Indianapolis Times, Indianapolis, Marion County, 24 September 1950 — Page 42

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THE INDIANAPOLIS TIMES

Outlook 4 the Nation— We'll Remain a Garrison State

Success or Failure in Korea Can't Change Economic Picture

By J. A. LIVINGSTON

AMERICAN SUCCESSES in Korea do not change the eco-

nomic outlook one whit. On the contrary, they emphasize it.

. The United States is still a garrison state, engaged in World|

War II; in order to avold World War III.

‘s Therefore, the rearmament program must continue even after

Us 8. troops push the Korean Reds out of South Korea. Yet some

pedple may now argue that we — —— can cut down on military spend-!

There has been no long spell

ing. They may also argue that, ©f years to give people time to

the emergency has ceased, and Ket over the Post-war Jitiasion, therefore business can go on as ‘Between the War o and udual. . | the Civil War, 3 are slapsed, Yet it can't. Korea is only a] Be nthe ar. an

means to an end. The end is an| years. And between World Wars unflerstanding with Russia. And] Jaseph Stalin understands di- 0 great depression. But ¥illons, aot reason. | World War II just merged

World War I, there were 49

I and II, there were 21 years |

SUNDAY, SEPT. 24, 1950

Two More Houses Go Off North Side Market North Siders Mark 50 Sales Of $627,991

| Year's High; Units | Average $12,559 |

the fifth highest sales report of

the year last week. : They reported 50 property

$12,559 per unit average. And this was slightly above the aver-| age compiled by Associated North Side Realtors so far this year. & | | The higher average sales price

Mr. and Mrs. Joe Reed of Bloomington, purchased this three-bedroom home at 6453 N. Park [uaa attrib hoy bo Pe dp 13

ry transactions | ‘Ave, last month. Joe Berger of the Berger Realty Co. handled the sale for the Fredricks Construc- completed for the week ending!

I an Sept. 16. Sale of raw acreage, of Hence, the economic battle at) right into World War IIl;. tion Co. . : which there . were nine 29 the home is against inflation. To be| So, increasingly, people are be- “ list, brings considerably less

supe, . when. American

troops coming conscious of the decreas-

lahded to attack Seoul, commod-|ing purchasing power of money. ity prices slumped. You'd have|A thousand dollars tucked ‘under thought World War II was a mattress in 1940 would be

over. = Nevertheless, the price trend is still decisively up-of food, clothing and shelter. I

main worth only $580 today—in terms t

ward, as indicated by recent ad-put in the savings bank at 2 vances by Kaiser-Frazer, Nash-/per cent, that $1000 would regKelvinator and Packard on auto- ster $1219, but in buying power

mobiles; by General Electric on|it would represent $707, a loss o refrigerators, dishwashers,

home freezers; by Americanput in U. 8.

andinearly 30 per cent. Had it been savings bonds, at

Woolen, for the fifth time since]2.9 per cent, its retail value would

June, on worsteds. Ibe $773.

y * That helps to explain why, imme. Snyder's Big Jo diately after Korea, cashing E bonds. They wanted to buy refrigerators, washing ma “chines, autos, etc. They feared shortages. that prices might rise some more. was 23 cents lost. The boom in the stock market ————— and the heavy demand for mutual amounts next year and fund shares are suggestive. Peo- peak in 1954. ple are looking about for inflation Snyder's up against:

They'd seen:

hedges. That fact is bound to in-| E Bonds fluence Washington policies more! Year Falling Due .and more in the months ahead, 1951 ......... $ 1,109,100,000 .especially as defense expenditures| 1952 ......... 3,920,700,000 rise and the Treasury has to sell, 1953 ..... sees 5,432,000,000 more bonds to the public. | 1954 ...v00... 6,047,100,000 Secretary of the Treasury Sny-| 1955 ......... 4,811,600,000 “der has to face the men and| 1956 ......... 2,481,600,000 women to whom Secretary of the, 1957 ........ « 2,607,700,000 Treasury Morgenthau sold baby 1958 ..... . 2,921,700,000 ‘bonds in the days after Pearl| 1959 ........ . 3,157,700,000 Harbor. The E bonds (you pay| 1960 ......... 2,130,700,000

$18.75 and get back $25 in 10 ‘years) begin coming due in large!

