Indianapolis Times, Indianapolis, Marion County, 1 October 1950 — Page 41
buy, that’s when they want to. It's psychologieal.
‘ness.
eral speh
ool tote Loa : Business .......... 4143 Aviomablley. Sevwrrvas 3 38
[0 BO ome Bu Rule x
t's below the 1949 peak and way under the “million pace Expected top this year.
By. 1A) LARRY STILLERMAN } Times Real Estate Editor : ! DETROIT, Mich., Sept. 30 — The phantom + formula, Regulation X, won't rattle any credit - | skeletons in Hoosier home purchases. { Indiana delegates to the Mortgage Bankers Association meetings here head&d home today convinced that Regulation X, expected within the month, will: ‘ONE: Trini mortgage rates insured by federal | agencies another five to 10 per cent. TWO: Ask definite down payments of from |
1.
HERE'S HOW the chinges will come with X: { VA today requires at least five per cent down, | $500 on a $10,000 house on their appraisal. The new regulation is expected to ask $1000 on ‘the same. house, remainder of the loan in- | sured by VA. Most Indiana mortgage bankers f { request this minimum now and in some cases +more. { ~~ FHA on the average loan now insures about 30 to 40 per cent on houses bought with conven- | 30 per cent on their appraisal of a house. The tional loans. | “not-so-mysterious X"” will ask about $3000 | Indiana lendérs have been doing all this right | down on a §10,000 house instead of from $2000 along. They're not gouging. They're just making | to. $2500. - sure there’s plenty of equity in the house they | Most conventional loans— (mortgages isunderwrite, that's all. sued without government guaranty)-—on $10,000 Of course the regulation is. keyed to 4licing , houses already require $3000 to $4000 down new home starts, curbing the wild winds of in- in Indiana. There has been no offiftal request flation. It's expected.to knock starts off about | to ask this much. “40 per “cent to around 900,000 units in 1951. | {Continuey on Page 43—Column | +)
Stocks Edge - Up Generally
Next Week in Business— .
Boom Is Linked With ‘Crisis’ : Ene af Utilities Top Gainers Sudden End of War Would Or vou Or * Bring Shift in Public Thinking : By ELMER C. WALZER 2 Y United Press Financial Editor’ By HAROLD H. HARTLEY, Times Business Editor NEW YORK, Sept. 30—Stocks| IF THE WAR ENDED TODAY, or this week, as it ‘managed to edge higher this week easily coul ? in the general average despite a y could, what Would happen?. Fry sharp crackup in the Tuesday How would it ‘affect buying, jobs, prices? session. These simple, and quite plausible, questions already are, At that time, the market an: going the rounds of luncheon club tables. And they are alysts attributed selling to talk of i x : a peace move. When this appeared making soma businessmen turn a little pale. groundless the market came back They know the facts. and the industrial average fin-| : |Rubber Co.—they've all got a big ished with a loss of 28 cents while They've bought their stocks|chunk of government business on the utilities gained 60 cents to| at high prices. Their payrolls their books. bring the general average up six are loaded. Wages are the high-| This may allay your fears. The | cents. est ever. And they've got plenty SOvernment won't stop gettN€| Tne averages didn't tell the of orders. ready for war” but it might be... or many special issues which A quick peace in Korea couldn't bard to sell the people on support- |, eg through wide arcs. Neither change much overnight. But one "8 a big fighting machine when. tney give a true picture of the thing it could change is public, nobody's fighting. ‘railroad group which would thinking. The “crisis” would bel Here's a hint of what public geclined much more than the 26 over,’ thinking does when the.tension .ents shown had it not been for a| Then people would take a sober | igoes off a war. When American $15.50 gain-in New York, Chicago look at some of the things they've [forces jatded 2 yaSehos, food |g gt. Louis Railroad. done in the last féw months, Prices began to drop, one per latile rail responded vigConsumers are saddled with the cent the first week, six per cent oraly ty aaticipation of plans to biggest debt ever. It will take full- the second week. take care of back dividends on/ time employment to pay off. Then there are the manufactur- |) preferred so payments could In Indiana we've picked up a ers who have bank loans. They 1 restored on the common stock. lot of war business, at the Allison are relatively heavy. They would- | Prilco ran up 7! poifits on 4. plants, Stonely, 8, “Bendix, U. 8. not want to get caught with ¢ them. | re nts ty a. two i for-one split proposed by direcg tors. Several other splitups of similar scope were responsible for good gains in their issues. Amer- -| jcan Viscose ran up in anticipation of a stock split and split talk | circulated when Nickel Plate
