Indianapolis Times, Indianapolis, Marion County, 15 October 1950 — Page 45
wR A ES
ith a ; are
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ators partand you DEtant can tric!
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R———
FER
: : Seotion Four
‘|| Building Curbs
Real Estate ........... 4547 1 45-47
Automobiles ............ 60
Business i....veeevenn
SUNDAY, OCTOBER 15, 1950
ave Minor Effect Here
The Week
‘Manpower Pool
mr Job-Drifters ~'Pirating’ of Workers May Come
in Business—
ing U
Plague Industry;
EE
who do the hiring.
come one week, leave the next. One out of five does this. And their real trouble isn’t, getting a job, it's getting a| place to live.
a re
Far worse than the shortage of steel and other materials is the fast dry-up in manpower.
Job-drifters are getting in
By HAROLD H. HARTLEY, Times Business Editor ICE BAGS AND ASPIRIN are in demand by the men
the hair of employers. They
The manager of one of the big-| 11
nt.”
Indianapolis employers are dip- the restless workers of other ping into the skill pools of other Plants. But that policy is chang-|
workers yet, but it may come. One big war plant here had a policy of keeping its employment
gest plants in town broke down Office open only during the hours
and said, “I even have to-live in| hotel. I can’t find a house to|D® at Work.
There isn’t much “pirating” of
n which a man ordinarily would
That was to keép from catching
4
commuhities, Columbus, Lebanon,|ing. Its hiring office was open
New Castle. But don't get far in; last Saturday. Richmond.
An employment manager re-|
And it may open|
{evenings
} Experience has taught the older
ported that the Richmond Palla- industries that the best source of | dium-Ttem refused to take his skill is to train their own men,| help wanted ad, slammed the door grade them up. But this has a
on outsiders trying to lure the sad ending.
to
dustrial draft deferments under age 26. : i
T
explained that he had been a barber for 81 years.
” . 4 } with apology, “my feet begin to| Hiring restrictions are loosen- Real Estate— tion pace originally intended, bother me.” ng. Employers are hiring women C | they would have been able to 35 ’
th
immediate need for 1600 more. |
is
industries, (2) food products, can-|
C chinery, Ring, (3) non-electric ma ery, big plant in this town must
have a hole in his head. Where will he get the help?”
such as J. D. Adams Mfg. Co. | and (4) metal fabricating, such! as the Zenite Co.
the thermometer goes down in the/Chamber of Commerce, bet on
race to beat freezing weather. that. few Individual issues, however, this out on the line, hot and lines, too, right after November.| — ltor his Warren M. Atkinson, builder-real-oes > wwe (Showed wide gains. They were, 4 _. heavy. > am | Talk |statements re- tor and chairman of Associated ; bolstered mostly on highly favor-| In the current | pprai | garding the North Side Realtors. able corporate news. issue of The So They Say j : home building “It's easy to cut the housing as There was nothing in the news . Mortgage Bank-| ALONG REALTY Row talk industry. machine,” he said, but can it be to account for this week's decline er, the IU pedant| goes that O. J. Smith =aty Slated Tomorrow | Even’ the ex (turned back on easily and with in the market. Traders generally said the most/Co. is totem pole top-dog to! pediter's title production efficiency?
wn's industrial know-how away. |
When the war rush is over, |
The big pull on skills is due in they have to be downgraded. the next 60 days. Employers also] expect a stiff crackdown on in-men in one week after World|
ired Feet
{ One plant demoted 1000 fore-|
War II and that was an unhappy! LEVA
At the Indianapolis Employment Office a man stepped briskly to the counter for a job.
Asked when he was born, he said “1556.” The interviewer Thelma Lynch, thought she hadn't heard it straight, and came back to it later in another way. {
“How old-are you?” she asked.
|
“Ninety-four,” he replied, then]
He didn’t get a job, but he's on e list.
lover |mothers of two or three children
But industries outside Indianap-
- lolis are fishing in the local labor, He was a fuli-blooded Cherokee pool, and they don’t get much Indian, said his health was A-1.| He asked for a job working no more than seven hours a day. “After 10 or 12 hours,” he said can.
the age limit, taking
Sam Springer, who keeps his who want to give the family) gensitive finger on the Indianap- budget a lift. | olis labor pulse, sald yesterday| ,.4 personnel managers are, that there are 289,900 employed ,,.,.¢ the only ones in town who, in the metropolitan area with an 4. ¢ cheer when the Chrysler
The big labor pull, he reports
(1) television and electronic, |
Construction is moving up as
They have the dress-up jobs.
