Indianapolis Times, Indianapolis, Marion County, 8 April 1951 — Page 44

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Real Estate .

Section Four

The Indianapolis Times

’

SUNDAY, APRIL 8, 1951

Real Estate ........ 45-47 ¥ Business Small House Plan’ ...... 47 Automobiles .......... 60

The Week

War

‘ Where

in Business

Muscles

Tensed Again

Do You House Labor,

If You Can Get It?

Stocks Gain For First Time In 9 Weeks

By HAROLD

, Times Busi FRESH FEAR war volcano.

H. HARTLEY

VAPORS steamed up from the cooling Business muscles tightened. Some of the!

Rise Attributed to

Technical Reasons

By JOSEPH W. MICHALSKI United Press Financial Writer

NEW YORK, Apr. T—Prices on

grumbling on controls softened. And the grab for labor the New York Stock Exchange

took hold in earnest.

Housing worried personnel managers. find workers, where would they put them when they were

not working ? That had never been their headache. . It is now. Materials were getting tighter

jals was only one-third filled. Steel promised a 40 per cent cutback by midyear.

Manufacturers black markets. There was to them something un-American about a price gouger trying to soak them for the hard-to-get. It was metals mostly, copper, steel and aluminum.

were

Rubber was being squeezed. But!/steady drumbeat of bond cam-

the public was still buying tires, all it could get. Washing ma-

with their billions in expansion,

still falling a million barrels a was still hiding in the Mongolian taxes. ‘bushes. ;

day short of need.

If they could

this week scored their first advance in nine weeks. Gains, however, were not sharp, but they still ranged well over a point in some stocks.

| Refiners were playing the hope They were betting conThe govpiling the nonby the day. The government's $10 knock sweetener, tetra-ethyl lead. billion stockpile of scarce mater- They are allowed the same as/of its lethargy because of recent! last year, but they were using 30 falling prices. That| fighting should leave them plenty of Ping|y,arket was highly uncertain. A last three months this considerable number of investors

‘game. trols would slacken. lernment was

per cent each quarter. by the

year.

The government has a time-

The recovery in prices this week was the largest for a single week since the readjustment phase be-

ket experts attributed the rise to technical reasons. Most said that the market was bound to snap out

However, despite the general improvement, the undertone in the

continue to hold to the sidelines pending some developments in the

table. It hasn't changed. It foreign situation — still means shortages, ¢shigher Korea. taxes, labor scarcity, and the Rail Outlook Better

|paigns.

They also centered most of their attentions on Washington. A |

The week wound up tighter considerable amount of confusion chines came next. And there was than it started. The man on the presently exists in Wall Street as talk of American refineries, even street discovered the Red Bear to what the next move will be by|

hadn’t quit and gone home,

THE EYES HAVE IT—And maybe they don't, if the lighting’s

poor. Will S. Fisher of Cleveland

will show the Indiana Chapter of

the Illuminating Engineering Society new tricks with lighting in the Warren Hotel tomorrow. He's a GE lighting engineer.

Race of the Seasons

perhaps a smaller marginal profi

Stores had their markups frozen. It didn’t mean much, except t at the year's end. They didn’t

complain. They had another worry.

They came through a difficult early Easter with plenty on their, shelves. It's a good position to be in, with scarcity talk. But the

public is acting as if it is fed up on scare buying. Early last week, shoppers slowed to a shuffle. They no longer grabbed. They played hard-to-get

again. The slowdown hit both hard and

soft goods. Said one merchant, “By golly, they're even reluctant to buy what is a bargain, even a good item at a good price.” And the stores looked down the open light in their aisles and wondered, what's happening in the mysterious mind of the buyer. Charge accounts were down, along with cash. But there was a little more time payment buy-

Straws

how I found out.

