Indianapolis Times, Indianapolis, Marion County, 11 February 1951 — Page 38
13,1951
eorge GreenCroker and
sea, Willlarh
Jowles, Mary y H. Buhner angements. ——————————
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~ The Indianapolis Times
SUNDAY, FEBRUARY 11, 1951
Real Est
bb.
Week in Business—
Freeze to Stick
Cold Shiver Hits Trade With Early Easter on the Way
ma
" By HAROLD HM. HARTLEY, Times Business Editor LAST WEEK THE PUBLIC learned the truth.
The only two places the word “freeze” really means
what it says are (I) in the dictionary, and (2) on the sidewalks. ‘
In prices and wages it proved to be a tissue-paper word, and pretty much in shreds. The teeth-chattering freeze — . : miners can pick up the olst prohad made 3 much bigger M-|4uction in the next two weeks. pact on business. By the end
of the week most merchants ‘and the weather man were no longer Feasonl Was thal pricing la 3 long on speaking terms. process from the basic raw maEaster is just six weeks away, terial to the retail purchase. And and Mark Purcell, the Rushville until that prucess completes at weather-caster, whose aim has been deadly accurate, has handed out the word, “Real winter deep into March.”
there will be some slippage up- | ward. | Restaurant owners were comThe rail Strike petered out.\;aining, So were their customBwitchmen “got well” got backiers, Some eaters-out charged on the job, found the yards in a restaurants with holding the price jumble, and began the slow, te-/jine but cutting portions. dious task of unraveling the cargo regular- eaters-out, often knot, i It was the old story. They lost ranteur said, wages, the railroads lost business. |ot.”
The miners lost working days,| Industry was getting tired of its and a few industries including position. It had been standing at!
“can be a crabby |
Studebaker in South Bend, and attention bidding civillian pro- Waich the experts object are local {plumbing codes requiring twice as|
one or two smaller ones in In- duction a prolonged goodby. dianapolis, cut payrolls.
The strike hangover, if the
slight shortage of coal,- unless they're coming.”
i | | |
| | |
This little gal has a glass fishing rod, honestly. It's a part of | the Owens-Corning Fiberglas big $50,000 “road show" which | orans Tuesday for a two-day stand. Six trained Owens-Corning commentators brought the show, and Homer Bisch, Indianapolis | representative, will have architects, builders and industrialists in.
It will be at the Antlers. :
. * The Price Control office is getting its first Timid Tattlers sweet taste of public vengeance. customers telling on profiteers. Last week shoppers began to show up at Vernon Dwyer’'s Price Stabilization Office at 730 E. Washington St. One man said his grocer had upped the price of a two-pound brick of cheese. But the complaing| —————————r em mmrtr—ioyant couldn't pin it down, said he'd former OPA man who's spent the . He between-war years in the remodelgo back to find out Imore, ing business, kitchens and th wouldn't even tell the grocer’s/'N8 8 ’ e
hame. . !*> But the Price Office made no There was some gentle “beef“so ret of the fact that it is already Ing” on meat prices. But again o.,..aning ‘men for key positions it was hard to get the facts. The gq, h as heads of industrial prices, Price Office took down names, gnq accounting. There will be five and addresses, and the tale of the ,. ¢iv in these semibrass jobs. price violations, quite dutifully. An office spokesman said, These were shuttled to a neW.were surprised that we've not man in the office, Price Specialist ,,q nore complaints. But in a Claude Stenniford, economist yaoi the office will hear’ more from Earlham College. He is the ¢4¢i)ing _ tongues of price pained one who is supposed to KNOW ghonners It will ask the public pretty well if the grocer is out of 5 qo the policing, come in and line. Files are being kept on every {qi ail.” report. The office 1s doing something These will begin to show up about translating the legal dogma violators. Too many. complaintsinto back fence lingo. will point the finger at the trouble! And soon, out will come a quesspots. tion and answer routine which will And that will be a job for an- do much to lift the veil of legal other new man, Walter Deuser, mystery, and block -long seninvestigator for consumer food, tences, from the official order where most of the squawks are which is to rule the pocketbooks supposed to come from. He's aof the land.
