Indianapolis Times, Indianapolis, Marion County, 6 May 1951 — Page 50

SUNDAY, MAY 6, 1951 Builders, Realtors, Bankers

Headed for Convention

Parley Slated In Washington

Indianapolis architects, builders, realtors and mortgage bankers. are. convention-bound this week. Among the delegates is Albert E. Thompson, realtor and builder, recently named to the president's advisory council of the National Association of Home Builders. [National directors and the ad--fvisory council of the -NAHB-will

THE INDIANAPOLIS TIMES Board Honors Past Officers

PACE 50

Outlook in the Nation— Plant Building Redl Estate ill Van Fl 3 Will Van Fleet rc potoncs

Stop Boom, Too?

Still Booming J

Running 405 Pct. By iA Livingston Ahead of Year Ago |

WASHINGTON May 5—Don’t overlook a sleeper in|... 1 ence Yoont the news. The furor in Congress and throughout the na- ,.i4ing contifues. tion over Gen. MacArthur's policy in Korea has overshad-| it's running 405 per cent ahead owed Lit: Gen:-Van Fleet's victory over-Chinese Red forces.-of-last-year. -In-12 of the first|:

Defense Tempo Might Lag But Thinking’ s the Other Way

in factory-

Albert E.

Don Compton Thompson .

efs, "and farmers to keep that] Mr. ‘Thompson and Mr. Hall

If Gen. Van Fleet's success is the beginning of the end 35 Seels St. engineering! jest in a ingen Saturday of the Chinese spring offensive, it could have a tremendous trial buildings lead all other | Attending with Mr. Zhompson 4 ng 1 i kinds of building. * {will be M. L. Hall, réaltor and influence on U. 8. business. likewise be. less than. forecast, Industrial building for the lat: ] builder, representing Hall-Hottel The tempo of defense, al- It's well for government policy est week reported by Engineering! x {Co:; Inc. and “J6hn Bauer, presready behind schedule, may makers, businessmen, labor lead-jn. . pocord totaled $80 million. aA ! lident, ABC Construction’ Co. : FORGOTTEN MEN RENEMBSRED. Seated (left to right):

Fred L. Palmer ie Wendell M.

ee.

lag some more. That would push . : ,_¢« All heavy construction added: os rearmament peak further into Fossibllity Ww mind, even if N's jup to $270 million for the week. Hicks (1945), Guy H. Williams (1940), R. E. Peckham | (1942), Carl Gy Seytter (1948), Thomas F. Rpenalional girectons ah, along the future, say Into late "52, in- "",\ "ho oho however. aly hat was 8 per cent below the Carson (1920, 1934), Dan W. LeGore (1932). Standing (left to right): J. Harry Miles (1933), Fred Marion oe Residential Buildstead of this year or early next. tpinying 1s the other way. wal | “eekly average this year, but 30 C, Tucker. (1944), Bruce C. Savage (1950), George T. Whelden (1938), Earl B. Teckemeyer 1941), ers. Inc : In that case, U. S. expenditures Street and Washington seem Per CCIt WBher than last years) Albert E. Uhl (1931), M. L. Hall (1936), Frank E. Gates (1925-1926), Walter M. Evans Cir _ M. L. Hall

would not rise as rapidly as President Truman and Defense Mobilizer ‘Charles’ E. Wilson now anticipate. Accordingly, the demand for steel and manpower would

firmly agreed on one thing: In-| flation. The thought echoes back | and forth from one place to the| other, thus providing its own] asseveration and documentation.

GOOSE-STEP

Farm products, linked by parity, join ad— vance of industrial prices to new highs.

