Indianapolis Times, Indianapolis, Marion County, 9 April 1950 — Page 40

JY ol

their fields.

The job statistics of th

Farmers Move In

factories. At the same time, ap time jobs decided they'd better d

ployed. The weekly business statistics are encouraging enough. Steel operations made a quick recovery and have climbed to 96.8 per cent of capacity. Automobile output, even with Chrysler out of production, was well above last year. When Chrysler resumes, assemblyline totals should climb to higher levels. Building contract awards are ahove a year ago. : Electric power is 10 per cent higher than last year, and carloadings, because of strike-de-

Curve Bal

something about spring planting.| pleted coal stocks, are This -vacated jobs for the unem-

ing this year,

HS Er. To Farm Labor Shift

= Adverse Weather Still Holds Up Business; Industry About Static

By J. A. LIVINGSTON THE UPTURN in employment, or rather the downturn in unemployment, jn March is no cause for a parade. It's unfavorable, yes.. But only in the sense that no deterioration set in last month. At the moment, it ean't be said that thé usual spring rise in business is under way. Agriculture, not industry, accounted for the rise in employment. As winter stole the number of persons in facaway, farmers moved into ruary to 57,551,000 in March. But ; and non-agricultural occupa- . ~~ {tions increased less than 150,000! Census Bureau require interpre-| from 50,730,000 to 50,877,000. The| tation—analysis. The total num-ireal gain was on the farm, where, ber of employed Increased about employment ~ rose 452,000—from | .800.,000—froru . 56.953,000 in _ Feb-i6,223,000-to 6.675000:

jtories,- service industries o; other

A double shift occurred. The census sample revealed that many persons] out of work in February found jobs in March, notably in construc-| tion, which normally expands in the spring, and in trade, where the! early Easter caused stores to take on sales help, and also in some parently, farmers who take winter-!

best levels 1949.

since November, |

“4

"You figure it out.”

worries. - » »

The early Easter continues to Real Estate—

disappoint retailers. In the week ended Apr. 1, department store sales were unchanged . from a year ago. gain of at least 4 per cent would {be necessary to say sales held their own with last year. March sales were down about 1 per cent from last year and about 2 per cent (on a seasonally adjusted basis) from February Only heavy demand for home furnishings, as noted in this column last week, saved the month for merchants.

Clothing -merchants have taken a double lick. : Baseball weather. prevailed dur“ing the winter months in many parts of the country. That cut down | __ sales of overcoats and heavy clothing Then. just when. the crack of the ball and bat started northward, the weather turned errat-

ically chilly, delaying sales of Easter toggery.

The competition for the con

household - equipment, new homes-—accounts ~ as

the weather. The plain fact of life is that a

Neither production, employ ment, nor sales are rapidly ex panding. So the total sum avail

sumer dollar—the boom in sales goods. ~of--gutomobiies;- televiston sets: account for-$1,262,000,000 of that and even increased $1.9 billion in the last much! year. 1 ’ for the Easter sales showing as

Automobile sales, alone,

Hard goods lend themselves {increase,

toi. . More than 50 per cent/with the big details and responsi-!|

Knight Lets Boy «Managerial Duties of Firm

ves Fr: M. Knight foot on des] at the | Mead (left) and Harry work out a major realty detail. The

be i &:

Frisky Realtor Decides Maybe He'd Like To Take a Vacation Now and Then

By Times Rea

boys.

slow down a bit.

Last week he turned over managerial duties of his thriving

real estate firm to his two boys, Mead, 30, and Harry, 35. But, F. M.'s not quitting. Not (BY a Fou ttoy. ¥ ll “I'm not retiring, far from it,” he said. “It's just that the boys are going to take over more and

s OLe..0f. the details. of the. busi-

ness ’ | “I'm. still planning to work on |our subdivisions and investments . even handle realty sales. But

THE BOSS relaxed last week, but it meant more work for his

1 Estate Editor

and Harry, a member of the' {company since 1947, signed part-| (nership papers to head the busi-| SS ‘ : f

ness. i And the boss relaxed.

