Indianapolis Times, Indianapolis, Marion County, 4 June 1950 — Page 39
Ags. ent for
2.50
rns ice.
2.50
nile; nyl--ON= ay, ose.
2.50 2.50
y
“Hop Fght “back To their _class-| TtHi§ Vear will be almost double the
= Juow- to make things well enough; |drippy popsickle?”
The Week in Business— Campus Crowd Rosy for Jobs
181g Concerns are ‘Choosing 1
By HAROLD HARTLEY, Times Business Editor BUSINESS is expecting visitors, young, fresh-eyed and enthusiastic. They will tackle any job, with confidence, and take what they can.-get-in the-way-of- Wages: These are the college and high school hopefuls, most of |g them straying from the campus for the first time.
1t is not easy for them to get Jobs, and they never earn |} much money. Employers; ne ——.
ler “to Feconvert their produc won't take on too many of ini cash. r
them because, come fall, they The outpouring of college. ee
{prewar level, according to the The big corporations which Federal Reserve statistics, t have crews touring the colleges! Where there were formerly and universities in search of 600,000 aaded to the work forces talent already have looked over ‘each June, there are now between what Indiana has to offer, 800,000 and 1,100,900, And a good many young ‘The ncrease is due to the fact Hoosier graduates will walk right that veterans who have part of off the graduation platform into.their education paid for by the| good starting jobs. {government .are beginning «Hits New High The reports from Indiana Uni-/leave the schools in big numbers, versity, Purdue and Butler indi- this year. cate that the big companies are There will be jobs all right, but| not grabbing graduates right and|there will be plenty looking for| left as they did hack in 1947 and them. And a good muny young-| 1948, : |sters, especially those of high| Instead they are picking care-|school age, will fill in with those, fully, and offering the greatest highly seasonal jobs which are opportunities in selling. {part of the ice cream, soft drink| Some accountants anc engi-|and amusement industries. neers are being placed, hut indus-| “Ice cold pop . .. Hot dawgs| trialists indicate that they know. . And who'll have a nippy,
rooms. More holes,
The start . | here in May as the residential building boom skipped into its 15¢ straight month,
Industrial List
Net Gain Lifts : |
General Average |
By ELMER C. WALZER United Press Financial Editor + NEW YORK, June 3 --.Industrial stocks - outperformed the! {whole stock list during the past {week and closed at their highest! level since Sept. 23, 1930. The net gain in this group of) {2° full points lifted the general |average a few cents. But the other {major sections finished the week on small losses, the rails down 92| cents and the utilities down 17] cents in their averages, Transactions in the short week {=cut wy the Memorial Day holi-| turday closing to-| da; ee 1,418,699 - shares |aaily, a small rise over last week's javerage. of 1,366,765 shares for a {full week. Investment demand favored the ndustrial group. Corn products! land International Nickel ran up {more than 2 points each and| several others gained a point or p |more, {ncluding Allied Chemical, Time-Saver in Stock Roome=Manired Paul, (ef) parts man- |American Smelting, G4 sngral ager for John Ramp, Inc., studies a pew parts specifier which shows | JMotors, Standard Oil (N.J.), an exactly what part a car needs and where to find it in a jiffy. At the ; ht is Steve L. Zeller in" charge of the conference spowared by | Steel Issues Up - He Chrysler Corp. | - Steel issues swung forward late Not so many years ago Henry
60 Million ‘Again A. Wallace, foriner vice president, |
secretary of agriculture, commerce and share-all candidate for President wrote a book which, while it was not funny, got many laughs. The title of the ‘book was “Sixty Million Jobs”, was Henrys pleture of the bn And, unfortunately, employsed lan e expande merican the other economy, the: plenty ior all. ment Bgures are going Laughlin gained more than While many a stiff - collared t is ha is that we PO t eac business baron gave Henry's little pat 1s ) Pe more with! Non-iron metals also met de-| book the great guffaw, and called ogg wages but greater capita}/mand on the stronger price it “more dream-stuff cooked UP| investment in machinery. This is structure in that group. Interna-| by the White House kitchen cab-| perfectly sensible from a profit|tional Nickel spurted when its inet”, he has seen the 60 million] |standpoint but hard on those company boosted the price of figure long enough that he takes goo 000 new workers looking for| inickel by 8¢ a pound. It finished it for granted. {jobs each year. {strong. Kennecutt made a new And when employment falls Investor's Reader, published by very far under the 60 million | Merill Lynch, Pierce, Fenner, figure, the business man now be- and Beane estimates that we comes alarmed. {shall need jobs for 70 million by| We are hitting the 60 million 1960, and for 78 million by 1970. this summer when the farms take, ‘With the number of workers] on their seasonal help. going up and the number of jobs| Our real problem is the steady {going down, we either have to growth in the number of em- spread the work we do have by| point. The utilities did fairly] ‘ployables. Some 600,000 a year lowering hours and increasing 8 yell, but ‘one of them—Peoples|
are being added to those who | pay, or by finding, as we always] 'Gas—sold ex-dividend and ex-| need employment. Ihave, entirely new industries.