@ o

a Oo

INDUSTRIAL ——1180Q SONNOIEY

PRICE INDEX (JAN: 1946100) > o

100

Data: Department of Labor

SPMAMI JASOND J FAI J AS ONO J FMAM J ABOWO 7 MAR J A BOND FI AI J AS OND J PMA NJIA 5 OW) me 1946) Lee | 947) 1 1948) be) 949d lee | 9 5 0d been | 95 [md

OLESALE PRICE INDEX JAN 1948

J. A Livingston

Comes Fall, Then Boom Again

$tocks have heen climbing almos cording to the Standard & Poor’ they're only 9 per cent from a new The rails and utility shares, 76 per . cent respectively from their ’29 tops. The rails have been making some headway in recent trading on the New York Exchange. + Wall Street's theory is this: {Comes fall and defense will | ‘boom the boom all over again | —recent declines In the price of wool, cotton, grains, rubber, tin and other commodities notwithstanding. Furthermore, the ‘slackening demand for televi-

Sellers’ Market for

schedules of military production and (b) his personal apprehensions. His job is to curb price advances.

ficial depends on that. So it's but

bers of the Chamber of Commerce that inflation

greatest domestic problem. Mr. Johnston's not alone in projecting ahead his particular prob-

lems. Secretary of Labor Tobin is worried about the labor force: How will he get the 7.2 million

additional persons he estimates will be needed by the end of 1952:

for defense plants and the Armed Services? To attain that large total, Mr. Tobin is counting on the addition of 1.8 million persons té

Automatic Unstabilization lor, chairman of the

newly constituted Wage Stabilization Board,

market for labor. Business men raise wages to hold workers.

For Mr. Taylor, that's a headache, since his Job is to stabilize

wages. His board will have to develop a formula to restrain voluntary wage increases. Similarly, Michael V. DiSalle! and the OPS are looking forward apprehensively to mounting pressure on prices when cutbacks

| the labor force through normal | growth,

working. on. television

{within

Industrial eaommOoHDn t dally to new postwar highs. Ac8s weighted average for 50 stocks, all-time peak. however, are off 63 per cent and

sion sets, autos ‘and apparel 3 regarded as temporary. Economic Stabilizer Eric John ston expressed the official ad-| ministration view in a talk to the, u. 8. Chamber of Commerce thus:! “By Christmas our defense pro-! duction will be really rolling. By the first quarter of next year, the rate of national income will be 12 per cent higher ‘han in tne| first quarter of this year. That is| la tremendous inflationary force.”

Labor

Mr. Johnston is projecting ahead (a)

His success as a government ofnatural that he would tell mem-! is America's

attracting 1.4 million persons not now working in defense plants, reducing unemployment by 600,000, and shifting 34 million from non-de- | fense to defense work. In many cases, this last would A person sets, for, example, might merely transfer the plant to electronic specialties for the Armed Forces.

To George W. Tay-

not call for job shifts.

that means a sellers’ will be willing, even anxious, to.

That's ‘why “the administra { tion wants to fix farm parity prices for a year ahead. ’ The record since Korea is in Mr. Johnston's mind. Farm prices are up 23 per cent as against a 16 rise in industrial

States government has awarded some $800 million in construction contracts.

comparable average. 8 per cent above the same Week last year. The 18-week total of engineer-| ing awards exceeded $5! bil-| llon—more than 40 per cent above last year. U. S. Contracts Up 59% Private building went up faster than government building. While private construction

Twenty Former

Special Party Held

jumped 50 per cent, public works . gained 30 per cent—but federal In Washington Hotel projects registered an Increase Mare than 100 realtors packed nearly four times as great as

the Gold Room of the Washington

state and city contracts and were Hotel to honor the past presidents

18 per cent higher than the in-

attended. They were seen but not heard. Their vice presidents did the talking, Each reviewed his own ‘year of glory” and poked fun at the president under whom he had served.

Oldest man present was short, white-haired Frank E. Gates, who entered the real estate business here more than 62 years ago. He Is the wl man to ‘hold two ——

Private mass housing is lagging, while government housing is up sharply. During the last week, private mass housing was $61.3 million, 36 per cent above the 1951 average but 44 per cent below the comparable average for 1950. But public housing was 146 per cent more than last rina: Boye shan ia: earl

directed by R.

