Indianapolis Times, Indianapolis, Marion County, 1 April 1951 — Page 40

"Real Estate

Section Four

EN —— -_—

The Week in Foro Housing Here Lusty As Ever

Material Cutbacks, Credit Curbs Have Little Effect

By HAROLD H. HARTLEY, Times Business Editor WHAT'S HAPPENED to housing? developed a production limp by now. But it hasn't. It's as lusty as ever. e Material cutbacks have hardly scratched the surface. And the credit noose failed to slow breathless rush of

home: buy ers. Center to Ft. Harrison, all figure Some builders, I am told, to.put starch in home demand. actually dodge buyers. They! - Albert E. Thompson, the home have got more th th {builder who puts up about 75 units ve got mor an ey can, year, expects this year to be as do. And those who put aside a|big as last. He figures about 2000 few essential materials don't want will come from St. Louis to take to shoot them in one salvo and be|jobs with the Finance Center. He out of business later. {estimates that half of them’ will Some have been washed out of be able and ready to buy homes. the market by higher down pay-| Allison's is expanding. fast. The ments. And others have simply Dodge plant will be ready about

been shaken down to’a lower the middle of the year. It will

|rake together the down payment] But in Indianapolis there stili'these days buys. There are few| are more buyers than there are homes to rent. houses. And builders expect this) Normal rentals should run! inequity to grow worse. * about four per cent. In this town| They look at the headlines. New they're down to a scant 1.4 per! plants. Factory expansion. And|cent. That puts more pressure! the moving of the Army Financeon buying. The opinions of builders!

. EM Too Few, Too Many are scattered. But there is

a familiar overtone. Material shortages haven't hurt yet. Nails and | steel beams are a little hard to get. Hardware is thinning out. | And masonry labor is scarce.

But the truth is that nothing so far has stopped home building in the popular range, $8000 to $12,000. A little higher, it's a dif-1 ferent story. ¥ ing may fall off the cliff a little 0. C. Winters, who builds de- later, ye abe, Wien luxe houses from $35,000 to $50,- Pre-regulation FHA an ap000 says he built 26 last year, Provals run out. But a lot are and this year will cut back to 12 betting against it. And the preto 15. He setsc the figure on the fab companies are moving up materials he has in warehouses. Production figures by the day. With a little demand . tug, he, ational Soules Wp in Latay might go higher. {étte, an orse rN. Xu ' e 3 |doubling its figures. And GunniSubstitutes are appearing. Plas- son Homes down at New Albany tic towel racks and soap dishes!

: has its projected figures all on for bathrooms are offered. And

| |

RE aR

lol

There is one possibility. Hous-

(Opens Tonight

It -was to have]

level. The $15,000 buyer now want 5000 men who will want looks at $10,000 to $12,000 homes, homes. And anyone who can! or less, ’

Sweepstakes

Builders Race

}

Against Time | This is “sweepstakes day” for the 26th annual Home Show here. | A race against time will start {at 10 p. m. when workmen start {the layout of the display home in the Manufacturer's building, State Fair Grounds. : | Craftsmen, under direction of Ben Olsen Jr, will be racing against time to complete the] “Midwest Town and Country! House” in 17 days for the opening! {of the exposition Apr. 20. { | First step of the course will be! {locating the house on its site in {the building. If the operation] | goes” smoothly, the foundation! imay beset in preparation for Lstar row.

Hope to Snap Record wt Crews will be shooting to trim one day off last year’s mark of construction in 18 days. This will allow decorators from L. S. Ayres & Co. about 48 hours to put on] the interior finishing touches. | While all this is going on, gar-| den clubs and landscape artists] will be busy on the outside with the “plants, the. earth filling and| the detail which will make up a true-to-life plot for the house. Mr. Olsén said the house will probably be. finished with not] more than 12 men at work at the same time on the house proper. The speed will be possible partly

The Indianapolis

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» »

Imes

‘SUNDAY, APRIL 1, 1951

City’s Sewer

yst

t on the house proper tomor-| A

ENTER BUILDING CONTEST—James E. Hancock (left), and Philip Zeigler add house building to crammed school and part-time jo. schedules. They're contestants in the Home Show Min.

because of the unchanging “weather” inside the building and work teams operating side by side in a manner impractical for conventional construction. The house is without basement, another time saving factor. It contains three bedrooms and combined dining-living room. Tiling extends from a small -terrace through the kitchen from a vestibule and into the utility room. A glass wall separates the living-dining area from a screened

Stocks Regain Cash Prizes Await Part of Losses

iature Model Home Building Contest sponsored by the Indianapolis Real Estate Board. | WwW Of Model Home Contest

High School Pupils, Adults to Submit Entries in Two Separate Divisions

“

Volume ‘Is Lightest Since Sept. 1, 1950

By ELMER C. WALZER United Press Financial Editor

dad's workroom for the Home Show Miniature Mod Contest.

