bot-| priceg are the lowest they will be tom “They can't go any lower) for year, For the next tWO with new ear prices staying up,” months dealers begin to stock UP/one of the biggest dealers said. for the spring buying season, and| pp. winter season when older that puts prices up right away. |, 4 are hard to start often leads When spring comes the higher| =~, .0 t; trade for a later| demand lifts prices as buyers, ,.) some of the used car lots| scramble for the better buys. are getting this business.

Playing it Carefully Financing in some quarters has! But the man who buys his used shifted to 25 per cent down al- car before the first robin arrives though most of the dealers are| oe Mave wo save from 3104 to playing it carefully, sticking to/$ LAR hati uy’ 4 10¢ of) one-third down and 24 months to Bas0Tine.

RE rh cr pS «: Thrifty Sam Lists Hous:

too long to pay sometimes makes

the car depreciate faster than the|. payments come in,” one dealer gafd; “And we've found that the fellow who takes the smallest down payment and the longest, payment period often falls to take care of ‘his car. Then if it comes, back, we're stuck.” On most lots the '49 models ini tor. 100. : the Big Three are selling from| But thrifty Sam didn’t know $1309 to $1499. And the "48's are! this. He decided to sell his moving at $1099, the '47's at $949) house himself, and save the

and the "48's at $849. ‘commission. The real advertised it, and got re-

HOW DO YOU get the best. price Tor your house? » Through a realtor. And how do,you buy at the lowest possible price? You do that through a real-

1So You Want to Buy a Ho

Appraiser Saves Purchaser Extra Cash

uvse—No.2 ;

By Comparison With Other Current Values

Exterior, Interior Closely Inspected

TO GET YOUR money's worth compare your house inch by inch with other current values. That's what your appraiser does. And he has to be right. This comparison means more than eye appeal. Market price depends more on hidden values than on plain physical attraction, } The accredited appraiser is more qualified than the average buyer to check construction against today’s market values. He's assigned by lending agencies and mortgage underwriters to do this job for buyers who want to borrow, He's the guy with the eye on your pocketbook-—-to save you extra dollars today. - w ~ THE APPRAISER measures value of joists, girders, decking, corner braces, sap-discolored lumber, insulation, bracket lights and a thousand other “minor” items in the house you're planning to buy. He analyzes the house, interior and exterior, determines current reproduction costs and subtracts depreciation -before saying what your house is worth. In the case of a veteran whose “dream” is being constructed today, the appraiser makes three inspections to protect GI pocketbooks." The first check is made after foundation footings are poured. Structural inspection comes when the framework is nailed up a before plaster touches wood. al once-over follows complet of the house, If faults are noted in any Inspection, the appraiser writes to

the lending agency involved, the veteran andthe contractor. These parties cor-

rect eonstruction discrepancies” before final appraisel.--—- ~ — —— ~The appraiser acts as radar

- + . unbiased, factual watchdog. » » " LET'S APPRAISE the house you're going to buy. Say it's five years old, frame and three bedrooms. It's on a good street, utility improvements are in with school, church and shopping ' center near by. These enhance property value. What kind of drive to your

one-car garage? Concrete, black top, cinders or just gravel?

The appraiser takes out his notebook. The garage is frame with cement floor, frame gables, one window, plain hinged batten doors and composition shingle roof. : ' The good features are window and cement floors. Yard's in good shape, plenty of shrubbery. Entrance is made from a cement stoop into the living room. No vestibule or guest closet. Not too y Fireplace well centered and composed of red brick. Bour ’ the wall. Hollow or solid? Tt is important. It determines wa.. construction value.

» » r PLASTER DIRECTLY applied ‘on fireplace masonry will be revealed by a solid sound. This indicates “dry wall” construction and poor workmanship. A hollow, sound indicates air insulation space between plaster and fireplace masonry. This construction is tops. Space between “flue” and plaster is the best prevention against wall-cracking when plaster settiles or temperature changes. Check the wood work in the dining room to examine type of materials and finish. Look at the floor. What type of hardwood and how thick? How about windows? Weather stripping and storm sash are important. Picture windows with double glass and a vacuum pocket between receive high marks in the appraiser’'s notebook. Aluminum windows and marble stoops are de luxe. Flush panel doors also receive an approving nod over ordinary standard products. But they're more expensive.

