Indianapolis Times, Indianapolis, Marion County, 8 October 1950 — Page 45

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SUNDAY, OCTOBER 8,1950 . rn -

Biggest Housing Ye

Real Extate oo hon Business : L Small Home Plans .ccovuss 47

4547 Casas atan ses 45.47

hd SS —————— cee -

Fi Wack i Bosman 300 to Take

Industry Alert ay nt For Changes State Realty

. Magnates Are Watching Pulse Friday | Washington Closely | : By HAROLD i. HARTLEY, Times Business Editor | Association fo Hold ENGINEERS who pilot the big business diesels have. Two-Day Convention their heads out the cab windows, their eyes glued to the! ' At French Lick ' tracks, their hands easing off the throttle a trifle. Hoosier Tealtars.. will take: an There's something ahead, a bend in the track or a hard- other barometer reading of their pulling hill. And they are watching the Washington sema- | industry next week. phores closely for the tell-tale lights—red, green or yellow. |

There's a rush for bor-|, ie mar look will be made right in In|beginning to fall like manna Over | 4iana’s front yard.

rowed money. Increased pro the state. And the production) woo oyna 300 Indiana realtors, ductiop_means bigger inven- pumps are running warm to make iders and mortgage lenders tories, more plant investment, money while it still can be made. a i; will take time and interest rates are edging up.| np Indfanapolis real estate, new, a " off to loll in the There's some shopping in the nome building is getting cautious. rustling fall “shack country” for banks to in-/There is little or no speculative nipped hills crease their charges. building. If you contract for a around French But summary thinking in In- new house, like as not the builder Lick. But at the diana still clings to the view that will insist on an escalator clause same. time the government's going to empty to cover labor and material rises they'll settle | the Treasury and stretch its own/| Commercial building is moving down to serious i borrowing power to the limit along briskly, and the prices of appraisal of real getting ready for a big war that‘older houses are getting sweeter, estate. has yet to happen. by the day. It'll be the These are the milk-and-honey, In buying an older home, you 37th annual condays with a steady rise in gov- get the package all wrapped up vention of the ernment spending, still few con- and delivered, no change in price, Indiana Real trols, no excess taxes. Orders are'and you see what you get. Estate Association, a two-day

eae Employers are on the fence labor- Parley in the French Lick Springs Two Prosperities wise. The market for the men and Hotel opening Friday.

women who punch time clocks is slightly looser than two weeks ago. But they're holding tight. Personnel men began hiring ‘older men,” well out of reach of the draft, and women, But they are caught between two pulls at the same time. ) ch - i te - : {appraising and try to outline betOne is the peacetime prosperity ™|C"' Tesistence. | ter servicing feafures for Indiana in cars, TV, appliances, homes ceptions, but business does not! y ome buyers and sellers. and furnishings, the other is the want strike shutdowns, and as, The calks in shop-seminars will

Mr. Snyder

To Review Problems

* They'll review the problems of general and farm brokerage and

There are ex-

increasing stream of “War Or- ono ag there are no price con- be given by Hoosiers with FredBashaw

ders” to feed and equip the 3.5 erick J. of the Boston, + million-man fighting force. ) Mass., Institute The straight war orders are increases and pass them on to of Real Estate going to the Allison Division of their customers. | Practice and ApGeneral Motors, Bendix at Sou”, There are harder days ahead, prajser David i: Bend, Stokely’s, Kingan's aad most businessmen believe, 3nd Montani of Los | other food packers. [they are enjoying a little breather| Angeles pointing RCA, Western Electric and P. before the clampdown, getting in! gut the coastal} R. ‘Mallory’s have pretty wellja few extra rounds of golf on the ways and means. mopped up the supply of women browning . fairways, and hitting] Headline talks factory workers. And the Naval/the open road on Saturdays for will highlight Ordnance plant, Allison's and the football stadiums. {luncheons and Chevrolet Body have tapped the Yesterday one secretary report- dinners at the: 1 pool of male labor vigorously. ‘ed her boss “out for the day.” parley. TE 4 Unions caught onto the short- “Football?” she was asked. Calin K. Mr. Binns age long ago, and are pressing] “Yes sir,” she replied, “you're Snyder, secre- : for wage increases without too clairvoyant.” tary of the Realtors’ Washington

._ Committee, .will speak on “The Department stores are working Pre-Yule Warmup

fhe war virus out of their sys-| Washington Scene” at Friday's tems.