. . Food prices had their ceilings, but they Food Sits Tight had no floor. The independents and the big chains were price battling as hard as _ever during the week. At. least one big independent slammed coffee at his chain competition at 69 cents a pound. 20 cents under the going level. And the shortenings were bouncing around as low as 89 cents a can when it should sell at $1.15. |—- ——n - - ” - And even sugar, the war baby, rail strike or weather .up north. was still playing football among It was the way the cold hit the the supermarkets, going in spots South. at 79 cents when it ought to Tre Lenten season came long . $1.01. to give eggs, fish and macaroni a bring. oge grocer ton Ie, $1.01 battle for the food dollar with fast days helping them swim the
There were stories that if prices
, quality of canned goods may ; sign here which read Meander against 101.3 per cent or 2,025,000 hold, 4 ; ® tide against normal meat demand. Inn, So they did. They meandered tons, the all-time high, the week eyes on a garden plot this year.land president of the dramatic Chapter of Producers’ It is unlikely you can escape cast of the Murat Shrine.
slip. One broker pointed out to, Customers were buying eggs me that it was easily done, espe- “right and left,” one big grocer cially in fruits, where the adding said. . But they should have, he| of sugar needed to make it pala- had them at 49 cents a dozen, table could be shifted from the and Grade A Large, quite 4 conpacker to the housewife. He just trast fromythe just-under a dollar] puts less in. And the quality of level of not so long ago. the fruit can drop. And grocers were pushing LenThe weather gave produceiten dishes, printing recipes in prices a merry whirl, along with/their ads, and at point of sale, the railroad strike. such as the
0
and most citrus fruits. Then cab- a cook-up of two cans of tuna bage acted up. But it wasn't thé and one box of macaroni,
Indiana's coal miners were knocking récords around Straws like ten-pins before the rail trouble hit last week. Their January production topped any month since January; 40. 29 Oe estimate was 2,349,000 tons to start off the new year. And for this they toss orchids 19 better supply of railroad cars and good operating time. - . . 8 What happens toe the February's blight is anybody's guess. AMERICAN AIRLINES, INC, ifs doing ali right too.
coal! Total revenues’ for 1950 soared strike 10 8 new peak at $118,685,000. The net income jump for the year was equal to $1.40 a com-
(Continued on Page 40—Col. 2)
* Hear Harold H. Hartley with “The Ayman Side of Business” | on WISH at 3 p. m. today, = re :
s
Winter Ice Only
Hears NPA Limits
| word
TAKEN LITERALLY
Homes On
hb i No Ss | RNs ; v d 4 : SEK Ny
"Maco-Tuna Casse-| 3 Lettuce soared, so did oranges role” which; ef course, was merely| |
Slice Waste In Building, Experts Urge
20-40 Pct. Saving In Home Costs Seen Possible
Times Special
NEW YORK, Feb. 10 — Cut| .
#
‘Cra
the American standard of waste,
{not the standard of living.
|
|cheaply. Estimates were building cost reductions of 20
Prices were standing still. The 40 per cent from current levels
can be made.
{ The program 1s advanced
{the February isspe of the Maga-|
|zine of Building. {| It calls for revision af “sen
prophetic jeast one cycle under the freeze, 1e8s” requirements imposed upon {the building industry by obsolete
{local building codes, union rul
mortgage requirements and other! from
|regulations which vary state to state and city to city
Indianapolis and parts of Mar-! And lon County already operate unun- der “performance” building codes anchored and bored, one restau-/ Which follow the lines advocated
by the study group here. U. 8. Action Urged Specific building cost wastes
“Give us the orders,” they said. much pipe as the new national at a And the government, in effect, code; wasteful electrical codes; exweather stays cold, will be a replied, “Keep your shirts on,|cessive foundation requirements oice 0C S f for one-story homes; structural ! |over-designing of small houses + : {which waste lumber; lack of bath‘room layout standards; lack of S Id Ing dags |ceiling and sill heights standards, jand complicated steel or Sement,
septic tank requirements.
i | They contend better homes can| Ibe built with 75 per cent less use Steel, Auto Output
of copper, 50 per cent less cement, |
less lumber, gypsum and steel.
They recommended that govern-| withhold scarce quieted this week as the market materials from building projectsiencountered mild resistance to|# {which go not cooperate in reduc-(the upward trend. ~
ment agencies
ing waste,
| Represented on the committee
were five practical experts nominated by the
cated Home Manufacturers I
stitute, technical schools research|t0 around the lightest of the year.
{men and representatives of ma-
terial producing industries.
Mortgages Filed Fewer, but Bigg
First month's tabulation
11951 mortgages in Marion County show a $1,262,539 increase over|
January, 1950. The summary, compiled by t Union Title Co.
169 for the month, Total for January was 1356.
The 1060 mortgages recorded (was a drop of 40 from the 1950
total.
for $1,738,200.
