Indianapolis Times, Indianapolis, Marion County, 4 February 1951 — Page 37

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e Indianapolis

SUNDAY, FEBRUARY 4, 1051

ers

Real Estate : f Section. Four

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Build

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The Wee in Business— Stores Feel

Cold ‘Pinch’

Grocers Wail as Customers Dwindle to a Trickle

Rail Shares Rule Strong, Active Market

Reach New Highs for

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imes:

By HAROLD H. HARTLEY, Times Business Editor THE WEATHER MAN stepped in, took the controls ball, and put in a “freeze” of his own. He. chilled sales in department stores the first of the week with a glare of ice. Then he doubled back with deep snow, coldest temperature on the books. Cash registers idled as customers huddled around home stoves and radiators. Store Department stores were being|ciated in price by more than 6 per aisles had big bare spots. \careful about the price freeze or-/cent. Their strength helped the inThere was even a thinning out ger, Some set up special depart-|dustrials rise to their .best levels

behind the counters. Clerks could ments to police price levels, see| IR MOTE than 20 Years, although

the gain in this group held to a not get to work, especially those|n,s they don't get out of line ttle. more than dl iy

I ow-qraped Beres be-leven through an honest mistake., Rails rose in every ful session, | ’ 5 3 | Retailers, at the tail end .of the While the industrials met a bit of | Actually store sales went down price process were getting pinched. opposition on, Wednesday when about 33 per cent with the met myo. didnt raise prices until they their average dipped a fraction. | cury drop. And grocers began 10,4 gold their old merchandise at| Volume held well above 2 milwonder what people were eating. o)4 prices. When ‘the new mer-/lion shares in each of the full

Then they remembered the extra chandise arrived, it had a higher sessions, and finally crossed the canned goods which was cartediprice but they were stuck with3 million mark on Friday when home in the Korea hoarding spreeithe old one. {low-priced issues lured the specu- | last July and August. They! They're looking for relief. But lators. | thought that might be the answer. their big question is “How| Wall Street regarded -the chief) One store executive said, “It'soon?” > : market stimulus as inflation, but hurt like the devil. We were sur- Other businesses prospered. noted also that the list responded | prised that we got any business at Taxicabs, coal and oil companies, Well to highly favorable covpora-! all” And he didn't complain the gas company, all got the spin tion news. Re { about the blizzard-born absentee- of their lives. y Ignores Tax Request 9 jsm. “We had plenty of people to; But cab drivers weren't able to] It ignored a presidential request handle the trade.” get to work; and half the town’s|for an additional $10 billion in The stores already are measur- coal truck drivers either couldn’t|taxes, a wildcat strike of railroad ing -the weeks before Easter or wouldn't come to work. {switchmen, and the wage-price which this year arrives Mar, 25./ And the coal dealers asked|freeze which caused much confuAnd, they observed, too much “of freezing customers to “Come and sion in commodity markets where this sort of thing,” meaning get your own, take home a couple trading was suspended in most inweather, “will make those: frilly of bushels in the backs of your!stances. straw hats’ look pretty silly.” = cars.” While the rails made the best| a bi oo showing, other sections enjoyed £. good markets from tim# to time. {Oils “were excellent .in spots. Nearly all the steels rose to new ‘highs. Chemicals,” tire issues, imercantiles, . metals, electronics! lairlines, aircrafts, tobaccos -and| 8 liquors had their innings. Se-| {lected sugars rose and many] | special issues were strong for ispecial TeasonSs, - { On Tuesday when the market {was waning in the absence of a; inew stimulant, Santa Fe filled:

More Than 19 Years; Steels Also Soar

By ELMER OC. WALZER United Press Financial Editor NEW YORK, Feb. 3—Railroad

shares dominated a strong, active stock market in the past week. They rose to new highs for more than 19 years and appre-

Home Building

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list. ROCK LAT SHORTAGES have hit home building. Not bad yet, but the scarcity list is growing. Metal restrictions have tied up nails, They are not off the market, by any means, just a

littl€ harder to get. Builders expect it to get worse EJ

SNAILS ..". on the short

» ” BUILDERS ARE hanging on to their labor force, keeping as busy as possible with inside work in cold weather, But if » veterans are drafted, that will put a dent im the hammer-and-

ithe gap by proposing to split its icommon and preferred shares | two-for-one. F

}

|& St.

