Indianapolis Times, Indianapolis, Marion County, 18 June 1950 — Page 41
as
hess here are letting ber Father's Day, Mary while L. H. Lewis gives i his attention to daughter Mira (right). - the year, it's papa who's boss.
~The Week in Business—
‘Fear Talk’ May Check Prosperity
_Signs of Slowdown-in-Furious Pace Beginning to Appear
“stack begins to sway and totter, the towering business
te buy the steadily increasing production.
y HAROLD H. HARTLEY, Times Business Editor THERE ARE SIGNS that the prosperity nobody un-
derstood is getting top-heavy. It's getting talk-heavy, too. Like a child piling one block upon another until the
figures of the “furious fifties” are beginning to show signs of wobbling.
This prosperity is built {for unemployment compensation upon a three-cornered foun-na,q gained four per cent in one dation of automobiles, home week. That was a sharp reversal. building and television plus appli-| Then some automobile dealers ances. {who have been lolling in the lush The production figures of all Warm waters of an unexpected these industries are wet with prosperity are showing a doubtcloud mist. As they push up, they ful look in their eyes. carried along the steel and Jum- | This is strictly within the trade. ber industries, concrete and elec-| They tell outsiders, with their tronics, rubber and chemicals, in- fingers crossed in their pockets, | cluding petroleum. |that the ground swell in the Last week the fact-minded|doliar sea won't break on the State Employment Security Divi-ibeach for a year or more. sion gave the tip-off. Applications] But that’s a hope, not a fact.
Words are not helping, not the kind eof Talk Does It words being passed between business men al luncheon tables.
They talk openly about the growing inability of the country
~{Some-ery before they're hurt; too. Weep words dribble ‘nto coffee cups. They are saying t0|running out of good Sund one another, quite convincingly, 8 8 unday
hs clothing. that “things are going to get] The stores are in for fatter worse.’
{cash drawers with prices higher. This, In face of steel production If and when this prosperity at 101-plus per cent of rated
does fall on its face, it will be capacity and money still pouring due, not to lack of market or deinto savings accounts
y mand, or buying power, but to Father's Day gave the stores the same old business squéicher a lift. And just ahead, if the fore-| which has upset the cart so many casters are right, there are bet-|times—fear talk. ter days awaiting the soft goods| So if: you want your plant to market, be prosperous, and your job to What has happened is that/be good, talk things up, don’t we've been spending our money talk them down. for labor- saving appliances and! You may be talking Joveult pleasure equipment, and we're(into a layoff.
* One of the three golden keys to prosperLeveling off? ity is the automobile key.
In May 700,000 new cars rolled off assembly lines. And the vacation-minded public gobbled them up, pressed dealers hard for more, and insisted on faster deliveries. This makes wages but taken alone it doesn’t keep the automobile going. Underneath. there is the - heavy undertow of trade-ins|It means merely that the pressure which go to the used car lots. [tor cars, the eagerness of buyers These have to move. If they|is slowing. do not, the automobile business| One of the biggest dealers said,
would fold like a tent. Most new. car sales have a trade-in amount- Used cars are still moving but
ing to well-over half of the pur-| there is a slight difference in the chase price. That's how people |speed. Business is not off, only can buy. [there isn’t quite as much steam The used car market perked up|Pehind it. with the first warm puff of! The “leveling-off” is expected] Spring. From then on used car/to be something more than that| men knew they were in for a gold by the end of summer with family| rush. trips out of the way. Then comes| For awhile it was pell-mell. Re-|the pocketbook pressure of buying cent models, 1948 and 1949, were Winter clothing and outfitting] snapped up at good prices. But, children for school. That will | now, car men are feeling a “little dent used car sales. ©... ooo} softening” of the market. | And, in a measure, new cars will| They also call it “leveling-off.”| | feel it, too. |
The Farm Bureau has its dander up over, Comic Books the Brannan Plan push, and how it is be-
ing promoted by government-paid employees, fertilized, as they put it, out of the tax till. There are pressure signs showing up over the country, and in| Indiana representatives of the Department of _Agriculture hold ‘meet-| ings called to discuss other farm
ge sailed to dict WLMGE SuTIl oh WE. vied, Togas # ws Homes On Buckingham Dr., High School Rd., and Chester St.. Have | New Owners
over to the Brannan Plan. . The Brannan Plan is one of the important legs of the Fair Deal's! welfare program, regarded by| fundamentalist farmers as a de-|
What they think is that once; {the Brannan Plan gets hold of the! {farm economy the farmér will not|
| money grip on thé farm vote. |
vice to tighten the political knot be able to live without it, and. to| / {keep-it he will have to. vote for} os
around their throats. The farmers generally in Indi-|the party sponsoring it.
