Indianapolis Times, Indianapolis, Marion County, 27 August 1950 — Page 41
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By HAROLD H. HARTLEY, Times Business Editor : STRIKES ARE CLOSING IN, more are brewing in the = big industries as the inflation kite pulls harder and harder|
at the wage earner’s purse in
far from settled. But the rail
row morning, and that's s what was bothering both public
and business. Chrysler Corp. did the unprecedented. It handed out $25 million in increases which may have been (1) a bid for skilled labor, (2) a good will gesture or (3) a moveup with General Motors which had just raised wages on its cost-of-living contract. © No price rises were reported in the “forseeable future” but that may not include the 1951 models. Others saw the inflation see-saw at work with wages rising freely so long as they could be passed along to the consumer. .— Look for walkouts to hit some of the big industries broadside in the next few months, or as soon as contracts can be reopened for wage adjustments,
Prices which have moved up as much as-25 per cent in some lines have given labor the jitters. It’s showing mostly in food cash registers. In the last week totals are off. Food merchants believe people are
-beginning- to eat what they've!
Inflation Fans Strike Flames
More Big Industrial Walkouts ‘Smoldering; Labor Gets Jitters
the war-fanned winds. ‘The railroad strike, even with government seizure, is
lines will run as usual tomor-
higher than they are now. ‘Labor is shifting, casting about for better jobs. That's freeze fear, too. And personnel men report fewer applicants. One store executive said where there used to be ten applicant's for clerk's job, there now are eight. And where there were three applications for a buyer's job there now is but one. Manufacturers are stocking up on raw materials, feeling: the touch now ‘and “then of a gray market, but they aren't getting far. Too many are in the race. Nearly every industry is running at top speed, from housing, to autos to television. And soap is still rationed by makers. Stores last week looked closely at the Wall Street Journal, which reported that the government is going into. the nylon. market to
hoarded to save what little money they have left.
Up but Spotty season with the opening of school «and styles.
But hard goods is as_ healthy as ever. And buyers are setting themselves up for a long time. Where they once bought a a $200
refrigerator they'll go in hock for,
a $350 model figuring it will last| oq) again.
longer. Hoarders have finally relaxed.
“ Business is good but it lacks the
quality of greed, no elbowing at the counters of merchandise earmarked as hard to get in World War II. Christmas toys, if they are made of steel, will be higher. Stores are accustomed to tele-
© grams from manufacturers which
gay, “We'll have to raise the price 15 per cent, or cancel your order.” But there will be no shortage of toys. They have been bought and are in the process of manu-
: facture.
Playground equipment is sure!
The stores still were not wholly happy with their ready-to-wear just coming into
buy 8 million yards of basic nylon
for parachutes.
and the switch to autumn shades
to be higher in the spring. That's
record production of new homes| for Americans will taper off in the
ask ages, intensified »iWar now, and reécently-imposed restrictions. !
Credit Restrictions i ~ Principal Causes
Times Special . WASHINGTON, Aug. 26—The
last six months this year from 25 to 40 percent. It's because of material shortby the Korean
credit That was the warning last week from the National Association of Home Builders. _ : Its study of home building today conforms with views expressed by Marion County contractors and realtors. 1,250,000 Units The Association, however, said total production for the year may still hit 1,250,000 new units, And that will be a new high for builders, the best year in history. ‘In July, U. 8S.. home builders started 144,000 units, sending the first seven months’ production to 838,000 homes, about 40 per cent above what was started last year, the boom building period. The Association said high government officials have reiterated the stand of “unequalled production” they took when the building express roared into the early spring months this year. They want the housing industry) to continue production consistent with defense requirements and necessary economic controls, the Association said. Blame Panic Buying
restrictions won't be felt until as late as November. They also S{blamed panic buying, hoarding
And the World Series has given local television sales a mighty puff. Don’t give up. There are still good sets to be had. But around series time they may thin out. Reports that some dealers are storing TV sets for the Christmas trade are unfounded. Good merghandising is to turn your stock at a profit whenever you can. Store sales are reported up as much as 25 to 30 per cent. But that's not true in all departments, managers caution. Some were up and some were sl sh. It was the people's choice, as always.
