Indianapolis Times, Indianapolis, Marion County, 3 December 1950 — Page 49
ness fass, Dec. 2 Laramee, 62,
rk for 20 years
sight. Then he ling business, loyed son the )- 11 houses in
= -
HOPS -
6:0.
ROY
UROY, lpper
DBOG1.00
'OOL
CREW 1edium
white
'OO0L n col-
1.98 verts
oL
Ep —— » =
pcan Som
. a
AR tr ROO SER I. Loni Eames TR
i
ea
| Real Estate |
: Section Four z
i
The Week iin Business— Early Buyers Ignore Cold
Hardy Shoppers Brave Snow For Choice of Chrisimas Goods
By HAROLD H. HARTLEY, Times Business Editor
SEASONED SKIPPERS who steer the big downtown!
merchant ships could have used three eyes, instead of two, —Jast week.
Each needed one to watch daily snow-slowed figures,
“another the swirl of inflowing crowds, and the third to look!
out the window, keep tab on
skies and thermometer.
In spite of the wi | — habit : do-it I eather, Something has happened in ap-| avitual 00 - It. - eary buyers piiances, including television. It braved snow, came downtown may be Regulation W-2, or it may |
last week with cold-pinked noses|P® and ears, and began digging away| ments. Aud It way Pe just: the;
the uncertainty of war develop-| gay when Gen. Douglas MacAr-
> Scratched gift lists.
But the very young, the very|Part of the ease-up to snowbound Was the beginning of “ old, and those with marginal highways. He could tell easily new war.”
at bountiful counters and un- “cather again. :
One store executive attributed |
health couldn't make the grade,| from his charge accounts that-the
for the most part, waited for a
weather break,
out-of-town buyers were not get-| ting in. That was weather, noth-!
Christmas buyers are blessed Ing else.
with the foresight of the- stores,
season. Stocks are strong, selec-
tions the best ever,
f
War Spurs Dip
But Stocks Snap Back |
Plunging Featured | Two Sessions; Rails | 1ead in Rallies By ELMER C. WALZER . United Press Financial Editor NEW YORK, Dec. 2 (UP)— {Stocks plunged downward in two |sessions this week as Korean War news worsened, and then quickly snapped back part way. Heaviest selling occurred Tues-
thur said entry of Chinese Reds
SUNDAY, DECEMBER 3, 1950
$1.9 Million
East Side Project Calls For 225 New Residences
Functional.
i ‘Home-of-the-Year' for 1951
on the side of the North Koreans
The list had declined on Monday | but recovered nearly all its losses. | In the Tuesday break the indus-! trial average declined more than
! But there never has been a gix points. Further selling Wednes: which bought for their biggest Christmas when there was so po :
much to buy and so much to buy it with. The smart ones will get
But stores have yet to feel the the cream of choices. They'll be
full pull of packed aisles, yet to in first. There is every indication - that more money will be spent be bumping through gorged elbowever. One mer- bristling aisles, breathlessly tagchant estimated this year’s yule ging clerks to try to do in hours buying would be up 10 per cent. - |which should have taken days.
come.