what they want now is sales pow- Jobs like that.
and sent to the President a bill] for a modified version of basing point system which the
tial to its marketing program, And that! U, 8S. Steel made a new high and netted a= point gain on the week. Republic and Jones &
Automobile issues had periods | of strength but not mueh activ-
‘Rails failed to participate and! several of them made new lows, {for the year. They finished the {week with net losses ranging, {from fractions to more than a]
lerage.. | Business Active
Business continued strong and] active, Iron’ Age reported steel
¢ dent in orders that had piled up.
ing ngs Automobile companies closed], {for the holiday and that accountled for a drop in production of cars land-trucks from 186,249 units in ithe previous-‘week to 147,914 this Chevrolet recognizes consistent ieadership right in its own {week. The industry is setting its back yard. The Indianapolis zone's leaders organization cited K. E. sights on record output for June. Reid, zone car distributor, for his 32 years continuous service with. ho atuction. dec we ot the Chevrolet last week. He received his Quarter Century Club watch Jr ——k tt was well above a and plaudits from coworkers. Left to right are L. E. Craig, zone | manager; F. A. Hoel, Flint, Mich., regional manager; Mr. Reid and MU NICIPAL ISSUES UP LF. Vollmer, Flint assistant Tegional manager. The club is limited | NEW YORK, Jure 3 (UP) — to employees with at least 25 years continuous service. Municipal issues scheduled “for Samuel Ww. Levitties has been elected vice president |
sale during the coming week agStraws “of Lane Bryant, Inc., in charge of the mail order divi- | grigate S12 T3810 Sompated sion. His background is 20 years of dress manufacturing and two the Daily Bond Br of New years as director of the consumer goods division of OPA. He's also ? onthe Lane Bryant board.
A SSRs
York disclosed today.
PLENTY OF SHOES will be on {display in the Hotels Claypool! land Severin today through Tues{day. It's the three-day showing: {of the fall styles to the Indiana | Shoe Traveler's Association. INLAND STEEL CO. last week | completed instalation of a $6 mil-| {lion coke battery -at the Indiana 53 Harbor Works; -part—of -an—-stis1~ imated $125 million post-war spending program. | TOM SELMIER, head of Franik| {Selmier Towel Supply, Inc., got a| {testimonial plaque when he re [tired as vice president of the| Linen Supply Association { America. - { Perfect Circle Corp. secently {declared its 93d quarterly divi{dend in a row. It's 20 cents a {share payable July 1. Perfect | {Circle has never missed since its | _|founding’ in 1938. ° { AMERICAN OVERSEAS ATR-| : " LINES has upped over-Atlantic {passenger spacé 27 per cent, and | lean now carry 1090 - overseas (weekly, and they -all get free meals and drinks, “Carrying free meals and Ch
of
Samuel W. Levitties Lane Bryant v. p.
and sturdy role of home seller the recent sales completed, this
Hear Harold H. Hartley with *The Human Side of the News” on WISH at’ 3pm today.
the Circle Realty Co. for all those people ought to be
quits a load, i. itself. Harvester Co.
Rate Greater Than Ever
— eis > == "IFriday when the Sénaté passed day by city and county building the:
steel industry regards as essen-|
high. ~~ aa
{rights and brought down the av-|
buying in-a frenzy and the steel | industry worked right through the| .<- holiday in an effort to make aj
It turned‘out a near record pro-| duction of ' steel ingots and ecast-!
Real Estate Activity Moves Along Briskly
ty 4814 E New York St.
‘Real ‘estate activity here continued to zip along in its steady. £
by Miss Minnie May Thayer to | The transaction was handled by D. F. and Carl Ritterskamp of Miss Thayer is associated with StewartWarner Corp., while. Mr, Kocher is a machinist at International
THER pePTorma
By LARRY STILLERMAN, Times Real Estate Editor
Building Officials Conference, of America, Inc: And ‘as delegates they'll
work over a-code makeup fostering nation-wide adoption of ms “tegulations to insure better buildings for bhetter| living.