Dr. Paul H. Nystrom of New York, professor of marketing at erator will be K. V. Ammerman. . | Columbia and president and manager of the Limited Price Variety

Stores Association, Inc, will tal Indiana Chain Store Council, Inc.,; Apr. 27. 3 Get it? “Limited Price Variety Stores,” that’s it. Seems awkward fo me. : | JOHN M. WILSON, Vv. P. sales for National will talk to the Indianapolis Sales Executives Council at the Marott, Hotel tomorrow night. |

WILLIAM D. CROOKS, direc-| tor ‘of advertising development for EH Lilly and Co, won anj award for business advertising|

from the Associated Bisiness/

Publications. DR. RAYMOND C. KLUSSEN-|

DORF, former editor of the Jour-| nal of the American Veterinary Medical Association, is new director of Veterinary Medical Serv-| fces for Commercial Solvents

Corp. in Terre Haute.

CARL P. QUANZ, manager of the Indianapolis plant of Bridge-| port Brass, was+just taken into] the Quarter Century Club, Herman W. Steinkraus, Bridgeport’s| big boss, was there to see him| pinned.

INTERNATIONAL HARVESTER has opened a new sales agency at 3414 E. Washington St.

Hear Harold Hartley with “The Human Side of Business” ‘on

WISH at 3 p. m. today.

South Suburb

bedroom home in Homecroft, It was Pile, of the Pile Boat Co., and Mrs. Pi

ing. Some thought it’ was a re-| flection of the break in the TV) market, a little phony because by late summer TV sets ought to be! at a premium. - The government's shooting $5.5 billion on electronics. | The stores don’t let merchandise linger. Already they're pushing out spring goods to make way for summer wear. It's the eternal race of the seasons. They have to] make room. i “But I'm glad to see scare buying over,” a top merchant

said. “There's nothing more dangerous than a scare buyer. He upsets the applecart. And we

don't know what to do.”

I've often wondered if they would ever find a fancier! Antlers Hotel. name for a Five-and-Ten. They finally did. Here's will lecture on “Housing, Its Ef-| Mr.

k to the annual meeting of the|

That will make two. The other

one is west,’ at 1065 W., Washington St. |

FRANK D. WALKER of]

in Franklin Life, tells me his com- man, will preside at the Home| egge i i Cash Register, Pany has passed the billion-dollar| Show Committee meeting at 130 bd ca} f Million Dollar Mark ‘Robert McGinnis ' p. m. ; | Robert F. McGinnis will ad-

mark, and that's sailing. f

THE HAVESTER cutback in! tractors and farm implements) didn't hit the engine works in| Indianapolis, although 80 engines! a day were lopped off. Companies| are hanging on to their ‘labo forces. ‘

GUS RAYMOND, manager of} Western Electric's big plant, had *

a nice little piece about plant security in the “Dial Tone,” WE's family newspaper. {

CARL REIF, new Kroger branch manager, was up in Purdue last week, where the Kroger! company has six scholarships at] work. |

PEOPLE ARE putting their | hands in their pockets so often these days that there's a new vinylite plastic welt made to keep from wearing out the edges. The prosperity shuttle of the hand that spends.

1120 Southview Drive : . Dr. and Mrs. A. F. Cohn are the new owners of this four-

purchaied from George F. . Edsel Realty Co., ‘repre.

santed by R. J. Hammer, salesman, hanced the sale.

He the administration in the way %f

| The large number of earning) reports were generally discounted. | However, forecasts in business] circles now reveal that the rails, | {which showed poor results in February, will do much better in| March, April, May and June. | As result of these forecasts, irails sparked the advance this] week. They touched off the rally! lon Wednesday which carried to| other departments.

Realtors Plan Ail Events

George N. Craig | To Speak This Week

| Women realtors day, educa{tional class, a bowling dinner, {lunch for wives, and committtee sessions make up this month's calendar of the Indian apolis| Real Estate| Board. { Women board members will present George!

gan almost two months ago. Mar-|

particularly ; i Muginisci

Fewer Houses for More People Is Outlook H

ere

In City and

12 Housing conditions are g

| a drop in new housing starts

scale, report there are more

League's Annual Dinner Thursday

New Officers yl To Be Presented

| Marshall D, Abrams is taking {reservations for the annual dinner meeting of the Construction

League of Indianapolis Thursday night at the Indianapolis A thletic Club. He's managing director of the league. New officers,

% LA a

ANOTHER TRANSFER—A crew from Red Ball Transit Co., Inc., hits its stride on a long haul.