Motorola Up 6 Points
Motorola ran up 6 points on| the week in anticipation ~ of | sharply higher earnings to come. General Motors was popular in| the motors on a statement by its| president the company can continue record output for the re-| mainder of the year. S- : Utilities, hardest hit issues Gunfire control which means security and bopping Reds, [When the Nar Bro. i, k as * d J the General ithe best performers this week a snow-making and jet engines will be displayed on bri Xilled Nations armies re Electric 10.car streamliner when it comes to town Todor and ported big successes. Their|
Wednesday. It'll take an invitation to get in. gains ranged to nearly two points|
- in the common stocks and to sevFederal Hypo
The key to a maintained prosperity on aleral points in some of the prewar basis Without a war lies with sustain-|ferred .issues. ed government buying. | Some of the so-called war | This maintains the idea of scarcity. sod 3 when buyers can’t issues, including a few coppers) declined. Tobaccos moved higher. So did container issués. Oils had] |several losers. Chemicals were [to buy the tremendous production easier with a few exceptions.| Steels lost ground.. strengthened. {2 The Federal Reserve reported \inidustrial production at a new! high since June, 1945, for September. During the past week,| {business Yet higher on average with gains in such lines as coal, construction, gasoline, kerosine,! steel, and car loadings. These| |were partially offset by losses in| automobile, electricity, crude oil, fuel oil and retail trade.
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I talked with a big dealer last week and he said “This country is producing more food than it * can ever hope to eat. Somebody’s got to buy it. If they don't prices ©f food and merchandise. ! will come down, way down.” | It may take a lot of talk and] That sounds all right. Everyone pressure, insistent beating of the favors lower prices, for the other|war drums, to keep prosperity’ 8! fellow’s products, not his own. head above water. And when prices come down, But in Indiana we can be thank-| wages get hurt, perhaps not the/ful, for our farm areas, our dihourly scale but the take-home, |versified industries and broad If the war ended today, em- labor skills. Even if one segment ployment might ease a little rightl/of the economy goes down, there’ll away, more in a month, e€ven be plenty of others pushing along! more in six months to a year, un-to hold it up. Jéss Russia provokes prepared- If the war ended today, we could get into trouble, I'm not | Plenty and high prices do not sure- And what it will take to! go together. And the only thing save us will be the old doctor! which can maintain both is fed- with the ding, higher taxes.
Auto Output Drops
The decline in automobile outiput which amounted to around
striped pants, standing beside our bed with his hypo load- {3000 units was ascribed to modél
But don’t forget that higher ed with treasury dough. taxes will cut spendable income, Expect that, and you won't be make the wage earner 1658 able wrong. :
trouble at Hudson and some! However, Ward's Automotive! Reports predicted there was no! indication of a coming letdown |
{in the record production pace. Home Builders today reiterated rection of master plumbers and| ile con-| journeymen, cost more than $150,-|
{This week the auto industry in! the United States turned out its) six millionth vehicle of the year. | Steel mills stepped up their | \production slightly. They could! {not go far because a week ago]
| Week's
Mercantiles Washington Blvd. and’ 37% acres JT.
New Toldonts along. Riley Ave. will lve i in n homes. similar to these o on Colorado Ave.