William F. Rightor Jr.
T.ocal builders expect the on curtailed commercial construction and materials this week,
William F. Rightor Jr. dis-
trict National Production Authority manager here, has gone to Chicago for NPA instructions. NPA officers were told not to act on applications for commercial construction until Thursday, when the ban went on last month.
MILL CITY, Ore., Feb. 10 (UP Prowlers noted a roadside caf
ut with $250 worth of loot.
linson by Mr. and Mrs. R. H. of the utterworfh Co. Mr. M Co. regional manaos
=.
This was the advice of a group| yof home building experts who
‘contend homes can be built more that
construction |, rose on Monday. declined on}
Na-! 1 day and Wednesday and then (tional Association of Home Build] Tues Yang ¥ Se ii
‘ers; chairman of the Prefabri-|
showed that {recorded deeds have declined by| however.
"This French Normandy home at 6115 Soring Mill Road was sold Yo Mr “and Ms.
to, in| sees,
|
to!
Rail Strike Cuts
| By ELMER C. WALZER
United Press Financial Eidtor NEW YORK, Feb. 10—Stocks
| However, the list showed gains
in major ¢ategories on the week.
resumed its rise,
n.| Meantime, sales volume. fell off | Wall Street said this was a’ highly favorable development and indicated further advancing tenden-| cies ahead. | Traders ignored a railroad)
Builders want permanent defense housing, which won't become slums in a few years.
But none of this stuff—it costs too much, falls down too soon.
ate .....o.. 394|
Business ............ 3940 Small House Plan ....... 41 Automobiles .......... 52
vilding Men Here Hit ker Box’ Housing
i
No “cracker-box"” defense That's the word from In
stood the tests of time. And they also believe that the Housing Bill will slow up private building and finaiicing. The Housing Bill set up one-to-four family stru¢tures of ‘“per-
manent construction.” Builders eye the words “permanent con-
Defense housing built in the last war already is falling apart. And as to financing, the new bill, the builders says, is a “muddle.”
here by 25000 defense workers,
executive vice president, Marion County Residential Builders Asso- |’ ciation, Inc. Many more will need houses when
employment peaks are
and industries.
ment in some industrial production due to materials shortages,” .according to Frederic Beyer, man~ ager, industrial department, Indianapolis Chamber of Commerce. Where could defense.
defense area? Lots Available
lots inside the city, districts and in fringe areas, in all directions. ‘It would be more desirable to go to those districts for housing than to move out into
|strike, a giant tax demand from
@VrI the Treasury, including a pro-
‘ll Still Be S posal to raise the capital 2 There 1 e up
of tax, and further price-wage freeze
uncertainties. {| During and before and after| |the sessions of decline, the trad-| ing element sought out issues be-| lieved to be behind the market. | This brought sharp gains in many | special issues and in selected stocks of the major department.
he
busy fi hile anyway. Mining Issues Gain you busy. lor aw) nyway
| There were many items to helpiand
{copper production.
tion picture issues were given ato any home. whirl on the belief they were be-| These include . hind the market. | American Woolen rose on good » earnings, and other textiles had a 4 good market most of the week. Television issues were in demand lon news the companies will do a {big war business for the government. Aircrafts continued to respond to good earnings outlook {for those companies. . | General Motors sagged after pass lits directors declared a $1 divi/dend on the common stock. Some had anticipated a higher payment, {although the figure was in line] {with the experts’
nickel
and bronze hinges, |glistening rods for shower tains. | Kickplates on your doorways calculations, (Will probably lose some of their |The issue came back later when 8108s too, if metal curtailments
: » {the whole market improved. |continue,
Utilities High
There were some ladvances such as Clark equip- critical materials w iment, Boeing Airplane, Atlantic/t; these parts. Coast Line, Southern Railway, - | Western Union, Bulova Watch, Sisappearance of {some Standard Gas preferreds, and I.ukens Steel. Oils registered
sories,
good gains on the week. Lead- Work, supplies may get a little ling steels eased. Utilities made tighter, and again you may have lan irregular advance. to change your choice of ma-
The railroad strike brought a terials. decline in production in many| Aluminum used lines, including steel and automo-|/and doors is edging bile,
into
by Ward's Automotive Reports, tional buildings. This compared with 151,206 in the previous week and 125,737 in the off yet but quantity corresponding week of last year. cannot be guaranteed. Steel mills reduced operations ) to 96.7 per cent of capacity and from around - the - house e turned out 1,933,100 net tons, labor. ‘ Mayhe the
“missus” has
before.
