Indianapolis Times, Indianapolis, Marion County, 12 November 1950 — Page 42

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otek i oe Noro

E Bond Cash- Ins Top Sales Again Off for Parley

Shows People Want to Spend Dollars, Not Keep Them Buried

it does.

By J. A. LIVINGSTON:

Local Realtors

| Delegation From Here

Continued From Page 41 Mrs. Albert E. Thompson, chair-

Hg {man of the Hoosier convention # MAYBE IT HAS NOTHING to do with the election, but I think Committee; Mr. and Mrs. George,

T. Whelden, member of the Board,

For the sixth consecutive month, redemptions of Series E say-/0f Governors of the Appraisal] ings bonds exceeded sales, thus proving Secretary of the Treasury Institute.

John W. Snyder a poor forecaster. He estimated that during Octo-! Americans are stil] rine Mansfield, I.. H. Lewis and!

ber sales would offset cash-ins.

more anxious to convert‘ their to ‘spend could well decide he 1952

dollars into things —

Apparently,

money—than to save. . The coun- tion. They're the “float.”

try is stil inflation-conscious, fearful.

That's borne out by complaints

and.

So, it's a reasonable assump- - tion that Senators and Repre-

reaching the White House about sentatives from both’ parties

the high cost of living. Older persons—pensioners—are having trouble making annuities

or savings stretch. The white col- |

lar group—school teachers, state and local government employees

-—are feeling the pinch and say-

ing so. These persons are not members of strong labor unions, which ean bargain for higher wages or are safeguarded by cost-of- living contracts. They're not farmers, whose prices have been rising and who are protected by support which will go up when industrial prices rise. They're not businessmen able to boost their profit margins. But they have suddenly -—overnight—become a political force. They represent the vote which|

Farmers Prosperous

groups which have supported the tration will have to take a chan porters will stay with it.

At the same time, Congress might be willing to grant the Department of Agriculture authority -

to sell commodities to force down prices. Farmers might not like it, Here politicians must take a calculated risk—to waeo the farmer or the floating voter. The outlook for the farmer in

1950 is extremly good. Prices are rising, marketings are expected to run 10 per cent ahead of this year, and net income after expenses is estimated up 15 per cent. Aside

from 1947 and 1948, that adds up’ to a record farm year. The need.

Manpower Bottlen

low, goods disappear from the

will play up to them. Neither Republicans nor Democrats must worry about their own party adherents, Die-hard Democrats are not going to switch from the Truman Administration; they'd have no place to turn. Likewise, the die-hard Republicans will remain Republicans. The adherents of a party ean be depended on to adhere. It's the nonadherents that count.

If the above analysis means prices anything, then it seems likely that make a the That would imply which the lower That's where the

will to

the next Congress determined effort inflation spiral. a pretty tough iwould certainly income brackets, mass spending power is,

Naturally,

stop

tax bill,

effect

Administration.

for “High SUPPOTt prices has aiminished. aan The’ main economic battle in

Washington now will be whether to use indirect or direct. controls

to stop inflation. So far, President Truman has leaned to indirect controls — taxation and credit and monetary curbs. But

a vocal group prefers price conPrice ceilings There's the price can't

trols and rationing. have an appeal. tag. It's fixed move,

“white”

by fiat. It But stick.

price

If prices are

a:large administrative force. Third, it merely puts off the day of

reckoning, When the ceilings are removed, 1846 when OPA folded.

