Indianapolis Times, Indianapolis, Marion County, 20 May 1951 — Page 43
Y 20, 1951
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Section Four
‘Real Estate
‘The Indianapolis Times
rt ei eo ee
SUNDAY, MAY 20, 1951
redit Controls Choke Home-Building
%
AS BUSINESS MOVED
green carpet, the people looked one way, and the govern-
ment: the other.
The government again said it was sharpening its teeth
for the controls bite-down. hardship and howls of the civ But the people already were casting excited eyes at road
maps and- resort circulars,
and kicking tires to see if they'd last through the trip.
They were thinking last week of getting away from it all. But the government had a different) idea. It was thinking of getting, down, finally, to the tough pull of defense, the scraping of the manpower barrel, the shifting of materials from cars and lawn pouches to sterner stuff. The talk was tough. There will be guns whether there is butter or not.
Initial Soup
Memorial. There the NPA office
to answer the plaintive chant of the little man.
confused.” It's the skull session for the Controlled Materials Plan (CMP) which meshes gears July 1. At the NPA office a spokésman blurted, “We're busier than bumble bees,” but said nothing about the ' sting, shortage of metals among small users, and the heagache of the little backalley garage owner who will use more soap. He'll have to wash up several times more during the day to get in- a few minutes work’ on his government forms,
One little guy was asked, “How|We engage in wide world trade, much will you be doing in the but we are not at peace. A hor-| his rible threat to our way of life ; ea pa — hangs over our heads, but we in-/exclusive of farmers, aimost dou Indiana Employment Security Division:
third quarter?’ He threw up hands, “How do I know?”
CMP will parcel out materials, |[Sist on business and pleasure as'bled since 1940, Technology Remostly steel, copper, brass, nickel|usual. and aluminum. “A” list and “B” list. boys will know where they stand. passed.”
It will have an|
Wilson, president of the AT&T,
hand of Johnny Denton,~who—withhis—brother Brady, 6, went-to
New York with their parents Mr. naw, Mich., to be welcomed as
holder.” Mr. Denton bought seven shares.
Straws sales representatives are spending Tomorrow they'll be in India in the Columbia Club for factory
DAIRYMEN are watching concentrated milk sales in the rast Hokanson to Speak
and in Ohio. Here they regard it as a fad. They tell me the curve| goes up when the concentrate is) offered, and slides off in a few weeks. Dairies have millions invested in bottles, delivery trucks and| bottle-washing and filling machin-| ery. They won't be quick to] change. If change they must they| will, to stay in business. They're]
waiting. WILLYS - OVERLAND’S New, Castle-born Ward M. Canaday is sales-pushing his Jeep station] wagon. He's the largest producer.
Last year’s output hit 151,000. A| Jeep is rugged. So is a station] wagon. Together they make sales.
Hear Harold H. Hartley with “The Human Side of Business”
on WISH at 3 p. m. today.
Buyers And Sellers Of These Residences Were Brought
1055 E. Willow Drive
PARK CREST HOME~Louis Darke, Darko's Cleaners, bought this home from Anne Ag Mason of Los An dsel Realty Co. in sale.
or, represented the bas twe bedrooms,
Pro
Today +Business se
More Controls? | Bring 'Em On
By Harold Hartley |
On Thursday the NPA will explain the ABC's | of the CMP. The question hour will be at 1:30 p. m.
The “A”|our cake and having it, too, have reported. It rose from 11 million gioner’s office for household painting.
HOOSIER HANDSHAKE—That's Terre Haute's Leroy A.
alter ¥. Smith, Southern Traffic manager for the Monon, tells me the road's traffic department and
Number of Marion County Building Permits Falls
400
toward the edge of May's
It was looking toward the ilian pinch.
The MacArthur hearing was running its cycle, flagging in public interest. The Red come-back in Korea added no jitters to the business scene. Both business and the people who turn the wheels, felt the Korean war might end in a patched-up peace-of-sorts. This would be no surprise. The question is how will Americans respond to a tightening of the defense harness. And can the government make it stick politically? There is a lot of “maybe” in the answer.