Sales are up in some lines, off in others. on Tt Wenzliek, Jelly One of the big drops came in nylon stockings. Women were ve his “Real Estate Forecasts” less excited about a possible shortage of what it takes to make

at Saturday's noon meeting-meal. an ankle trim and slick Bae ol 1 pe En | , On Friday evening, Col. Phillip u : > |

x . ‘time paychecks. But there's F. LaFollette, former of television, radios, washers, were} plenty pay help for this pleasant Wisconsin, will address the parley

trols, they .can pay the wage

holding up well, although there|, 7 “0 and there will bejon “The Time to Awaken Is .

was iy cholggteal let-down' the Christmas rush which Now." wi - | Said one big merchant: “It ad] stare owners predict will be a too much scare in it. Doeswt{gat, es expect {5 Teel the Closing the convention Saturs h as people! e sto i a nearly ae mye peop coming setback in housing in 48¥ night, Arthur W. Binns of Tenses He Cheets are scarce and furnishings departments. Wives Philadelphia, trustee of the Urban

; be. That doesn't mean : ll will be bare. It's a mat-/on new carpets, drapes and fur-/s¢ating the Fundamentals.”

Trustee to Speak

Mr. Rude

ter of the mills catching up withpiture, oR Fewer Domes uit] Members fiom 40. Hoosier real the war grab. [there ‘estate boards will also name a | “ teds” in the successor to Association President! out the war dance selection of impor | | in a were laying in hard stores by Christmas. It will be Roscoe Martin of Logansport in -| d soft woolen|election session Saturday afterwhere théy ought to be, but buy- | mostly gloves an ers are ine more attention to!lines, priced on the high side. noon. they look |sales machinery for the holiday be luncheons, book reviews and Department stores have felt a|stampede. It will start earlier, fashion shows for wives of delerls drawn to the production month. *D. Eckel of Crawfordsville will lines in hope of rolling up over-! Get your list, get going. markets napping. They knew that meant pan- EN , re ready. na : * wakes ahd they we of pancake flour apiece. Frank Rude Joins g hen bl They Know mid-September. And Ww Yi unloaded their warehouses. And that’s bad news to the peo- John Max Staff 4 points. They'll Frank M. Rude doesn’t intend _|load-up to beat red points. ey Said one supermarket. operator Ibe eating beef a few cents higher | : “I doubt if many women Know, an they can buy it at their | fire, but he does hope to add a little spark to sales transacted lar wheat flour.” Shortenings are due to g0 UP py the John Max Eggs, Grade A large, which again after three hefty rises. Realty Co. " hit 70 cents. Wise shoppers were |gell for 94 cents, but it's on the jitfle experience sticking to the Grade A mediums, | “football list,” selling under cost, with sparks and money. in the independents. |ations. : Eggs, 1 hear, soon will be on; Most prices are leveling, even| Mr. Rude, who Meat showed signs qf dropping. sausages and canned corned beef.|gije real estate There will be about a pound more Good war news did that. } (firm last week,’ the projected 3.5 million army fs Best buy: Canned apricots, if You! man, He has also fed. like them, at 29 cents. ‘been associated i Bert Essex in the realty business | here. {native left the fire department in 11940 after 30 years service. Now {years of “resting.” he said. | A resident here since 1908, Mr. ‘tate salesman examination next BE! month.. He lives here with his 2 y : "formerly resided in the’ Butler New Plymouths for the F. R. Jones Red Cab fleet. These ten University district on Buckihg- : : + ——————————_ - B i Co., to F. R. Jones, cab operator. Third from left is Clayton Evans 7 = and V. O. Jones of the Jones Auto Co. It's part of 25 including Position Filled > In REB Office