: The real bottleneck today Is manpower. We do not have enough workers to produce tanks, guns, planes, ammunition, and ships, along with record-breaking demands for civilian goods. ; _ Unemployment is down to the lowest level In several years, while production is at a post-war ak. In 51 out of 150 industrial areas, workers are almost “impossible to find,” according to the Department of Labor, ‘That means that from now on

“land Is Selling At $25-$50 an Acre

From deep in the Old King oot stems from activities this year in operation with other realty com- heating controls. or

ton empire comes a call

Hoosier investors. The boom’s on for Yankee! dollars, minus carpetbags, to re-, develop what the boll weevil has! destroyed. It's coming from the delta lands] in Louisiana, the black soil belt in! Alabama and Mississippi and the! upper coastal plains of Georgia. | Carrying the standard for Hoo-| siers seeking increasing land val-| ués without increased inflation is| Russell Fortune Jr., 610 Chamber|

of Commerce building... - : }!

Mr, Fortune, zestful realtor and] member of Associated North Side] Realtors, is the Indiana representative for Farmecraft Service Co.,| farm investment - _management, This organization is picking up| the faltering farms down South, | reviving the agricultural industry; lett for dead ‘whient the cotton-|

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antonio Bn pen i

prices shoot up

total production can only expand -

—with the labor force and Moreover, as dethe supply

slowly the work week. fense orders increase, of consumer goods will tend to decrease. Therefore, the and Congress can't put off the inflation issue much longer. It will come to a head when the makes tax proposals to Congress. . If the taxes aren't stiff enough,

Adminstration

direct controls will become inevi-

table.

‘South Seeking Yankee Cash To Rederetop

Farm Lands

growers migrated to Texas and Oklahoma in the Thirties. Mr. Fortune's experience

elec. |

that would produce heavy protests from the labor But the Adminis-

that the CIO and the AFL sup-

ceilings never too market and go under the counter to the “black” market. Further, price control would require

-as8 in

Miss Alieen Klaiber, Miss Cath-

executive are also on the!

Mrs. Mary Binford, board secretary, train. They will be joined by Mr. and Mrs. Paul L. McCord, member of the real estate national board. of! directors, and Mr. George H. Dirks, who are flying. Mr. and Mrs. Leon Holland are driving tothe convention as are ‘Mr. and Mrs. Earl W. Kiger. The| Kigers attended the one-day real) estate seminar at the University of Florida in Gainesyille yesterday. Mr. and Mrs. Russe H. Hartman will travel to the parley on the Southwind special train. Will Hear Experts They'll hear talks by such ex-

perts as Sen. Burnet R. Maybank #

(D. 8.C.), chajrman of the Senate Banking and Currency Committee, on “Government and Real Estate”; Clyde IL. Powell assistant Federal Housing Administra{tion commissioner for rental housing, and -Rep. Dewey Short (R. Mo)., ranking minority member | of the House Committee on! Armed Services. ! Trophies in various housing fields will be awarded during the parley. At one meeting, Capt. Eddie Rickenbacker, president of

_ Eastern Airlines, will present the

1950 Industrial Award of the 307] ciety of Industrial Realtors Thomas J, Watson, chairman of the International chines Corp. The role of prefabricated hous-. ing in producing defense shelter will be discussed by a panel in-

cluding Gen. John J. O’Brien, president of Gunnison Homes, | Inc., of New Albany, Ind.

Inflation a Topic Robert P. Gerholz, president of| (the Association, will speak on “Real Estate and the Coming Inflation” in his annual report to the convention. Business windup will come Nov. 17 when the delegates adopt the Association policy “for 1951 and elect new officers. Aspecfal post-convention trip! has been scheduled to Havana, Cuba.

Evans-Bromert Tally 9 Sales

The Evans- Bromert Co. kept its best real estate foot forward among North Side homé buyers and sellers. Last month the feminine team closed nine property transactions! valued in excess of $192,000, all on the North Side. The list; released yesterday by:

Bruce Savage Heads

and Mrs. 4

| sisted, torium won't be cut down. Anything bigger than what the Man-

an improvement.

= THE INDIANAPOLIS TIMES

Four Indianapolis Residences Bald In Recent Transactions

This new two-bedroom house at 5343 E. St. Joseph St. was purchased Tues. day by Mrs. Michael Duffy, employed by L. S. Ayres & Co. She bought her house from Barrett and Willis; Inc: builders, with-W. L. Barrett handling negotiations.