North Side Sales Louis G. Egan to Join Bruce Savage Co. Staff
Include 43 Lots
Salesman Has Been In Furniture Field
From inside-the-house to the entire house is the step Louis G.
Dollar Volume Tops $466,000
Lot sales put the steam behind _, . the North Side real estate express Egan will take tomorrow. } last week. A salesman for furniture and Associated North Side Realtors floor covering companies for the reported 38 transactions and 43 Past 19 years, Mr. Egan dons the pieces of raw acreage were listed complete house toga as a realty in the report, one sale a package Salesman forthe Bruce Savage Co. of 36 lots. The 40-year-old Iowa native The ground group sale gave the will. bring to 17 the number of {J. & L. Realty, Inc., more land for|salesmen and brokers now deal-
|its $6500-$7200 Thrift Home pre- ing in North Side properties for
{fab program in the George Wash- the Real Estate Board president.
ington Parle 1, Enporheed The conversion to real estate (Times, Aug. 13) dealer will fit in smoothly. with
Dollar gross for the transac- ’ {tions in the week ending Sept. 23 Mr. Egan's Backgeound 2 yaicy topped $466,000, paralleling vol- esling (he publie. ang its lume highs for the year. about time I settled down,” he s There were seven other lot sales adds. {in the weekly report, six up North, Mr. Egan began selling follow-land-one- on the Southwest Side. ing graduation from the UniverThe report, submitted by As- sity of Minnesota in 1931. He 'sociation President Warren M. At- also attended Grinnell College in| kinson and ‘Secretary C. Scott|/Iowa. |Padget, enumerated the follow-| For the last five years the new ing transactions: realty salesman has represented Edgar E. Brodbeck Group of Thayer, Inc., (juvenile fufniture)!|
Stuart St., north of E. of Gardner, Mass, 30 loge on a During the war years, Mr. Egan
Butterworth & Teeters — 4540 Park Ave. (Russell Fortune Jr. cq-operating broker) and lot 76 {in Westfield Heights. Jack C. Carr—273 N. Pershing Ave., 46-56 W. 30th St., 1914 C merce Ave. 6036 Crestview Cotp{4850 Guilford Ave. 1125 W. 32d |St., 5800 E. 46th St. in a cross-| Board's sale with the Bruce Savage Co. 28 N. Kitley Ave., 2901-03 E. Mich- | « igan- St., 757 N. Bancroft Ave, {1102 N. Worcester Ave. 761 W.|
“Secretaries’ Seminar.” It shouldn’t, realtors hope.
The “seminar,”
Real Estate Secretaries Start ‘School’ Wednesday
Those secretary-boss gags won't apply to Realtors’ office helpers. At least not after six weeks of schooling in the Real Estate
“student” to have their secretaries learn their duties. dream. child of Real Estate
ne a + Buyers Grab _o 21130 Homes By Grinslade
‘d= 100-Unit Section Located Near School, Shops _
By LARRY STILLERMAN “Times ‘Real Estate Editor
Before the foundations were dug, the houses were pure chased. That's fast- -thoving among 'home- seeking Hoosiers who know a good buy when they
see it, even on paper. Thirty-four families grabbed deeds to the “paper project” along Riley Ave. before construction crews could move in last week. These buyers took one look at the 46 homes nearing completion along Colorado Ave. and scrawled an “0. K.” to the contemplated plans of the Grinslade Construction Co. And those plans call for 34 more two-bedroom frame dwell
Realty Study Will Open Tomorrow
Ethics of Business To Be Discussed
More than 75 aspiring and practicing real estate salesmen are expected to attend the initial {meeting in the second semester .of “how to be a realtor.” The bi-annual six-week Fducation .Course, sponsored by. the {Rcal Estate Board, opens tomor- jngs to go up on the east side of row night in the Antlers Hotel. |Riley Ave. between 16th and 20th | Arnold G. Davis will preside at gts, {the opening session with Edgar) {E. Brodbeck and Firman C. Sims] |speaking on “Ethics of the Real {Estate Business.”