Taking shape . . . More units, like his were filling up the holes and the in needs of more Hoosiers in Marion County than | ever. before.
City-County Construction
dwelling foundations, were dug
Statistics Show 791 Dwelling Units ‘Summer Decline
Started in May, Beating 1949 Figures | Vacation Exodus
Despite upward price pressures, residential construction here {moved merrily along into its 15th boom month. Causes Changes ‘Home building in the city last month picked up where Aprill Summer vacation began creepdipped under 1949 monthly highs. And in the county, cdntractors/ing into the number of apart. smashed records for the second consecutive month. iments available and wanted by Together, the figure indicated more ‘homes - for more buyers Hoosiers seeking shelter in ‘Inthan ever before. It's a ©oD-|3i8 nit Shoreland Towers at dlanapolis. tinuation of a boom that began 3710 N. Meridian St. a nine-story| This was reflected In statistics lin Mareh, os. budid Slt {Lippman Brothers’ project. lon the apartment scene here last e local bullding picture) wo. ..p0r of starts last month] month compiled by the Real more than reflected the tremen las 81 more than were begin in| Estate ‘Board,
dous construction effort through-! May, 1949, the boom year. The! The report issued yesterday by
{out the nation, {Miss Pat Williamson, Board staNational reports said the. cur-| valuation was also $465,000 mOTe | tistician, showed seasonal dips in
rent buying binge—and they callign the month-to-month sormparl- lavallabilly and “wanted to rent” it a binge—revolves about the! | son. {according -to newspaper adversolid items. Those are homes, Laat month's starts were 23 tisements during May,
heusehon furnishings and UO inden the-mimber-begun-in-Aprit;+-—This-dip-was attributed to the]
(but the dollar value was up $100,- {summer exodus from dwellings But in Marion-County, the most o00 in May. And April, while here to out-of-city vacation sites,
{money is going into new homes. | igh, was under the peak spring bY William 8nethen, Apartment And local builders are calling this| {building starts a year ago. Owners Association manager. a “boom” and not a “binge. | In the first five months in the) . 427 Available “It's solid buying, not frivo-i.4y there were 1830 housing] The statistics showed there lous,” said one contractor, “Andisiarts worth more than $9 mil- were 427 apartments available it's big, because the market 18), -1 a compardble period last and 520 asking for shelter here {still here and people still want|year pyjlders dug foundations last month. A - breakdown of {good homes, new homes.” (for 1270 units valued in excess apartments offered showed 164 Realtors also reported activity of $7.9 million, |good units ($50 and over), 228 on the resale market in existing] Tne county record-smasher last| medium ($30 to $50) and 35 units residences also mirrored the cur-|,....+y overshadowed the building renting for $30 and under: {rent -and- continuing boomin new mark set in April by 27 more| Miss Williamson (building. starts and $200,000 more in dol-rental units were fast disappear. The: statistics. released yester- pr vatge
May's - house ground-breaking Ditting the ebb point of the year.
officials showed: lalso nipped the number started ONE: There were 0563 dwel- in May, 1949, by nine units and
ling units valued at more thanic,oo0; | Building worth. - Realty Course $2.9 million started in the city] “It’s the biggest we've ever had
ig Bi A were 228 dwelling outside the city,” said County OPENS June 19 units worth more than $2 million Commissioner Ray Fisher. “And | started in the county in May. The city figures Y ewes the [luxe range—$11,000 to $20,000.” units scattered among 292 single Totals for periods in both years/ Northwestern University’s rawellings, 13 doubles and two do not include 22 other incorapartments, the largest being the {porated towns in the county, Mr.|
- | Fisher said. Adding these res For Women Only
. CARO campus,
prominent {dential starts would hike figures |another 70 starts worth approxi {mately $400,000 for each year, 3 Here's the chart: =
| i t INDIANAPOLIS May, 1050 May, 18 a | Starts i Ja hits 482 units Value 30,700 $2,471.300 Five- Month 200 son 1086
. 13%0 units 1270 units | ’ 35, Re $7,002,240 MARION. COUNT i (22 other incorporated kL omitted) | May, 1949)
: relating to. mort-! gage lending and
Dr. Weimer, dean of the business Starts Value University.
i Speakers and | Start 2 2 Dr. Weimer arts Boanits 30 units curriculum for Five: Month. Comparison the session was disclosed yester-| Starts 12 unit on its day by R. O. 5 - v Value $6.700,0% 50.35 y Dy Deming Jr: pres.
ey _#250.350 jqent of the Mortgage Bankers | Association of America, sponsors.