Food prices are still moving up a
And Now Junket | little. But the steam is gone out
of the hoarder’s
stampede. One of the biggest food dealers said yesterday that “Everything In the book has gone up in the last 30 to 45 days. Hoarders
did it.” The new fruit pack will be higher. Chocolate is up. So is| pepper. And baby foods, strained | and chopped, stepped up all along! the line last week. A sales manager said to his] boss, ‘“Everything’s up but junk-| et.” But as he finished the sentence he opened a letter. Junket had gone up, too. Sugar has eased off. It turned out the way the government said it would. There was more sugar than the public could store or afford to buy. Today it is resting easily under the 10-cent level. In ‘pepper there Is an honest shortage, not made by hoarders. One pepper broker has stopped putting up half-pound packages.
Transmission Tangle:
to down-to-earth talks about the
Teported-even white;
pepper stocks cleaned out. Grade A large eggs are disap|pearing from the market. It is |the off season. Pullets are coming in and they're top in quality, eB cheaper, too. Grade A medliums and small eggs are well un/der 40 cents. | Halt gallon carton milk is beginning to appear and will become more available in the next 30 days. Frozen foods and juice -concentrates are having their biggest innings. Take concentrated lemonade. Mothers use it for a quick mix for children and tea parties. And -the Old Man has found out it isn't bad either for Tom Collins ana ‘Whisky sours,
I had dinner with a few’ automotive engineers and listened” aytomatic transmission.
They shot straight among themselves, They agreed that there
hasn't been one yet which does n
ot have some slippage in starting,
some motor flutter, some waste of gas.
This has to be, they explained, ~ because so long as there is an ofl coupling, the transmission of ie “he-ge-firm-as-met 1o- metal. But manufacturers point out| that the automatic transmission RRO, ey jolts, no jerks.
foot on the brake pedals But there is a way to make them stand still without braking, It is |done’ by the very careful adjustling of the idling speed. |" An improvement would be an | increasing of the size of the pres-.. Fete WFEK oh “thé blake a | There is room for it to be six
Contract ards
and stockpiling for local shortages of many materials and deplored recent sharp advances in material prices. Other factors which will contribute to the housing slowdown were: ONE: Increased down payments because of mounting costs will have the most serious retarding effects. Under credit restrictions, increased costs after Juyd will have to be included in the down payment. TWO: Lumber, rocklath, brick, heating, shingles and hardwood flooring have shown the sharpest
The national group said credit],
*
ures ‘Farme
Hook's, Money Mart,
price increases. THREE: Cost of land joining upward moving prices, slowly.
ers were showing a hurry-up pace to conclude sales contracts. The, regard new homes as a goc hedge against inflation, NAHB said. Lending Tightens Its check also disclosed mili-tary-age buyers are not generally hesitating to purchase homes, but that banks and other lending institutions are generally tightening up on construction loans. The Association warned against allocations and priorities and cautioned members not to séek them by “hoarding and panic buying.” "The curbs on the nousing economy would not be {asked, short of all-out global conflict, since they cause many diffi cult problems, the Association said.
Drop $26 Million
tract awards dipped last week to $199 million from “an average week total of $225 million throughout the country. But it’s still ahead of the comparable week a year ago, the 8g Record reported yesterday. In the same week last year, engineering confast awards fotaled $148 million. Jo40e 158 contracts fazamaas housing dropped to $40.6 million’ last week; industrial building at
One thing they agreed would, inches wide, and much more com-{$37.1 million 'is down from
surely come, That is a simpli~| fication. Some of the automatics] have as many as 600 parts, too, much to get out of order, too
much to weal
fortable. But it is a one-pedal operation, and dealers say the public goes for it In a big way. And that's
million; highways, $28 million, down from $30.8 million. Public building, however, is u 61 per cent last Week to $32.8
: ToT DER
oie is ada
=
Some of the automatics creep “in traffic if you don’t hold your)
Suckers Won't Tell
their business; cars with | whatever the public wants on /them,
Telephones are still rattling] around town with silky voices
braying tales of big money in Canadian oil, gold and uranium mines. Natioal “take” for Canadian phony stock operators runs bet-
the border and bring them to trial.
