Indianapolis Times, Indianapolis, Marion County, 6 August 1950 — Page 38
Level Since June ‘28 : By ELMER C. WALZER
ume,
It was the fifth weekly rise for|
the rails and third for the indus-
+
Reduced trading — it averaged 1,760,630 daily inst an average reflected caution of traders, pend-|
ing clarification of taxes and con-| :
tors revised their
"Market opera
edrller estimates on the scope of |
the war economy and decided it would be much less full-time than that which came in the early
stages of World War 11, Such cal-| ~ culations, together with a belief
the market had been well over-
old, helped. the recovery along. |
Production Gains : Meantime, industrial production moved up or held at very high levels on gains over a year ago ranging from 9 to 468 per cent for various lines, A There were many highly favor- ' able corporation reports issued and some favorable dividend actions taken. Trading started in the new -stock--of Adlted Chemical, split four-for-one and that injected a bit of life into the market. Another development. that attracted , attention was the plan to merge Baldwin Locomotive and LimaHamilton. That set off such activity in those stocks that trading had to be suspended in the latter for a timé on Thursday. While the Street revised its .~views on the extent of the war economy to be expected, it was
“noted that the main volume cen-|per consecutive month in which averages fell. The drop followed a continuous rise of 11 consecutive months. However, average issue| still above the 1049
tered on the war stocks. Their strength sustained or lifted the remainder of the list. A total of 1377 Issues appeared
on the week and of these 845 prices were _...Balned, 368 declined and 164 held ave
unchanged. A total of 168
reached new highs against 30 at new lows.
Other Gainers
to 335. : Allied Chemical and Nickel
visions with gains of nine points
Automobile issues netted 1 to
Motors. Higher prices for tires
NEW YORK, Aug. bo Btocks advanced further during the past| ‘week but sharply curtailed vol-
rss Cosme
Building,
Shortage Fear
Stirs Uncertainty (Continued from Page 37)
month, The biggest dip came in the week following President Truman's request to trim mortgage guarantee highs which affected down payments.
Real estate bonds also dipped 6
“Thomas and Mary Spencer are new owners of this four-room dwelling at 2462 S. Holt Rd. They purchased the house and adjecent lot from Robert and Megara! McGown two weeks ago. Dillehay. of the J. S. Cruse Rea cor is 4 farmer, The McGowns have moved to Crawfordsville.
Co. handled the sale. Mr. Spen-
Sale of this three-bedroom house at 2147 S. Delaware St. was completed last week by E. L. Dunn of the Studebaker Realty Co. The dwelling was purchased by Lester Williams, meatcutter for Armour & Co., from Mr. and Mrs. Everett Matthewson. Mr. Matthewson is a foreman for the I. N. S. Motor Express Co.
a year ago July.
Sales Surge On Despite War [Early Start Set
However, the cash investment in for 33 more units than their city
housing was $250,000 more than cohorts. ; On Essex House Ee | Together, _ city-county starts x i ;
‘Builders obtained permits to last month were 104 units and
construct 223 single-family dwell. 3.2 ution mote hat Wt 390-Unit Building
ings and nine doubles. There were no new requests for apartment
started in July last year, the biggest building year on record.
Preliminary figures also show
projects last month. In July, 1949, city-county contractors started| (Continued from Page 87)
builders had 254 units approved 700 units more than were started
for constructiotn.
In the county, contractors year. In cash, that's nearly $7. The building
Sensing. more material cutbacks, builders here also shifted construction policy. - Some project contractors had Net gains ranged to 8 points/peen hedging against price boosts. in stocks selling up to $150 a puyer resistance by erecting a share. The latter was in Merck|model dwelling and selling other .convertible preferred. Superiorin mes in the development from Ofl of California shot up 25 points |spis house.
Now, most builders will not
under way until the dwelling is 2 a ready for occupancy. They don't sash. aim ay Polina or want to he pinned to a set price f Porcupine, Mission Corp, Merck ~~ common, Brooklyn Union Gas, fe ; “WW A . . any Bolg Watsier Yet, the boom boomed louder more than 4 points in General/than ever last month. : In the city, residential starts
costs, labor shortage and material” scarcity clinib-
sustained that group. Steels wereiagain dipped under the number steady to firm. Some textiles im- started
i.
proved. Coppers rose in the Fri-|
fi wi All Kinds of ‘On the Hoof suns song unr met ao. AAI Kinds of 'On the Hoo
mand late in the week. |
| tog nes tor me were enero Mi@Qt Drop During Week
steel, railroad transportation, and| retail trade, Steel output rose to!
marked another new housing rec- million more than the comparable ord for the fourth straight month.|1949 figures.