¢ Real Estate—

Though realty ishance by Bob

Butterworth of Butterworth Altum purchased a three-bedroom house at 5421 Indianola Ave. before selling their home at 5230 Park Ave. Their former home, pictured above, was then purchased by Mr, wl Mrs. Carl Schortemier on Oct. 25. Mr. Altum heads the Altum Co. (manufacturers and distributors of storm doors and ‘windows). Mr. Schortemier is a North Side businessman. The Altums purchased the house of Dr. Warren S. Tucker, president of Marion County’ s. Tuberculosis Association. This sale was completed

Oct.

eee Xe Want Architect to Trim

Frills on Manual Project

Effort Being Made to Get Costs of | New High School Down to $3 Million

MANUAL TRAINING High School's back in the drawing rooms. Kessler t Lane and 1143 McDougal St.

School board members and Manual D. A. Bohlen to trim some of the: frills, $3 million.

much-needed South Side school. This Fall only three of nine the high school down around Garfield Park. But the lowest bid was $4.8 million. That's far from $3 million. Contractors said material prices zoomed while delay hung around Manual plans. Alumni last week said, and inthe gymnasium and audi-

ual Redskins have now would be They just want some of thé swirls, thick walls,’ | perhaps, wacked off. They don’t want Manual wacked

off .. . again.

Junior Boom

TOM McDONALD, vice presi: dent. of the Minneapolis-Honey-

well Regulator Co., has a honey of a press agent, He's always- coming up. with.

the firm, disclosed one of the top some newsy tid-bit' and puts the months of the year for the 10- item right in the mouth of Mr.

month-old company.

Me Donald. Substantizted by deeds-record-| gets in” “print, in. ed in the Courthouse, the reportimade of thefcompany up in the

Of course, when it

mention is always

{long-range investment operations showed three of the-sales in co- cold, cold north that makes home

4 A + Russell Fortune Jr.-. got Georgia -on- “his mind. "Midwest-Far West home buying and selling with a fellow realtor in Southern California. ; Currently completing three transactions ‘involving of 4500 acres in the coastal plains Ga., Mr, Fortune has said “this southern land will return four-fifths as much as investment in Hoosier land costing $300r an acre.” ‘Mr. Fortune is concentrating on purchases from 400 to 4000 acres at $25 to $50 an acre

4 Achieve Active Status With REB

Four realtors achieved active with. the Real - Estate Board last week.' Board President Bruce Savage yesterday announced that J.

Robert Durham, Riley McGraw, James E. Murphy and LeRoy L.%

Wahle received active classification after passing their realtor examination. Mr, Durham is associated with C. B. Durham; Mr. McGraw, Good Homes, Inc.; Mr. Murphy, son & Co. and Mr. Wahle, operates from 135 E. 47th St.

land Ave.,

_ of the Westinghouse Corp.,

ter of the Illumi

Me's “ood Floodlight -

pure hase, ith field

panies here. Sales averaged more than $21,000 a unit, Property closed during October

{by Mrs. Margaret Evans and Mrs.

Ethel Bromert included homes at! 5248 Kenwood Ave., 6419 N, Oak-| 7922 Hillcrest Dr. in, Williams Creek, in Braendenwood, 4418 Guilford Ave. and a lot in Sunset Lane, north of Spring Mill Rd. : With other firms, the company

, J. D. Case Co.. and 6925 Oak the release said.

psd Atkinson & Co

Keck to Address Lighting Engineers

Merle E. Keck, lighting engineer Cleve-

land OF will speak before-the Indiana Ch a'p-

Ele

nating Engineering Society —1o-

Hewit tat of “T f é Key to

ing — Proper © Aiming of the 8 Floodlights.” He is expected a deal largely Mr. Keck of sports. The speech will follow a dinner in the W arren

Hotel. : SEQ95 9, 8

SUPERFLAME OIL HEATERS

Rey:

es them from the

Donald: $607 million pair, alteration and improvements

strictions hard

fix em up, he went om: purchase of used homes are con-. trol-free,

‘Like last week, Mr. McDon-

ald and/or his publicity man “predicted” a junior building boom. Both said new federal

curbs will set off this boom in modernization.