Most people who “get in on the ground floor” don't squawk. They! -don’t want to admit they've been yet take him
bamboozled. So they seal up, write
off their losses in their income,
tax return. Here's how the fake stock sel-| lers wheedle the public, They use ordinary telephone books. phone business offices by day,|, homes at nightie
They go straight through the, book. That means a lot of misses.|gets enough, climbs aboard again. But what does it matter? They And they pump the dough out of
They
---pgr-than a -million.a week. And there's no Way {0 >-drag- them over
‘lit's s sweetest. First they collect money for the sucker for: the ‘right” to buy the stock, then again when they {put out the stock. They aren't through, even then, They rig their own market. You) buy ‘stock for 40 cents a share. {They call back in a week and tell you it’s gone to $1.50, and will be $2.10 the next day.”
Then the sucker, who never
keep all the money they get any-| way. If they sell $10 or $20 worth | of stock on a $5 phone call,| That's why the State Securis
him until he’s dry. That's when the company goes broke.
mittion. TE Bngineering ‘News-Record for 34 weeks at $7.66 billion, 43 per cent higher than in 1949 for) the same period. Private construction climbed 76. per cent to| $4.4 billion. x =
to $3.25 billion with federal up 18 per cent: to $869 million and state and municipal up 12 per) cent to $2.38 billion.
they're plenty ahead. ‘ | ties Division and the Indianapolis They've been selling “rights” security dealers will have a booth to buy wildcat stock. They tell at the State Fair, to keep suckers you it will be “speculative,” but/from being what they love to be. you'll get in at the start when| That's suckers. St : With twice as many older people as a generation ago, raws and expectancy rising every year, look for a boom in. shuffleboard, chess and checkers.
INDIANA'S not running out of coal by a long shot. U's geology division estimates there are stil 365,596,000 tons under Hoosier soil.
WHEN THE REFRIGER ATOR _push came on th this year, Fred,
Ritter over at Capitol Paper Co.
(Crosley Spaiweorp agreed to lo backed Republican canditake 30 “surplus els,” They date for Congress, is conductwere packed for Arabia. It took ing “his own “whispering camone dealer four hours to get a uaign.” No voite. He's got laryn-
CHARLIE BROWNSON, buisi-
erate off. gitis.. , Hear Harold H. Hartley with: “The Human Side of Business” on WISH at § p. m. today. , - oh Ls
sid
floor stores in the fast-growing Maryland Sts,
Take Spots; Completion Due Nov. 1
Long-term leases were completed last week for three ground
Mayan Street Garage ,.. Yeas mv tenants and 570 automobiles.
Three Stores Sign Leases | Liberalism’ Talk In New Maryland Garage Op MBA Agenda
Bossemeyer Co.
parking pavilion at Hiinots and
%=/Clay Runyan Joins:
John Max Staff
‘will Return Here From Texas Post
The active realty market brought an addition to the sales staff of the John Max Realty Co. last week.
The Broad
t¢ Clay B. Runyan, personnel man-
agement special-. ist, joined the firm to handle North Side realty sales. + The 40-y ea rold salesman was formerly asClay B. Runyangociated with Allison's and the U. 8. Employment Service, Indianapolis branch, in personnel and employment manager capacities. For the past four years, M&. Runyan headed an employment, NER a 3 Mr. Runyan is a graduate of Technical High School and studfed at Indiana University's. gxtension here. He is married and {lives with his wife and four chil-| {dren at 6611 E: 10th St. -The--Indianapolis--native plans!
aren . BA dr oa an AE
re- Ito take the state examination for| ported heavy construction total real estate salesman license next! {will move into larger quarters
month,
| OK'S $33 MILLION LOAN
WASHINGTON, Aug. 26 (UP) te=The World Bank has authorized
Public works is up 14 per cent|a $33 billion loan to the General|411-12 in the building by Sept. 1.
Administration of Electric Plants [and State Telephones, a Uru-
guayan government-owned | agency.