The soft lines, that's apparel, You can expect to find a good goods, are back in the swim, not mostly extra quality goods, the annual committee report and ‘covering themselves up, and how! The stores are oiling up their, Besides the meetings, there will little factory tug at personnel, perhaps the middle of’ this gates to the convention. William Flapjacks Nippy weather last week didn’t catch the superThe chains put in a couple of cars Tsmigmnfig Thorns It was the prepared mixes. ple who filled deep freezers, the to set the real estate world on “how to make pancakes with regu- p ¢oher's. make a pancake worthwhile had! Coffee climbed 3 cents, should, He’s had a . they got more ounces for their and was ticketed at 87c and 88c p ealty opertheir way down. It's about time. Spam-type canned meats, Vienna joined the North: per person this year, even after! But canned fruits will be up.\ig a retired fire-, with t he late | The 63-year-old Columbus, Ind., * 'he wants to “get active” after-10 {Rude plans. to take the real eswife at 3355 Carroliton Ave. and were delivered Friday by O. M. Jones, left, of the Jones Auto ‘ham Drive. three eight-passenger DeSoto limousines in the order,

Nearly everybody's glad to see W. Washington St.

This time the check up and out-|

“idea.

| are materializing.

moving into new homes insisted | Land Institute, will speak on “Re-|

Is Seminar Topic

rban Living,

Ev § RATERS

Typical of homes nestling in Hamilton Hills is this architectural gem now occupied by the

Hamilton Hills, Sparkling Site Growing

Ward Broady Jr. family

; rapid gait at least tii THERE'S A SHOWPLACE of Hoosier homes-with-comfort 71 “OT ST &T. = Tan. f : Sgat unui anger growing slowly over the nub of the northeast corner of the county. ] [= || The realty market reflects

It’s turning the rolling farm lands of Hamilton County into a suburban haven of luxurious living. Ne // The development of what formerly was part of the old Hare / farm has been going on for several years and since last spring with accentuated effort.

a H u u » n THE CHANGE in the tranquil country scéne is a ‘dream Him come true” for J. W. Speicher. It’s the type of homes project he's planned since 1917 when he first swept into realty activity here. Today there are five homes nearing completion, five up and plans crystalizing for 30 more dwellings, all in the -$25,000 to $30,000 range. ’ . But the development of homes is only part of a long-range There will also be a picnic-playground area for the community and a farm in which property owners can share in the produce. That's the idea sharp-eyed Mr, Speicher has had since he helped develop The Highlands, a fashionable home site between | Michigan Rd. and the Highland Golf .Course. That was 25 years | ago when Mr. Speicher was associated with Lawrence and Russ | Lookabill in the Reliable Realty Co. Now with the ownership of 80 acres between 96th and 101st | St. and the Allisonville and “Hare” Roads, Mr. Speicher’s plans

~ Ed = 5 = » . | HE OBTAINED this property 11 years ago in a trade with the | late J. W. Jordan, secretary of Thomson & McKinnon (investment | . : brokers).

FARM LAND)

Pr. ys Tie <» : 2 7 ‘I 1 EL | <a Gs =

mi a. mw, ) w . 4

ar Here Home Starts In 9 Months Top 1949 Tota

'building and buying year on record in Marion County.

{months what it took them all of 1949 to-do.

{starts the units begun last year {and exceeded by more than §5 {million the value of their pro|duction.

and sque.zes along the material {and manpower line are beginning |to chip at one of the main props {under the county’s building econ|omy.

{still sailing along high, wide and handsome. It

number of starts. However, most > houses months after foundations are dug. | Therefore, the_.slowdown in con |struction will show up in real |estate activity century year slips into 1951,

and -more looming, mortgage men are sayling the dollar today will buy

September Figures Show Boom Starting To Slow Down

By LARRY STILLERMAN Times Real Estate Editor

This is the biggest home

Builders have done in nine

They've equaled in number of

But the boom is stowing, alhough the need isn’t. Credit controls already in force

However, real estate activity is

will continue its

are sold three to five

after the mid-

Price Hikes Seen

And with more controls on tap mandatory cutbacks

Boga |||

But it remained, for the most part, farm land until Mr. Aerial view drawn Speicher’s boys, William and Kenneth, returned from service. i Then Highland Realty, Inc.,, was formed and Hamilton Hills [became more than a dream. ‘ i In the years before Hamilton Hills, the Speichers developed

+—TFrailer City, a 200-trailer homes project near Bridgeport, Ind.