, Total ......$34,619,900,000

¥ SIGN OF INFLATION? Post-Kotean rise in war bond redemptions suggests flight from dollars into things. Sales & Redemptions of 'T Bonds S00

“Disinflation these bonds to extend the Treasury's credit, that is, to exchange them for some other security he may offer.

people began

But also they feared A dollar saved

reach a| Here's what Mr, |

9 Mr. Snyder's task is to persuade holders o |

{ anapolis Life Insurance Co.

In addition, he will have §o persuade these holders and other|

persons to buy more bonds to finance the defense program. There-) and Maurice C. Mackey, [ Franklin D. Richards, commisfore, from Mr. Snyder's viewpoint, the rise in the cost of living must Mortgages, Inc.; F. E. Turner Jr. 6

be checked. Only “disinflation” can reverse the dash for cash, the fear that money won't be what it was.

So, an administration that has always been for “easy money,” full employment, and ri wages will be forced by ! fiscal housekeeping to control : credit, to restrain wages, and : impose high taxes, even on ; lower-income groups. : Already, Washington is hint- : Ing that eurbs on housing loans -+ will cut down housing starts in 1951 to around 800,000, ‘as . against 1,250,000 this year.

major issue in the 1952 President-| ial campaign.

rascals out who filched their sav-| |ings.” Thus, the current mode of| thought—that more inflation’s| go down some more-—may get a temporary reversal. “Disinflation” may become the |dominant domestic policy of Mr.| Truman and Mr. Snyder. {

now proposed. And the danger is that success in Korea, by dis-

People will want to “throw the Gasaway, H. Duff Vilm Co.

ahead, that the dollar's going to, Marion County Residential | | Builders,

But that would call for high| also expected at the MBA meettaxes—much higher than those| Ings.

pelling the sense of emergency, |

If the administration doesn’t | will shy the next Congress away

‘act, inflation is certain to be a’from-its task.

"How to Be a Realtor’ Course Will Open Oct. 2

Two-Hour, Six-Week Seminar To Be Conducted in Antlers Hotel

The second semester in this year's “how to be a realtor” will open Oct, 2,

The bjennial education course sponsored by the Indianapolis] Research Corp. of Chicago will . Real Estate Board dusts off the activity slate for. local real estate| discuss the real estate view- “ businessmen next week. ) « -

The two-hour six-week seminar will again be held in the Antlers Hotel with all Monday sessions —r -- . starting at 7 p. m. erties and loans in the local Education Co-Chairman Earl B, market. Teckemeyer and Hugh A. Teeters said the course is open to active, PY Arnold G. Davis, will be di : associate and non-members of the Vided into two lectures. Board and compulsory to junior hour will be devoted to “Ethics members, : : Junior members must attend 75 percent of the meetings to be eligible for active Board membership, the program directors said.

Firman C. Sims and Edgar E, Brodbeck speaking.

| “Mid-Century Barometer Read-

| vice president of the New Eng- |

! on problems of the institutional

Mortgage Men to Seek Tips on Trend of Money

{than residential units. Marked Activity

But the sales continued to show the marked activity among home| |buyers and sellers in Marion] {County. | The list as submitted by Chair-| man Warren M. Atkinson and | Secretary C. Scott Padget to the {Real Estate Board for compila{tion recorded the following sales:

| | | {

[Ave,, 1905 E.. Broad Ripple Ave.,! 6075 Riverview Drive in a cross-| |sale with American Estates Co.,| {2150 E. 67th St., 1301 E. Kessler Blvd., 2202 E. 86th St. 6608 N.| Keystone Ave. 6453 Park Ave! 5430 Carvel Ave. 5434 Carvel Ave. and lot 31 in McCulloch &| Hahus N. Meridian Addition in a cross-sale With the Harry L. Rob-! {bins Realty Co. ‘ | W. L. Bridges & Son 434-436 Linwood Ave., 714 N. Drexel Ave.,! |1827 E. 64th St., 1823 E. 64th St.| and 3202 Medford Ave. in a cross-| sale with Butterworth & Teeters.|