Three Dwellings
This sturdy two-bedroom dwelling at 1346 W. 23d St. topped recent sales by the McClanahan Realty Co. The transaction was od by W. A. O'Donoghue. Mr. and Mrs. Charles Gibson - purchased the house from Mr. and Mrs. Lewis Krug. ‘Mr, Gibson is "otiiing with. the imiey Manufacturing Co. ~~
¥
. |corporatio| building too kroot Jast May when
=iment:-it-will-be-more than-a-drugitust savings
in & Kuhn, real esate man: agement firm, represented the! owning corporation and the tenants in negotiations. * Meanwhile, work on the concrete and steel structure is keyed for completion by Nov. 1, the n said. The $450,000
the A. V. Stackhouse Co, cleared the site for construction. The drug store, which formerly occupied the corner store, again take the spot location in the new building, Klein & Kuhn announced. However, floor space will spread
area. ‘The all-air conditioned store will operate a 60-foot fountain and expanded prescription depart-
store in design with the latest interior furnishings and color. Merchants. Trucking will operate “Money Mart Currency Ex-| e No. 5 at 117 8. Hiinois St. in the structure. Location in the garage and downtown ‘spot will ‘facilitate the éxchange services of cashing payroll checks, payment of utility bills and sale of money orders. Paul Bosfemeyer Co., distributor of Bel-Tone Hearing Aids, will open quarters at 113 8. IIlnila St. Currently, the op mi
84g 830 State Life Building. Ground oA ‘okation and larger quarters will expedite this operation, the company said. }
‘Duvall Co. Will Move |
Into -Lemcke - Building
The Leslie Duvall Co... 9 lin the Lemcke building this week. | Company manager John L. Duvall announced yesterday firm plans to move from. the. seventh. floor to two bigger rooms at
The company, incorporated in |1946, specializes in realty sdles and rigages loans and invest-
Pavilion Growing Fast
will}
will
stim EES Franklin-D—Richards—eommis-i— sioner of the Federal Housing
. {up in the development keyed
e’
, By LARRY STILLERMAN, The “farmette” entered
posts
site economy in price tag. Six dwellings are up and
to completion before the snow falls. The project is on the Marion-Johnson County line, one-| half mile east of 8. Meridian St. (Road 135.) —— It's the planning of the Bo-Mar|
IConstruction Co. and Underwood- |
Speakers Named
{dwellings will
Simpson Corp., realtors handling | sales. The project will be open for inspection today from 2 to 5; p. m, The small farm idea comes with | the real estate included in the sales price. The two- bedroom |
averaging 90 by 219 feet. almost a half acre, big enough
Johnson County, a selling point against high city taxes; for big town convenience. That's important, here, It was pointed out that the homes are also beyond the metropolitan A-bomb range. Something important to real estate agents on the coasts, and maybe here, too. Nevertheless, economy in planning is also reflected in the price of the houses. The dwellings, all four rooms, will sell for $6950 with sales slips filled out for ex-servicemen only, The project is approved by Veterans = Administration witn cellings set on price and minimums stamped on construction and floor space.
For Detroit Conclave’
Co ing session of their 7th annual’ convention here |.
next month.
hear Dr.
“man of ‘board of 'Standard Oil Co, (Indiana).
Dr Wilson will keynote the
Dr. Wilson
to a 6000-square-foot sales area three-day parley in the Motor and a 4000-square-foot service City, MBA President R. O. Dem-
ing Jr., announced yesterday. He address more than 1800 mortgage, commercial and mu‘bankers, real-estate, life. insurance and title and trust company bfficials expected to attend the convention.” Z
Sparkman Slated Mr. Deming also disclosed other ‘convention speakers will include Sen. John Sparkman (D. Ala.); Rodney M. Lockwood, past president of the National Association of Hpme Builders; James C. Downs Jr, president of Real Estate Research Corp. of Chicago; Enos Curtin, Economic Co-bpera-tion Administration, Washington, TRO 2 EE
Administration; Raymond M. Foley, administrator, and Home Finance Agency; T. B King, director of loan and guar-
tration;
Bankers Association; Samuel E.
Neel. MBA. Washington counsel, and Gene Flack, sales counsel,
speak at the conclave. Officers and new. directors will
ments}:
two-bedroom house at 4712. W. Aug. 12, was arranged by Cleo Carew of the U. S. Navy p
Avatier sary Augart sole. by the: Pils Realty Co. was this
also be elected during the parley, Sept. 27:29.
Beecher St. The sale, completed L. Taylor. He helped Thomas E. ‘the dwelling from Gerard B.
Baker. Mr. Bier | is an re the Indianapolis Raivay.C Ce.