for gifts than
And the habitual tail-enders will |
|
i
a
Under the river . . . Here's camera proof that the new natural : gas pipeline is crawling north. This is part of the 86th St. link on | ' the. Citizen's Gas & Coke Utility's tube which goes under the | * river. Note how pipes are wrapped, with "sinkers" attached. |
| a * The employment picture has a Nien and Materials jiggle of uncertainty to it, ‘like a TV picture off tune. : | Demand is burning the wind like a runaway colt. But feed for! the machines which turn metals into products is alarmingly scarce, | and high-priced. : | One purchasing agent broke] ! ‘down, spilled the truth: “We talk good side, It means we're getting] ‘of gray and black markets. It!something back for our Marshall ‘sounds illegal but it isn’t. But Plan money.” ‘this pirating. It's terrific. But he] Here's how unusual tonage, he admitted, “most of us are con-|/said, gets into the hands of the! ‘tributing to it.” i mark-up boys. They get a lot of He pointed out that steel which /scrap steel, needed to make new! {should be seven cents a pound|Steel. And they seil it with the ‘is being offered in big tonnages|provision that they can buy so| at 18 cents a pound. “And it'simuch new steel at the going | scarce at that.” (price. Then they put the chisel! And plating materials, nickel, |to begging factories. i chrome and cadmium, which nor-| Some of the.big companies are. mally sell for $2.25 a pound are buying. “billets” and . shipping | scarce at $5 to $7 a pound. them around to get therm rolled It was his hope that federal into sheet steel. The freight must controls on use would hammer be added. It runs up the cost, | down prices. The biggest specter is tempo- | He pointed to copper. On the rary unemployment caused by the "day controls were announced, he/lack of materials which often said, scrap copper in the refinery holds up manufacturers who market drepped from 28 to. 20! sublet parts contracts. | cents a pound.’ Example: RCA is down about European sheet steel makers 1000 employees in the last few are dropping it by the chipload|weeks.. Reason given: parts in New Orleans and New York. shortages. i With the haulage even this is| One TV distributor listed them: double the regular American picture ‘tubes, transformers and price. “But,” he added, “there's a| tuners. With price supports withdrawn,
The Egg and Why from eggs, housewives expect pe|
buy them cheaper. And ‘they will. But lack -of supports won't be the reason. «|
day sent the component down more than two points. But the Wednesday market already had begun to rally under) |
the lead of war issues, notably
the “rails. The rails led prices higher on Thursday and Friday but the rally was insufficient to wipe out all the maket losses. Rails, however, came within 14 | points of their high for 19 years. |
Steadying Influence - | During the time the market had the war jitters, long lists of favorable dividend and earning news
failed to stem the decline. They did, however, help individual
shares and had a steadying in-|
fluence on the market as a whole. A number of the railroad issues anaged to close higher on the week. A few others in the chemical, utility and special issues showed plus signs. . But in thé main the list was lower, Automobile issues were hard hit on outlook for a further reduction in their supplies of raw materials. Building issues fell on outlook for a cut in construction of new homes. i Coppers were down and they| made only a partial recovery as! the government set cuts for civilian uses of the metal. ‘Demand for the cheniicals which came after the decline reflected a belief this group was fairly well sheltered against excess profits taxes. New spending in sight for aircraft boosted stocks in that section, some to new highs. Television issues were hammered down for a time on outlook for further cuts in their production schedules, but they, too recovered on buying by speculators and some short covering,
Waltermire Adds Realty Salesman
Real estate is full-time business for Walter Hackler now, : The 68-year-old Hoosier native joined Realtor W. N. Waltermire in general reaity f operations after . buying and sell- . ing property “as ' a sideline” for 256
years. ! A licensed salesman, Mr.
Hackler was with Advance Products
years before entering the real estate business.
Mr. Hackler
Prior to this he erated a barber shop at 57 Vir-
I talked with Hobart Creighton, the big chicken and egg man 8inia Ave.
from Warsaw (Ind.) and he told me the market is brisk and prices | will stay fairly firm. But we're] i at the turn in the season. Prices| But he predicted no demoralized will slip a little. {prices because of the lack of fed-Ruddy-cheeked Mr. Creighton, era] support money. The demand.
ning to lay. That means a better supply.” =
. Outlook in the Nation—
(Cont. on Page 50—Col. 1)
pe pi a
Getting Set to Go All-Out If Necessary
Part Mobilization Will Bea Test ~~ .
Of Industrial Ingenuity of Nation By J. A. LIVINGSTON THE CHINESE REDS have not changed the na-
tion’s economic outlook. They've intensified it. The United States was becoming a garrison state before General MacArthur's win-the-war offensive was rolled back. Now the United States is becoming a garrison state at a faster tempo. . He . But it's not the tempo of a hundred-yard dash—a sprint
planes, tanks could be stepped up for an all-out war. ’ Secretary Marshall is not alone. The National Production Authority, in announcing a Jong-contemplated 15
He lives at 1356 N. Gale St. with his wife.