Jack C. Carr—>5102 N. Illinois| |St., 1057 W. 34th St., 3805 E. 62nd |

Herbert H. Kelso, owner of Holly Hock Hill (North Side restaurant), bought this three-bedroom home at 8101 Broadway. Hans H. Bauck, with Adams, Inc., sold the home on Sept. 7. The sale was handled by Norman L. Hammer, of the Hammer Realty Co.

FHA Here Needs Larger Quarters

time controls. Now the bankers and brokers want to know what's

coming next. Leading the Indianapolis delegation to the convention will be H. Duff Vilm, head of the mortgage company here using his name. .

30th St. and 30-30% N. Temple Ave. | | Gerdenich Realty Co. — 5301 | Kessler Blvd. | | Gregory & Appel, Inc.—851 E.| Kessler Blvd., 260 S. Manhattan ; i8t., 1410 Winfield Ave., 1840 E.| Although its business is down|i0th St., lot at 77th and N. Merid-| la little from earlier monthly|jan Sts, 6602 N. Keystone Ave. |highs, Federal Housing Adminis-|4446 N. Kingsley Drive and 10 {tration here needs larger quar-|gcres at E. 86th St.

(Continued From Page 41)

|ters.

Week's Report Among |

North Side realtors notched

transactions worth $627,997, a|

Joe Berger — 6968 Evanston)

~|St., 5348 Rosslyn Ave, 634 W. 35

Sell Rookwood, Capitol Aves. Homes

: a a Mr. and Mrs. Herbert B. Taylor sold their four-bedroom home at 4133 Rookwood Ave. to the National Christian Missionary Convention, Disciples of Christ. The sale was made by J. M. Marcum on Sept. 6.

a ; aT This three-bedroom home at 5124 N. Capitol Ave. was purchased last month by Dr. J. C. Travis. Ralph B, Coble, salesman for Frederick B. Cline, handled the sale for Mrs. ©. B. Thomas.

Livestock Prices Hold Firm Despite Heavy Run on Cattle

| FHA Administrator R. Earl {Peters announced yesterday plans Ito move the state headquarters

Mr. Vilm is also slated to become a member of the seven-man Board of Governors in the Association. His name will be submitted to the convention for confirmation to the post during the parley. The local broker will serve on the Board until 1954, joining bankers and regional vicepresidents in setting policy for the association through 1954. : : Milton T. MacDonald of Jersey City, N. J., is slated to succeed R. O. Deming Jr. as president Mr. Foley {Ave., now draft headquarters. of the Association for 1951. FHA will function in the new ‘Advance registration also listed 11 other Indianapolis lenders [headquarters starting Oct. 2, Mr. and investors as delegates to the convention. Besides Mr. Vilm, | Peters said. : others attending Include :Willard Maple of the Union Federal The FHA state chief also reSavings & Loan Association; Norman A. Cox and Frank H. Dunn (ported his agency has been of American United Life Insurance Co.; Booth T. and Donald |authorized to hire three more emJameson of Equitable Securities Co.; Charles F. Brewer, Indi- Ployees, an analyst and two jclerks. This will bring to 125 the number of workers processing applications for FHA guaranteed loans for building.

{tury Bldg. now nerve center of Veterans Administration. | The move will be made on Sept. {30 into the structure at 36 S [Pennsylvania St. from the Marott Bldg, 342 Massachusetts

Others will be Burchard Carr j—

sioner, F.H. A. Washington;

Life Insurance Co.; | T. B. King, director of loan

Wayne Harryman, United

Gehrke, president, Detroit Mort- | gage Bankers Association; Sam-

Peters, state adminfstrator of FHA, as well as other Hoosier convention-time registrants are

N . Estate Boards, said recommenda-| convention will review economic In conjunction with the con- \ 0 « for such a promotion camproblems confronting the na- | vention, the Association will |paign will be made at the 43d an- | tion, Mr. Deming announced. | Shonser te Teh annual ediion 'nual convention of the association $ scussion, is N . In a symposium di finance homes, the Exhibit of jie November

Buildings, Industry ahd Serv- |, .. five-year ices. ! .