. ~ rd " » » - HAMILTON HILLS isn't a project determined in dollars. Its value is predicated on soft, easy-going Hoosier living. For each home has almost two acres of ground upon which to project the type of life Mr. Speicher wants for himself and his neighbors. . - | y To help owners attain the luxurious and pleasant living, Mr. : Speicher helps them plan and then build their homes. He and the | prospective builder “measure’ the rolling fields and select that | pocket of real estate best suited for the type house planned. | tr R av Besides, the home-builders have the agile services of Bert | Soduy hg fough fe ‘ Sunaay. a Strickler as general contractor, He's a builder of buildings and | " nae P :

Hamilton Hills . . . a luxurious suburban haven.

Careless Personal Habits

reountry,—————— -

Cause Most Home Fires

There's One Chance in 20 You'll Have Blaze in Your Home Within Five Years

by J. Hugh O'Donnell, Times Staff Artist.

year ‘round observance.

homes in New York and Miami, contemporary and sturdy | . There is one chance in a hundred that there will be a fire in

structures.

| your home this year—and one chance in twenty that you'll have

; y The park-picnic area and the silver stream slicing the Hills | a home fire during the next fire years.

are part of a plan yet to come, he said. But it'll be a big part | | of the community. | —be careful.

» = = » » ~ ALREADY LIVING in Hamilton Hills are Russell Jones, in | < the personnel division of Allison's; Ward Broady Jr. cement ing of Nghtey mslehis Ind anes | contractor; Mrs. Georgiana N. Irvine; Joe Wilmoth, Remington |¢or nearly 30 per cent of all fires. Rand representative here, and Thaddeus Perry, Allison's engineer. | {se of gasoline or other inflamOf the homes nearing completion, Richard H. Brookes, Link- | panies for cleaning clothing, open Belt official; Edwin Austin, insurance agent; Howard C. Johnson, [fireplaces without fire screens, carpet district salesman, and Leo Porter, insurance agent, are | rb ee -

new owner-builders. ; : . Son Kenneth is also duplicating a 2500-3quare-foot rambler, | g d es . Top $619,000

a prize home picked by a national magazine-as tops in contemWeek’s Total Is

porary construction. Further development of Hamilton Hills will come in time. “There's no hurry to develop comfort,” MY. Speicher said. All the homes are near Fishers where schools and-shopping centers will service the community. Real Estate Law Mrs. Scott Legge | 4th Highest of Year . | New home buyers confinued to Joins Uptown Co. xix “uncertainty” into the swirThe Uptowst Realty Co. cleared ling winds of inflation last week {office space for its fourth sales- This was evident in the sales {man last week. of the Associated North Side - | W. D. Pratt, head of the North Realtors. ; Realtors, aspiring and active, | je real estate “The dealers in shelter security {will learn about the laws uphold-|.1 3 jnsurance reported the fourth highest sales ing the high ethics of their busi-la gency, an- {report of the yedr. They sold 57 {ness tomorrow. nunced the addi- properties worth more than | ‘A discussion of the “Indiana tion of ys Bont 3619.10 Jor the wesk-entig Bert: Real Estate License Law” will hind BS 2 highlight the second session in| Mrs Legge, the fall semester of the Realtors’ \who has just acEducational Class. {quired her license Joseph G. Wood, counsel for the ito handle realty state commission, will address transactions, will more than 75 “students” duringgspecialize in the two-hour seminar sponsored North and Hast by the Real Estate Board. {Side properties, Hugh A. Teeters will preside at apr Pratt said. the session starting at 7 p. m. iL! Wife of the

speak on. “The Inside Story of the Oriental” at the women’s Saturday. luncheon.