ana do not like the Brannan Plan. | Here's one way it's sold. The|
Ws father who pays. . . . And two daughters ancciuted with their fathers in the real estate busiad know that today's his day . . . to assist them for a change. So he'll rememCatherine dictates some office routine to her father, Dave (left photo),
Real Estote—
Many Fathers Team With ‘Kids’
52 Combinations
day.
-|velopers and purchasers are pro-
Thousands, Says Plan Commission Official |
e ta trim new ng costs reached into local levels of governmental responsibilities to-
The Urban Land Institute last week charged that housing - de-
viding municipalities with new streets at private expense. The private research and land planning organizations said home| buyers are paying too much for
something the local government
Installation of streets and sew- |
Tomorrow and for the rest of
” ” »
Active in Indianapolis By the Real Estate Editor
“Today is “loud tie” day.
Nothing more, nothing less. The calendar and merchants
say it's Father's Day.” But-it's just another commercial Christmas. Ties and bills. But like Christmas. in. another and more proper sense, today is a joyful day of recognition and thankfulness. Sure, the old boy pays in the end, as usual, but it's mighty fine to have Dad around, That goes 52 times down around! realty row. That's how many Dad's have schools. teamed up with their sons, sons-in-laws and daughters, too, in the|to city brisk business of buying and|Taxes merely liquid selling shelter. There's no special, special back-
ers should be able development” by private cap-| ital and should not inciude all fa-| cent homes, the clared. But planning chiefs here an-| swered that regulations govern-| ing new developments are saving home buyers thousands of dollars
in. future community. improve-,-
ments. Private Contract Saves
against ‘blue sky’ (wildcat) lots,” said Noble Hollister, city plan commission secretary.
to--have street-and- sanitary -im-
vate contract than petition the city later on,” Mr, Hollister said. | In the city and county, regulations call for “bare essentials” in installation of new streets and sanitary facilties, he pointed out.
Replying to ‘contentions that
velopers increase tax revenues real estate, Mr. Hollister said.
No Profit to City
“Municipalities never make!
new project is paying for all city| | services—police, fire protection,
“Annexed areas add red Ink ledgers for many years. |
provisions for city services for| I at a given rate on the
slapping today on the row, but estimated cost of those services.
I'd like to tip my typewriter to all the real estate Dad's, just friendly-like.
velopment,” he explained.
And I'm able to do this b
of some rapid researching by Mary Binford, punctilious “hostess” of the Real Estate Board. The “special” teams on this day include:
FATHERS AND SO Robert and Robert IN Bn son; Fred G. and Alan C. Appel; Joseph J. and Joseph H. Argus; Hugh and Dale Bremerman; William A. and William (Jr.) Brennan; Willlam L. and William (Jr.) Bridges; LeRoy and Richard Carson; John F. and George Clayton; Harry and Robert Dillehay; C. B. and Robert Durham. Bowman and William L.
Elder; William N. and Willlam
R. Fleming; Frank E. and Oliver Gates; M. G. and Joe Gerdenich; M. L. and Bill Hall; Ralph E. and Donald Hueber: James W. and James (Jr.) Hurt; Howland A. and Robert Johnson; William H. and William (Jr.) and Tom Keller; E. G. and Dudley and -Howard Kemper; Forest M. and Mead F. and Harry Knight. George A. Kuhn; L. B. and John B. Lookabill; Paul L. and Paul H, and William MecCord; J. Harry and
J. Harry (Jr.) Miles; E. Kirke
and E. Kirk (Jr.) and ‘Robert H. McKinney; John R. and Roger T. Moynahan; T. A. and Robert B. Moynahan; Henry E. and Henry F. Ostrom; John H. and Jack D. Otto; Fred L. and Rieh-
ard Palmer; Henry W. Penning- | {Owners and Managers Association |Inc. 3762 Watson Rd.
ton and James A. Pennington; | J. Arthur and Joseph A. (Jr.) Rentsch; John A. and Jack Schilling.
