Indianapolis Times, Indianapolis, Marion County, 4 March 1951 — Page 53

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Real Estate

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Section Four

_The Indianapolis Times « fiz =.)

The Week in Business—

Defense Pinch Due to Tighten

D-Month Is Upon Us; War Production to Rise -

By HAROLD H. HARTLEY Timés Business Editor

"MARCH IS D-MONTH. And the “D” stands for “defense.” The day to dig in has arrived. It mean tight: ening, tugging, everywhere, ; Business has been led, peaceful and prosperous, up to the starting line. By give-and-take, the government has avoided widespread dislocation, painful layoffs, up to now. From here on in, the screams (had a small handful of war

will be louder. * . |bonds. I had to cash them in.” Labor already is unhappy. | But the stores, feeling the

{healthy pull’ of the early Easter The 10 per cent increase allowed | over January, 1950, was (Mar, 25), are not cheating, at

not | enough. And when th {least the big, responsible ones | Price. Stabilization let" prices -of “FN They wouldn't take the, _ cars go up 34 per cent, labor Bo - hop gke aH. No ; "ments to police Town prices. - WhateRAL Ato Oe Ana other “TANS “re SETTERS | big Tibor boss fn Indiana told me, study” thé 30-page *Tegifiation » “It's hard to tell. Store prices freezing profit margins. - They're. Keep creeping up. We don’t know Working feverishly to get the in‘Which way to go. Families have by. Mar. 29. to cut down. They're beginning to| The ~same goes by-pass fresh meats.”

a family of six, hoth boys are in|vegetables are not price-frozen.|

2 ‘ ¢ thé service, and four girls are at And they have, in some shopping | «Fi 3 . “ " fy home with my wife and me. Ilareas, moved up. naps aS ecor Forty Five Jrcnsaetions py Reported; treagury WOUIQ JOFR 3 HIaX Hap in value over the original purge rty i : . or the home own |chase price, this increase will be H Bia? General Motors opened its order books and = | rope nvolved Worth $561,800 : Cash Prizes Listed; |.) [tos Do a gain, yet at the ) te 18 ow 19 ¢ showed conclusively toward week-end that the Bri ht Note Rings Sales of Associated North Side Realtors for the week ehding| : Indianapolis brokers said a tpo| 18. hb. ig e Rings Deadline Mar. 17 \same time I apn required to pay défense push is more than talk. 2 Feb. 24 more than doubled previous week's figures in both number |stringent tax could impair the comparable price for my new GM has $3 billion in war orders, about one fourth of. its entire | In New Construction and value. [transfer of defense workers to... : output for all of World War II. And, sald GM, most of these will be, A bright note is ringing in resi-| Sales totaled 45 and volume reached $561,800. _ [this area. Too rigid controls under way in 1951. With that much business sitting around in just dential construction. Organized For the week ending Feb. 17, 19 sales totaled $208,740. \could limit housing turn-over. Incurs Tax Liability © WC Gne Gorporation, thers WON Beis—trritrm istry mmr builders stick iE : Current sales fell just 10 short of a 1950 February record | Trip Tn Los odetT. had 2 home..and. now all | furniture, aluminum awnings and as : \ breaking sales, week. | — mim ree ap 1s levy Ap ore Whit Costin much waiting. y Feo National Association of Home The trip’. they prttested Is have is another one, which cos's Help is still short, clerical and Window facings. -- Builders of the United States . LIne report was submitted to the “The trap: = 7, all the proceeds from the sale of | But these fringe manufacturers : Indianapolis Real Estate Board | the levy which says owe the skilled metal trades. But the] said January housing starts are p ! 1 ; J my first home. Neither is worth shortage is nothing to what it will are not alone in their trouble. expected to reach about 87,000 by Willis Adams, chairman, and| Uncle Sam it He house YoU o" more than the other Ex «+ Even the high-priority plants : : Alfred Campbell. | .- has increased in value during a = ' : be in the SIX to eight months jus} making jet engines and tanks URLs When the completed score is Realtors Pare properties sold | a2 Dadh ioi s\nrescribed period since you bought, “But in changing my home, I ahead. Semel 5 ive oe derestn to get raw ma tallied. i Hollow: ter ec | g a it. - 7 |have incurred a substantial. tax Industry, as always in a push, terials, too, and they have the, This will represent the highest | 5 os Lira EW niige-! Ls Hoth local. realtors andthe na- | Hability.” s ia 3 is drawing labor from the lower- inside track, . : [January gn yecord. 11 Per tent rier Pr. ee buyer. 3706] tional_#ssociation scored the “tax| This 1s the capital gain thx proJ wage areas of the smaller com-| The biggest headaché of the More J an he. 00 units start- N. Emerson Ave: 5325 Tacoma, Volume Continues as a “gross inequity in the law.” posed for 121% per cent increase. with munities. If newcomers have the NPA office is construction, No|® Ne anuary of 1950. Ave. with Haynes Really Service| . To avoid the “trap” of increases, The person who plans to sell ho cash, they can find places to live. bowling alleys, dance halls, but | o forecasts were made for He resenting the buyer To Be Light 'but holds off for a rise in prices ing Builders still build and sell houses. you can put up a building if the TéMainder of the year, but 1950 represen oe 3 By United Press : rs ve CA __Awi)! atumbie on this obstacle, At... 3yos And the down payment regula-'NPA can be shown it is in the M2tonal totals were listed at| Walt Veon Realty aol NEW. YORK, Mar, 3 — Stocks #8 Nurse men gar /the same time he would have to 1219 tion was made to sound worse public and. - defense-- interest. 1.385.100 a8 compared t0.1,025,10¢ 8. Belmond Ave. 345T" Hillnae| = ’ ; : pay more for the next house he 40-18. : 4 2 i > | for 1949. | Ave. |steadied this past week after two : than it really is. {There's many an argument in| : a lweeks of d bought. Willlam Rightor, head of the those words. doe aSsoeist ns al the Save Robert E. Walker—2609 North-| Foe £2 9 < Saline, bul volume Sons On this basis the local brokers National But March is the month for the €por:e 3 check o éigate, Blvies year. al eavy 0sSses \analyze the immediate market as