}
Spring Mill
ne Br i % Ld
Harry Mal.
Jordon. Sale was handled by Bob Johnson and Mrs. Dorothy Guyot
allinson is an Eli Lilly & Co. @kecutive. Mr. Jordon is a J..C. Penney
rf a
For Your Home Tinkering
Substitutes May Appear, but Maintenance “Materials Will Be Available Don’t throw away that tool box, Mr. Tinkerer. Indianapolis suppliers expect enough hardware material to keep
They may not have exactly the thing you want in every case,
| erties rose onjand replace that rusty hinge you to Manufacturers indications the Chilean govern- have been intending to get sinceunder from Barrington ment will cut taxes to stimulate last spring. { Probably your greatest trouble! | Rails in several instances re- will come in your search for the sponded to higher earnings. Mo- “shiny” pieces that add attraction 'akes and even grass and prun- tion. Only private industry can|
and Vventories, chrome plated faucets, polished
and cur-|
‘OK’ Mannan Co.
| Even the handles-on your faucets and spigots will undergo very wide a change, Plastic and other nonill be assigned You can expect colored acceslike blue tinted bathtubs.
When you move to the outside
for windows
the departments, He government defense stockpile.
Automobile production was esti- Some already completed are being mated at 118,670 cars and trucks reserved for school and institu-
Steel frames haven't been shut shipments
But this alone doesn't save vou gpring
her
the country, away from facilities,” according to H. W. Claffey, vice
plies
hg Town Hall Board. |for defense housing when Con|8ress passes an act. Here's what ‘they said in a spot checkup by
. you may have to do a little shopping around to get specific myo Times: | Dollar mortgage volume of individual stocks. Mining Issues jfems. But the chances are you will be able to install that doorknob ; 1$7,123,768640r last month did not with Chilean prop include one y Trust Co. It's the yoignts, Inc.
Henry Ostrom, president, Osclause. trom Construction Co., Inc. — {“Defense housing must have all {the experience, interest, steam and 2nd push of any type of construc-
the “no tools” {Major suppliers have got ’em. Tools in Stock Yep—there are spades
i
{ing shears in the Indianapolis in- give it that. When the gavern-| {ment is in business it’s out of its! That stock volume probably Sphere. It has to have some red will dwindle under steel cutbacks, 'AP€ to protect itself. Private in-| one distributor said. Especially dustry can and does cut out red| in Shears. tape, saving time and money and! But the market isn’t expected giving better service. Let's all get to get too short for this season. '© WOrk and quit kicking.” Just when it will come depends CHARLES WAGNER, vice on the length of the emergency president, Burnet-Binford Lumber and possible upswings in demand, 0" 'Any house that is built
dealers said. om It's still too cold outside for (Continued on Page 40—Col. 1) |
that sort of work, however, 50 Stockholders to’ Meet {
| (Continued on Page 40-—Col. 8) On Merger Propesal
NEW YORK, Feb. 10 (UP)— {Stockholders of both Tri-Contin-|ental Corp. and Selected Indus-| [tries, Inc., will. meet separately! (Mar. 8 to vote on muorging the ah) Myers has joined former closed - end in estment e annan Co., Inc. He is company into the latter, the two a real estate broker, companies announced today. Mr. Myers, who is 50 years old,| The merger would combine two and his wife live companies which have similar inat 1461 N. Drex- |vestment policies and substanel Ave, : tially the same managendent, In The new affili- addition, Tri-Continental owns 43
Cliff Myers Joins
ate was em- ”» ee . {per cent of the convertible and 21 ployed in the : per cent of the common stock of | Gamewell divi- - dom Selected Industries. A es -
sion of the city police. and fire
i
Victor Re-elected | ‘Colonial Loan Head
A
Mr. Myers
served as assis- . tant superin- A tendent there for the .paSt eight years, Mr. Myers belongs to Wallace Street Preshyterian Church where he has served as elder, deacon and R.
been re-elected president of the
ciation. Re-elected as directors were A.