They planned to dig foundations
: INDIANAPOLIS : 3 1949 Memorial on the west and the duly, 1950 250 matte. | Architects’ Building on the south. = Jashs evessreen MM] i er The J. L. Simmons Co. Inc. alue S101 preys Ladd + the arson . | will represent Warner-Kanter in|Bl val uoy comp: 1949 local Sonstruetion, Ammerman, : Davis & Stout, Inc, will be conValue 11.1100, Binanase Siisanrs [struction engineers’ with George
MARION COUNTY (22 other incorporated towns omitted)
Starts visseeeeseaes 274 units
Value .iciencensasn $2,656,476
rison, architectural firm, designed July, 1950 yl the structure. $1,606,550 O. J. Smith Realty Co. will handle residential rentals, while “i948 [Kien & Kuhn will handles leases! . 954 units for the commercial quarters on $7,118,100 the first floor. :
a year ago last month.
year. Carloadings Up
En
ments noted some fall- & Ing.off Inthe warsscars buying.of,
recent weeks,
so-called héat walkouts.
CE High
~~ pared with a year ago. Bonds generally held firm
.a fraction above rated capacity and was up 28 per cent from last
“Automobile production declined on the week but was. 23 per cent | higher than a year ago. The decline for the week reflected minor labor difficulties, including some
“Wholesale food prices rose reas ly-one-per cent and were 12 per -cent higher than a year ago. Com- | ‘modities had a sharp decline late 75 in the week, notably grains. Rub-|
Business loans and currency in circulation increased.- Gold. re-| . Marketings of cattle counted serves declined. Business failures out about 5000 head larger than a declined - teh from the previous (week ago. The greatest downturn week. Bank clearings gained [was on beef steers and about one per cent on the week | Which lost 50 cents to $1.25, and were up 24 per cent com-| exfreme,
Values Per Hundred Pounds Off 50-75 Cents
For Hogs; Cattle Off
CHICAGO, Aug. 5 (UP)—Prices of all kinds of meat, |it is sold “on the hoof” to packers at Chicago, dropped subs © ~Carloadings gained nearly 2 per 1¥ during the past week, cent on the wéek and were 17 per!
Baad
APH the
r demand from
The top-hog price was $25 a!
| Marketings Gain
outlet than butchers.
. The aggregate of sheep receipts
ih pA TAT LeRrCh
y Hn ‘® PWR da 4 ol NY bo dressed lower both at Chicago and in the. Seutathatfr anieuieaiatlid fea Ganets ~The. Week's trading Fast. Big XNTeFs complained about COTPANY Tepurty the acing die {on butcher hogs was the slowest l0W dressing yields. {80 far in the summer season.
“supported the market at $28, . |. | In Friday's trade, most good dated net earnings of Decca Reeand choice 180 to 240 pound but-/ords, Inc. for the six months cents lower while sows were chers: sold from $23.75-$24.25. | \ isteady to 50 cents lower, the de- Weights-240 to 27 ber, an exception, soared. to. new/|cline on.welghts below. 400. pounds: $23:25«to $24: 8. ‘ {Sows met with a more reliable!
Barrows and gilts ruled 50 to!
etocks. Trading lightened in that |
market also.
Edison Sales Report
Times Specia
New York Indianapolis
Sines 1921
1 NEW YORK, Aug..5- Thomas
PRODUCTION ENGINEERS
~~ Kansas City Serving American Industry.