$1.8 Shittion Project
The new development caps a 234-house development along LinGuy H. Williams of the Board's wood, Euclid, Colorado and Ban-
Ethics Committee will speak dur- Croft Aves., a-$1.8 million slice of ing the second hour on * ‘Practical the shelter backlog in that section
{Problems in Ethics.” of town. | The new houses are in the price _ Attendance Compulsory
(range ‘most sought here, $7750. Louis G. Egan {+ The program, arranged by Co- However, the price is up~from was ‘associated with Curtiss Chairmen Hugh A. Teeters and $7475 when Colorado Ave. houses Wright Co. and Allison division | Earl B. Teckemeyer, is open. to hit the paint-and-plaster stage 'of General Motors Corp. here. .jactive, associate and non-mem- |last spring. Before that he sold floor cov- |bers of the Woard. But these houses will go up as erings for Samarkand Rugs of| The two-hour seminars are planned. Materials. are’ coming |New York. compulsory for junior board mem-| from suppliers, * ‘enough for cone Mr. Egan is married and lives DOTY the Education Co-Chairmen said. at 2123 N, Delaware St. __| “Junior members must attend 75 ~ per cent of the talks for -active istatus eligibility on the board. | The sessions, free to board memibers, will cost employees of real-| {tors $10, and the general public, | 1815. | It's a prelude to taking the {board examination and state test| (for real estate licenses. All talks begin at 7 p. m.
It's going to cost them $15 per Board President) ‘Buy or Rent’
(Continued on Page. 42 Cal. 5)
October REB Topics Listed
Talks on Goverment Communism Included
i [25th St. 4304 Park Ave. Bruce Savage, begins Wed
|cross-sale with American Estates {Co., 4545 Lafayette Road and 819 N. Jefferson Ave. | It's being held “to enhance her Driscoll Realty Co.—A double yajue” to the realtor. at 3103 Graceland Ave. and 226 W. 31st St. and 435 W. 31st St.
Gerdenich Realty Co.—Sale .of
typewriters.
Meetings at 7:30 a. m. The. “Seminar” will open with! 11; acres in Meridian Hills. “What I Expect from a Good A. H. M. Graves, Inc.—4109 Secretary” by President Savage. {Guilford .Ave. and adjacent lot, Walt Veon, dean of the school, |5250 Primrose Ave., 2001-03 Ral- Will preside at the opening ses-
ston Ave. and 6900 Grandview Sion. | Ave, | The school will be held at the,
F. M. Knight Realty: Co—2114 Columbia Club, each Wednesday
IN. Talbot Ave., 38-40 S. Colorado starting at 7:30 a. m.
The curriculum was arranged,
| Ave. and lots 49 and 50 in College by Mr. Veon and his committee
Crest addition.
| Johti’ Max Realty *Co.—5821 0f Jane Steadman, B, W. Duck|Federation of Business & Profes-
R. A. Franke, Lewis A. t 66th St. and Michigan Rd. - Haynes, Louis 8. Hensley, Paul Bruce Savage Co.—2844 Quest- Starrett, Wallace C. Tomy and end Drive, 2121 Medford Ave. Chatharine V. Winchester.