Timothy and W. Lawrence |
Sexton; Roy C. and Stanley | “Smith; Fred C. and Pred C. (Jr) Focken Albert E. and Albert E. (Jr.) Thompson; Leo F, and
| Tommy and John R. Welch;
George T. and George T. (Jr.) Whelden; Ford V. and Dave |
(Continued on n Page 43, Col. 4)
and George (Jr)
8 “It's much easier to put in im provements when the project is in the making than to get these facilities by tax assessments later on,” he reiterated.
Must Await Development
He pointed out the impossibil{ties of mapping out virgin land with streets and sewers before housing development starts. “It's great waste of money and crystal ball folly,” Mr. Hollister said. The institute report wasn’t derected at Indianapolis but warned of excessive requests for facilities made on developers in other sections of the country, Mr. Hollister said. The institute survey urged scaling of utilities fo the use they will receive from adjacent homes. “Standards for street location and alignment, street widths, paving, sidewalks and other utilities should be geared to the type of
serve,” the report said.
to do here,” M ” Mr. Hollister said.
geared to ‘reasons -
cilities used ultimately by adja-| institute. de-|
“We're protecting the public
“Besides, it's cheaper and faster Lo
provements installed under Tl
| More Than $350,000
money on taxes. Besides the in-| creased value of land through a|continue to sprint along, with 34
Every citizen pays, not just the new home owner in a new de- submitted by Chairman Warren |M, Atkinson and Secret C.
Builders, he sald, have an tate
‘obligation to build a community, not just houses. And the entire city assumes a greater responsibility for an improved section, he Ww. L. B ridges & Son—2426 E. Sa. id. 1 4?
development which they are to! “That's just what we're trying|
Photo by John
i a on Pamela Drive is taking root, one of Broad Ripple's new neighbors.
EVANSTON AVE.
Spicklemire, Times Staff Photosrapher.
i led
ST.
2nd
9
{
|
oO
eeregign. N,
N. Side Realtors
improvements on land by = Report U Sales
|
Transactions Total
Associated North Side Realtors
additional property sales recorded, The transactions included six |lots and amounted to more than! $350,000. The number, while under the|
ate budgeted 97 peak set in a twosweek period|
at the May-June merger rep-
resented a high rate of activity in|
the organization: The weekly market report was
Scott Padget to the Real Bosnd for compilation,
on Willis YO ‘Blue Ridge
N Rt, 1920 “Toth St and 5139 Central Ave, in a cross-| sale with Jack C. Carr. Jack CO. Carr — 951 Campbell| Ave. Road 67 and 56th St. 5428 Speedway Drive, 3519 Birchwood Ave. lots 80 and 50 in the Northdale Addition, 4230 Glenwood Drive, 2838 N. Chester St. 1415 W. 28th St. and 3560 Carrollton Ave. In a cross sale withthe Knight Realty Co.
fliegh Addition,
Atkinson & Co. and 3161 Wash
American Estates Co. Gerdenich Realty Co.—508 W. 434 St. ‘Fred T. Hill Co.—4225 N. Tn-| nois St. Hall-Hottel Co.—Lot 95 in Can-| terbury addition and 42 N. Arling-| ton Ave. ! FF. MKnight' Realty Co.—3000 Villa Ave, 1219-21 Wright 8t. and | {Lots 117 and ‘118 College Crest addition. | FP. O. Tucker Co.—86101 N, Tux{edo St, 3710 N, Chester St., 3737
4 BOMA Members iis Wintnro; Jos Eth St. ‘Attend Convention c.
Four members of the Building Cross sale with A. H. M. Graves,
t. in a cross sale with Walt Veon | 4917 Kingsley Drive.,
in a cross:
|here attended the organization's ale with American Estates Co.
national convgntion |Wash., last week.