Production Authority | ’ office in Indianapolis, says the big step-up in tightest squeeze is on copper.

the things we can do without, |plush-lined peace may resemble. Iike artificial flowers, barber| Vesuvius going shop and beauty shop and office before blowing its top. [3 |

Here it is—the Tele-Bar, Admiral's social lift to the see-and- |-

SPACE

the kitchen, missing part of the program."

No Man With a Hoe

garden. Seed catalogs lost their below-zero ice and snow.

blight on man’s urge to lure 4n the

EOPLE UR (ENCE

of men com2 in on Saturdays, as early as February, handle the garden tools and picture them —m™/™X@X@™™—mmmmm™™ rn | gelves in the healthful setting of for sun and succotash-on-the-hoof. Frankly, which sell much of the seed for and makes good money, why family gardens are a little disap- should he work in the evenings

pointed. But they don't blame the to raise stuff he can afford to py the character and capacity of pe

people. They say “winters have buy? changed.” At least, the "last one. The deep freezers which have

t chance, 1 - : ei ae LK ‘ +m The..2fores, | ost up_ depart: PURCHASE PRICE © ims TC

|formation, and the charts, ready Real Estat es

for grocers. | 1.1: {They aren't playing games with anuar Ul in This labor boss said, “I have their reputations. Fresh fruit and

war production.|1950 census disclosed that the And from here on in the squeeze Umber of home owners exceeded

And the loudest howl comes|will be a little tighter, and the renters for the first time in any from manufacturers who make shake-up in the ways of our Census period.

men comes an urge for economy In ham Dr., 221-223 Forest St. 116th "Waited for prices to come down. use of construction materials to/gt. and Road 29. allow erection of more units, |

and wider use of less expensive

tional Retail Lumber Dealers As-|

Fulton said good homes then be acquired at lower costs, | and the extra conveniences could! Thomas F. Oarson Co.—130 W. rowly irregular with the indus- high schools, invites high school Severe cold. {be added later.