‘Hail to Old IU’ INDIANA UNIVERSITY is one

today offering a major study of

| administration. :

coal,

After 37 years as a bustling realtor and builder, frisky and whether the water's hot enough fiftylsh ¥. M. Knight swung his feet atop his desk and decided tolin your apartment are going to

~ [the In |ers’

“Apartment Owners 5 Toke Diver ‘ Install Officer

studies a "minor os boys, Knight brothers took over the. boss'

Paul Coen to Begin

3d Year as President |

Industrials Come Within Less Than 50c of 1946 Top

Financial Biter ' NEW YORK, Apr. 8 (UP)— Stocks reached their best levels in 45 months during the past week and all but hurdled the last barrier to the 1830 levels in the industrial average. Industrials came within less than 50 cents of their 1946 top which in turn was the best since September, 1930. Utilities were near their best since 1931. Rail.iroads joined the advance but were below their high since 1948. Trading increased as the last hurdle to the giant markets of

proached. Investors bought heavy in high-grade stocks, favoring the chemicals believed behind the market, Investment trusts also were reported buying these issues on reports the government plans to add strategic chemicals to its stockpiles of war materials.

_ Chemicals Pace Upturn With the chemicals pacing the {upturn on Thursday, the whole in- | dustrial list joined the forward movement with new highs i {such issues as General Motors,

{U. 8, Steel, and Bethlehem Steel. Demand spread to all top-rank-ing issues and finally spread to

The folks who worry about the the more speculative shares where

Biggest hand will go to Paul Students there may major in/Coen, who begins his third con-

the faded wallpaper and televisions took the spotlight.

Speculative buying came into many low-priced issues such as equitable office building which in

Heyden Chemical had a giant

Association will hail their/sues fireworks of the late 1920s, |mew officers and directors. ! “The occasion “THe AS8GeiationsT™ annual Easter installation party

Aircrafts. Active........

45 Months

late 1920s and early 1930s was ap-|

: Cattle Receipts

Consolidating his foothold in the local home market, John A. Darlington has added two experienced brokers to the sales staff of his firm, the Darlington Realty Co. They are M. E. Joachim and J. H. Fisk, salesmen with more than 15 years training in Midwest real estate centers. Mr. Joachim, with more than 24 years experience in the Chicago realty market, headed his own brokerage concern for 15

perience in the booming Cali-

In Sharp Decline

| CHICAGO, Apr. 8 (UP) — All | livestock receipts were sharply

{take time out this week for a ne Tyesday session had a block reduced during the pre-Easter| little roast chicken and canasta. of 33,000 shares. And between nibbling Neapoli-| | : tan ice cream and re Carrer late in the week. Radio| Cattle recéipts were the lightest térday said Lady Realtors’ Day about. Pent eontrels. members of; Corp. topped the whois:market in! fOr. any. week 80 fa Pde e dianapolis Apartment Own- turnover, reminiscent of that is-| Most numerous were high-medium | 'uncheon of the IREB:

{week and prices were fully: steady Ito ‘$1.00 higher.

this year:

{to good grades of fed steers which continued to predominate.

yesterday were fully

steered buyers to the building sec- steady to 50 cents higher. Cows tion where American Radiator were strong to 25 cents higher. {featured in activity. Aircrafts en-/ Bulls were 25 to mostly 50 cents

tiof the passenger cars are nowbilities going to Harry and Mead, | real estate leading to bachelor secutive Teh this Year Ba De | joyed a good market on prospéts higher with spots $1.00 higher on

-118 | portion of two-thirds.

-| To maintain sales today auto! able for spending at retall nodealers are dipping down Into the OWN firm since 1928, started as ment,

longer is expanding rapidly. ener income bracket.

consumers buy hard goods there's

People who got cars a year or

the moment the economy fs static. sold on installment credit, which|maybe I can take a vacation now approaching the per-war pro-/and then,” he said.

MR. KNIGHT, operating his

{broker in 1813 with the Marion Trust Co., forerunner of the

that much less available for soft/two ago--in' the first mad rush Fletcher Trust Co.

goods. The consumer preference

for post-war models usually had

The emphasis on

installment sale credit, which has! lower-priced, stripped-down modInstallment credit better than soft! els tends to corroborate this,

Workers Better Off

80 long as employment continues at its present level.

stabilizing business influence In manu-

facturing, weekly earnings during February climbed to an all-time high at $56.37. That on a 39.7-hour week. In 1929, the weekly wage was $25.08 and the work week was 44.2 hours.