{Mark Griffin, chapter president, |
and included Maynard Hokansen| Ave.
|of the Hume Mansur Co.;
The local delegation was led by|
in Seattle, and 5234. N. New Jersey St. in a'a year.
cross sale with Fred T. Hill Co, R. E. Walker—1136 W. 46th St. Ford V. Woods—6102 Guilford
[bert Rennard, Chamber of ' Com [Negro Howong Pushed |
{merce building; ‘Gerald Power, Fletcher Trust Co. building.
|129 E. Market St. building, was started for Negroes in Dallas
accompanied by his wite.
| within 10 ‘months.
And they boll over when it is United Press told how the Demo-|
slipped to them with a sugar coat-| cratic National Committees had § in et {distributed 100,000 propaganda-|
EB. Some leaders of organized farni- comic books fo give the) ers, who sald they would rather Brannan Plan political appeal.
St Florists. may compete with backyard gardens in the raws summer, but June is the exception. It’s the bridal month and they make the most of it. They choose
the right flowers for the bride and bridesmaids, the colors to com-|
plement their gowns, hair and. eyes.
And all those June anniversaries help, too. The little bride of|
years ago still likes a' box of = dew-fresh - flowers, even if she market.” Customers roam the has a yardful. store, choose as-they go.
STANLEY RAMMELSBERG, A TRAVEL BUREAU warns Stanley's Furniture Mart, gave against wearing nylon shirts or s store 8 new idea last week. slips on a summer vacation, and e opened a “furniture super- calls them “Turkish baths”
Has Harold Hartley, » at 8 ji m. today.
‘with “The Human Side of Business”
Basset biting en
115 Buck
Like Riley, realtors around
here are ‘knee deep in June.”
They're helping Hoosiers sell
deep” in homes,
sie Pe 3 & ; ~. - -. RR A tn om om a. - -
Among the major sales last F wesky Wait Yeon repaid the
ee ge FE re I LE = = i 2 Seat ; — et
Tm. cy, ——
ngham Drive
sale of a fashionable two-bed-room dwelling at 3734 N. Ches-ter-St. -
and find property, trying to This deluxe was purchased by please both parties, It's their Mr. and Mrs. Joseph Mattingly. job to smooth out the trams- The Mattingly's new dwelling action wrinkles, stay “knee was built in 1939 by Hugh Bre-
Ln io, Som
1905 S. High
The home was sold through Mr. Veon by Mr. and Mrs. Earl C. Rehm, who are retiring to __Ft. Lauderdale, Fla. Mr. Rehm is currently with the General Asbestos. Co. and was formerly in the marble and tile business here for Many years. Mr. is president of
Mattingly Tn the Henry GC Bmither Roofing
Fay C. Oash—Lot 599 in War-||
Fieber & Relllly—4704 N. Penn-| sylvania 8t.; in a cross sale with’
ington Blvd. in a cross sale with “iJ
KEYSTONE "AVE.
Prajoct. Ore . . = Dawnbury, part of a proposed $“ wilion North Side sommonity,
$ : i {
Brawn trom
Projet Two... Kesslerwood, being completed by the
amas an bang ansmen sual
$4 million neighbor.
taking root between Key stone and Evanston and from 50th to 65th Sts.
Building Devry, Kesslerwood Sections Sections
RY Real Estate Editor
Y Broad Ripple is getting s
_ More than 300 homes are |
Aves,
D | It's a Midwestern development 3 g | | with Hoosier home wi include 0 s ol6 a an Ole north of Broad pgp, Stillerma an Ribple rev Salpment is = two Q additions 624 St. 0 It's off
Dawson Realty Co., ne.
Paul E "Jones on Banking Council
Paul E, Jones, secretary of the Indiana Trust Co., has been elected ‘to the executive council of the American In- . stitute of Banking at the national meeting in Minneapolis. Mr, Jones was active as an as- “= sociate councilman of the institute for nine years and is a past president of | the Indianapolis| Chapter.