Buying and Selling

[the person who plays the stock worth & Co.—650 E. 116th St. {market for a gamble, want to sell

. (They also want to hit the market when prices are high. On the surface this should mean a better 43d St, 2418 W. Ray St. income.

{out this is not always true. [that prices would change general-

|ly, if such a trend took place at all.

the “gpeculator” might realize, be- represented buyer, 1017 Teoumseh cause of sharply higher taxes. The D. Plerre.

1 cause he would have to pay more St. for the next home he bought.

hear circle. Designers explained "It keeps the host from running to [time to sell, while conditions are

The tough winter put a Building Assured

The people who sell the seeds know. They used to have lots Board meeting.

22 million family food gar- hopes on “our serious, dens is reported lagging. When yj diness men" the hardware stores the wage earner works all day, ,¢ financing regulations,

0. their obligations,” Dr. Weimer reajty company.

Realtors Advise Listing Homes Now To Avoid Possible U.S. ‘Tax Trap’

EMRE (aA

To i 4 Te Sl NA we Se a 5 £5 HRA

~ Capital Gains Levy “Would Cut Profit Natighal Association Opposes 122% Hike;

Offers Corrective Recommendations | The tight homz market may be loosened by proposals

iy : i [to increase capital gains taxes. | .

" ~~ | Owners who have homes for sale may actually net JD cams a. I BURCHASE — PRICE oA AIS

‘more cash profit today than six months from now, real iTS a ib nr neve - yo a y Msi SS And the man who will be : ac FAX FRAT Tach of two Wail Nein Gol ey Hiker pes cca B OM

3 ¢

= CAPITAL )

co ag

y effect, "this will eut"into the it the proposal is adopted, many actual profi dollars. prop Pac

estate experts pointed out last week. If the proposed increase of 1215 per cent goes intov To - a. gags §W¥- re nouse oF We “Briet, they, might feel the BFURY of capital ‘Gaing axes athough ™ sini" Tn the riddle in thE hbme oop SEE RT “= Both“ paid the same price. National Association of Real Estate Boards termed the possibility a "tax trap,” because neither owner [owner who plans to sell but waits Calvin K. “Snyder, se€retury of

would gain, [too long before listing, real estate the realtor's Washington commitmen said. tee, explained the inequity .this The National Association of way. .

Real Estate Beards has carried a| “If IT am forced to move from

Home Show Plan protest to Washington in an effort one city to another because of a

North Side Sales Spurt

Mr. Stewart . , . chairman

vou. Wall Street experts explained] Joseph R. Berger—5838 N. Key- 1, tthe recent market uncer-|

stone Ave. 5519 N. Delaware St., tainty is traceable directly to in-| .'° indianapolis Home Stow . |5817 Crestview Dr., 5872-74 Ross- come tax time. Many persons, Will sponsor its second annual Home ownership had increased lyn Ave, 6402 N. Park Ave., 4525 they said, had to sell stock to get high school poster contest at the

{the one in which to sell, . | “The effect of such an increas

(Continued on Page 55—Col. 7)

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® p Roses, Other Plants Damaged by Cold |

together the money for the in-/1951 exposition in the Manufac-| . ince 1940. | Butterworth & Co., and Fieber stallment due on taxes on Mar. y. ore Building Apr. 20.29. or STUY aecepiel DrOpliecies From the.lumbermen, the key & Reilly—6245 N. Sherman Dr. BB Thiase oa od pot have Is H. Williamson Stewart has heen blended with the fun, food and | in any buildin rogram y IS. wt3e ot out o e market and : : : L ! : 3 8 Program; Butterworth & Co.— 2322 Dur named chairman for the second festivity at the annual banquet of

Slow Price Erosion | year by Richard C. Lennox, Home Ie Indianapolls Lanascaps As —48'N. O { The over-all result was a steady Show president e oe t | Elimination of housing “extras” |, J2¢k C. Carr, Inc. + OX lightening in volume and a slow Pre-banquet conversation em-