The firm reports a vigorous upswing in transfers between industrial cities.

Curtain to Rise Apr. 20 for Opening Of 26th Annual Indianapolis Home Show

10 Beauties to Form | Court of Honor |

A bigwig broadcaster, beauti-| ful girls and builder of an entire § city will ring up the curtain Apr.

20 at 4:30 p. m. for the 26th annual Indianapolis Home Show. | Jack Bailey, who conducts the nationally popular Queen for a Day program for the Mutual Broadcasting System, will be master of ceremonies. A court of honor will be formed by 10 beauties to be chosen by| the organizations® sponsoring] the 10-day Home Show. They'll be single and between 18 and 25.|

rectors this week, will be presented. The Circle -B Ranch f musicians cur - rently entertaining local TV fans will perform. James Ludwig is directing the program. His committee will meet tomorrow night for a dinner ses{sion at the League building,

Women's Council To Meet May I

Mrs. Klaiber Directs

Mr. Abrams

Name Two Queens |

There will be two “queens” | named at Jack Bailey's national ei apa broadcast from Murat Theater at W. P. Atkinson Jack Bailey

10:30 & 0. Apr. 19-29, Atkinson, Mr, Lane, Gov. Schrick- ance expected to top last year's Conference Plans Queens will be selected by a er, and other distinguished guests estimate of 100,000. Mrs. Aileen Klaiber is directing

[Lake Shore Country Club

an Residence, Oth

panel of women in 'the audience 8. opening Sefeimopies, Jnctuded ert Sheppson is gengraii general arrangements for the Re|W classes from St. Mary-of- chairman for opening ceremonies. ! ’ national com-jand awarded prizes, as is the 41 e-Woods College and Indiana : gion 3 conference of the Women's mander ©f tWe/custom on Queen for a Day|giate Teachers College, Terre’ Assistants Named [Council of the National AssociaLegio, as speak- | orams, Haute, home city of the designer, He is being assisted by H. Wil-tion of Real Estate Boards May

.r Thy rae’ Among guests of honor at the Of the display house, Ewing Mil- liamson Stewart, general chairVeiainaton Ho- Home Show opening will be. W. P, ler. The two schools annually man of entertainment for the en-

Mr. McCord . " 0 0” Cather- Atkinson, credited with building Send slasbes 0 the Some Show. tire Home Show, and by various ine Winchester is directing ar- a complete city. He developed oiling, of Wi uu) | committees Tonzements” Midwest City, Okla. a commu- will introduce Mr. Bailey who will .

; describe this year's Midwest Mr. W. P. Atkinson and That evening at 6 o'clock at nity of 11,000. It's one of the few y A. Naughton Lane will follow : Town and Country display house. | ‘he housing projects of World War II Home Show attendance with board will honor members of the still under construction and grow- The ceremony will be tran-

: ! _ Speeches at other events. Mr. Realty Bowling League at dinner. |ing. Mr. Atkinson's part won top spied by W Jac and rebroad.| Atkinson will be main speaker at Members will entertain their honors in the National Associ-¢3St at the tome :

; the annual Home Show banquet Women realtors. wives at lunch at the Home Show ation of Home Builders 1950 P- ™- Over that station.

: to be held at 6:30 o'clock that, On the committee in charge are Apr. 26. Neighborhood Development Con-| Heard Over WIBO night at the Athenaeum. It's Mrs. Maude Westover, Mrs. Ethel The IREB Educational Class test. ‘Mr. ‘Bailey's program is heard