Mr, J ones
Mr. Jones accompanied a doe,
gation of nine from Indianapolis. |
Southwestern Bell Gets |
Rate Hike in Missouri JEFFERSON CITY, Mo.; June| {17 (UP)— Missouri Public Service
Commission today granted South-!
western Bell Telephone Co., a rate
a year—effective July 1. The boost is the second in about The previous increase,! amounting to $3,228,000 a year in Missouri still is being contested in the courts,
[EXPORTS IN CREASE
| 2ONDON, June 17 ¢(UP)-—Brit-|struction 'of dwellings; loans for! DALLAS — Construction has ish Information services disclosed! rehabilitation or construction ofthe Charles M. Dawson & Sons {started on a 28-unit apartment| today that Britain's exports to multi-family rental housing; loans ar, BF not before 1851. Mr. Griffin, who manages the project—the fifth large-size rental the U. 8, rose to $23 million dur-|for non profit co-operative hous- | |ing May, highest dollar yield for| ing and loans for large scale
nearly two years.
School Road ~~ ,
Co. He and Mrs. Mattingly are
moving from 5131 Maple Lane in Irvington. Another top sale was handied by Realtor Jim Ketrow of 1528 8. High School Road. He sold a sturdy e duplex at 1905 8S. Road last week to Mr. and Mrs. Ariand Nihisen, 3
t-room Schoo
Moynahan Adds Brokerage Service :
Realtor Roger T. Moynahan
of real estate brokerage services| to the property management facilities of his office, Mr. Moynatn has managed R. Moynahan Properties, Inc. (apartments, storerooms) for many years here. The brokerage unit will also Include a mortgage ‘lending department which will enable handling {of lending and insurance besides management of properties, he said.
His office is located a. 3433 Cenral Ave.
Issues Sorry Of Housing Act
| NEW YORK, June 1 (UP )e | American Bankers Association last week issued a revised sum-
and Servicemen's Readjustment
In ali, rease of more than $3.5 million! Act designed to serve as a ready|
reference for banks handling loans under these acts, The 15-page booklet, sent to) savings banks and mortgage loan officers, includes the various types of insured loans for renovation) {and conversion under Title 1 of [the National Hotsing Act] mstred’ (Title II loans for purchase or con-
| production of small ‘homes.
Mr. Nihiser, production clerk with the J. D. Adams Co. here, purchased the property from the Edgar Foltz estate. A three-bedroom Sustopper at 115 Buckingham Drive : another recent top property —_ It was Bernard _ Kelly, scout for the Pit
7d Pirates base baseball team, from r.
announced last week the addition! But the
~|chased by’ the Dawson Construc=
{this year.
{mary of the National Housing Act
3734 N. Chester St.
oped 35 blue-chip dwe 159th St. and Evanston Ave. fore and after the war years. Now the Dawson Real Inec., is building 18 houses along Hillside Ave., West Drive, in the area bounded by. Keystone and
) are or Jed stone os Cape Cod and ox |
$510,000 Next Year Development. of Hillside Ave, East Drive, with 17 homes will put the cost of the project up to $505,000 this year. The 30 sites will take “contract next year. Estimated 1051 project cost: $510,000. :
‘be on what was sgoVs ernment land grant to a great.
Here, 240 home sites are mapped out and are being pur- :
tion Co. from the Dawson estate now owned by the former state official and two sunts. This section, known as Dawnbury, will include 33 two and three-bedroom frame and brick bungalows from $10,500 to $13.500 - in the top half of the real estate
Future development of 187 Tots in the wooded and higher areas drifting toward 62d St. will ine chide higher-priced homes of brick and stone; company Hanh indicate.
20 Along Pamela. Currently, 20 of the frame bungalows are in the making along {Pamela Dr. and 13 more are [planned before 1951 along Pamlela, Maple Dr. and Evanston Ave. {Last year, the firm erected 14 {houses along E. 65th St. In addition to the homes, & . {business section is planned from {Keystone Ave. west along ap{proximately 800 feet on E. 62d t.
This area will be developed by 4 ]
“Maybe later,” explained 27 (Continued on n Page 42, Col. 7) 42, Col. 7)
and Mrs. Frederic W. Wager. Mr. Wager is a retired insur«" ance salesman and is currently