Next day, New York, Chicago Louis Railroad (Nickel

{Plate) single-handedly lifted the

tr id

ail average while the industrials {pped.

nail trades.

It’s not hard to get Tumber, .

but if you ask for rock lath,

you may have to wait awhile. » = ” AND METALS again, have tightened such "items as hot water tanks, furnaces and plumbing fixtures, Theres

Dividends Declared : On Thursday, the market was’ {appraised of the reason for the {strength in Nickel Plate. Direc-!| {tors declared dividends to ¢lear! up the arrears on the preferred land the stock soared 15 points. | All in all Nickel Plate ran up 307 points. Santa Fe, which reported] highly favorable earnings, gained more than 20 points. ; The Friday market developed - ‘whem the low-priced shares reflected higher public! participation in the list. On that day the first ten issues in activity] LABO

enough to keep going now, but the future is dark. And that roof over the home owner's head. 2 There is another touch and go point in the future building outlook. Spot surveys show asphalf roofing materials slipping into the “critical supply” stage. Asbestos

To

Zipping up a gas main. lt's the real thing. The '"Zipcoat" is being used in the new natural gas main to prevent corrosion of pipe joints. And there's no danger of flame, fumes or burns, a time-saver, too. DiS. Marfin, Citizens Gas & Coke engineer,

) x n A. plumber described everything via'zhes a workman zip the zipper.

as. short—substitutes bad-—deliv-eries worse. 2

Begins to Feel the Pinch Allocati

A a A lL FE

H scarce, lumber plentiful. i t

roducts are meeting demand, rdwevbre re: HRS "

HOT WATER TANKS, fighter. |

a

Lt Ae Se 0 HTN. ete

Real Estate ........... 37:39 a Business .. .....xuse. 00 37-38 Small House Plan verarine 39

lers See Busy Season Despite Materials Pinch

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on of Supplies, Labor [s Big Question

Plumbing, Heating, Wiring Equipment Becoming Scarce; Lumber Is Plentiful

The ‘Ifs’ in Home Building

You ean start your dream house now, as always: ONE: If you get a building permit. TWO: If the city okays wiring, sewers, sanitation, plumbing, ete, THREE: If you meet requirements of federal Regulation X increasing down payments and trimming mortgage schedules to 20 years under the FHA and VA. The government has allocated critical materials Tor 850,000 living units in 1951, compared to the 1,400,000 units of 1950. It has set credit controls, through Regulation X, to assist in that cut-back. s

By OPAL CROCKETT : YOU CAN BUILD your dream house in’ 1951 if Uncle Sam says yes. : That's the way it adds up for the town's hustling home builders, But how far they can go in the use-of materials and labor wild’ be ‘an ‘echo from Washington. They. anticipate an active year despite material shgrtages. The bugaboos of the building business are offset by a number! of factors: A ONE: Fewer homes will be built! as a result of the federal cutback furnaces are coming through. of roughly a third of the 1950 Electrical fixtures are scarce figure, That means a slow-up in because of copper and zine shortusing critical materials including ages, but plastics, etc, are being steel, copper, zinc, lead, aluminum’ substituted. and iron. In a number of cash lumber Two: Labor lide be substituted for critical steel. 4 sufficien arrin 1 . EES : World War II veterans, Here's the picture: THREE: Lumber supplies are| Plumbing Supplies scarce. adequate as are roofing Materials! Heavier shortages expected by ment. * a On: Many critical building Electrical Fixtures — Deliveries supplies may be substituted. [oRcertain, FIVE: Heavy inventories in| aint-—Scarce, critical items, normal for season.) Aluminum items—Scarce.