1 i. . drive at the annual convention of «eading American corpora- tne jowa Real Estate Association tions in the home and office

esterday at: Des Moines. equipment field will be among y ¥ ©

i io fas . Preliminaries Done Dans participating in: the dis He sald preliminary work has

. . been done for the possibilities of Running concurrently with ; 3 Po, | the parley will be the Associa- such a program which “would

investor and James C. Downs | tion's Mortgage Servicing Cen- {probably Genter around a cost:

] ito-coast radio program, featuring Jr. president of the Real Estate | fer. a program designed for | "qn iin on meno show.” office "And servicing managers

Mr. Keyserling's talk at the

ing of the Nation's Economy,” Enos Curtin of the Economic Co-operation Administration | {European ‘Recovery Program headquarters) will discuss world viewpoints; Sherwin C. Badger, |

land Life Insurance Co. will talk

He said the program “will not

{ and controllers of mortgage attempt to sell the products or point.’ , banking Institutions to illus- 'garyices of any business or trade * ® = trate the latest and most efM- group.” : OTHER speakers include Clent methods of handling “It will be developed for support Ben. John Sparkmen, of Ala- | Mortgage loans by all segements of the housing | bama; Dr. Robert” E, Wilson, x & =» industry,” the real estate leader

The opening session, moderated! chairman of the board of the The first, Rodney M. of the Real Estate Business,'“with past president wi | tional Associa-

Guy H. Willlams, chalrman of! tion of the Ethics Committee, will speak! Builders:

said. . Delegates to the NAREB parley in Miami Beach, Fla., this November will be told of more extensive program plans, .

GENE FLACK of Sunshine Biscuits, Inc., will speak at the opening night dinner and delegates will also hear I.t. leslie R. Groves at the Thurs-

day night banquet. Gen. Groves 3 More Concerns Join formerly headed the Manhatten Construction League

Standard Oil Co., of Indiana; |

~~ m

l.ockwood Gen. of the NaHome Ar-

on “Practical Problems in Ethics” J! Fush- | project which developed the Three more building industry The sessions, free to Board mem- . tur J, firms were added to membership bérs. will cost 1 ¢/In the second hour of the’ initial. man, vice pres atom bomb. vd bers, i cost employees o lect Manu. . _ rosters of the Construction realtors $10 and the general ecture, ident, Manu There will be tours of Green I t Indis li bie, $15 | Other sessions: | facturers Na- i fleld Village and the Ford Mu- “3830 0 a ana po is. CT ; OW ood iil peek on rhe indiens hess tional Bank, | seum at Dearborn, Mich. for 0 A Te al Or a a Two Lectures First Night | Estate License Law." “Detroit; Ray- wives of delegates attending pony pr Ip Wilson ica ona Topflight realtors and mortgage 5 | -Oral a ain ie) mond M. Fo- Gen. Groves | the convention. On Friday, fol- Evanston Ave: D. D Bray Co brokers will give the lowdown on Residential Property. Saul starrett will; ley, adminis- | lowing the close of sessions, ,.0"\ None St. and Donie En. how to list, sell and service prop-| Fioperty °" ~~ APPTMtInE Investment] tor, Housing and Home Fi- | delegates will also tour the : St. nie En- - nn ——_ — 0

et. 23--Willlam P Jsunines plesiging Everett (3. Bickell. Robert L. Mason and Clifford R

Dullding - Oct. 30-Wayne W. Whiffing persiding. A film from the National Association of al Estate Boards on “How t