_ |ditional units under consideration Ft. Benjamin Harrison per-|

inners

Houses are shaping up in high school drafting classes and in el Home Building

the upside. They have materials. for lower-priced houses plastic/ So housing isn’t dead by any door hardware is showing up, means. It's not even sick, surely knobs. And some builders are not in Indianapolis. shifting from brick and stone to| ‘I've talked with dozens of peo-

back porch, Adaptable to almost any location, the house will be transferred to a lot at 150 W. 73d St.

NEW YORK, Mar. 31—Trading in stocks during the ‘past’ week fell off to the lightest level for a

i frame “row houses.” They cut ple, builders and home hunters. |after the show closes Apr. 29, It/full week since Sept. 1, 1950. labor, allow more factory ma- Their story is the same. Too few | Will then be offered for sale. | Prices fell sharply for a time chine work. houses, too many buyers. | The home was designed by ang on Wednesday touched new

Ewing Miller, Terre Haute, and, was chosen from 29 entries in na-/ OWS since Jan. 10. They rallied

be mailed to > the “Indianapolis Real Estate |Board, 905 Inland building.

Two of the Contestants Among high school contestants are James E. Hancock, son of

Mr. and Mrs. Marvin Hancock, R.aR. 5, and Philip Zeigler, son of Mr. and Mrs. K. L. Zeigler, 962 E. Drive, Woodruff Place. James is a sophomore in Warren Central, county high school. Philip is a senior at Tech. Awards will be presented at 8 P. m. Apr. 23 in the Real Estate Board booth at the Home Show. Five cash prizes—$40, $20, $10, $6

tions will be awarded in each division. Joseph H. Argus, IREB president, will present awards. Harry Knight is chairman of the board’s Home Show commit-

| i

tee, with Catherine Mansfield vice chairman.

tional competition. subsequently and by the close on Friday had wiped out all the : losses on average. Elmore Brother S Railroad issues led the market i A (in both directions. Early selling jof the group followed February reports showing declines caused orm eW gency by the railroad strike and lack of increased income from freight o . rate increases sought. . Firm Establishes The general market followed East Side Offices [the course of the rails. There was Indianapolis has a new reallSelective buying here and there. estate and insurance firm. ‘Some groups developed strength It is The Elmore Agency, with at times. On Monday when the offices at 3722 E. Michigan St. market made a small gain, the : Directed by A. Clark Elmore aircrafts stood out on the upside. % and Clifford A. Elmore, a major Later this group moved erratick (portion of the firm’s work willlally despite sharply higher backB® be in East Side real estate. It is|logs. : = affiliated with the National Ben] A "TRIP-TEASE"—Selling railroad tickets. Hard to believe but [jamin Franklin Insurance ‘Co. | such play-and-forget-it pictures roll out by the dozen from the |and the Commercial Casualty In-| oO Chicago and Northwestern Railroad. The line seldom shows a train rg members of the Loy in sales promotion, but it puts plenty of come hither in what you > Sroup: Elmore. is a. member may see along the way, at mountains and desert resorts. They've (of the Indianapolis Real Estate ; figured out that's what you're buying—not just the ride. |Board, and for the last 20 years | Zip has been active in various real Reid e of Words This year business Will pour $70 |estate fields. He has also de-| g , million into house organs. But don’t signed and built many homes and | call them that. Some editor is almost sure to stab you with his/js ga qualified residential archi-!| scissors or jam his paste brush down your throat. tect and member of the Marion The right-name, if you want to duck the scissors, is “house lication” or “house magazine,” although some aye frankly papers.” :

Pub- County Building Commission news- staff, i He is a veteran of Army serv- § ice from 1943 through 1946. Sons of Ivy, L. Elmore ’ Clifford A. Elmore was a West [Coast salesman for several years

When business spends this kind of money, management wants to know what it is getting back. It's, hard to put your finger on the

dollar return. But they know |after leaving Indianapolis, and from experience that they do {from 1946 until 1950 was with pay off. ithe Department of Interior's These publications weld produc- {Alaska Native Service. He lived ing families, factories, stores, lin Sitka and Mt. Edgecumbe,

|Alaska, during his service. Durthe war he was with the Mer|chant Marine. He is a member {of the Indianapolis Lions Club. | The Elmore name isn’t a new fone. in local real estate fields. The late Ivy L. Elmore, father of the firm directors, was for {many years affiliated with Railiroadmen’s Federal - Savings &

sales organizations. They let big, groups know one another inti-| mately, And they build morale. | They once were preachy. But no more. Instead they talk] straight about what a company fe, and what its problems are, what it’s trying to do. |