The item went on to point out

thousands will switch to sprucing

ip the home now that new house prices and down payments will “brand-new”

closed houses at 8225 N. Pennsyl- market. ; vania St. in-co-operation with the! And remodelers c an spend up : C. Tucker Co.: 1811 .E. 65th to $2500 and have a ‘new house,”

~ ” » ma THE RELEASE quoted Mr. Mc“When you figure that was. spent. for re-

n 1949 according to FHA figures a year when there were no reon. building—it's not to foresee a big increase uring the. next year.” ; Many will buy used homes and Foans for

government in-

unless

ri TAT re a

Low-Cost, Lifetime Property Protection

Materitia O

Ri. 215126 Russell Ave.

Nights sad Sunday, TA het 6503

or Compilers Bras Erection

expire in 1951.

by Howard

The committee was appointed by

alumni want Architect get costs down to around

That's the amount the Board can float in- bonds for the

contracting firms bid to put up With modernization there'll be a big demand for—and here's the clincher=—automatic heating controls as well as home appliances and furnishings.

Seems Mr. McDonald and/or Fam Ave. : his press agent has something Bruce Savage Co.—739 E. 53d! Dollar-wise, the firm’s transabout modernization dollars and St., 2226 Riviera Dr., 2431 River- ‘actions are 75 per cent ahead of

purchase of existing property. Don't you think so? The press agent? That's Harry Schaden of Carl Byoir and Associates, Inc., of the big town, New York. They make ’'em first-rate] down East, if they ain't already.

Realty Reel BILL BRENNAN Jr. used to put most of his time into some of the bigger real est a te deals around town. His time now belongs to Uncle Sam. : . Sinee- Thursday, Bill's had-on the double bars again at the Jef-! ferson Proving Ground downstate ,as. an Ordnance captain.

6 Realtors Nominated In Directorship Race

& Teelers, Mr. and Mrs. William

5656 Rolling Ridge Dr.

side Dr; and 5326 Graceland Ave. 1949, Ruckle St. 77th St, combe Blvd. and 912 Forest Blvd., property worth more than $99,000

8S. Dr. in co-operation with the last month. Jack C.

__ Appraiser: Nominating Committee Appointed

mittee will suggest candidates for men to their real estate staff:

_ SUNDAY, ‘NOV. 12 1050

Mr. and Mrs. Dan Wolf sold this two-bedroom residence last week to Mrs. Mary L. Aldrich with Mrs. Alice Davis of W. L. Bridges & Son, Inc., helping in the ¥ransachion, The sels of 5501 Haverford Ave. was completed Nov. I. Mrs. Davis also helped the Wolfs purchase a house at 3202 Medford Ave. Mrs. Aldrich is in the furniture department of L. S. Ayres & Co. and Mr. Wolf is with the National Hosiery Mills.

Warren M. Atkinson of Atkinson & Co. helped the Kenton Construction Co. ' sell this new two-bedroom dwelling at 7915 Windcombe Blvd. last week, The house was purchased- by Mr.-and Mrs. Roland J. Schmitt. He's with-E. C. Atkins Co. {saws)..

Spann to Mark New Sales High

MINE EMPLOY MENT DOWN SCRANTON, Pa.—Employment in anthracite mines has declined 24,000 since 1938, from 96,000 to 72,000, according to Forbes Maga|ziné. Coal output, however, has

North Side Sales Total $540,365

Continued From Page 41

St., 369 W. 11th St. and 2330 N. | remained about the same. New Jersey St. | wishonstudisibetoosihain ion sain

Ferguson St. A. H. M. Graves, Inc.—4100 E.! Blvd.,, 919 Hawthorne!