(ford St, 20 N. Drexel Ave, 1140 orogion of prices. That selling] Deadline for entries is noon phasized that the sudden deep | quipment was suggested by Na. WW. 32d SA an St., 5220 went ahead in the early part of Mar. 17. Posters are to be taken freeze of November caught uge Primrose Ave, rittenden this week, particularly on Tues- to the Indianapolis School Board shrubs, roses and other plants) Ave, 401-03 N. Wallace Ave, 6031 4,y when the industrial average with late growth still soft from| Sexton St., 1232-34 Broadway, 801 e)l.py 1.84 points and the rail. OMc®¢150 N. Meridian St. auturhn's milder days and un-| N. Tuxedo St., 3702 N. Emerson ,,.4 average was off 1.35 points. T. Van Vocrhees, director of prepared by customary gradual

|Ave., 1226 Sterling Ave. On Monday the list was nar- art education in the city's public falls of temperature to meet the|

into a quiver by 54 per cent, or 8,187,000 units Ralston Ave, 1220 E. 54th St, .

New Location Is

61st And College

ociation. Association President Clyde A. could

| a . “Climting roses seem to be} principals to send entries from ,..... right to the ground sven |

their departments. though we protected them with| The first-place poster will be re- oi ow» eaid one nurseryman, |

Produced 2s She emicial window «And it's still too early to tell! $10 Firat Prize whats happened to our hybrid| The winner will receive $40.0 wwe grove past Other cash awards will be $20, r014c 25 we were coming here $15, $10 and $5. Each entrant will tonight,” said another, “and iti H be given a complimentary ticket |ooia iike a 50 per cent loss| ATTY Knight Mead Knight to the exposition. though we still can’t get out into] The F., M. Knight Realty Co, The Judges and Awards®Com- the rows to see just how much has moved to 1st St. at College

mittee of the Home Show Will 4amace is done.” select winners. Members are. H. ge Ave., without interruption in the firm's 32 years of service.

J. Schnitzius, chairman, Mrs. Robert C. Blessing, Albert I. Paul Uiman, state entomologist] Knight Co. formerly operated Maillard, F. L. Palmer and E. and one of the dinner guests, in Room 700, Fletcher Trust looks for considerable loss of Building, Contest rules specify over-all bloom on early flowering shrubs. | The move was poster size of 14 inches wide hy But with all the gloomy ex-| made to further 22 inches high with no more than Pectations local nurserymen con-| specialization in two colors used. They are to be sider themselves lucky in com-| North Side resi-

[Hampton Drive. trials up a trifle and the rails Fay Cash—Lot 25 in Crow's slightly easjer. The trend turned

| Nest addition. up on Wednesday with the indus-

| 7 , It iia] trials featuring. Next day the MAN ME OWNERS, like] - d MANY HOM R 1 Driscoll Realty Co. and Butter rails made the best showing. On

Friday all major groups made Fieber & Reilly—3156 College modest gains. The net result for Ave. 2441-43 FE. 16th St. the week was practically a A. H. M. Graves, Inc.—628 W. stand-off. Brilliant earnings reports con_g0 N. tinued to enliven {ndividual 4 Stocks. American Telephone en- ¢ Joyed a good week when its company reported record high income for 1950.

t an ove to better houses.| ut and move one of our

Hall-Hottel Co., Inec.But real estate brokers point pwing St. represented seller, an ; property on 15 acres south o Weak point in such a plan is 16th St. and Allisonville Rd.

Haynes Realty Service—4716 Record Chrysler Sales Kingsley Dr., represented seller,| cnrygler reported record sales

That would wipe out any gain 2919 E. 46th St. 2915 E. 46th St. hut somewhat lower earnings be-

Loss of Bloom

markegs apparently did not disFred T. Hill Co.—717 E. 55th like this report for the stock

Which means now is the best St., 5827 Norwaldo Ave. firmed and it netted a good gain