Reeder, agsociate member of |
_ struction” suspiciously. {
Housing soon will be needed]
There are thousands of vacant | in outlying]
president of the Marion County|Indianapeli Planning Commission and chair-|PY Willis Adams, man of the Marion County Zoning
“Speedway City could grow to $632,680 double its present size and handle|the sales volume. of t Hn {défense housing,” aécording to J. 1951 he Preceding {Wayne Baxter, secretary, Speed- covered sale of 55 properties,
Builflers are ready and willing]
g Industry's Spokesmen ‘Declare Defense Homes: Should Be Built to Lasf
. + Say Construction During Last War Already Beginning to Fall Apart
By OPAL CROCKETT
houses. : dianapolis bilders who insist
“homes should be built to last.” : They agree with the government on this point, but the government-built houses, they point out, haven't always
” n ”
Builder Want—
HERE'S WHAT bullders | want: i | ONE: Credit controls relaxed. | TWO: FHA insurance in de- | fense areas where relaxed con= trols do not afford enough de~ fense houses.
| «THREE: Easing of regulations on housing on and near military reservations.
funds to help local governments provide shelter in defense areas,
according to G. William Jo FOUR: Limited government
| Tr m———— \ North Side Sales reached at military installations i. e S : The housing shortage is expected to be relieved “by curtail-| ecor
Week's Volume Totals $828,400 °
JwjoMnother real estate record is built if Indianapolis is declared a hanging high. re 8
- It was pinned up by Associ; orth Side Realtors, lates The okganization has reported
a sales volume of $828,400 for the week ending Feb, 3,
|
|Campbell, secretary, It overshadowed by
report. The latest
| transactions. Firms and properties included¥
Bruce Savage Co.—3319 N. MeAlabama
ridian St. 1617-19 N. 8t., 5612 KE. 21st St. £3]
Walt Vedn Co. and F. 0. Tuel Co.—5543 Carrollton Ave, ker
Walt Veon Co. and Ford Woods
Co.~~T7060 Park Ave. Walt Veon Co.—5336 Grace Willis Adams—5344 Gracela ve. i American Estates Co.—5673 1 Illinois St., 5215 N. Illinois 8t., E. 33d St, 3037-39 Park Ave, 5832 Washington Blvd., 6350 Cals lege Ave. 5656 N, Pennsylvania St., 5809 Washington Blvd., 4411 Central Ave, 3029 Broadway, 4270 N. Meridian St., 4649 N. Capitol Ave, a lot at the corner. of Watson Rd. and Guilford Ave, 3646-48 Graceland Ave., 515-17 N. Denny 8t., 3545 N. Denny St. lot 153 in Arden. 4!
American Estates Co. and Bruecs Savage Co.—Lots 39 and 40 in Meridian Hills 1st. SEA Butterworth & Co.—6115 Spring Mill Rd. 6624 Pendleton, 3640 Kenwood Ave, i Jack C. Carr, Inc.—1148 Med: ford Ave. 436 N. Tacoma Avé (represented seller), 4129 E. 61at St., 1506 Barth Ave. 1818 N. Emerson Ave., 1644 N. Leland Ave. 3504 N. Capitol Ave., 2238 Catherwood Ave, ; i Gerdenich Realty Co. — T7108 Zionsville Rd. A. H. M. Graves—5155 Winthrop Ave. 2801 W. 29th St., 1624 E. 46th St. 2 Hall-Hottel Co.—688 E. 44th St. Fred T, Hill Co, and F, €.
Harold ‘R. Victor, realtor, has Tucker Co,—3540 N, Denny St. *
Fred T. Hill Co.—5012 Carvel
Colonial Savings and Loan Asso- Ave.
Keller Realty, Ine.——2645 BR, 18th St., 684 Arch St., 1709 Lock-
C. Moldthan, realtor, and Roland wood St. 6701 Caroline Ave. 322
Dorman St. 1357-9 Bridge St.
trustee. He is past master of the the Real Estate Board. Associate/25th St. and Arlington Ave, 45
Ancient Landmarks Masonic
Lodge, a member of Scottish Rite, come president of
Council, Ine.
Lee Freels and her father-in-law, Major. R. Freels. Mr. Salo has been transferred here from Chica by the Western Electr Co. Mary A. Ridle handled the transaction for the A. K. Carnine Red a. a ei i a } : .
. 0
@ : 9, nN
*
|pect St.
Rd. And Arlington Ave. Have Ne
member Verne K. Reeder has he- Meridian Pl, 6725 Brouse St.. 839 the Indiana E. Drive, Woodruff Place.
Knight Realty Co.~~2108 Pros-
w Owners
rom Mrs, Anna
| This tops by $271,450 the pr |vious high for the new er ‘ {corded the first week of January. The figure was submitted to the 8 Real Fstate Board chairman of {the north side group, and Alfred
4
Four lots were included in the
ph)
SS pe ad
Gita