The worker today is about 668 per cent better off in purchasing power than In '29, despite the rise in prices since And, of course, he has more leisure. He works 40 hours now, as against 44 hours then.

Robert E. Houk Joins Realty Staff

The F. C. Tucker Co. added {more youth and salesmanship to

“Real wages” have been climb- its realty sales staff last week

ing moderately but steadily ever since the post-war reconversion drop in 1945, and today amount/ to $3386 in terms of 1935-39 equivalent

prices. (The 1920 would be $20.43.)

At present, with living costs showing declining tendencies, because of lower farm prices on the one hand and increased competition for the consumer dollar on the other, the buying power of the pay envelope should con-

tinue to expand.

when Robert E. Houk joined the rm. Although this {is Mr. Houk’s } | first dip into the redl estate business, he has been’ baptized In salesmanship with the Associated Service Corp. (petroleum products). The Hoosier was associated

Mr. Houk

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from DePauw University in 1042, Born in Moreland, in 1920, Mr Houk received his public school education in Alexandria. He lives with his wife and son in 5842 Kingsley Dr.

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and skipper of sub-chasers in the!

Smile at the weather } SE : LITES T

Soe our display of the Home Show, |

| Following the first World con-

for|loose cash. Now most car buyers flict, he joined Gregory & Appel, [essor in real estate. autos and appliances is abetted by have to borrow.

Inc, in 1918. He was associated with this North Side realty firm for 10 years T Then he returned to the Fletch-|

High weekly earnings are a er Trust Bldg., where he opened Institute of Real Estate Apprais-

the firm that still occupies suite {700 in the building. | On Wednesday his sons, Mead, {Who's heen with the firm for 12]

Sales of 37 Homes, Lots

North Side Realtors Report

and advance degrees in business

{they may follow a concentration Pit of dwelling. Other Officers

{in finance, accounting, manageinsurance, | transportation . ... ”

the school of business and pro-

One of the nation’s outstanding students of practical economics, Dean. Weimer addressed the regional meeting of the American

ers here Friday. His conversation and letter to this column early last week recti-|

New officers to be installed are week, throughout the nation, ac-| rs. Helen J. Gibson, vice presi- cording

dent, and Mrs. Callie Cotton, sec-| Record. | osetati retary, and Leo Bures, A. R. Halll The civil contracts totaled $304 PCt21IONS:

dent of the people who make

{real estate “in the same way that|2Partment living a more Pleasant! ment for aircrafts. Airlines held|and stock cattle were steady.

(well, :

marketing, Besides Mr. Coen, Who runs ges sf . . a y g 3 iT. A. Moynahan properties, other, Civil Engiesting | "his was pointed out yesterday officers who were re-elected last ill Gai by Arthur M. Weimer, dean of month .and who will be installed Contracts Sti n are D. J. Zimmerman, vice presi-| dent; H. H. Woodsmall, treasurer, ! and 8. C. Bodner, counsel.

Times Special | NEW YORK, Apr. 8-Civil (engineering construction .con-| “tracts continued to climb last]

to Engineering News-|

lof higher spending by govern- heavy fat beef bulls, while vealers

Advances on hogs also were forced by curtailed markéting with a slowly declining trade, On the first three days, prices grad-

{ually moved higher as salable {supplies were held below 8000

hogs. There was a marked reaction Thursday when about 9000 were available for sale, but the closing session again advanced prices when receipts fell below trade ex-

and Brooks H. Lloyd, directors. million for the five-day week end- HOUSEHOLD CLEANING | Re-elected directors up for in-|ing Apr. 6. This was 18 per cent| Simplify household cleaning by

« " i { ded Mar. 30 and| sing t alvanized steel pails. fied an “honest 5 t stallation are Isidore Feibleman, above the week en using’ two g Pp |years (except for air force uty) ore deo heal enon | Davia T. Nicoson, Robert Brom-|17 per cent above the comparable|rij} one with soapy water and