——————————— r—

: ¥ | This reflects high activity in the fastest-moving of all {That's real estate, right here in ‘Marion County, highest homelowner, _-home-building city per capita in the Middle West. "- The influx of defense workers ; is also a heavy factor in the Mrs. Legge healthful market. But all the new purchasers showed confidence late Scott Legge, in the realty outlook here, dashthe Antlers Hotel” Mr. Teeters is top-notch commercial property ing cold water on pessimistic “ur co-chairman of the program along broker, the new sales personnel Stableness” of business-as-ustial with Earl B. Teckemeyer. member lives at 501 Blue Ridge under grey war clouds. The six-week sessions, compul- Rd. She is a native of Ohio. ‘Nine Lots Included sory for: junior board members, She will handle transactions The sales report included transiprecede board and state examina- from her home and from the Up- actions involving nine parcels of

tion for real estate licenses. town office at 4216 College Ave. real estate, elbow-room for mr re. Sir Ee - prospective home builders.

.. Real Estate Board computations of sales reported by Chairman Warren M. Atkinson and

Committee to Survey Building Code Building Regulations Copies Available [secretary C. scott Padgett were: Charles C. Binkley — 2946 N.

A five-man committee to digest | war - time regulationd affecting] Copies: of the basic bullding p.), ware st.

SETQAWS paved, except the housekeepers in the Claypool Hotel. The former secretary to the oo... wag named jast week cde of the Building Officials w, L. Bridges & Son— 1936

in on their carpets.

.+..They say guests track tar

Benner, sales manager, | Cust or, Rex age {Real Estate Board.

Miss Violet Tannenbaum will re-

: adding machine. : ve, on trier, say it's 40 per cent faster.

IT WAS AN EAST SIDE|yworn with what in his 16-mm.

3 {president of Tiffin University has ,,v w 1 Brunton of the Building Conference are ready for those REX TYPEWRITER EXCHANGE has just picked up a sweet |, on added to the staff of the Congress of Tadiana. .

n Page 47; Col. 3 {cities needing standard construc-| {Continued on-Page 13; Col. 3)

Serving as a clearing house for | building law information are O.|‘op,Euas “na 1 by BoC of Realtors to Hear Talk

W. Brown, representing the Pro- i : . © that Roy Pelsor of “Wonderland of Vision.” Women|place Miss Philena Argo 85 aid 0, goers Council; Ernest Horne, nus end miunaing by 80 puiding| BY FBI Chief Foster Conn drove away from jjke rims to complement cos-Miss Mary Binford, executive sec- Wabash Valley Ready-Mixed Con-| ¢ricials, was financed by the . Indianapolis realtors will get

the Indiana Candy and Tobacco tumes. : : Wholesalers convention. | THERE'S A SHORTAGE of '_ Bert Beadle had sold the four-| yogurt, the health drink of the ‘door to Mail Pouch Tobacco of Balkan countries. It's milk ‘Wheeling. W. Va. for the top fermented with a rugged Buleaway of the roundup, | garian bacteria, keeps. you ' THERE'S FASHION in eye- um um { 1 4 glasses. Floyd V. Wimmer. of dy oY it was Gaylord Owners -and Managers Associa | Continental Optical Co. showed Hauser's best seller, “Look ition of Indianapolis. ; © the Central Indiana Optometric, Younger and Live Longer,” |

{Savage announced yesterday. Mis Argo who has been’ on the

3. Hear Harold H. Hartley with 5 wees” on WISH at 3 p. m. today.

“The Human Side

ialma mater in Ohio.

retary, Board President Bruce crete Association; Carl W. Nagle, pyjiaing Officials Foundation.

staff for 31, years, is now ex- A. R. Moses, Indiana Fabricated ,,nua] meeting here last June. . ‘lecutive secretary of the Building Steet Industry. : i .

The new aid, a resident here IY Se : | Br pe + grain reports and J. A. Living- | isince January, was secretary to! a Ving

|F. J. Miller, president of her| are foside the real 5 sec~ : i ti today. 4 #

{first hand {information on the ‘Indiana Lumber & Builders Sup-| i ; ply Association; H. Williamson! oo. \a6ed Building Code, tor} Work of the Federal Bureau of Stewart, Construction League, and conteq to the Conference at its| Investigation” next Thursday. - {They'll hear from Harvey G. The codes are indorsed by the Foster, agent in charge of the Association of Home FBI office here. His talk will top the weekly ment departments. luncheon-meeting of the Real Both volumes can be obtained Estate Board in the Washington {from George E. Strenan, BOF Hotel, Fred C. Tucker Jr. board

{correlator, 51 E. 42d St, New vice president, will preside at the | York, 17. > program. 5. ~