grain futures market was rocked back on {ts heels late this week
Whatever small advantage the’
{market gained during the week {was lost. Most grains_had managed some advance on buying {tied to war news and Washington
| reports. But compared to activity
(of recent weeks, trading was at a ‘snail's pace. As ofthe close of dealings last
| night, wheat futures were off one!the National Association of Home {Builders will hald its first large {mid-year conference in Madison,
{to two cents for the period. Corn
Grains Rocked Back on Heels |
lines has more than doubled the
{alap was down one or two cents, 'oaly were unchanged to off one;Wis., Aug. 13-16. |
* Preliminary fAgures
as Much as $1.25
}
4
As a result, lamb prices were | 2CHVIty in the railroads Increas- 2031 stores. thundredweight, paid Monday, but pounded hard all week and of iprices dropped sharply the next late, the big killers would pay no! {day and rested at the low levels more than $27 or $27.50 for a few {for the remainder of .the ‘week. odd lots, For awhile small killers The closing top was $24.25. TT. t $28.
i
Sows topped at $22.25.
sales involved medium to goo
steers and heifers on sinughier CROSSWORD PUZZI =
with |at leading markets were larger account at $25-$20.50. 7 . °
cents,
Soybeans ruled 10 to 12 cefts 4
NEW. YORK, Aug. 5—Nationwide expansion of natural gas
sales of gas appliances inthe
last five years, an industry -
survey ‘reveals,
Builders: Conference Executive Offjcers- Council of
a
Seven-months comparison — 1980
Starts SrtA ppd Vi Sessa anny $ BIE te RAND TOTAL CITY-COUNTY pi (Includes 22 other incorporated towns) : January-July, 1950 Starts ...iccvevneveiies 3600 units* Value sovicvvovnveeseees $27,208,711 : January-July, 1949 Starts .iiiiiiiriincneses 2090 units Value Peds sss essen $20,292,579
Standard Forgings Shows $302,173 Profit
Forgings Corp. reported a net v profit of $302,173 for the six MOrtgage insurance for FHA.
corresponding period of 1949.
[ported in 1949 to $6.0
{to lack of purchases of new I Haid |squirment by railroads. But with| chains which operate a total of|
ing, sales should take a jump, - TE ———————————————
ended June 30, 1950, amounted to 0 pounds brought $360,582, after provision “while=a-fow 28016" $221 002 “FoF “THeoms “tax. Th 320 pounders went at $21.75-823./equals 46 cents Per-share off use 7° nor {776,650 shares of capital stock Window Walls Used Among the few sizable lots of outstanding at June 30, 1950, It| slaughter steers offered Friday also compares with net earnings|a was a car of good 1097 pound fed of $390,647 or 50 cents per shareiresults of da heifers steers at $30.15. Odd lots of good in the corres at the steers sold up to $30.50 but most 1949.
E> na 9~Total 40-~Cyprinoid fish CHICAGO, Aug. 5 (UP)--The cent, and.rye was off five to six 13"Time gone on
4—Afternoon party 43—Rage
Here's the chart:
Essex House Corp.
CHIC AGO, "Aug BD Standard | Roy W. Clatt of Boston.
months ended June 30, 1050, This| (LMS). —— iis equivalent to $1.14 a share on . where 266,000 shares of $1 par value Chain Drug Store tantial- common stock outstanding. This {compares ‘with a net profit of At the Chicago livestock yards, values per hundred pounds de- $483 101 and $1.82 a share on the ——cent-over last year. Retail trade ¢Hned BO-to-Th-cents for hogs. ~Cattle prices sank as much as $1.25 same number of shares for the showed gains of 5 to 9 per cent 8nd the trade on.lambs was weak to 50 cents lower with instances!
i MA of its monthly r
‘
The design of new schools shows n increasing awareness of the | ylighting research. ponding period of Many of them have at least one {window wall in each class room.