Set Yule Fete
The annual Christmas party
N Association on Dec. 20 in the Marott Hotel Ball Room, ;
wath his rapid-fire tongue, eX-|is too good for that. And he said| Will be held this year by the ou a beter" -removal--of prices a
ahead of military orders, theres by causing widespread dislocations, idle manpower, and waste of industrial facilities, = /
We might as well get/what civilian . production we can while we can — so long as it does not consume irreplaceable strategic materials. Yet the outlook for “partial mobilization” could alter over-
. night. The quickest way to get war production started is to put ceilings on civilian production. That forces manufactur-
© and then it's ers to scurry around for war or- | corp Sommnyio, declared ers keep thelr plants an Sec- limitation o Is to be ox employees at work. . refary Mar- ; pected immediately. It results in maximum .disshall Joints Mak Gi - combobulation and confusion, out: the Make Hay Now : but, also, maximum. speed in pation faces & NPA DOES NOT want to reconversion. Plans to date “long period of slash civilian production far have been for orderly.transition, te mot : i . | sikout mob TWO SIDES OF THE COIN i | but getting Production is up and unemployment is down: | for manpower becomes a critical bottleneck. | mobilization if Mr. Livingston | "5 : | mecessary. ! . He warned against “building up great piles” of munitions for the obsolescence
heap. Part mobilization will test * American industrial ingenuity. Most industrial companies will. have to divide their operations:
an entirely | } 3
| By Times Real Estate Editor i
owned and op-|
The 1951 “home-of-the-year" .
Real Estate— -
Analysts Going
Out on a Limb
Year-End Brings
| Rash of Forecasts |
| From now on that crystal ball| {will get a high gloss, a heavy! {working over. i | The calendar's inching toward! 11951.
[the limb of his own tree of pro-| {ducing and consumption, buying] {and selling. That tree, depending on where he stands in the forest, looks tall lor stubby, sturdy or weak. | Coming down to housing, the big cry has been fewer new starts, firming of prices, higher building costs. 5 {
But one voice last week sald a “big war” in the next year | can change all the cries, Especially, it could deflate home | prices. Instead of inflation with scarcity, house price tags could | level off, maybe dip. That came from John J. Wagner of Iowa, past president of the]
assuming a sheltered outlook, but; “don’t call me a forecaster.”
A student of the ups and downs! in business, Mr, Wagner said, “We can't afford inflation; prices are
es and all.”
(Cont. on Page 51—Col. 3)
And every analyst gets out on =
: ir. i ne Loving
Construction Start Planned
Next Month
Grinslade Company
. . centerpiece for the 26th anrual Indianapolis Home
poscy’ Neon,
» SPARE) a
{Regulation X
i
Beco isha Sronk !
Will Be Builder Looking for a new twoe bedroom house on the East — ; ‘dwellings starting next year. Show next April, - It's another community off : 2 Grinslade Construction Co. And ew [ojec | g like others where the days be- . will be easy on the pocketbook, J {long in living values. N . | p es ! Ritter Park will be the biggest i squeezed ° credit Acreage Purchased cards in October, the bravest ven= : |struction pitfalls. 4 North Side realtors hung up| The project mirrors’ in number {POTt Of the year last week. sold by Brothers Tom and C. O, And in so doing, one of the 38 Gringlade in the past two years, {another de luxe housing colony jon, (for Hoosier home-hunters. Construction will start early
Of New Community Side will be easier by 225 eet. ——— ithe ‘drawing boards of the gin in Indianapolis, this colony (housing. project planned since Por Lieber Rd. Homes ture in the face of further con. {the sixth highest realty sales re-\gn4 value dwellings begun and |affiliated brokers helped draftirs will cost more than $1.9 mile | This was contained in the re-next month, a big new year hello
‘3 ; | port issued yesterday by Asso- for shelter seekers, with work on Boo |ciated North Side Realtors. {48 houses along 20th St. between § {~ Member-realtors reported 60 Hawthorne Lane and Ritter Ave.