Krabbenhoft will speak on —

0 . NOW ’ Jertise will be supplemented by a talk | y George ; CLEVELAND Nov. 6-Mr. Teckemeyer and Mr. Teeters *. presiding. The co-chairmen will speak on SIE Sede . {Questions overed in the Realtor 0 | | e p | Pamination o . | With | Pred C. Tucker Jr, Robert H. Graves | Robert M. Butterworth, Michael A Quinn WALL FLAME BURNER and Mead P. Knight will speak on “How 1 Sold that House.” . sientr.cLEAN-EconomicaL | Two Put on Realtor

List Pending Test

nance Agency, Washington; | Ford Motor Co. plant. gineering Sales, 1402 N. Alabama

{into the second floor of the Cen-|

He urged inauguration of a|Bridges & Son, Inc.: Robert Lane

nation-wide with H. Duff Vilm Mortgage Co.

| Norman L. Hammer—7022 N.. CHICAGO, Sept. 23 (UP)—Live- last week when market action {Park Ave. and 7497 Dean Road.'stock markets held pretty firmly was the slowest yet seen this sea- | Fred T. Hill—250:W. 44th St. to their present price standing son. | Knight Realty Co.—1546 8. here this week despite several, The closing top was $22 per |Harding St. factors, including the year’s larg- hundred pounds, the same as Fri- | John Max Realty Co.—Lot 19 est run of cattle, that ordinarily day a week ago, but as much as /in Allisville Estates and 20 acres spell out losses. $22.25 was paid during the elapsed ‘at 91st St. and Washington Blvd. Although pork values were low- five-day period. Most good and | Bruce Savage Co.—2854 N.er in wholesale markets, hogs choice 200 to 300 pound butchers {Delaware St, 2255 Riverside made an upturn of 25 to 50 cents, last sold at $21.25 to $22. Those {Drive in a cross-sale with Edgar which was particularly significant scaling 170 to 190 pounds were |E. Brodbeck, 3750 E. Fall Creek considering that prices last week taken at the time for $20.50 to {Blvd., 5740 Rolling Ridge Road dropped to a new low since June. $21.25,

land the Risser property along Cattle receipts reached a new Sows ruled steady to 50 cents

{White River. 1950 high of 40,800 head in a week higher for the week with most Fred C. Tucker Co.-—5821 Nor- which alse 1ncluded a non-advance on weights over 375 waldo Ave. and 100 acres in slaughtering Jewish holiday. But pounds. Friday's market was $20

{Traders Point. the market was not half bad. For to $21.25 for sows under 400 Walt Veon Co.—5131 Maple instance, steers and yearlings pounds while heavier weights Lane, 3723 N. Bancroft Ave. 330 came out no worse than 50 cents'went at $20.25 down to $18.25. {N. Wishert Drive and 3851 Guil- lower. Steer Prices Off ford Ave. In a cross-sale with the Price shifts in sheep were mi-| 1p the cattle market, the only F. C. Tucker Co. nor with a recent lower leaning steers to drop more than 50 cents Robert E. Walker— Lots 35 and only offsetting an earlier gain. were a few high-medium to low-

136 at the corner of Wellington Slaughter ewes went up 50 centsichoice 1200-pound kinds which

Drive and E. Holliday Drive. to a new crop high before nres- were off 50 to 75 cents. Top of Ford V. Woods—4108 Troy sure developed against heavy $33.75 was paid for two loads of ve. weights on which discounts were choice and prime 1250 and 1300 — tiene asked. {pound steers. Five Pass Exams Hog Trading Active { Cows sold steady to 50 cents . Trading in hogs, Which fca- !awer but higher prices were paid As Active Realtors tured only moderate receipts and for heifers, bulls, stockers and Five new salesmen and brokers'a good demand on shipper ac- feeders and vealers, the latter were named realtors last week by count, was much more active than being up $1. the Indianapolis Real Estate| Ee —— Board, Having passed their examina-| tion for active status, the new, Board members are William Haw-| ley and Edward Johnson of the Jack C. Carr Co. East Side branch; Helen Hirt with W. L.