Sale of 37 homes and lots last week was reported yesterday

{within five of the 1950 real estate in March. . . The high mark of 42 week ending Mar. 4, association officers said. | ‘Their list, submitted to the In{dianapolis Real Estate Board for {computation, included the follow{ing transactions: Willis Adams—129 E. 36th St. Joe Berger—5831 Ralston Ave. land 1210 Rowin Rd.

| | W.L, Bridges & Son—Lots 126

with the Independent Ofl Com-/and 107 in Sylvan and 24 in Brock-{dolph St, pany for more than four years ton. Property at 427 Forest Man-| after shedding his Navy blue Injor and 501 W. 44th St. The latter ington Blvd,

was a cross-transaction with Bruce Savage Co. | Butterworth & Teeters in Westfield Heights. |* Jack C. Carr—854 Tuxedo St 2355 Durham Dr. 215 N. Summit St, a lot at 64th" St. and Allisonville Rd., 129 E. 36th St. 6251 N. Delaware St., and 40 acres in W 106th St Driscoll Realty Co.— A house in Carmel, Ind ‘ b. Fieber. & Rellly753 De Quincy St. and 6021 Winthrop Ave.Russell Fortune Jr. 631 Range Line Rd. in Carmel and a lot at 7600 Washington Blvd. The latter was a cross-sale with Harry L, Robbins Realty Co.

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stalled as AOA manager. A dance in the Travertine Room: ill be held after the dinner.

Gerdenich Realty Co.—1328 W GAIN BETTER VISION

27th St, AH. M. {Tacoma

Graves, Ine.—-3201 N.

{with Joe Berger. Gregory & Appel—407 dubon Rd. and six lots in Orchard | | Hills. { | Hall-Hottel Co.—143 8. Ran-

Fred T. Hill Co.—4702 Wash-

| F. M. Knight Realty Co.—1616 Rembrandt St. Harry L. Robbins Realty Co.— Three lots in 7300 N. Meridian St.

The Spann Co., Inc.—Lots 55°

and 56 in River Heights and Lot! 85 in Irving Ridge. F.C. ker Co. 1015 E. Wash- | ington § d 3601 N. Drexel Ave R. E. Walker—Lot 33 in Arden] and 5448 Haverford Ave. The lat-| ter was a cross-deal with E. .E. Brodbeck.

Fundamentally, a solar house Ave. and 1234 Nicholas is a house designed to attain Rd. The latt , _ more. efficient use of the sun for| q Ihe lalter was a. cross-salely and natural daylight, and Ss Au- to achieve better vision for the : |occupants.

{iley, F. R. Buck, Charles R. Fant, week a year ago. R. A. Franke, L. Russell Newgent, | [Glen H. Munro, E. A. Kirk, R. B. struction, public and private, in|gater J. Twiname, the first 14 weeks this year was — ~~ [Charles Porter and Robert Ker- 41 per cent above the correspond-| ‘shaw. William P. Snethen, the perennial hard-working executive be-| The transactions completed for the week ending Apr. 1 came hind the association, will be resales record set by ANSR brokers in

Cumulative total in all type con-

ing period a year ago, the report showed. :

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fornia home selling and buying field. : Hel, A native of Illinois, Mr. Joschim lives at 2036 N, Delaware St. with his wife. He is 44. Mr. Fisk, formerly with an Omaha, Neb., real estate company for 15 years, joined the Darlington firm after a brief association with the Spana Co, Ine., last year. Born in Aurora, Ind., in 1898, Mr. Fisk now makes his home at 6106 Primrose Ave. with his wife and daughter,

Lady Realtor To Have Their Day Apr. 20 fie

THE ladies will finally have their day . .. in two weeks. F. C. Tucker Jr. chairman of the Indianapolis Real Estate Board program committee, yes-

(Will. be..observed at the Apr. 20°

congressional post, will speak on “My Observations in Finland.” ' Meanwhile, next Thursday's IREB luncheon speaker will be Kenneth P. Vinsel, executive vice president of the , Ky. Chamber of Commerce. Mr. Vinsel will address the realtors on “Urban Trends,” Mr.

{Tucker said.

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