There are about 40 of the pub-|

ne On the House

{

U. 8. _ Photo big phone bills rch calls an aunt

a Gl ring .u

| in Honolulu. Corp. Everett Smith talks to his parents in Denver. Complimentary calls mark opening of Indiana Bell Telephone Com-

arrison, arranged by the Post's |

and $4—and 10 honorable men

E DeQuincy St.,

On Sales Course

Sposfsored by the Indianapolis Real Estate Board, one contest is open to high school students for the fifth year. contest, started last year, is for adults. Entries are still acceptable, to Harry C. Knight at

The other

North Siders Top Half-Million Mark

Sales Total 37; 7 Undeveloped Lots

The sales ball was slammed over the outfield fence last week in North Side real estate.

In a week that challenged sales figures set earlier in the year, Associated North Side Realtors chalked up 37 transactions for dollar volume of $543,100.

This 8 a man-sized jump from the 28 sales of the previous week which totalled $372.51 | There e seven undeveloped {lots included. Realtors and sold were:

Walt Veon Co.

e properties they

tion of Jack Carr I Rosslyn Ave.

.Ford Woods & Co. St. The Spann Co. Inc.—433 W. 31st St. F. C. Tucker Co. with cooperation of Walt Veon Co. — 6145 Evanston. > F. C. Tucker Co.—Acton Road property. Fay Cash, lot at .87th St. and Ralston Ave., Kessler Blvd. and

. {N. Illinois St.

Gerdenich Co.—635 N. West. St. A. H. M. Graves Inc.—3605 N. 3611 N. DeQuincy St. . A. H. M. Graves Inc.—with co-

opération of American Estates Co.—5548 Broadway. °

Gregory & Appel Inc.—11068 W,

31st St.

Hall-Hottel Co.—5170 Atherton,

North Dr. Haynes

Realty Service.— 6241

Kingsley Dr.

(Continued on Page 43 —Col. 2 |

IU Man to Spea

& Builders third.’ and

Indiana Lumber Supply Association's

in Central Library. og Prof. Earl Tregilgus, IU Educa-| tion instructor, will speak. Prof. Tregilgus will conduct similar courses this week in Terre Haute, Evansville and North Vernon and next week in Ft. Wayne, Logansport, South Bend and Muncie

Busin

Real Estate pL ae

Automobiles | : : "

4244 ess ........... 43-44

ody

RAIL

The growing.pains of In

which ask for it. Builders will receive con

facilities. This was the word from

city officials last week.

It was stated, however, that a year to a year and a half would elapse before effects of the program would be, felt. It would take that long=to make enough progress if the job were started tomorrow. . { Within the last year as many] as 1500 living units have failed to get off the drafting boards because the sewer system could not handle them. There is still some question whether 1100 ad-

for sonnel will require Indianapolis |sewer service,

Twenty-Year Plan

Theoretically, the city would be able to serve an additional 37,500 homes during the next 20 years. That is the estimated extent of the long range development program for the sanitation treatment plant. This unofficial figure assumes

lons per day from a single housing unit sheltering a family of four. The treatment plant now receives an average dry weather volume of ahout 85 million gallons a day. This would be increased to about 100 million gallons a day by 1970. But this is only on paper. The housing figure would be cut by addition of new industries in the area. Sewer and plant capacity can also be reduced by “infiltration” of sediment and water in the lines. Capacity is further affected by the “strength” of the sewage, and whether it is flowing during a dry or storm season. The local plant estimate Is based on the dry weather flow. Also entering the picture plans to increase the degree o treatment for the present volume at the plant. First relief will probably be felt by buildérs in the northeastern section of the city. Consulting engineers have recommended that first action be taken there. Although recent development has been most rapid in that direction, the builders say the ground

(Continued on Page 43—Col. 4 J

Engineering Unit To Meet Here

Anderson Mr. Fisher

Mr. “Advancement in Lighting for Production” will be discussed at

an average disposal of 400 gal-|

since 1943;

Kuhn,

Could Serve 37,500 New Homes

Program Will Relieve Building Bottlenecks In Year to 18 Months

Northeast Section Probably Will Be First __ To Feel Benefits of Huge, 20-Year Program

By DAVID WATSON

dianapolis will be eased with

the expansion of the city sewer system. Annexation to the city will be e~sier for develo

ped areas

nection outlets vitally needed

in areas where projects were blocked by lack of disposal

Realtors to Hear Lawyer Thurstlay :

Richard Mills ~ Chosen Speaker

Richard Mills will speak and national awards will bb presented

at Indianapolis Real Estate Board luncheon Thursday noon in Hotel Washington. wid Mr, Mills, attorney and humor ist, will talk on “Money.” Joseph H. Argus, local president, will present Omega Tau Rho (old-time realtors) awards from the National Association of Real Estate Boards. 3 Presented for the first time at the 1950 nationdl convention in Miami, medals go to realtors who served the national organization before 19486.