day, | in 2 two hours before the girls are due before filing cabinets and 9ession, includes:
| The program, after the initial ‘A rguments
Oct. 11—“Grooming for the «Office, conducted by for ne To Be Aired
{Patrick, stylist with L. 8S. Ayres; |{& Co., and two models. | Oct. 18—"“Using the Telephone,” ‘with Bob Gangstad of the Indiana|
Bell. Telephone Co. giving the] : | |orders, F gving In a written debate, arranged]
|by -. 5 et, 28 Handling the Recep-\w “Cortright and George W| Mr. Foster Mr. Brownson | public wo We oy hg "8: | Proftt pour on the “lsten-to- me” politicians, government and Lilly & Co. and Mr. Starrett of talk on what's the best way to cgmmunism - will be topics for Kael & Kuhn, speaking. jput a roof overhead. {luncheon meetings for Indianape | Nov. 1—“I'm a. Career Girl,’ | In the current issue of Redbook olis realtors during October. 'with a talk by Saily Butler Cust Magazine, Mr. Cortright, execu-| - Real Estate Board President resident of the Cl a 1 tive vice president of the National Bruce Savage yesterday anp a {Association of Home Builders, | nounced pro|says that “now is the best time| grams for board to buy a home.” meetings on Thursdays. this month in the Washington Ho-
THE PROBLEM of buying or| renting a house how will take on| two “official” "arguments this|
sional Women. Nov. 8— ‘Panel ‘Discussion,” | o “i | moderated by Mr. Veon, with the] HE POINTS ¢ out that houses iclassroom participating. now cost less, computed in weeks)
|8300 Spring Mill Road and 8475 rk Ave, ’R. E Walker—5373 Central Plumbers Adopt New Apprentice Training Text
Ave. Ford V. Woods Co.—1944 N. PLUMBERS ARE trying to| {take the joke from their trade.
{Olney St, lot on W. Minnesota St. and S. Whitcomb Ave. and They're developing a new kind of . Araining for apprentices to up|
3714 w, Michigan St. the supply of well-trained’ labor. Part of the comprehensive pro-|
Present Wages Make Home Easier to Buy
WASHINGTON g' ept. 30-
changeover at Studebaker, labor Wages in many industries and gram _is contained in ‘a -seven- ered.by insurance and actually
|classifications have jumped past volume textbook “Plumbing Ap-
shortages at Ford truck plants. |elimbing ‘construction costs, -mak-iprentice Training,” basis of fu-| iment to the insurance carrier.
ing it easjer to buy a home today ture training. than 10 years ago. x x = The National Association of, . THE BOOK, prepared undér. distatistics showing that struction prices have climbed 000 to compile. The complete goal| 111.3 per cent in the past 10 years, of the committee is to give the] the textile worker's pay ‘is “up; ‘plumbing industry an ‘outstand158.4 per cent in the same decade. {ing —educational medium of its] The Association also pointed own for promotion of nation-wide |
— NESTLE STAFF MOVING
: lof work, than they did in 1940.] [Truman Vetoes Pay | Security of horse ownership is the | eystone o Ss ar ent. To Indiana Brewery |" On thé other: “hand, Mr. Promtt,| | WASHINGTON, Sept. 30 (UP) {executive secretary of the Na-| |—President Truman today vetoed {tional Apartment Owners’ Asso-! la bill that would have given the! iclation, argues that renting per-| |Lafayette Brewery, Inc. of La- mits flexibility of movement and | (fayette, Ind., $5642 to cover the income adjustment, both import-| [loss of federal malt liquor stamps ant in these unsettled times. {stolen in January, 1944: Mr. Truman said the award. {would have - compensated the Truckers |company for: losses already cov-
tel. Don Bruce, staff announcer for station WIRE, will open this month’s meeting with a talk on: “Come munism in Indi this Thursday's
Rep. Jacobs anapolis” at luncheon. Mr. Bruce's talk will be fol«, lowed by an address on Oct. 12 Harvey G. Foster, agent in ‘charge of the Federal Bureau of Investigation office here. Mr. Fose iter's topic was not disclosed. On successive Thursdays, Rep. Andrew- “Jacobs and’ Charles Brownsopn, -~ Republican candidate for the 11th district Congressional post, will address the realtors. Rep. Jacobs will speak on Oct, 19, while Mr. son will talk ite the organization’on Oct..26. Al[though not announced, their talks {will probably center on adminis[tration and Congressional issues