along with plumbing supplies bes {cause of cuts in copper, steel, iron and lead. Oil burners and radiant heat furnaces are scarce and delivery is slow on coal furnaces, but sal

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A major worfy of builders is action in Washington. They're! concerned particularly whether) FHA insurance authorization willi

be increased sufficiently to cover ‘new titles and FHA operations er:

i

building!

under existing titles, now under consideration by Congress. steel

, Hot Water Heaters Scarce, Disposals—Somewhat scarce. Asbestos-—Plentiful, Gypsum products—Scarce. Glass—S8carce, : i Briske—-Minor delays in de es. Cement Adequate supplies. Insulating products—Ample.

live,

Here

Hard hit are 's what builders, hardware items including nails ete, say: : RupPhets, in some sizes. ; jor: But fails have been scarce tor. 0 A WACKER oder ana three years, builders say. And Jumty Residential Builders Association last year 6070 Nving units, 8R__.y qyiny mmdianapolis builders all-time record number, were built, go on building in orderly nin oa anapolis and Marion, x, 0 consistent with the build~ y. ‘ing program outlined by the gov Heat Histallations are SCATCE ernment, with ample labor got z : ring drafting of veterans. ; | "A 25 per cent cut in the 1950 z = jloeal home-building ¢ of 8070 units instead of the federal cut “should be in Jine here in 1951 be-

R, shortage upcoming?

{

\ tax __y Up in the Antlers Hotel a week from ¥ \ ¢ ON t Burn Tuesday and Wednesday they're going to start a fire. They'll apply flame to drapes. But don’t worry, the place won't burn down, ¢ The secret lies in the drapes themselves. They will be Fiberglas, quite pretty and washable, but flames won't harm them. It is the Owens-Corning Fiber-profusion of products, glas show, the biggest glass ex- —— ‘ = oy hibit on wheels, and it will play decorative drapes which won't! two davs to more’ than 1500 burn, glass curtains, glass fishing} Fiberglas users. That's the right rods which have more whip in

. exactly t way Owens- them than steel, thermal glass pene Sxac HR he y wool, flotation fiber used in|

Homer Bisch, head of the Fiber- Navy life jackets and aircraft inglas office at 132 E, 30th St, was °\ tion.

contained no stock selling as — high as $30, and it was led by Real Estate—

two under ten—Packard at 51; . » : 238 in Marion County

Realtors Can Help Apply for Building Permits Valuation Tops $1,991,800,

Find P lant Space Abovut-Face From January, 1950

. . The 1951 building program in Marion County has flexed its Offer Co-ordination {muscles and found itself doing all right. At least on paper.

including |

) 2 | This is a show which industry! looking at his thermometer andy; yt want to miss if it uses| watching for the mailman Friday, ¢ ound proofing, fireproofing or awaiting arrival of his invita- temperature controls in any way. tions. “ Glass fiber is a new world unOwens - Corning, which never folding with amazing speed. And does things by halves, will have some day, perhaps not so far off, a five-man team putting on one- there may even be automobile hour demonstrations, and in this bodies made of a blend of glass team will be the personable, Yale- and plastics. mannered Robie Cone who's been. And this about glass, it's one!

trouping with the show.

To Aid U. S. Agencies 4

The nation’s realtors are sérap- | the county offices. & ing the federal government's This alone was a complete Space chestnuts out of the fire. period, when only 60 permits were Uncle Sam’s search for plant issued. But the true reflection lies sites and office space needs co- with the dollar valuation of the ordination, a cording to the So- proposed building. It topped $1,ciety of Industrial Realtors of 991,800 last month. the National Association of Real m= 8 Estate Boards. FOR THE RECORD, that Is

This flexing of the construction biceps took place last month

‘Recalled to Duty In Coast Guard

cause of our vast war industries. Operations .may be slowed down if we have to extend sewer and : water facilities in new sections.” Group Reports C. J. KRABBENHOFT, project 3 $195,750 Week . anager, Grinslade Construction TCo.—Builders will undoubtedly fs Ses of Nore Bide Realtors cunn needs provided the govern{Stayed right up Jere Ast WEEK: ment furnishes materials for the {They topped. 3195,750. volume of houses set as their 1951 | This was in spite of the mild! ! re AL target—850,000 living units. January “confusion” decline, when, “p00 natearials wi [neither realtors nor the public J Scarce ol {knew what the next day would; oo furnaces, gutterings, nails and I-beams which can be substi-

Remain High

{bring.

brought a wéve of 238 applications for building permits into

Owens-Corning will show all its:

hl

This is a

ment stops all new building. Con be counted as homes started."