~ » ~ YOUR KITCHEN has a linoleum floor and base cabinet and sink. What type cabinets?

| How about plumbing fixtures

and garbage disposal unit? Avallable storage space is an asset too. Bedrooms should each have closets and cross ventilation for average approval, Wall registers instead of floor types are the latest, Linen closet in the linoleumfloored bathroom is generally preferred. In the bath room, recessed. medicine cabinet, double wall brackets and proper stops on wash basin and tub plumbing indicate post-war materials.

of his time as possible, and gallons of gasoline “taking people through.” } .They asked him lots of

questions he couldn't answer, such as, “Where can I borrow

the money?” And “Who would -

be a

a person’ to get the title clear?” |

~ » . YOU SEE Sam wasn't a salesman,

apd he found out

With

- plies, too. He spent as much

No stops . . . bathroom plumbing indicates war-time products. There are no stop valves leading to faucets,

Smooth . . . floors and woodwork are checked for type of material and finish.

¥ #4

Two by eight . . . in the basement, the appraiser measures joists and determines if spacing is correct,

2 Po

floor

An eight-foot ceiling is stand-

ard in today's average bunga- wall

seeping through top of

<Jow. The appraiser measurts foundation. This by hand. A rule measure de- levelness of walls. notes inexperience. Heating plant is good and

Heat thermostat at “sitting” extras include water softener level means the builder followed and sump pump. advice of experts. Thermostats a = » register temperatures according THE ATTIC cappihg your to room position of heat eon- gne-story house is adequately trols, experts 233, constructed with rafters prop- : erly braced. Ceilings are insullated. Good. Outside, the appraiser notes bevel siding with 44-inch ex-

» THROUGH THE kitchen, we go down unboxed stairs into the basement to check: major house construction.

The appraiser reports some- p,qure and rock lath and thing liké this: Construction on. .ter inside. There 1s appears to include eight-inch gp. 000 100¢ and metal gutters

concrete foundation and footings. Walls and concrete blocks “10% course’ (blocks) high.

The top half block solidly en- of exterior of house to comple-

trenched against termite in- ment pencil drawings and writvasion of floor wood beams. ten description of the house. He continues: Girders are His rule-of-thumb pricing

steel “I” beams supported by pilasters (end blocks) and fourfnch fron columns spaced nine feet apart. (Columns should rest on 12 inches of concrete beneath the floor.)

» ” ” FLOOR JOISTS are spaced 16 inches apart across the girder. ‘The appraiser eyes the

means multiplying cubic space of the house by current market price per cubic foot. Extras are added to this figure. He then subtracts economic, functional

cost of needed repairs.

can tell what your house is worth,

Realtor And Finds That getting Bam: a better- figure for his house, but. stfll doing a lot for the buyer. He knew how to talk to seller and buyer alike. He got them together in no time, “And before Sam knew it, his house was sold and he got the money. He didn't know, and, didn't care, how the buyer

raised the money, or what kind of loan or mortgage. All he had

that good prospects were slipping through his firigers like grains of sand. Then, after several weary months, he “listed” his house with a realtor. And his troubles were over. The realtor already

had a list of prospects. He knew who wanted to buy Sam's type of houke. And he knew who had the money. . “The realtor went Ho work,

1 Two of their larger projects are says near completion. New elevators]

opposite wall to check for light

determines |

with spouts running to sewers, | The appraiser takes photos |i)... day business meeting along Willis Adams or Fred C. (Bud) Tucker Jr. vice-chairman; C. Scott

_- ~

n Planned In’. Store Fronts,

Lobbies to Be Improved

Property Managers To ‘Spruce Up" Buildings Here

Local property managers are getting ready to spruce up thelr buildings in 1950, ’

Real Estate— dr

Revival of GI Mortgage As Investor Lure Looms

Bankers Point to Really Investments P, As Likely Source of Good Income By LARRY STILLERMAN LOOKING FOR a good income? ak You might check real estate investments. 7 Mortgage bankers, anticipating an active real estate

market next year, are looking for estate administrators and women investors. :