sponsored this year by Marion Bromert and Mrs. Grace Jones, will be held from 7-9 tomorrow in, Heads Home Builders locally®.over WIBC at 2 p. m. County Residential Buliders, Inc., sndianapolis realtors. Paul L. McCord] Mondays through Fridays. with C. A. Wacker, president in Atkinson is president of Better Homes and Gardens will general charge. fects and Problems.” The mod- the National Association of Home be on hand with photographers, Mr. Lane will speak at the Builders. > ‘to take magazine pictures of the Home Show banquet and the fol-| Three committees will meet to-| Att@nding with Mr. Atkinson display house. Mort Reed Jr., as- lowing noon will give the princimorrow in the board office, 704/will be A. Naughton Lane of St. sociate editor, will supervise that pal address at meeting of the InInland Building. The Budget Com- Louis, president of the Nationallpart of the program. {diana Chapter of the Producers mittee will meet at 11 a. m. with Producers Council. | Turnstiles on entrance doors Council at the State Fair Grounds R. E. Peckham, chairman, and| Jack Bailey will introduce Mr. this year will check off attend- Women's building. Fred C. Tucker, vice chairman. | : Harry Knight, chairman, and] Catherine Mansfield, vice chair-|

N. Craig, past

dent of Region 3.

The meeting, first conference of 'the group, will be held at Pokagon State Park near Angola, in Potawatomi Inn. Invited are members of the council from Indiana, Illinois and Wisconsin, and non - member

N. Side Sales Again Hurdle Auditors to Hear

dess the Indianapolis chapter, | Institute of Internal Auditors, at dls ; 730 p. m. tomorrow at Butler University. He is chapter

The Forms Committee will con-| vene at 2:30 p. m. with Tom Kel-| ler, chairman, and Frank B. Mc-| Kibbin, vice chairman. |

Forty Transactions Totaling $560,000 Recorded for Week Ending Mar. 31 |

Associated North Side Realtors sales soared over the half-|

million mark in dollar volume for the second straight week. | 4 Sales climbed to 40 and totaled $560,050 for the week ending |

president and] {Mar. 31. That's an increase over the previous week's high sales—| © auditor for the : 37 at $543,100. Properties sold follow: { Indianapolis] Be y | W. L. Bridges & Son, Inc, in co-operation with'Hugh A. Teeters| * '~ Power & Light fa 0 hi |—1101 E. 57th St. | SS tt Co. Ail Klaiber |" Edgar E. Brodbeck with F. CO. Thomas F, Carson Co.—Lot 65, The program lieen Kiai | Tucker Co.—6230 Michigan Road. Blue Ridge Road (Hampton &| is part of the In- —mmmm————— — | Jack C. Carr, Inc.—3537-39 N. Kenwood). ternal Auditing 5 Olney St. 29 N. Sherman Drivel pay C, Cash — Lot 10, Shady Course con- Appraisers Hear

| Mr. McGinnis ducted by But{ler’s Evening Division. : Prof. William Shors, head of Butler's Accounting Division, will present the text.

2058-60 E. Michigan St., 715 N. knolis. Gladstone Ave. 4725 Rookwood . Si ra Ave., 4322-24 Crittenden Ave, So Tee & Reilly—2020 E. 69th 3320 E. 423 St. 3136 N, Banoralt M. G. Gerdenich Realty Co. — £ Ave. 2046-48 N. Delaware St, 953-55 Washi Blvd - [2411 E. Michigan St., 4217 E. 11th Whos Washington BIv ar: : = St., 202 Washington Court, 1328 A. H. M. Graves, Inc.—3631 and Promote Rail : College Ave, 1212 N. Mount St. 3645 N. DeQuincy St. Official troit. His subject was “Apprais901 N. Concord St., 4500 Millers-| Haynes Realty Service (repre- 1ArTy J. Hennessey, division ing Small Stores in Older Resi{ville Road, 3601 N. Euclid Ave. |gented buyer)—1109-11 8. Ran- passenger agent here for New dential Sections.” | Jack C. Carr, Inc., with Walt dolph St. York Central System, has been Attending meeting with Mr. |Veon Realty Co.—3601 N. Euclid] grad T. Hill with Bruce Sav- Promoted to assistant tc R. R.Whelden were Mr. and Mrs. C. Ave. and 5387 Rosslyn Ave. age Co.—31 E. Fall Creek Blvd. {Spangenberg, general passenger/B, Durham and Paul Starrett. | Jack C. Carr, Inc., with Willis - |agent, the railroad announced The three men represented the | Adams—5616 Central Ave. 8 yesterday. (Indianapolis Real Estate Board.