Straws

Ind., last night.

"hope crater.” You'll see dozens of them around town, They belong to builders who got permits and started to dig. The holes are put dewn as foundation starts in case the govern.

And this applies to government : ; 4 about $1.5 million more than for branches growing in Indian- January, 1950

apolis, too. | George Kuhn Sr, of Klein & Only the months of June, July (Kuhn, and William A. Brennan and August of 1950 topped this W, A. year's start, and they brought building valuation totals of more than $2 million each. The force behind this sudden first-of-year spurt is open to ‘spec'ulation, but here are two reasons offered by men in a position fo know. Many homes are planned by young men subject to draft or mobilization. These husbands and fathers want houses for their families while they are in uniform,

material of which there's plenty! in war and peace,

| Brennan, Inc, industrial society members, have {their fingers on {the pulse “of lo- * (cal conditions. Both are. in Support of the association plea % for a clearing house to co-ordi-e% (mate federal inIdustrial space and site requirements for defense work. » . 8 Get Many Requests OTHERS ARE following the Mr. Kuhn said requests are re- population shift outside the city ceived from as many as 12 to limits, but are finding it difficult 20 government agencies a year to meet $12,000 to $15,000 home

Mr. Kuhn

EY (Continued on Page 38—Col. 7) (Continued on. Page 38.-Col. 2)

Here Are

tractors are hoping the holes will

\ \

a They had a hog house dedication down near Wallace, This was no ordinary hog house.

It was 125 feet long with air conditioning, automatic heating, and

electric lighting. Now the dedication of a hog event down in Wallace. And the threw a pancake and sausage supper, right in the hog house, And there was a door prize, too. It was--it had to be—a.pig. And I suspect it came off Leslie Myer's farm, because it's his hog house, " THERE'S SOMETHING you are not likely to see or hear in television advertising. Ads won't point out that a television set will allow you to see big _.8ports events right in your home

without moving out of your most]

comfortable chair. The reason is that TV is accused of hurting gate receipts. And advertising, in fear of offending sports promoters will not sug-

gest that you buy a set, keep your)

admission money, and stay away.

Hear Marold H. Hartley wit on WISH at 3 p. m, today.

qr

1ouse of this class is quite a social Lutheran Ladies’ Aid of Wallace!

GARY RUBEN, owner of the! Ruben Advertising Agency, is ex-| panding quarters at 140 E, Market St. He has doubled his space on the second floor of the Nash Build-| # ing and now serves 24 active ac-| © counts, | HENRY HOLT JR. has been 8lected to membership in the Chi- | cago Board of Trade, and that is the big one, a W. E. SPRIDGEON, Frost Air | Co., Inc., went up to Chicago last week for the sales session of the [York Corp. And there he got the

dope on how the company is go-| This two-story brick home with four bedrooms and three baths ing to meet the ‘cutbacks on air |ocated on 3!/; acres on Hunter Glen Rd. in Brendonwood has been (Continued on Page 38—Col. 1) purchased by Michael O'Grady, bowling alley operator, and Mrs. | O'Grady. Mr. and Mrs. Robert W, Greenleaf sold the house. Mr.

Greenleaf is a miller in'Greensburg. Kenneth P. Fry was the realtor. Fue

h “The Human Side of Business”

~¥

ay

Three Homes Which Have Changed Hands Recent!

| Willis Adams, ‘chairman of the ¢ytaq 1h {Associated North Side Realtors, g.o the uit Lear ig ably land Alfred Campbell, secretary,istitutes than at any time since {submitted to the Real Estate World War II.