‘And they're being hurt.
jump around with annual wage, en they read where wages pace of home-building from the Posed on mortgage lending, it is will speak on association letter contracts, although in mont I tes have hit the $228 present record rate of 1,300,000 entirely probable that more than| “Survival” at ‘ . Jy said. 5 Fly From Here plants where there are union €of- |, "0 vear level, and that pay- annually to not more than 800, a million housing units will be the weekly noon ON Middle-Man Mr, _Cortright
. to! tracts, employers hand ‘it out 0 ols alone cough
000,000 in a morth to one of the] highest wage levels on record. an a usta, steel] 4 Eas t has become] continue 8 ob-'ages and rising costs are the So y Ste stacles. On Monday of this week, main blocks in the home build- Hotel. companies, including|ing path right now, he went on.|
the office help in proportion to
th
SngulS. month arter month. But away to take care of themaélves|U- 5. Steel and Bee | PP lannounced yesterday Rep. Jacobs’ man” who fakes in more sales Mr. Woods I noi pona Association of Home . " 1 . - T Jy | , an € Des TOKer. " 3 their -pay buys less. [tor the rest of their lives fSome. Wall St. quarters are of , ON BUSINESS in general, address will be followed with a in San Francisco last! And theyll bring back the of-
The white collar dollar | shrinking close to the 50-cent/those trying to keep pace with mark. Which means they buy|the cost of a dress-up job skiponly half as much as before ping lunches or stuffing a sand- : {wich in a coat pocket and washEqually hit are the pensioners, ing it down at the drinking fountain.
World War II the annuity dependents, and those |
are riding out the inflation store) swallowing the salt water of| sh. Their paychecks read thought they
Most of their incomes stay pretty level.
ploy 5000.
Boxcar on fires. This is what you've always thought was com- | ing. It's a fluted steel Fruehauf trailer with a driver's compartment up front, engines underneath. it's powered by Fageol.
White Collar Dollar
sit next to you on the bus each morning.
Corp. broke ground last Thursday
or its new plant which will em-|
Said one, “Anybody who starts
But he didn’t belong to the
|
Saddest of .all are the neat-| appearing men or women who
They are white collar workers.
Paycheck figures don't |
e shop warkers.
But there are thousands who |
is!
who are relying on their savings!
account nest eggs. They look lose his dubious status if he has| about them, see signs of pros-'to switch to the two-day shirt.
ators being moved into neighbors’ longer be white. It'll be tattle- ! {tale gray. *
The government is not. going to “give you the bird” . Instead the government will make
homes.
S
you pay more for it.
ty, TV sets and new refriger-|
fraOWS for Thanksgiving
When the turkey
Uneasy Street for those whol 25
farmers turned up with a 44 million-bird crop for the holidays they shuffled off to Washington .to weep on the
|
had enough’ pu
And’ you may find some of
The white collar worker may:
For then his collar will no
| ment this curbs on housing credit.
eral
By Profit-Taking
Controls in Place of Taxes
Will If Be Remodeled or Come Down? Pyplic Housing Builders
p
Is this the next Indianapolis landmark to disappear? Disposition of ing at 120 E. Market St. will be made at the stockholders’ meeting of this company and the Indiana |help from Mr. Springer. He saves) National Bank Thursday.
his labor for local industry, if he this step-down structure. It's valued on County tax books at more than $220,000.
Besides
Sell-off for Week Led by Industrials
By JOSEPH W. MICHALSKI United Press Financial Writer
NEW YORK, Oct. 14—Prices tion of the country’s economy.
declined fractions to more than]
two points on the Stock EX- when the tax load, big and heavy, puts its foot down on activity’s we could determine. Competitive oq to its 17.
change this week. { Industrial shares led the sell-|
off. Rails and utilities were down », Weimer of Indiana Univer-| | a: only slightly on the week. A gitv's school of business poured probably come along in other, (Continued on Page 47, Col. 2)
attributed the liquidating move-| ment to profit-taking as a resulf ‘of the current bull market. However, investors continue to watch the records now being!
course.
Aggregate output this | week was sustained at a level | markedly above comparable period of 1949. Reports of further restrictions]
|achieved in various heavy in-| | cational course. ary?” |dustries. Output this week con-| "f Lox Increases. | tinued on Page 47, Col. 1) | That's appraising, knowing the NO authority’ to expedite any Will Re . But they won't ge 41, housing lease Material tinued to pursue its upward an Wel: i rm ri worth of property in dollar and BllG. Dean Weimer
i
that of the
on credit and other related items, |
ters worried.