— D. - on the week. General Motors re Hime Knight Realty Co,—1834 E. Le TET bir Eat PHA Tesory marked: “26th Annual Indianap- parison with other parts of the dential property stable. Grande Ave. olis Home Show, Apr. 20 through country. end to acquire

will be made public hext week, Texas rose growers caught with |

29, Manufacturers’ Building, State parking space

or 1051 Edwin F. Martin

SH : Fairgrounds.” a 90 per cent loss of their entire for customers Urge to| BRISK BUILDING W. H. Barney Sells fie cision stock have been” classed as a officials said. ong stretch of was predicted by Dr. A. M. Wei- | “disaster area,” eligible for the F. M. Knight mer at Indianapolis Real Estate Opens Agency For Hall-Hottel Co. Board to Hear substantia’ government loans founder, en

, realtor, has’ W. H. Barney is back home in . {necessary to keep them in busiDr. Weimer, dean of the IU oT a Realty Co. business. Sales Experiences [ness under thes: once-in-a-life-| on" \ "\oiint chool of Business, based his high yo temporarily operates from He has returned from Hunt-| Sales experiences will be told by time conditions. | Fo NM. RNIERY night operate capable j300 Allisonville Rd. ington; W. Va,, to join Hall-Hottel Indianapolis Real Estate Board hough rosebushes and nur- the company. All three brokers, and on relaxation jy Martin Co., Inc., as real members at Thursday's luncheon Séry stock are likely, as a result, they belong to Associated North

sons, Harry C, and Mead F.

“One of our great hopes is our own business in Mr. . -Barney, |will be modera- one landscaper sees a productive potential. It is backed pis home. later who is 43, for- § [tor. cheerful side for customers. Three Others on Staff joined a1 EL |merly served W. | Speakers will This may mean that locall On the staff are Ben Boleman, our businessmen. .They will rise North Side s | K. Kellogg Co. | he B. W. Duck buyers will get better quality Cortland Shea and Mrs. Julia A.

as Indiana sub® Jr. Paul L. Mec- [rose busnés this year, for Texas Kelly, secretary and salesman.

did. ~~ |gone into many a basement and } ; } 3 ~ 3 fields have been responsible for Mr. Bole s i -. Seeds _for eating gardens began kitchen have hurt. And the can-*2 speaker pointed out that | After gradhais 31 sexier Tan [Gord opert = many of the bargain roses, weak ber of i Acar nem to move slowly in the warm sun ning industry is still running at people buy real estate for invest- ing High School | In Huntington ! |'Wayne M. Whif- and inferior bushes, sent in here tate-Board. Mr. Shea has applied of last week. But seed men al- top speed. . ment and security. With easing gpd taking IU .& he spent 10 years § fing. jevery spring.” for his state real estate license. ready knew the score. Czas], out SaY ie at men, hope- of initial Scare over price controls c o.ur s e he : tis 2 wholesale George Saas edie ENA, {=F M.. Knight, vice president of seeds, for instance, hadn't been fully, “maybe they've just put ,,. 4 with incomes high, they'll do worked at C. L. ) furniture . fac- 1 of G. A. Saas & Foundrymen's Society the Indianapolis Real Estate moving: And that was their sig- 3 of. And there's still Plenty more saving and consequently Electric Co. in Mr Marti tory representa- Co. advertising will M |Board in 1922, served .on the «ey blame * prosperity. Cit o Ping “ivi not Re more investing in real estate, he the engineering yr. arin tive. He's a na- Mr. Barney firm, will speak | eet Tomorrow , fpoard's first home show commit. people don’t like to raise Nor May anyway in this climate.” said. department. Thirteen years with tive of Marion where his parents, Mar, 15. His sub- Mr. Saas Gordon Johnson of Chicago will tee and on Jiany her Somaity etables. During the war; they did| “And,” they add, “the war Two-Time Job |Herff-Jones Jewelry Co. followed. Mr. and Mrs, Carl F. Barney, still ject will be “The - . talk on “Sand” at dinner meeting apolis Co Re cadian; put out gardens, but they stopped doesn't look black enough yet, to | Mr. Martin, who is 40 years old live. Blind Man and the Elephant. of Central Indiana Chapter of Residential Appraisers : before the last shot was fired. make people worry about food, H. T. HOTTEL of Hall-Hottel and a native of Indianapolis, and He belongs" to the Masons,| Board members will be guests the American Foundrymen's So- Mr Knight formerly was chairtee Lame backs and sunburn are not especially when there's plenty on Co. Inc, has been dividing his his wife and son, Robert, iive at Scottish Rite and Shrine. of the L. M. Brown Abstract Co. ciety, Inc. tomorrow at 8:30 p. m. man of the Associated North Side for the man who works inside. |grodery shelves and they have the time between office and St. Vin-/2511 Kessler Blvd, E., Dr. Mr. Mr. and Mrs. Barney have two Mar. 22 in the Indianapolis Ath- in’ the Athenaeum. Realtors of which Mead Kni ht Even the government's appeal cash to buy it.” |cent's Hospital, Mrs. Hottel is con- [Martin belongs to Fairview Pres- daughters, a son, Tom, stationed letic Club. Roy.Wenzlick of .8t., He's with Armour Reséarchlis now vice chairman 2 A-woman rallfoader has vetired: and that's WiiEGaL d ne | byterian Church, Centre Blue at Ft. Lewis, Wash, and one Louis, nationally known real Foundation, Illinois Institute of | Harry Knight is chairman of Straws We oy ier or oicodbiaii 8 a Nusa lilcontnued on Page 55 —Col. 4) | Lodge and Scottish Rite. 2 grandson. i ___ 'estate analy st, will speak. a Technology. . nh the IREB Home Show committea. - ———