‘present

Durham (1939), Howard W. Fieber (1949). Joseph J J. Schmid (1921), L. H, Lewis (1927

{ves C.B

teen girls In formals will i gh program at the Indianapolis Real Estate Board's asso-

ciate. party Thursday in the Athenaeum. Entertainment begins at 2:30 p. m. with dinner set

for 6:30 p. m

The entertainers are the Pui

crease in private building. The and vice presidents of the 39- secutive terms as president of the gain in federal works was 59 per year-old Indianapolis Real Estate board. Seon In “ate any funisipal Board. Only other two-termer is orks it was only per cent, | ; Thomas F. Carso : : ag Twenty former residents : > SOT. So far this year, the United , P ® Program arrangements were

E. Peckham. chairman of the Past Presidents’ Committee, and Joseph T. Argus, who is president of the Real Estate Board this vear. Out of town and not able to be were these past presidents: Jay A. Egbert (1916), E. Kirk McKinney (1929), Thomas E. Grinslade (1930), Paul L. McCord (1935) and A. H. M. Graves (1947).

Purdue Girls to Sing Presidents Attend For Realtors Thursday

duettes led by Albert E. Stewart,

director of musical organizations '’

at Purdue. Dean Gaskill is chairman and Mendel McCarty, vice chairman,

for the annual stag event. The regular eduvational class sponsored by the board will be held tomorrow, 7-9 p. m,, in Antlers Hotel, Topics for study will be “The x Real Estate” and “Factors Involved in Real Estate Investment.” The board's budget committee

Economics, of

will meet at 11 a. m. tomorrow with R. E. Peckham, chairman, and Fred C. Tucker, vice chair-

man. The Forms Committee will meet at 2:30 p. m. tomorrow, led by Tom Keller and Frank B. McKibben. Both meetings will be held at the board office.

* |Architects’ Meeting

| Indianapolis will be represented

at the national convention of the American Institute of Architects {in Chicago at the Edgewater Beach Hotel Tuesday through Friday. | Heading the delégation will be Don Compton, president, Alfred Porteous, secretary, and Edward E. Simmons, treasurer, of the Indiana Society of Architects.

Others attending from the state group will be George Caleb Wright, Edward D. Pierre and

Arthur Wupper.

Producers to Meet Also opening Tuesday at the Edgewater Beach Hotel will be the meeting of the National Producers’ Council, Inc. It's in conjuction with the arehitects’ meeting. Charles Lueckman, industrialist turned architect, will speak on “The Client's Point of - View.”

Hoosiers on Program H. Duff Vilm, who has insurance and mortgage agencies, will take part in the Mortgage Banking Seminar to be sponsored by the _ Mortgage Bankers “Associa-

H. Duff Vilm

‘tion of America in Chicago June

18-22. He is a member of the national board of governors. Tha session will be followed for the first time by an Advanced Mortgage Banking Seminar June a5 _o% - Arthur Weimer, Indiana versity School of Business, speak at the first seminar.

Mr. Lewis at Clinic

I.. H. Lewis, North spent the week-end in Chicagn attending the third Commercial Property Clinic sponsored by tha National Association of Real Estate Brokers.

Uniwill

Side realtor,

M. A. Hanne Concern

Announces Dividend

CLEVELAND, O, May 5 (UP) A second common stock divi. dend of 60 cents a share was announced today by the M. A. Hanna Co. to be paid June 13 to stockholders on record June 1. Over the same period last year, a company spokesman raid, two dividends of 40 cents each per share were paid.

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speaker at t Marion Cou ers, Inc. Dr PF. Ru coast to cos facturing C outline “Cu Builders’ Mi Two other L. L. Ondo, | and Dale Re ger of the

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for this di Athenaeum Equipment of Youngsto Also at th certificates firms which the associat pensation p year withou

per cent cause real shortages of consumer

durable goods. Then, consumer purchasing power will spill over to apparel, groceries, house-wares. To Mr. Johnston, price stabization is the way to wage stabilization: “In a democracy, when the cost of living goes up, wages inevitably follow.”

prices. The rise in the cost of living has been 8 per cent. To General Motors workers alone that would mean a wage rise of about 13 cents per hour in nine montphs.. Such increases. would result in automatic unstabilization, since all workers would want them. !

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