North And. Northeast Sold In

George Whelden

George T. Whelden spoke at a meeting of the American Institute of Real Estate Appraisers held Friday and yesterday in De-

| (Continued on Page 46-—Col.

George N. Craig

7 <a

6150 N. Delaware St. Joe Berger, realtor, sold this brick ranch-type home to Mr. and Mrs. M. Garber.’Mr. Garber is with Indiana Fur Co., Inc. The seller was Sydney Gernstein, builder. The up-to-date house, welllocated on the North Side, has three bedrooms. ’ : y M

. 2340 N, Durham Drive 4109 E.

This two-bedroom rambler with rumpus room and den has ‘been sold to John Cadden of RCA, and Mrs, Cadden. Sellers were Donald Nolan, of General Motors, and Mrs. Nolan. Fieber & Reilly were i realtors represented by Lee Crouch, salesman. A

7) ent

|West and South, the prof

Spring Transactions

Erwin K. Wetzel, Stark & Wetzel Co., Inc., and Mrs. Wetzek sold this home to Fred E. Zuhlke, who is in the auto business, Mrs. Zuhlke. Jack C. Carr, Inc., represented the sellers and Lorin Driscoll represented the buyers. ; RE

March Permits Down

County

i og Bad Weather Slows Building Starts, |: An 3 un | Industrial Activity Draws New Residents : By DAVID WATSON

etting tighter. 3

The first quarter of 1951 closed with March showing

in Marion County.

Major transport companies, operating on a nation-wide

people coming in than going out. Utility firms show increase ed calls for service connege tions, which indicate houses

Sold, rentéd and removed from the market. Only 97 residential permits were issued by City Building Commis« sioner Charles FE. Bacon last month, 56 units fewer than in March, 1950, Dollar volume stood at $682,000, a drop of $398,530 from the closing month of the first quarter of 1950. ,

Same Trend in County

Out in the county the trend was the same, though the degree was less pronounced. ; County Building Commissioner Ray Fisher said 176 residential permits were issued for a valuation of $1,711,185 in March. This was a drop of 20 units and $214,615 from the same month last year, RE it FHA ds show that '0 mo! lications for the rst quartor of this sens are down 1513 from last year. Only 881 have been approved. About half of these are estimated to be Marion County applications, Weather a Factor Bad weather was a contributing factor in the slowdown, some contractors said. Th a climb in building Worf abet the weather improves. True spring weather will open the drive to provide shelter for incoming workers and more houses for current residents who want to build their own. . One commercial trucking firm reported the business volume in its history was recorded Jast Sonth. Interstate as tripled, a com man said. pany’ Spokes: While there is movement out of this area, especially to the

transporters estimated the influx

9-10. Mrs. Klaiber is vice presi- into the metropolitan area more

/than offset the exodus figures. Here, as in other parts of country, industrial expansion and defense work accounted for the upswing. : Industry Brings Them : Most recent causes of transfers into Indianapolis and Marion {County are ‘Western Electric Co. construction on Shadeland Ave. activation of military installa[tions nearby, and start of con(struction on the new Chrysler plant. : Nearly all the major moving firms said activity in volume started about two months early this year. Normally, they stated. a change in tempo is not felt until later in the spring, with the peak ‘levels reached in June and in September-October. Even December, January and February were above the average, it was said. These months come closest to being the “slack season.” During World War II, when the force of the housing shortage made itself most strongly felt, movers noted a shift from less Populated districts to areas offerng er employment o re |tafities. That trend fis ein a | plicated now,

Utility Hookups { In the utilities field, Citizen’s {Gas & Coke Utility has been increasing domestic meter installations at the rate of about ‘359 a month. That's approximately

(Continued on Page 46—Col. 7

Concrete Group Elects Horne

Ernest Horne, general manager, Ready Mixed Concrete Corp, was elected vice president of the Wabash Valley Ready Mixed Concrete Association at a convention in Chicago. He served as secretary of the association for eight years. He was replaced in that post by R. E. Hutchins, Terre Haute,

38th St. )