Impose New Curbs RN
{however, had Wall Street pie
In line with this, the govern-,
The law now
week
imposed new,
is that nonvet-|
erans will be required to make) cash payments ranging from 10]
|per cent on houses costing $5000 to 50 per cent on dwellings priced| from $24,250 up. Istriction is aimed at cutting the!
ed up $12,025, 000 in 1951.
steel
The television
%
industries,
Communications
The new re-
i started by the end of the current Elsewhere, among the highly year,” he wrote. {pressed heavy
steel |
industry also hit!
|
and rationing posed”. instead to hold the infla{tion line, he said.
[ pear to have accelerated house
other home-hunters, have gone in| for a bit of “panic buying.” §
the belief that the union will seek Dean Weimer believed activity talk by the Republican candidate
a wage boost well over 15 cents an hour. ' TV Shares Active
{this fall” with or without Ko-/Brownson. * | rea. vill. be ore “border warfare {Otober meeting-meal menu on , {similar to Korea and this Oct. 26 with an address on “The the limelight this week. The Fed-| produce a longer ‘period of heavy Paramount Issue.” Commis-| production, perhaps running five sion approved Columbia Broad- or six years.” icasting System’s method of trans-/ mitting color: : i As a result of this ruling, one, of the bitterest controversies in|
(Continued on Page 47, Col. 6)
initial shock has been absorbed, tion. Dean Weimer wrote, “4
{the building industry first. It'll dent of the board.
Give Jown Payment
Program Tied Fees Order Slightly More
® Ra a pe: le i a a aps rubowithonewotiadilo Ses ls petal § ; d | strictions produced a mortal : " moan from realtors and build-
ers and home buyers here last Not One of 810,000 | week. Low-Rent Units
They feared the demise of private home production. Buyers Has Been Completed By JAMES DANIEL
saw their investments in se- | | Scripps-Howard Staff Writer
curity go out in government WASHINGTON, Oct. 14 — The
of
Ty ATR
Controls Geared To -Trimming Housing Starts
By LARRY STILLERMAN Times Real Estate Editor
Home buyers will still be able to get the shelter they need and can afford. And that includes the $7500, the $10,000, the $15,000 and even the $25,000 house, regulations or no regulations.
New credit curbs last week will not trim housing starts here as
gobbledegook. t But after careful considera- | tion, builders, representing a public housing program which; cross-section of home construc{Congress passed last year after| tion here, had this to say: three years of bitter scrapping is| “The regulations won't make becoming a casualty of red tape, too much difference in our price war and inflation. range. Our buyers usually have | Of the 810,000 units of low-rent,| the necessary money for their subsidized housing which were house.”—Warren M. Atkinson, authorized, not one unit has been| builder of houses $25,000 and completed. About 9000 units are| up. under construction, federal funds| “Our down payments will still for 50,000 are available and 400,-| be the same (around $5500) but 000 have been requested by cities| we're wondering if our market
and towns. is still around” — Bob Bruce, much as in other sections of the Meanwhile, private home huild-| Bruce-Zeager Corp., builder of country. ers point out that since Congress| houses in $15,000-$17,500 range, That's because the new down gave the green ight to public 30 this year. payment minimums are only housing, they have turned out 1,- “This'll hurt the marginal glightly higher than those which 250,000 individual homes and buyer who may not have the realtors, builders and lenders here apartment units, extra $200 to $300 for our have been requiring for several
houses. But we expect the $10,-000-§11,000 buyer may come to us. If we have the material we'll go ahead with at least 80 per cent of this year's production.” —CHlff Krabbenhoft, proj-
months now.
Not Embarrassed U. 8. Public Housing Administration officials say they're not |embarrassed by their slowness in starting the program. The 810.-000-unit goal was for six years.