Overshadow 1949

One of the best sales marks on | Gregory & Appel, Inc.—917-33 company books will be inked in| S. East St., cabin on White River, this year by the Spann Co, Inc, 1739 Mill St., 1850 E. 10th St. and real estate brokerage property| management - insurance ~ mort-| gage loans firm,

. Through last month, the N.| Delaware St. outfit recorded home| sales 17 per cent ahead of the comparable period last year. {

x Hottel Co.—5178 Atherton, Pr Ni T. Hill Co.—4028 E, St. John Max Realty Co. —52340 By-

28th

company President C. C.| Spann Co., Inc. — 4015 Duck said yesterday. 1627 Harlan St, He pointed out October as the 1811 Carrollton Ave. and 1759 E. best realty sales month of the year since January. The seven _7816 Wind- real estate salesmen handled

The

KIN-AM- EL

[PLASTIC GLOSS ENAMEL) FOR

WALLS WOODWORK FURNITURE

F. C. Tucker Co.In January, they) Carr Co. sold $181,000 worth of real estate| Walt Veon Co.—5387 Rosslyn here, Targest sale a factory lease. Ave. and 5917 Primrose Ave. | Spann salesmen have sold 55, R. E. Walker—5661 N. Perinsyl- units worth more than $565,000 vania St. through October this yaar. | Ford V. Woods Co.—1312 Silver Through the first 10 months in Ave. 807 S. Auburn St. and 506 1949, the firm sold 47 houses S. Livingston Ave, | worth more than $323,000:

: Give your old walls, Mr. Duck said sales are holding woodwork--and. furnitars {firm despite initial confusion over 2 dose of Kin-apsel anil. new credit regulations and taper-| co, nF on come to life-again. ing off in new construction AHS Goon: farther = covers Within the last six weeks; the, A three-man nominating com- Spann Co, has added four sales- Taste longer: SwTanovieg Tae

No More.

Six realtors were nominated 1951 posts with the Society of =-1No) : = last week to vie for three di- Residential Appraisers here, The committee, named last The New Method of

rectorships with the Real Estate Board.

Willis ' Adams, Warren M. At- Ohmart, wilt make recommendakinson, Lee Hargon, Richard Ho- tions at the Nov. 2T meeting of Why bother y y NEY Sty "a 48 berg, Hugh A. Teeters and Har- the ‘group. liquid, a av

old R. Victor were named by a six-man committee for the threeyear jobs. Three will be elected by Board members Dec. 14 to replace Frank H. Cox, Fred T. Davenport and Norman Metzger, whose terms

Candidate selection swere made Fieber,. committee chairman, Charles B. Forrest, A.

week by Society President G. E.

chairman of the nominating trio with Clem A. Dahlman and Walter M. Evans assisting.

TREE STU MP NEMESIS stumps, bore holes Jn the sides:

and top. Fill them “With a con-| centrated solution of saltpeter.:

Roach Control

peeded, kills reaches, ants, waterbugs and other crawling Insects and Is effeciive for many weeks. Invisible, odorless and slain. less, 4-9-2 kills roaches the sanitary, quick and sure way. 4-9-2 Is a professional in—socticide packed with power fo kill.

Arnott Exterminating Co. Exterminators ‘of Ruts, Mite, Moths 1

and Other Insects AVE. L1-7458

Harry M. Brammer was named

Keystone at 52d Nora Branch

New Winter Hours 7:30 A.M. TO 5:30 P.M. Open Mon. and Fri. Eves. Till 8 P.M.

To rid the lawn of old tree

249 MASS.

The wood will rot away!

H. M. Graves, Louis 8. Hensley, L. H. Lewis and RE. Peckham. Board President Bruce Savage last ‘month.

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