National Builders and by several govern-

On the Inside

Weekly stock, livestock and ston’s “Week in the Nation”

Careless personal habits cause most fires. Thoughtless discard-

markets.’

rect: amperage. for your circuits—

But how can you protect your home against fires? It's simple

leaving matches where children may reach them and that old

their toll in damage and lives. One out of every four fires Is caused by defective heating plants. A vearly check-up of the complete system, furnace to chimney, is-es-sential. All heating plants, pipes or ap-

pliances should be at least 18 inches - away from any wall or burnable material. Heaters, in-

cluding stoves, should be on insulated metal, cement or other incombustible bases, Walls and stoves should be protected ‘by asbestos sheeting or other insulating materials listed

by Underwriters’ Laboratories, ne Clean the chimney every year and repair it promptly when

cracks or ‘loose mortar appear. Never force a furnace to get more heat. Consult your heating man about increasing its efficiency, safely. Empty hot ashes into métal containers — never into« wooden boxes. Another potential fire hazard is your electrical wiring and appliances. Constant watch should be made for deterioration of wiring and flexible appliance cords. In older houses have the wiring inspected by a licensed electrician, Be sure your fuses are of cor-

15 amperes usually are right and don't with the ‘safety valve,” , Since - the majority of home fires start in the basement, install

tamper

a device there to warn you the J

minute a fire starts. Alarms can be had for $5 to $20. Fire extinguishers should be placed at the head of each stairway, in the kitchen and the garage. Remember fire extinguishers must be checked and refilled periodically. Another frequent cause of fire is spontaneous combustion. The only protective remedy is to clean! out accumulated junk and rub

'bish from basement to attic.

When a fire breaks out in a

‘home, the first thing to do is to

get everyone out of the house. If there are any rooms in the house isolated from the stairways .or other exits, these should be equipped with a chain ladder or even a rope tied to a radiator. Turn in an alarm after everyone is out of the house. Then! turn your attention to bringing the fire under control. True, the first few minutes of a fire are the most important, but! it is ven more. important to clear: ,the house of all persons. - \

{more than it will later on.

begun so far this year equal the 5065 started in all of 1949. Valu-

\ ’ ee] eed | WR) [| ation to date is more than $39 {million. In 1949, house starts were FEE ett {worth $34.1 million.

ie niin ... big drop in construction starts. A pound of fire prevention is worth a ton of water after the | blaze starts. “That's the keynote in Fire Prevention Week starting | Here are a few helpful household

tration figures are beginning to show Loans approved are down from bugaboo, smoking in bed, all take @ 1020- peak in June to 920 last month. Applications authorized so far this year are almost double number approved in the same pe-

4 t's better.

Preliminary figures show units

Although far ahead of last year, starts in the city continued to slide and in the county, builders, for the first time in five months, had fewer hammers and shovels working. The construction dip is also reflected in number of applica tions for insurance approved by FHA and VA. This is down less perceptibly here than in other parts of the FHA commitments issued last month in the state hit 730, under the 959 approved in August. There is a heavy backlog of applications to be processed and FHA figures will be slow to show any

Looms Top 1949 Despite the initial dip, FHA commitments in the first nine months this year are above number issued in a comparahle period last year. Through last month, FHA approved 7513 applications for loans. Through September, 1949, only 6063 were OK'd. "Like FHA, Veterans Administhe

construction let-up.

(Continued on Page 46; Col. 4)

‘Hem to Turf’

Model and “appraiser.” Who said real estate was all houses and mortgages? Here Times Real Estate Editor Larry Stilerman “appraises” the value of" “Grooming for the Office” with Mary Jane Woodsmall, L. 8S. Ayres & Co. modal. That's the subject of the second session of the Real Estate Board's seminar for realtor employees. It'll be given Wednesday -morning at the Columbia Club with Realtor Walt Vegn presiding. : The 38 secretaries will see the “insides’’ of proper dressing for their bosses. Mr. Stillerman got the outside figures. Hem to turf: 15 inches. Good. Miss Woodsmall will, illustrate a talk by Mrs, Maorgeret Gerard, wardrobe consultant of the firm’s Fashion reay,