| completed transactions for the Cost: $410,000. !week énding Nov. 25. This rang Three Main Sections
® |up $625162 on the realty reg-| m.. contmunity. wit emerge’ in
Functional ond Compact + + « the winning floor plan for 1951. | Terre Haute Architect Grabs Home Show Prize
3-Bedroom Contemporary Dwelling Picked
As Centerpiece for Sp
ring Housing Fete
action North Side real estate. The ne-!
in “good will.” 2% The report brought a two-week
total of 111 sales worth more than $1.1 million in Marion County properties.
Topping the sales was a transinvolving 23 acres
gotiations, handled by Realtor Fay Cash, will put an $800,000 project in the shelter parade
More functional living in homes for Hoosiers is inching near. sometime next spring.
It's wrapped up in the 1951
| chinery for next year’s edition of the Show.
The Society of Residential Ap-
bound to come down. Maybe an praisers will toss a double fete all-out war would do it, high tax-'Dec. 18. [hold its annual Christmas party Planted Hoosier—Ewing H. Miller He warned realtors here last and elect 1951 officers that eve- Of Terre Haute. week the market will be “ex- {ning in a dinner-meeting starting
The city chapter will
iat 6 o'clock in the Indianapolis {Athletic Club. »
Hugh Teeters
| Mrs. Teeters and | E. W. Eaton on Staff Another new real estate firm jrolled into the brisk Hoosier home
{buying and selling market here
last week. | It's new name, the Hugh Teeters Co. But its representaa tives are “old”
They were all members of the f o r m er. Butter-
ship beyond this. The new company was formed by Mr. Teeters| following termination of his (partnership ership. with Robert M. But{terworth. However, former associ|ates will continue realty co-opera-
Mr. Eaton
rather than for utmost speed at all costs.
Red Reserves MILITARILY, in the sense that United Nations troops are above the 38th Parallel, we're better off than we were five months ago when the North Koreans made the initial push. Insofar as the intensified rearmament program has already got under way, we've gained time. And we have learned
New Real Estate Agency
Organizes
Plan Double Fete . |
“home-of-the-year.” And it'll be!
It'll be a three-bedroom, onestory gem, Mid-Weatern in taste, like its 25 previous bell-ringers. The house comes from a MidWestern hand and mind, a trans-'
The design of the Toledo, O., native was picked from 29 entries in a national] competition. | Mr. Miller's blue-ribbon is right!
|
it's contemporary with a smooth-
Wide Screened Patio
dwelling, overlooking the rear of | the wide back yard the house is! designed. for. ae Lines are simple and structural,
|
Mr. Teeters Mrs. Teeters
| tion as members of Associated
Mr. Teeters’ firm exemplifies! the “professionalized service” motto, with Salesman Edward W.| Eaton and Mrs. Teeters at the home-office, 7080 Evanston Rd.
~ Mr. Eaton, who joined the former Butterworth & Teeters company in February, is a graduate lof the Amos. Tuck school of husiness administration at Dartmouth University. _Prior- to his. collegiate study, Mr. Eaton worked with the Black & Eaton Mortgage Co. of ChiHe was with - StewartWarner Corp. of Illinois following graduation except for two years he served with the Eighth Air Force in England.