A sample survey revealed that managers of Income - producing] properties will spend approxi-

mately $600,000 for Iimprove-| ments. { | Most managers of smaller

{ [rental units would like to join

{the modernization movement and do more than shine up name

«plates on properties they manage, Kets, notwithstanding.

| ~"“Rent controls are the biggest {block in our way,” several small rental unit directors explained. | They “point out industrial and| |ofice buildings are not subjéct to {rent controls, ‘Handcuffed by Controls’ | | “We can’t afford to invest more | {In our properties when we are (handcuffed by controls here,” H.| |H.. Woodsmall, eraltor and rental

manager, stated. Mrs, Marie {Hunter of the W. R. Hunter firm | lechoed Mr. Woodsmalls' senti-| iments. i

| Robert (Bob) Allison of Allison,

. |Realty Co. was an exception. His o. firm plans to spend approximately

{$20,000 in modernization and re-

. habilitation of three projects here.| .| “My rents are where t even if rent controls were lifted,” 7 |he explained. "So I'm going ahead.” :: i

’d be

New Store Fronts | Mast of his dollars will be spent

= for mew store fronts, painting. [roofing and redoing interiors. :

Of the- bigger

and hatches are being installed in the Consolidated and Roosevelt Bldgs. The Consolidated project alone will cost close to $175,000. Includes New Lobby The $100,000 Roosevelt project

in bold stainless steel,

colors. . Painting of offices in Klein Kuhn holdings next year will between $50-570,000.

timated at $50,000. New roofing and installation of heating controls will add .$3500, spokesmen said. Additional Comments The Times spot check brought these additional comments: Emil C. Rassmaun, Inc.—Painting, elevator repairs and installation of ASTRAIL tile flooring in the Holliday Bldg. No estimate. Spann Co., Inv.—Modernization of building, 5438 E. Washington St. including new roof, painting, new restroom and lighting fixtures, insulation. Estimate: $30,1000.

nt building, 36 W. Vermont St., complete interior including expansion from 12 units to 36, modern kitchens, new elevator, new fixtures. Estimate: $150,000. Office. building, Alabama and Washington Sts., painting, interior repairs. Estimate: $1500. Apartment building, 400-block N. Delaware St., rehabilitation of metal bays, ete, Estimate: $58000.

Sun Realty Co.—Contemplated installation of modern steel kitchens In 68 apartment units, Extension of annual paint and wash projects, No estimate. A J. Hueber Co,—Daily main-

also includes a new lobby trimmed | mark, marble, recessed lighting and spring-time bined cost of

—— ~ Electrical/in the conversion in two buildings is es-|

tainance. No estimate. —(L. M. 8.) “

Lenders point out investments in real estate, equities, and bonds provide “reason-| Sion of : ' of conditions of more than a gens able and safe returns. This | eration ago when individual ine type of investment isn't as vestors were heavy purchasers of risky as “high” profit stock in-| Mortgage loans,” Said R. O. Dem» Vestment and not as conservative "8 Jr. MBA president, a as hiding extra cash In the hol-| “The 4 per cent GI home mort low “bedpost--bull or bear mar- gage will be high on the lst with Its 100 per cent guarantee by .the The Mortgage Bankers Associ-| federal government and its ate ation of America predicts the GI tractive yield,” he said: “Invests mortgage will again lure individ-|ors are likely to seek this type ual investors into the loan fold. |investment, particularly with gov. In recent years, purchases of ernment issues selling at present GI home mortgages, as well as|Prices and many corporate bonds Rovernment-insured FHA loans as low as 2.6 per cent.” and conventional-type mortgages, ‘Mr, Demin bora 1: “The have been primarily by institu- development ill bo a one tional investors. Banks, savings/for the financial because and loan organizations. [it will expand funds a for

“We will likely see a revivalithe GI program.” Here's the one t r estate How It Works investment Yo Ip. of ren). 3 in your 134 per cent