B. M. Ralston Agency of the course. The course will continue
n- New Location through June 23 with morning { The 60-year-old B. M. Ralston and afternoon and some evening | Agency is now operating its real sessions scheduled, Mr. Deming estate, rental, lending and insur- sald. ance business from suite 525 in
{the Indiana Trust Bldg. Agency partners, = James G. Warn Publication
[Walters and °L. J. Tucker, an- Not Sanctioned need jnounCe yesterday the opening of The construction industry here
(new headquarters. The firm moved from offices in| Iwas warned last week of solicita-|
i
Mrs, Flora Tierney
Hoosier women realtors will take a peek into the plans anditpe Morris Plan Bldg. Thursday tions being made by promoters,
policies of the Womens’ Council of the National Association of Real Estate Boards this week. That look will be made through the eyes of Mrs. Flora Tierney, president of -the Council from
after more than eight years in that location. No change in per-| sonnel resulted from the move the agency said. :
by building organizations. The warning was issued by! the Construction League of Inrdianapolis.
AGREE MENT RE ACHE D League Managliig Director Mar-
K shall D. Abrams said. “certain z EE will speak before. dune 3 (UP) “Private - promoters are s0F i RCA Victor “div i R fhe women brokers at a luncheon-| 0 vision of adio lic iting adveftising fn a publl-|,
Corporation of America today announced that an agreement has been reached for the development
cation which will purport to contain a digest of the. Indiana Building Code.
meeting at noon .in- thé Warren Hotel Wednesday. Besides Coun-
cil activities, the national leader of a multiple television and broad rp ton ti - This publication is not sancwill tell what other women real- casting system atop the Empire tioned by the League, the office tors are doing to spark ‘sales State building here which wouldiof the Director of the Adminis-
throughout the country. [result in better reception for milHer talk here was arranged by lions of TV-owners in the metro Miss Eileen Klaiber, local realtor. politan New York area.
trative Building Council or the Building Commissioner of ‘IndianAbrams: said.
apolis,” Mr,
Apartments Show Cece...
said tower e
[ing from the market, May's 35!
The third annual five-day ses-| {most of the starts are in the de- sion in real estate financing and! | Investing will open June 19 at| Chi-|
Among 21 lecturers who will - discuss topics
Will Be Keynote ; This theme will be the keynote lof welcoming addresses at noon) tomorrow by Mayor Feeney ‘and; Bacon, city building] big: man with BOCA and chairman of the convention. | Highlighting the first BOCA! convention here in 30 years, delegates will indorse the presdentaition of the first printed copy of the new standardized municipal building code. The book will be presented to Albert H, Baum, conference president and chairman of the basic code committee, at a morning business session Wednesday. Mr. Baum is St. Louis building commissioner. The volume, “The Abridged Building Code” for smaller cities, represents five years of building code study by BOCA officials and technical assistants from the National Bureau of Standards. It stipulates use of material performance tests rather than
regulators. It is this code which the BOCA is pushing for uniform adoption
A
|
i
The |
conference committee member rs.
| Storie
throughout the country, The par
~The men who determine a towns make-up will meet fl here tomorrow to do some verbal “facelifting.” They're the top building officials of the country, oh planners of city growth in. concrete and lumber... They'll be meeting for four days in the Claypool - Hotel as delegates to the 35th annual convention of the
formance codes have been advee cated by the U. 8. government
since 1920 and has recently been
adopted by national bullding ore
listing specified building mate- apolis rials, now -used-by-most building
ganizations.
wdbelegates ~and-officials-of- “the
|coriference will study the latest {In construction materials and ene | forcement problems,
Insurance Discussion They'll also hear talks on ine surance regulations, fire prevens tion and federal building pro grams, The latter address will be given by J. W. Follin with the
|General Services Administration
of Washington, His talk will cap the convention on June 8, But the convention won't be all cigar-room talk. The delegates and their wives will tour the Na» tional Homes factory in Lafayette Tuesday, and view current Indianapolis construction on Wednesday. In fact, a woman's program has been set up to include fashion shows, theater parties and luncheons while the men talk and inspect displays. Alding the Commissioner with convention plans were Bert J. Westover, BOCA secretary and director of the Administrative Council
er
Indiana Real Estote— |
There's No. Such Animal as 'Modern,' Architects Say
They Call Style ‘Contemporary’ or ‘Current,’
Also Frown on ‘Ranch’ Designation : By Times Real Estate Editor Don’t say “modern” or “ranch house” to an architect. He'll jam his T-square right down your “modern” throat.
ithe “modern” style day after tomorrow, when the “modern”. home
{is two days old?