DETROIT, A Aug. Amarioan The Maryland Street Gar Corp., owners of the seven-level, mortgage bankers will receive a The Association also sald buy-|s570. car shat house, said en were signed by the Hook|taste of “liberalism” in the openDrugs, Inc, Merchants Trucking Sorp. ana the Paul Bossemeyer
The Mortgage| Bankers ‘Asso-|i i clation of Ami erica will have a picture of liberal trends affecting U. 8. development after they Robert E. Wilson, chairthe
DRA ph
Housing
anty service, Veterans Adminis-| Edward ¥. Lambrecht, president, Lambrecht Realty Co. of Detroit; Hans Gehrke, president of the Detroit Mortgage
Sunshine Biscuits, Inc.,, will also
Idea
Times Real Estate Editor the county - home building
picture last week with a veterans’ project south of Souths
t's a 38-house development with emphasis on garden
sold and 12 more are going
down ‘will unlock front doors, Monthly payments wil be about $42 including principal, interest, {taxes and insurance. The VAs insured mortgage on a 20-year, 4 per cent basis is being under. written by Railroadmen’s Federal — | Savings & -Loan- Association, The houses will be all-electric dwellings, serviced by septie tanks and deep wells. They'll contain- automatic oil heating and hot water units and hard. wood floors throughout. Closet Area Ample Ample closet area and customs
be on ground| built kitchen cabinets are geared That's! to the home-makers’ needs.
Bo-Mar sald homes planned
for more than just a tomato| would be completed, unless the
patch. .. government puts construction Avold City Taxes materials in the deep freeze. The All the dwellings will be in|building outfit has commitments
from suppliers for materials for the GI project. Most of the dwellings will front on Bowles Ave, a gravel road being linked to the blacks topped County Line Road. Trans= portation to town is at the junction of this road and 8. Me ridian St. Community shopping is at the hub, too. Johnson County school busses skirt the project on the county by-way. This project is in addition to the Underwood-S8impson develops ment going up in Beech Grove, There, the firm, with Victory Housing, Inc., of Southport, is completing a colony of two and three-bedroom dwellings in the $8000 and up range (Times real
The realty agency sald $500 - » ”
estate section, Mar. 19). i . 8A
Down on the 'farmette’ , 5 2 Housing project for avservicr men south of Southport,
‘Real Estate—
-q
Farm
That's
RRR
peek into space for desks and! typewriters and filing cabinets by Mark Griffin, president of the! local association of Building]
‘Owners
managers can do is remodel cur-| rent space areas for more tenants. new construction
Cost of is more than!
{expenditure, .......... That plus traffic. and parking] have always been downtown prob-| lems for office workers and mah-| agers. ‘Some offices have drifted out along N. Meridian St. converting!
Figuring i in August Sales on Indianapolis’ Redlly Row
Store and Office ¢ Space _'Adequate’ in
" ” { HE SAYS the most building!
into more efficient!
rents could bring to amortize the
Indianapolis
National Survey Reveals Mushrooming Of Suburban Park-and-Shop Cenfers
By Times Real Estate Editor Store room and office space in Indianapolis are holding a “adequate and satisfactory” levels. Need for hotels is another story, a sad story. The expanding Indfanapolis economy, spurred by garrison ace tivity; 1. e., ores, hasn't played too much hob with the existing REE IRRIINA “around: the-corner!
‘What formerly. Were “Gold. “Coast homes into what they hope just {plain Gold Coast business, But the office supply here isn't as bad as that reported by real lestate boaras lant May,
survey by the National Associa« tion of REB’s showed retail busi. {ness and office space -in short {supply in more than half of 470 |cities checked. However, in the bigger cities,
~IHeIaTng” TAdIAnapolis, there aps
{peared a larger percentage of of {fice and retail business workers (finding space in which to operate, Most significant, the survey diss
ig Continued on n Page 43, Col. 1)
THE 50TH real estate market
“Mr. and Mrs. Roger R eynolds purchased this rambler at 6105 N. Pennsylvania from Mr. and
St. Brandt two weeks age. ‘The sale highlighted current actions by W, N. W. realtor. Mr + Revnalds is
Waltermire, of the Independent Bit Cou
¥ ¥
Development Stresses Garden Site, Economy
Six Dwellings Up South of Southport With Completion Planned Before Winter
*