Let's say you have $10,000 burning’ a’ hole A reputable investment house will invest your money to return

bank account. spproximataly 4 per cent on a 4% per cent FHA note. This = mo eet ir

by per oot -Potarn to service the and to offset

® by

Construction Soars fie, mf.

group two years ago. fh akg base. The index labeled 1939 as the “normal” and gave ft the 100

started oh rg lin : 1 44 #

Another trail entitled “eom- tires living’ floated ere for ee 175 and 200, the figures were 15150 | last quarter of 1948.

house features full Ale bath, rock lath and plaster, kitchen s J ep Ame ea emer Se cabinets, venetian blinds, asphalt va OF DUY It 2... 18

window frames, “marbelle” sills, these no basemen t, + one~floor gas refrigerator, stove, automatic houses from $6700 to $10.500

gas heater, aluminum sash, Jak VEE the resort town.

Building Owners,

and extra utility room. -Monthly payments:

Managers Meet

|with the organization's board of |directors, presidents of 58 feder-| |ated local associations, three gov-| |ernors representing associate members, the national associa-| [tion's executive committee and {secretaries of local groups, | - Reports by committee chairmen and national officers, adop-

and physical depreciation and (tion of program for the 1950 con-|nually and meetings from four to| TAC. ..". Jingle bells provided by

[vention In Seattle, Wash, and|

That's how your appraiser [election of a nominating commit- Dunn and George Buskirk of the|

tee will be made at main sessions, . = 8 l

His Troubles Are Over

to do was sign his name and take the check. It was that simple. ’

. . » A LOT of peuple have found this out. But they also have learned that the selling and

* buying of real estate is far too

complicated for the amateur. It's a worrisome job. To get it done quickly and without any tag ends to fuss about, most people in the real’ estate market have learned to - do it the right way

body profits,

All you have to do to inspect estate boom region. ; What's a fireman's home? Three

. ' Fireman Ss Home garages and a dormitory . . . poker tables and a brass rail for the kiddies? Nope, says the Cleve~ land Fire Prevention Bureau. k = The house just features fire resistant and prevention ideas. More asbestos ifisulation and fire-proof plaster are two of the main

features in the nation’s first Fire ome 1 and Flower 0 Show. next Chief's House.” i -

} | March. This special house will be| Wonder if the home.fs red erected as a major exhibit in|/brick ‘and supported by sus

the annual Greater Cleveland penders? North Side Realtors nominating committee Short Takes ite candidates for 1950 posts at their meeting this week. The uptown group will select officers tomorrow from the following: Warren M. "Atkinson or Fred T. Hill, chairman;

Padget or Hugh A. Teeters, secretary-treasurer; William L. B. Ww. Duck Jr., Russell Fortune Jr. or Forest B, Kellogg, any two for executive committee, . , » Ine] =" SmmmmenSs epee dianapolls Mortgage Bankers are|lY speakers ‘on’ mortgage probdriving to Increase their fold at|!mes.... Jack C. Carr was electAnihenaeum meetings. Plans are|®d & member of the North Side

also under way to hike member-| Sroup Monday. . . . IREB annual ship fees from $15 to $20 an-| Christmas party set Thursday at

six a year. ... Duff Vilm, Frank| Tie Co. +. . Fete appro-

IMA are trampiiig the hustings/Priate enough . . . Two of UTC for program material. . . . Most- Sihployees Won aitandance ETS 7 They were Fonnle Snyder and Mendel 0. McCarty. , . . David Woods of Ford Woods & Co. cited {as “always there” realtor at same problems to their realtor and meeting. . . . Holland: Johnson, let him do the work, use his | Alfred Campbell, Paul L. McCord, time, burn his gasoline. cat his [3.4 McAllister and Chester ¥. dinners cold, and make "the | Bailey” also prize winners at deal. {IREB luncheon. . . . North Bide Realtors sale of 1043 {units valued at more than $11.8 |millien so far this year. First function of new

They take . their housing

" » ” THAT'S WHAT realtors are for, It's the easy way, and the best. way. He gets the highest price to . get the best commission but he also gets the price down low enough to make a deal. oi

"om ip