Local winners last year were: Fred C. Tucker, former member of the national board of direc* tors, and Mary Binford, past vice president of the National Secretaries’ Council, :

Awards will go to: John W. Roberts, vice president, Secretaries’ Council, 1914; Henley T. Hottel, director, Secretaries’ Council, 1924; Frank E, Gates, vice

president, National Association,

1927. Others to Be Honored

William A. Brennan, National

Executive Committee of Brokers’

Division, 1934-36; Guy H. Willaims, Goveraing Council and vice president of Institute of Farm. Land Broker: and Mana-

gers, 1937-39; Earl B. Teckemeyer,

director and vice president of National Board, member of Board of Governors, Brokers’ Institute,

Board of Governors of States’ Council 1941-48,

Paul McCord, national director T. Lorin Driscoll, Board of Governors and vice president of National Brokers’ Institute, 1945-1950; George A.

meeting of the Indiana Chapter Illuminating Engineering Society, |

Apr. 9 in Hotel Warren. Meeting will open at 1:30 p. m.

with a program to follow.

Governing Council, vice

president of Society of Industrial

Realtors, 1947-1950. George T. Whelden, Governing

| Dinner will be served at 6:30 p. m. Council and vice president of Appraisal Institute, 1948-1950; Wen-

Afternoon speakers will be L. R. dell Hicks ,of North Manchester,

Anderson and Will 8.

final spring sales training course| Cleveland - and R. E. Crockett, : {will be held at 7 p. m. tomorrow Indiana -GE sales district engi-| Craig, past national commander Mr. Anderson and of the American Legion, Apr. 12. p| The program will ba sponsored hy

neering here, Mr. Fisher are with GE Lam

Fisher of national director, 1949.

Realtors will hear George N.

Department and members of the women members in Hotel Wash-

GE Traveling Lighting Clinic.

|ington. Catherine Winchester is

Prof. 0. D. Lasco, Purdue Uni-|¢hairman.

versity Engineering Department,

IREB members will take their

will speak at night on “Light and [wives to lunch at the Home Show

Color in Industry.”

Apr. 26.

lications in Indianapolis. They {Loan Associafion. After retiring are done carefully, Bo Suesswork, from that organization he was no filling them up with thread- {in the real estate brokerage busibare jokes. i ;ness until his death in May, 1950. . On Apr. 12-13 about 100 Indi- : | Clifford resides at 345 Lesley i ana industrial editors will get to- 1... (Ave, and Clark, at 723 N. Shergether out at Butler University Fred Jolly . . . Caterpillar's | man’ Drive. for a seminar. They'll listen to| editor. i —— the leaders in the trade, Events, and the R. L. Polk Co. [0 Speak in Dayton 'FOR FREE'—A WAC and These include Fred Jolly of the Detroit; Charles Ruch of Westing-| Fred C. Tucker Sr. and C. B.| without a dent in their monthly pay. Pvt. Maile Caterpillar Tractor Co. R. S./house; Fred Willkie, president of | Durham, realtors, will speak to-| Pay. J. Callvert of Western Electric Co.,| Sens morrow night in Dayton, O., beJack Fritzlen, editor of Chrysler! (Continued on Page 42 —Col."' 5 fore the Soclety of Residential : Hear Harold Hartley with the “Human Side of Business” on Appraisers. Their subject will bei pany s-new phone station-at Ft, WISH at 8 p. m. * “Land Types and Values.” | Special Services. Th Resid Northeast And 3 5 : 4 AR Ho y:R - Ga ; tog ; HE . . > x ¥Y x g wm

420 Jordan

8817 E. 10th St. -

Mn (Charles Shine are the new owners of this sub- THe home purchased by Holes and Robert Sctio or, boasts omc | in | the ? souls 0 pti a large jinterior, ‘activities sroom; plus i socia .- RB Soni > eit es Soir Ve. |: hs Ee

Salé of this N

6741 Evanston Ave, orth Side, two-bedroom bungalow was directed

by Mai " ted by John P,'Main pnd Mabelle Gree re Rn ne Cl! It ‘was W942, - ;

Home In Southern Marion County Have

{

1706-08 E.

Paul Streets of the Chapman-Sireets firm

New Owners

42d St. was the salesman

Jor lia shrek vcionusidg done na cornerje 1 Rirehases)