In 1921 she became an engineer of service, and 1946 she got| the research title, - She went to Goucher College, made her way, the hard way—on| won a Phi Beta Kappa key, and|a railroad. th went on to Columbia on a fellow-|

studied at Harvard and the Uni-|/soNews reports that they were up versity of Wisconsin. | Later at Cornell she got a de- pay off, too, in cash. greéd in Civil Engineering, the, pup NEW YORK CENTRAL | second woman who ever got such p.¢ a new 16mm. black and| a sheepskin from Cornell. Her | ypite sound film on safety. It| hobby is. cryptography—decipher-|..,ns 18 minutes but should add Ing. She is a past president of the years to accident-free employ-| National Puzzlers League and & ment of the NYC maintenance member of the American Crypto- crews. gram Association. She was the editor of two volmes, “Railroad 'Rithmetic” and] #mids a patent for a railroad car| window ventilator. She. designed the B. & O.s “Blue China” din-| nerware. | the flavgrs, tease your taste | She deserves a salute from the | buds, and make you ask for | business world, this woman who. more. :

¥ . Hear Harold Hartley with “The Human Side of Buiness”

ONE OF THE MOST fascinating gatherings coming up will be the charter meeting of | the Indiana Chapter of Food Technologists. # They're the féllows who make

on WISH at 8 p. m. today. -

. A a 9

bie Ove "W. Dennis, and she was an eninecr. A wearer n: W@ i Loc ated Hom es Ac qu | re New Own ers in P re-S

SUGGESTIONS are riding the } ship and got her M.A. Thén she/gky curve at Allison's. The nb

1270 per cent in January. These po

Sellers were Mr. and Mrs. William Kreitzer. The house has two bedrooms. Jack C. Carr, Inc, handled the traRsaction, rgpresented by Walter Stone, salesman. - ET

AN 4 » @

pring Sales

4 3 ls

seas 424 N. Exeter Ave. This is the new home of Mr. and Mrs. Donald Graham, Mr. Graham is with Kingan & Co. Sellers were Cosmo Sivolella, state is new! police radio operator, and Mrs, Sivolella. W. R. Hunt Co., Inc., represented by E. H. Mclain, realtor, sold the house.

5817 Crestview Dr. -. Jossph Berger, realtor, has sold thig-shree-bedroom home. It

5240 Primrose Ave. Mr. and Mrs. William A. Michael have purchased this home.

built by Harry Carpenter. Buyers were Mr. and Mrs. att. Mr. Platt is in the automobile i The buff brick, a; “type house has a two-car garage. Tn

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