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Tue UntoN Trust CoMPANY , OF INDIANAPOLIS

Notice of Shareholders’ Meeting

Notice is hereby given that pursuant to call of its Ditectors, a special meeting of the shareholders of The Union Trust Company of Indianapolis will be held at its banking house at 120 East Market Street, in the City of Indianapolis, State of Indiana, on Thursday, October City of Indi lis, State of Indi

- THE INDIANA NATIONAL BANK OF INDIANAPOLIS Notice of Shareholders’ Meeting

Notice is hereby given that pursuant to call of its Directors, a special meeting of the shareholders of The Indiana National Bank of Indianapolis will be held at its banking house at 3 Virginia Avenue in the 3. Ox Be

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Two real estate .salesmen were named to active classification with the Real Estate Board last week pending passing of the realtor examination. Board directors. also approved the active reinstatement of Booth T. Jameson of Equitable Securities Co., former realtor and currently associate. member of the organizatign, Sa is | Applications of James E. Murpby with Atkinson & Co. and John W. Wallace with the F. C, {Tucker Co. were approved for ac-

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19, 1950 at 1:30 o'clock P. M. (C.5.T), for the purpose of considering at 11:00 o'clock A. M. (CS.T.) and determining by vote whether an agreement to merge and con- > solidate the said Bank and Trust Company and The Indiana National Bank of Indianapolis, located in the City of Indianapolis, State of Indiana, under the provisions of the laws of the United States shall be adopted, ratified and confirmed and for the purpose of voting upon any other matteis incidental to the proposed merger and consolidation of Yhe two banks. A copy of the aforesaid Agreement approved by the Board’ of Directors of The { nion Trust Company of Indianapolis and executed by a majority of the Directors of The Indiana National Bank of Indianapolis, providing for the consolidation, is on file at tfie Bank and may be inspected during business hours.

SY ORDER OF THE BOARD OF DIRECTORS. / : CLARENCE R. KUSS, Secretory

in the City of Indianapolis, State the laws of the United States, shal

= National Bank of Indianapolis and

hours.

determining by vote whether.an agreement to merge and consolidate the said Bank and The Union Trust Company of Indianapolis, located

the purpose of voting upon any other matters incidental to the proposed merger and consolidation of the two banks. A copy of the aforesaid Agreement executed by a majority of the Directors of The Indiana

of The Union Trust Company of Indianapolis, providing for the consolidation, is on file at the Bank and may be inspected during business

BY ORDER OF THE BOARD OF DIRECTORS.

Th a . Of a7 ¥70V

TET

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Compe in the 1 Show ne tries fro tects. Show Frank C day desig year” m Home 8I Nov. 15. Entries

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in impr homes,” |

, C. Lenno

He out petition f{ temporar more tha or withot Re Mr. Ler have thre spaces fo alcove, k utility an room an room co water clo the hous: also requ The wi a reality April in t ing, Mr, Cash a those des! in. satisf problem he said. additiona pleting supervisir in the Hi

‘ Judges Normile, Better H zine; Dor dent of | Architect: of the Mas Builders, president Power & well Richar( architect, adviser fi

Real Loc NP/

(Contir the car s be slow t« stocks. Inventory Already “many lu close dow time beca to store they can

‘Worse

MANY lleved pi rent and trols, as Housing Woods, h coming le Mr. Wi impose co ing and i erties and His nev gestions | whether ( to act upc trols expi And ev bated, th litical cai passage ¢ The pal most par much of properties one realtc

WHAT with the effort wa Mr. Woo “If ther Bernard over ever said Ber 8pann Co piecemeal tics, right Mr. Du

BEAU col DU

i 15% Down Payment Cs 18 Months on Balance

WE SELL .@ WE SERVICE Open Evenings Till 9

"HOME MODERNIZERS

for the purpose of considering and

of Indiana; under the provisions of | be ratified and confirmed, and for

approved by the Board of Directors

J. KURT MAHRDT, Cashier

2624 N. Harding St. TA. 4446

’ PR ——