{Board 16 sales. NTRS 8 | Included in the week's business ri NEY ROMER; Romer Elee- . were three undeveloped lots, 0, ers with courage | {and experience can go ahead with Off $108,350 {a modified program and realize a | Sales for the week ending Jan. reasonably active year. Plastics 27 were 13 below the figure for the and other substitutes are appear{previous week. Dollar volume was ing to relieve the shortage in {off $108,350, : !brass used in electrical fixtures.” | Sales included: FRED GOMBERT, sales man+ John Max Realty and Gregory ager; Hall-Neal Furnace Co. - {& Appel—2920-22 Ruckle St. “The bulk of 1951 heating in- | R. E. Peckham — Represented stallations may be hand-fired coal seller of 815 W. 3d 8t.; lot at cor- furnaces which do not require ner of Brouse and Northgate Sts. copper motors and pipelines used Bruce Savage Co.-409-11 E. in oil burners. If heating is de50th St, 6174 E. 24th St., 2032/clared essential sufficient maRoosevelt Ave., 5620 N. Delaware terials may be allotted for all St., 4115 Clarendon Rd., and rep- types.” resented seller of 4011 Washington, JOHN BAJ ER, owner; ABC Blvd, Lie ; Construction inc.— We need deThe Spann’ Co., Tne.—1931 N. cisions in Washington. We need Bancroft Ave.; 1045 N. Tibbs Ave. to know if Indianapolis will be a Ford Woods & Co.—-7060 Park defense area and decisions on Ave, ? house-building, price ceilings and or His Adams.-4 lot on 86th materials. St. near Central Ave, . y J Alfred Campbell — Represented de WARD vo IERSON, Fad buyer of 1809 N. Meridian St. “Lumber is readily available in Gerdenich Co, — Lot 23 G on most all grades and sizes and no

2900 Euclid Ave, short i 4 Knight Realty Co. Tage fn unt Tyvm bs

land Ave.

$150,000 Homes Project Slated For Udell St.

A $150,000 housing construction project in the 3200 block Udell! St. will be started next week by Hughey Construction Co. Inc. Paul Hughey, secretary-treasur-er of the firm, said heavy snow - Lt. Graves j 3 8 of : . {181 Bas preven: earlier San Lt. (jig) Robert H. Graves, ment. Another unit of eight realtor, has been recalled to achouses in the same price bracket tive service with the Coast Guard, Is nearing completion on 29th St.'to report tomorrow in St. Louis. in the Wesley Park Addition. ig, sorveq 22 months on Atlantic MR. HUGLEY oh completion convoy duty during World War II. of the 10 new units probably will Lt. Graves, who is 36, will keep close the firm's construction work his office open in charge of Mrs. in the area. Since she end of Grace Jones, Price Garland and World War II the company has ays patty Jordan. His wife and

built ‘about 100 houses there. The houses. planned for start six children will maintain resi-

next week will be of brick and dence at 270 Audubon Rd. stone veneer with three bedrooms,! A native of South Bend and full basements, tile baths and oil graduate of Butler University, Lt. heat. Each will contain about Graves last year served as treas1200 square feet. Sale price will urer of the Indianapolis Real be in the neighborhood of $15.000. Estate Board.

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3008 Grace(Continued on Page 39—Col. 1)

y

Mr. and Mrs. Kilmer W. David have purchased the home at 1402 Leonard St. Sellers were Walter J. Frantreb and Henry Beisinger, dealers in floor coverings. Mr. David, an auto supplies salesman, bought the house through Smiley Realty Co. and A. T. Porter, realtor.

This two-bedroom house at 3520 N. Colorado Ave. was pur chased. by Arthur Updike from Mr. and Mrs. Ralph- B. Hatley, Mr. Hatley is with the U. S. Rubber Co. Sale was handled by Knight. Realty Co., represented by Mead Knight, ~ealtor, and Hawkins. Whitfing Realtors with J. C. (Buck) Ewing as salesman. » x

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