Builders, who this year will erect nearly 6000 units in Marion County, will
They expected it would take most ect manager of Grinslade Con- start close to cities a year to settle locai tax-| struction Co. builder of 115 5000 in 1951, waiving problems, assemble sites, houses in the §7000-§8000 range That's near the line up architects and award con-| this year. ] 1949 total, the tracts. “We'll build .from day-to-day. 3 biggest residenNow, however, when their pro-| Regulations make building too Zl tial year on recgram should be snowballing,| uncertain. The non seems to be & ® ord so far. they're encountering rising build-| off the “non-luxury” homes 3% a But in the naling costs and the government pol-| now. Realty sales will hold up,” | yy quyarn an tion, starts are
however.”"—A. H. M. Graves, builder of 20 houses in $8500-
icy of slowing down all construction so as to free building materials and labor for defense eds. os gt " . A In mid-July President Truman merger talk, the organizations will discuss what's to become of gave the Public Housing Bureau a ceiling of 30,000 starts for the {balance of 1950. At the construc-
expected, to drop off to approximately 750,000, That's 500,000 under the number expected this year, but it's still a ‘‘good” building target. The biggest drop in construc. tion will come in California, Texas, Florida, Arizona, the sunshine states where builders have offered homes with no down payRou to ex-GI's, very little down to non-veterans. That's what the regulations are
the Union Trust Co. build- (Continued on Page 46, Col. 3)
NAHB Scores Woods’ Policies
Asserts ‘Expediter’
IU Business Dean Expects start 67,000 units in this me,
Get Higher Bids ) | When the President's order was
| . i fter. ‘Cut starts - received, public’ housing officials . . a , conserve ma lexpected it would take all their Title Is Extinct terials, trim inflationary pressures.
Arthur M. Weimer Declares Heavy diplomacy to allocate the 30,000 WASHINGTON, D. C., Oct. 14 units among the cities that were _ «Crack-pot predictions” by
Hike to Control Inflation Not Likely [nie amare a i
By Times Real Estate Editor | “Then,” says Commissioner ware plasted last week by the Home building and buying packs a lot of mortar in the founda-'John T. Egan, “the post-Korea natiohal Association of Home bids began ccming in 15 to 20 per pyjjders. And as part of big business, construction will only be trimmed [cent above any actual costs that, 1, weekly let-
Hard to Remove Controls But what concerns realtors and builders most is the “moral” aspect of the credit curb target. “When you can't buy or build homes, you're striking at the moral fiber of America, "warned Bruce Savage, president of the Real Estate Board. “Controls, once in, are difficult to shake.” That was further emphasized by
bidding seems to be out. There 556 mempers, comes a point where if bullding iyo Aggociation took Mr. Woods [to the woodshed
neck. Minus furtive looks eastward toward the Potomac, Dean Arthur
“The government threatened public housing if we don't produce. So we produce and then they cut us off,” he pointed out. “Is a home and security, inflation-
“effective meth- take over real estate business! od for reducing of the Union Trust Co. once the] inflation - merger with Indiana National is ary pressures completed. would be heavy Merger voté comes Oct. 19 an
¢ was rapped. Mr. Cortright Frank W. Cortright, Association executive vice president, said Mr. Woods’ title of “Housing Expediter” was extinct since he has
One of the most importan phases of the real estate industry will be discussed tomorrow durd Ing the Real Estate Board's edu-
Officially, the controls are neces essary ‘to reduce inflationary pressures in housing” and to pers mit materials and labor, now
be invoked now.| Price controls “might be im-
All major government housing neighborhood amenity values. Realtors to Hear | This will be deliberated from Policies now emanate from the
- ¥ /the residential angle by George Housing and Home Finance Jacobs Thursday "I. Wheiden and from the indus- Agency, the Federal Housing Ad- | trial side by Paul Starrett, both ministration,
the Federal Re- Peing used in homes construction, » » The parade of the politiciansigxperts in these respective fields. serve Board or Veterans Admini- to be diverted into defense proRigorous controls on con- [Will close ranks before Real) Third Session stration,” Mr. Cortright pointed Suchon, builders here anticiSumer, mortgage and business Estate Board members in month-|_ "They'll ‘talk before more than Out. . ; pate those materials may find credit can be effective if they're lend meetings. 75 realtors, active and potential, Crack-Pot Predictions their way into Hoosier ay a strong, Dean Weimer said. But | First to get in his licks in the during the third session of the “It “only causes grave misun- pp glicing’of the no down payto date “limited restrictions im- fballot box battle will be Rep. An-|six-week course, Classes start at derstandings among prospective ...¢ fringe will release ) pays posed on mortgage credit ap- | drew Jacobs, 7 Pp. m. in the Antlers Hotel. home purchasers wherf some un- items now in short supply and Democratic in| Realtor Oral L. Price will pre- authorized source in government, 'o entirely essential to defense cumbent and Side at the half-way meeting. The such as Mr. Woods, makes crack- production. And builders are more candidate for re- Sessions, compulsory for junior pot predictions as to outlandish! election to the board members, preceqe board
concerned over material lack I government Con-ithan credit curbs. 11th District Co land state examinations for ‘real 4 ON" astate licenses. gressional post, _—
trols over home The curbs actually make manRep, Jacobns
building and ———— (Continued on Page 46, Col, 4)
buying rather than to have retarded it,” he said.