in Contest Two Indianapolis truck drivers are in New York. City preparing to compete in the 1950 “Roadeo” of the American Truck{ing Association. Following eliminations Monday and Tuesday, the
{would hdve constituted a pay-
“To require the government to] {assume a risk which in no way |was due to the negligent acts or Safest and most skilled driver. in lomissions of its employees,” Mr. the 48 states: will be chosen Truman said, “would manifestly) Wednesday. : {be unwarranted.” |. Indianapolis participants are! [William K. Wright and John| Waldon, both of. Foster Freight
| NEW YORK, Sept. 30 (UP)—|Lines. | The first group of Nestle Co. em-| Help for Employees
the output figure was 100.4 per! out in fall reports that the ave-| standardization in training ap- ployees left for Colorado Springs, | cent of rated capacity. This! {rage pay check of manufacturing prentices. Col. today. The company is trans-| NEW YORK — Electrical con-in the November election. week it was at 100.7 per. cent industry workers have hopped, The book emphasizes pictorial ferring its executive offices there| tractors have made $850,000 avail-| Fred C. Tucker Jr., board vice and output set a new all-time up 130 per cent while the wages {training rather than lengthy word | from New York. The group in- able at no interest to an electrical president, heads the entertain {record high at 1,942,200 net tons of the army sergeant is up 264 discriptions of how to be a good cluded more ‘than 115 workers and | workers union to be used for ment and program committee for jor steel ingots and castings. _|per cent over. 10 ‘years ago. plumber. | their families. | loans to buy ‘homes. the weekly realtor Juncheons
Two And Three-Bedroom Homes, Double Mark Local Real Estate Transactions
Elsie makes milk, and cream pifchess, too. 0 {
Elsie’s Sideline -Advertising hits the buckbag hard, un-|
less you can get someone else to pay for it. | + Take Borden's “Elsie, the Cow.” She has a prafitable side! racket. Rides around thé country in the plush and it doesn't. «cost Borden's the price of an ice cream cone. oy Tid novelty makers pay the bill, Elsie sells her Yights| for their products, cream pitchers and sugar-bowls, barnyard games, soap figurines, children’s shirts ———>— with Elsie’s picture on them, cent of the people know and like | SS Elsie pins, lamps, handkerchiefs, Elsie. And she’s expected to draw| 2% ~'puszl and Elsie comic books. [the biggest crowds when she ap<|
— g
[THis is sweet for ‘the Borden Pears at the International Dairy
“Co. Itggets millions of dollars Exposition Oct. 7 to 14. Sy _sorth of Elsie advertising with| She'll have her husband along, His name's Elmer.
| others in on her popular-| of course. ity. Elsie gets a eut om every And her little boy. His name's product sold. |Beauregard.. He got his name + What's happening is that Elsie! ‘out of a national contest. 5 trading right up to her ears! Elsie isn’t the first of her kind. on her popularity, like a movie There was the C. & 0.'s “Chessie, | } star indorsing face cream or cig- the Cat.” She “slept like a kitten” arets. You can't blame her. ‘on the C. & O. and persuaded a A survey shows that 89 per lot of other people to do likewise. 2. mi {Continued on Page 43—Column Nn"
”
9100 Westfield Road Mra. 1. E. Banta of Ford V. Woods-& Co., was the slswonisn handling this suburban ‘transaction. She sold this dwelling to Earl Christena of J. DgAdams & Co. for
, Kimbgrlin of H. P, Wasson & Co. easly last month. Sa
: "$250 Primrose ‘Ave. Tr “730.32 N. Bradley Ave. : ‘This two bedroom dwellifig on the North Side topped mid- | Mr. and Mrs. Huey Taylor purchased this four- -rooni: -a-side September sales for Mrs. Mabelle Green of the A. H. M. Graves | double from Mrs. Cova McMakin in another September transaction. Co. Inc.. She helped Mrs. Amelia Ittner sell her house tq IL ro The sale was handled by “H. A. Swafford, local realtor. -The
E. agait TE, asofiatad with the Ei Lilly Co: purchaser is agsociated with the Richardson Rubber C
with "he A 8 of rope
8 Harold Wn Hartley ISH at 3 Pp m, |