ACROSS 38—Romas Drum Og d 1 | hea Betula O[S[ 3 JMO IN
by mmature seed 41-8trike out
[SIAL 13 Ol 32.0
e S—Renovate 45—Roman tyrant ; : [SLAVING 310] J] A. Edison, Inc, and its wholly/on the Board of Trade by new low. They received the brunt of 17—Phoenician eity 3¢-ghaniah JiB ¥ (Wi 3 LISIAISI LIV % 8 owned subsidiaries, for the six evidence of ample grain supplies a report Friday by James E. Ben- J-Prinure measure pi JGISIVINIROS VIR! 3! months ended June 30, 1950, re- ahead. ? nett and Co. which indicated that 31—In addition sok. hlunetion EEN LEDER Port consolidated sales of $12,-| A private report calling for most crops would outdistance the Hof oie 3g wHabtuw month L In O19]Y 048,041. This is a profit of $285.- abundant crops of most grains, government estimates made as of der mson oo 080 before income taxes, and, backed up by price control and July 1. -| Americas, Sot oS Histub hemes : after provision for such taxes, a war uncertainties, Friday started! Based on Aug. 1 conditions, the 33-ges eagle $9—Fruit drink g net income of $121,901. {a selling move that had the mar- company estimated this year’s 33-Native meal : pom | OWN This is equivalent, after allow- ket all to itself, soybean production at 227,640,000 a ly 1--Female horse Ing for dividends on preferred! Prices went into probably the bushels, 55 million bushels more dh 3-ou £tock, to 19 cents per share on Sharpest dive since the ‘outbreak than last year. 02 t E weight 405,000 shares of class A and|of the Korean War. Every deliv-| Production of all types of wheat $level country class B common stock outstand-|ery of soybeans spld off the 10-/'was estimated at 984 million steer corn AB ee ne C00 ABIY.. Uimit- and -grains lost: bushels - compared With the gove EA ey e—————— 3 from one to more than six cents. ernment July 1 estimate of 957 i WINDOWS LET IN ENERGY | Sales were restricted sheerly for million bushels. Oats output- was Near - “Large windows are necessary to/lack of buyers. Awaiting news set at 1,410,000.000 bushels, for k Bical datker provide proper entry of solar radi- from Washington and .the war above the 10-year average. . = | Deas of hearing | ant energy in winter months, front, they held off even when | 1 ort 2 {soybean prices rested on the low li I u bad be : {limits. Sellers made rock-bottom App iance Sales Pp 24—Water passage ; WILKEY & Co. {offers to the thin air. Fr B-Siupld_ person
36-Unrelenting 2T-—Army meal 38—Body of water 29~8et facing the East
31-Contend 35--Expungers - 33—-Withered 42-Weight of lodis ply
son of Cambridge (Tity and Hamilton W. Hunter of Ft. Wayne on the executive council. ‘| Others attending the initial = owing w were Prank 8: McKibbin, -{J«E, Jackson, Earl B. Teckemeyer and ul, Starrett. of Indianapo-i-SA088° Somp
Frankfort. ’ swimming star, is a r members of the o i of Shortridge High School and
Veterans Get 1st Chance In New Home Sale, Rental
- Notice Must Be Given by Signs and Ads Wendell M. Hicks of North Man.| ~~ When Residences Are to Be Marketed ~~ Houle buying opportunities knocked again for Hoosier veterans
GI preference on sale and rent én reiterated by Housing Expediter Tighe strings around the housing market. He pointed out veterans preference programs set up under the recently approved Housing and elevate the character of the pro-|Rent Act of 1950 “becomes infession at the initial meeting. creasingly more important” because of new credit restrictions. Under the program former servicemen must receive first chance to buy or rent shelter completed since June, 1947. For 30-Day Period Builders must offer new accompany announced ast Sommatialions publicly week the rippled surface of the ue Ridge patterned glass will provide a decorative finish with a medium amount of obscurity,
zation. also include Jennings D. Carter and Orrion W. Kattman of Evansville; Edward D. Auer, William B. ¥. Hall and Robert J. Lang of Ft. Wayne; James R. Davidson and William H. Jessee of Gary; Samuel C. Ennis and Robert Strawbridge of Hammond; |
chester; Richard A. Muessel of South Bend.and George A. Kuhn, last Norman Metzger and John W.|. Roberts of Indianapolis. Harry Grant Atkinson, executive director of the Institute, outlined aims of the organization to
To Cost $3.5 Million
the remaining efficiéncy apart‘iin the first seven months last! ments,
Decorative Touch
In Rippled Glass Two new glass surface patterns are coming off the production line at Libby-Owens-Ford Glass Co. (leds, 0.). :
y will have shops. restaurant, drug store and office space on the ground floor. The apartments will overlook University Park and the World War
Fink of Fink & Roberts the
structural engineer. Russ & Har-|being made by the firm.
———— Roly-Door Distributor
Morrison Roly-Door by Morrison Steel Products, Inc. of Buffalo, N. Y. The Roly-Door is a fourSectional, all steel, overhead, residential garage door.