In other words, Hoosiers, like |
Offer New Hinfs |
“Even if major controls are im-| home sales,” the
said Mr. Woods’
luncheon - meet- latest crystal
ing of the board this Thursday in the Washington
To Texas Meeting
ball gazing oc- Five Marion County represencurred at atatives will fly to Houston, Tex, meeting of the today to attend the three-day western regional meeting of the directors of the meeting of féd- National
| : . | Co. To Secretaries MORE THAN 35 real estate secretaries will learn‘ something Board President Bruce Savage about the telephone, the “middle-
Uncertainties, material short:|
Rep. Jacobs
How to use this instrument will Sificers There Mr. Woods pre-|ficial outlook of the impact of b Ss month. ; s - ficial of of the act of new would have tended to decline for the 11th District post, Charles * 9 eabiainey bY. Boh Sunk stag 1 dicted that no home costing over credit restrictions on housing. The in the third session of the Secre- $10,000 would be: permitted to be parley officially opens tomorrow. taries’ Seminar, first annual built if the war should continue,| National directors T. O. Grinsschool ‘put. on here by the Real newspapers reported. lade, M. L. Hall and Albert Estate Poard. r “Congress should c¢lear the air Thompson wil be accompanied by f a mu of rumors and forecasts which Past, National Director A. H. M. Both talks will be keyed (0 THE SESSION will start atthe Housing Expediter has been Graves and Realtor-Builder John party platforms defending and 7:30 a. m, in the Columbia Club making by designating him as Bauer from here. - attacking the current administra- "with Realtor Walt Veon, dean of Rent Control" Administrator and| They'll tell local associates the ." the school, presiding. - placing all housing titles where national story on Oct. 23 at in- : | The programs will be conducted ' It’s two-hours of schooling be- they belong, under HHFA’s Ad-|dustry-wide meeting of the Marion The controls “shock” has hitiby Fred C., Tucker Jr., vice presi- fore the realty workers punch the ministrator Raymond M. Foley,” County Residential Builders, Inc. iclock for practical experience. Mr. Cortright said. here.
He further predicted there! Mr. Brownson will close the
It will be brderly after the
Riverview Dr., Madison Ave., And Meadowbrook Homes Have New Owners
sury , too much turkey. | 0 N treasury steps, 00 Fat they got| INSTALLMENT CREDIT MEN id “turkeys. support” money to/of the state will lend an ear‘to an %
keep the prices a little higher, than they ought to be. ) |
array of top speakers when they 3 huddle here Nov. 9. Dr. Ernst A.|
wah
- gpver WISH at 3 p. m, today.
Currently, dressed hens are 69 cents, and “toms” 50 cents. That's what they were last holidays.
IF YOU WANT a fat trade-in gygy yr TURKEYS do cost, on your old car, now is probably more for Thanksgiving, there'll the time to do it. New models are be plenty of ways to get them and demand is easing up. | tender, sweet and weli-browned. Buy ’ wal for the '51/The women of the country own po are ting : [three smillion push-button electric The word I get is you can get roasters. : 4a} your best deal right now. gn) And jovial Jim Smith, chief Fifties. . / | of the Times copy desk, reSTANDARD OIL is giving em-. minded me on last Friday 13th | ployees entering the armed forces that being afraid of a black after a year or more of company cat depends on whether you're service two months pay. | a man or a mouse.
‘Hear Harold H. Hartley with “The Human Side of Business” | as TH
Dauer, analyst for Household Fi nance, is coming down from oa
cago.
}
6343 Riverview Drive : Topping sales last month for Realtor Joe Berger was the . | transaction ‘invelving this three-bedroom deluxer with a river ! view. This dwelling was constructed by the Frederick Comnstruction Co. and sold to Mr. and Mrs. Al Morris. Mr. Morris is asso-
= . 2 1 * )
3405 Madison Avenue ’.
Mr. and Mrs. E. C. Mullinix are purchasing this two-bedroom tiouse from Mr. and Mrs. William C. Lloyd, according to R. J. . Dearborn, broker handling the transaction. Mr, Mullinix is. a retired insurance man and Mr. Lloyd, has been transferred to Deroit to head a Ford Motor Co. regional division. »
\
|
: 8101 Rosemeade Lane rd This Meadowbrook property will become the home of Mr. and
Mrs. George H. Cornelius Jr., Nov. 1. They
the dwelling
3 purchased from Mrs. Earl W. Rich through the Walt Veon Realty Co. The
seller is the proprietor of the Rich Mr. Cornelius is with the Cornelius Printing )
=.