The former AF major is a member of the 9591st Voluntary Air Reserve Training Unit, is married and lives with his wife and three children at 7968 Evanston Rd. He is 36. -Mrs. Teeters, who will assist company operations, is a graduate of Stephens College and Nebraska University. She has coached plays for the National
and floor to ceiling “outdoor-liv-
North Side Realtors. Fr
the Manufacturers building at the State Fairgrounds.
with “small” front yard windows
ing” room portals. The house will carry a price tag from $25,000 to $30,000. i The blue-ribbon and $500 was! given to Mr. Miller yesterday by J. Frank Cantwell, managing director of the Show. .The winner and his wife are team members of Miller & Vrydagh, Terre Haute architectural firm. - 4 Mr. Miller will be invited to pick up more marbles by drafting working drawings and supervising the construction of his model in
He sold the acreage on Lieber
| Builder Harold Honderich. The
Indiana National Bank, Grading Under Way
{ister. It notched more than that three main sections on 28 acres between 19th and 21st Sts. and on {10 additional acrés between 20th |St. and 200 feet south of 21st St. least of Hawthorne Lane, | The project is immediately
¢ north of John Bauer's Hawthorn of /Manor, the A. B. C. Construction
Co. development. A proposed business section at 21st St. and Ritter Ave. is also in the making to service the new community. Project Manager C., R. Krab.
National Brokers’ Institute. He's) shown in frame, stone and spotlight Apr. 20-29 at the 26th annual Rd. south of Kessler Blvd. t0ennoft said minor delays are exbeen around in shelter, without| housing festival, the Indianapolis Home Show. Selection of the exposition centerpiece yesterday oiled the ma-land was owned by the Union : | Trust Co., now merging with the
pected during construction, but the company has “good suppliers who - will help us build these homes like they did in projects jalong Colorado, Euclid, Linwood,
Grading and utility installationsRiley and Bancroft Avenues in
are under way now for some 20 in the $30,000 - $40,000 Honderich said.
homes bracket, - Mr, Home construction will begin when winter thaws into spinachgreen spring, he said,
The project, 1.3 miles west of N.| | Meridian St, will be blueprinted in li i li ol n line with Hoosier home living Although ly compact floor plan and most | tailor-made; the homes will not be of all, it brings the Indiana out-| built on contract. They will be doors right inside the living-din- | erected as a speculative venture, {ing quarters. |
as Highland Manor,
Mr. Honderich said.
The colony will be all- ranch The living area of the center-|Style homes centered on "rolling piece leads onto a wide screened !and 180-200 by 225 feet, the
tio al the b. {builder said. Unforeseen internaPatio. along the packside of the tional developments temper the
plans, however. Besides this sale of undeveloped land, the Associated report also included exchange in ownership
(Cont. on Page 50—Col. 4)
” I
the last two
all the innovations in economy production, large picture windows, larger lots, Mr. Krabbenhoft sald. Prices $8500 to $8600 Houses will sell between $8500« $8600, up $900 over dwellings now being completed along Colorado Ave. The difference comes in increased matérial costs, lot ime provements, utility development, street, walks and driveway addi. tions, Mr. Krabbenhoft explained, Company officials currently are negotiating for Veterans Admin. istration commitments for GI home buyers. All financing will be handled by Railroadmen’s Federal Saving and Loan Association, GIs can pick up keys and deeds to property for approximately $875
(Cont. on Page 51—Col. 1) ? .
» -
Student Is Runner-Up Runners-up in the competition; were Ralph C. Huszagh, a student. at Cornell University and son of
Chicago architect, Ralph D. Hus-|
zagh; Ralph R. Knapp, Evansville, a senior in the University of Illinois school of architecture; Augusto Tono Martinez, also a! University of Illinois*student. = | Honorable mention went John H. Jelliffe, DePauw Uni-| versity graduate, and member. of the Lennox and Matthews archi-, tectural firm here. | Showing of all designs will be held in the Home Show headquarters, 1456 N. Delaware St. Jan.!
6-7, Mr. Cantwell said. Richard E. Bishop, local architect, served as professional ad-
Cont. on Page 51-—Col. 7)
(Cont. on Page 51—Col. 4)
_ kl # ST
=H Fl
Work wil start early ne along 20th St. the first of 225 1951; -
month on more new
The dwellings will incorporate.