Rents for residential units] have not been established, but ~. [they will be around the $90 per month bracket, Mr. Kanter said. James L. Permutt of Birmingtham represented the developers as staff attorney, while Léwis C. Bose is local counsel for the
Paul J, DeVault and John R. -|Carr Jr, were the local representatives of the Boston bank issuing the loan, They were assisted by!
Marshall Williams closed the
June Sales Off Slightly] , Times Special NEW YORK, Aug. 5—Sales of | chain drug stores in June were} fraction, mpared... with gf...
lies.
distributor of the new
EE eee
Motors service salesman. increased the company’s sales force to 16. = Tom Gastineau, IU market ing degree-holder, and Harold
—Gauker began checking g Side listings last week for the
six years.. 2 4. Mr. Gauker is.a native of New. Hy
tier Pl. with children
Kappa Psi social fraternity and n a hous upperclassmen’s honorary. : Besides working for GM for more than 10 years, My, Gauker built. and sold several North Side properties, sociation with GM, he was a
‘Castle and lives at 911 White his wife and twe
Before his ase
ew residential property was E. Woods as credit tightened
nections have been made.” That's when the 30-day veterans prefernce period “begins, Mr. Woods
rans and their fami.
This must be done during construction or conversion and for More than 20 individual pat. ® Period of 30 days thereafter terns of 3 and for a seven-day period prior { Blue Ridge glass are NOWiie- “subsequent renting or offer"|ing for rent to non-veterans.” The same holds true in selling or rese new or converted s eThe Crawford Door Sales Co., selling dwellings. 4. sing! 5365 Central Ave. has been..ap- {Manufacturers or sellers of prePointed fabricated houses come in under the rules, too, Mr. Woods said. He explained ‘‘completion” of a dwelling - refers ‘to the time veterans when the house is “first suitable for occupancy and all utili
g. the rests) onal sales survey. The survey covers 68 drug
Chain drug store sales in June : were higher than in the same! Decca Earnings : _ |month of the preceding year in
i isos pestal oo JOU. Teglons, and. held even. with! a RR ER EW. YORK. Aug. 5-—Consoli- June, 1949, ina fifth region. But | pe sales declines in the remaining three regions brought the na-| tional average sales to a figure {0.4 per cent lower than in June,
You've read about it in magazines . + + heard about it on the radio. . . i dreamed about owning a Tappan | with the famous Tel-U-Set. Now,
¥ it 3
| it's yours at a thrifty saving!
AER TH ARLE 3 Re Pr TORE rl
wim TELU-SET
© AMAZINGLY LOW PRICE |
= r (=) (= Pr SDI Ble LT] aa =f P= a <—— —— a SEER el
Tel-U-Set is that beautiful - { control panel that puts swtomatic
cooking at your finger tips. Look at these conveniences—electric clock with 314-hour timer... Visiminder tells when cooking is done . .. Visiguide gives time and temperamse charts . , . two electric outlets +++ Visualite oven with “see. . through” door. .. big divided top
+ + . concealed oven venting.
Act now to enjoy all this at a
big saving!
Ae
Must State Price
Veterans should be informed of new housing accommodations by signs posted before the structure
and by newspaper advertising... The signs must contain rent op sales price of the unit and name and adddess of person authorized to market the housing. in price must be made on the sign, too. Advertising of new units for veterans must be inserted for at
least three days during the first 20 days of the 30-day preference during the ce period required in any resale or re-renting. :
Mr. Woods warned violators of
preference regulations
proceedings.
THIS
INinois Street Store Open Every Evening | APPLIANCE ano AS 53 W. 34TH ST. wA os | FTE
EE a ——.e
TL ee ;
TL
builders merel; like they talk
Cool Air
"THE MAN sellin’ 'em had about air-cond! Nothing der ~~ cific units, bu word to get conditioner or That's from president of Se Ville (gas ref TR conditi The day wi when a house
on the resale n Why? “Homes wit and conveni meet with gre
8 tance than or
he said. : _ It's the tre “packaged
dishwasters, | TV sets all in automatic year is jogging rig! other “conven sion of central put it, . Houses with: systems are nd without the ye
...... tioner will be,
Wonder wha turing boys ha Rent Rant RENT DEC on here, a ni lords, a pleass ants. And it looks sleep, right | when controls than a Rip Va
~~ Congress is
wage controls up bill. But i will be handle Word from cates Preside