Time and style are current, contemporary, not modern, the
rarchitects witli "tell you.
ream —————————
And that “ranch house” that's! that are making the builders see
{what's on. a ranch. house spread all over one floor
is “contemporsry” or basic floor rambler, they BR tell you.
THIS “modern” and/or temporary” idea is ruffting architects’ feathers.
of a publication not sanctibhed and low slung. This type of house whack off buflding one- erecting their own homes,
ae 8 not the {blots on the landscape,
Too many amateurs, hoping to dollars by are losing both the dwelling and the bank roll.
It takes skill in’ many phases of home construction to put -up that’
‘eon-1
EA
Poiey H Here ols-Gpenr—
Presentation of Standardized Regulations Will Highligh#5tl Convention
sree Tre CRAP
ve
planners . . . George J. Ayers, Charles E Bacon and x Tu investing will be, Marshall Abrams clear the decks for the building convention opens Arthur M.| ing here tomorrow. Bert Westover and John V
_Too_many. home planners. be- dr¢am palace without professional
Heve they can hatch .their own DelP.
Too few outside the cone
“modern” home sans professional struction field have these abilities,
touch. “It's true, Caleb Wright.
“exclaims George|
“You can do darn eyesore, most of the time.
" ” ” AND thé result is a residential The
near anything you want to the rest of the time, the builder is
architecture.” Architect Wright, middle man in the firm of Vonnegut, Wright and Yeager, went on,
“contemporary . .. I said, con- | temporary . . . architecture is freedom in plan adjusted to
meet the physical requirements
of site and living habits of the |
owner, “But, home planner: shouldn’t| {let this idea of freedom from re~|
| i
| | |
called in to salvage what he can of the home already started une . der inexperienced, build-it-youre self- hands. Sour grapes from. builders? Huh-ub. They're not losing any sales to the aspiring owne er-builders. Just look about, The projects and the on-con« tract jobs are all around the town. : It's just a word fo the wise
stricted styles of the ancients re- from the boys who know.
{sult in neighberhood eye-sores,’ {Mr., Wright warms,
| Architects, Mr. Wright
{opportunity.”
"From Washington, Too FROM THE W
a
The word is simply there's more
¥# | And that means making serv- nation, some $20 million in Mare
6039 Kingsley Drive. ~PKi4 snug two-bedroom bungalow was purchased last week
and finder for Hoosiers. AmMOAE yy Mr. and Mrs. Henry. Devaney from Mr, and Mrs. E. Bruce
two-bedroom dwehing..was sold Mr. and Mrs, Join A, Kocher. Butler ‘of Fieber & Reilly, was among major deals for the firm
ment at Allison's.
Stockberger Seastions Co. Geary rating equipment), wv
Ei ad oh mt We
McBroom: The transaction, handled by Walter Eaton and Noble -
last week. Mr. Dev aney is in the experimental engineering depart- | Mr. McBroorh is employed as a salesman Sr the planning stage. ah 188
{can afford, Mr. Wright says,
run. .
Ditto the Builders
problems as the architects. i
the.
iices available to the home plan- -ijon County. _ |ner in the pocketbook range hé|
And it's just as important to
make existing dwellings more of + “It'll save our fees in the long & Sood security. more sound eco~
THE BUILDERS face the same, 3
But their ulcer-maker is Brent eri Al
. and our profession, too.” nomically 28 to 0 erect en
ects,
THIS WARNING: comes trom ames W. Follin,
neler - " WRITING Tn the current bul- comes this advice addressed to {letin of ‘the Indiana Boclety of the builders.
urther| |warns his fellow-practitioners: “In! {to property values tham a new | ‘modern’ the bars are down andiclump of lumber and stone for a unless the architects can find new house. It's the replacement their way into this modern home market, modernization, remodels building era, we will have passed ing or whatever the tag. TTT lup a serious obligation and a real’ There's some $3 billion A {into sagging values around the