200 100
0 .
JAN. "FEB
AN. FEB aR, KE But the “B” boys aren't 9 Names Make News— It's Hammer and Saw Time
lucky. Shey have to s5vee ov TWICE 3S Many You Can't Dodge It, Men
in the World War| ~ will take on all comers, and try| He says, “I'm
~ MAYL-5 : County Builders To Hear Mullins Sales Executives
-~
They've got direct contracts.
of their work would be defense : subcontracts. | I quote you this little nae (JWI Homes Now | piece from Bennett S. Chapple Jr.,
assistant executive v.p. of U. 8S.
Steel. . | “In the 10 months (since Korea), | S ears 20
we have found ourselves in a position without precedent. We are fighting but we are not at war.
Carpenters Are Scarce, so Husbands : Are Being Turned Into Artisans
By OPAL CROCKETT
the amateur hammer men don't stand up with the women. one who started out to be a den America has more home own-
ers than tenants for the first time
in nearly a century. : . . : si vis The number of home owners, according to Robert Wilson, manager, Indianapolis Division,
shortage of labor in all building construction trades, Will speak to local builders Tues day.
and M. L. Ondo, sales manage
view, paslisted by the Massa- Scores of permits are filed
“I believe the days of eating] They build bookcase Youngstown Kitchens Division.
in 1940 to over 22 million in lves, tables, flower boxes and! The 5 p. m. social hour an 11950. =| The greatest building boom in the nation’s history saw $5.5 mil{lon one-family homes built since (1940, most of them since end of World War II and almost half of {them in 1949 and 1950. $160 Billion Net Value Over and above these individually owned houses Vonnegut Hardware Co. represent a net value of about {$160 billion, nearly twice as much jas the nation’s total bank savings | |
improvements. Construction and SD€ remodeling projects, inside and yy out, with a few exceptions, require , permits. The interior improvements Residential Builders, Inc. |business has definitely picked up Hollibaugh Host
More Repairing with the season for exterior im-
“Home modernizing, repairing
15 per cent than last year,” esti- paint store manager said. Women libaugh, president, in charge. mated Carl. Roehm. builders confine themselves principally to
(1K and paint the eaves, he said.
The paint ti i |
before his first job with Mullin store manager re- Co. The latter handled his firm’
deposits. Of the 22 million home owners, nearly 20 million live in single | {family houses. Another 11; mil- | | lion live in America’s six million | | |
fl with paint-smudged face and gram prior to the war,
| il wearing dungarees, asking for a - | cap like her painter's, in enthusi- H B ildi
l asm over her work. (two-family structures and 300,000
|more occupy space in houses with || three or four flats. | With exception of New York | and Chicago, most city areas have
Original Ideas He mentioned ingenuity of amateur decorators, citing one who countersank into plaster paris a
A woman told of raising an umHrella over the porch box she built average-for this year. to protect its fresh paint from the rain.
more persons living. in small (} mold of a maple leaf which he dwellings than in apartments. NY 7 reprinted to beautify a battered peayy construction last Charles E. Wagner, general \ - wall. fell 88 per cent below the weekly |
shaking the young and hopeful ‘manager of the Burnet-Binford =~ tLumber€o,, hopes the frend to- ' ward more home ownership con- |, tinues in Indianapolis. “Our city,” he says, “has always been a city of homes. I'd | {like to keep it that way. I would much rather propagandize home {ownership than home rental. It makes a better, more stable city with more civic-minded citizens.”
and Mrs. Brady Denton of Sagi- the total at $152 million, a drop o the world's first "millionth stockmerits of the toggle bolt, She'd date last year. used it to anchor her swinging
four days in Indiana. napolis, with a sip and a supper| traffic managers and line execs.)
sales are unusually heav_ =. People ter. are using substitutes, like steel-| Family enterprise and camabladed hardware for bronze and|raderie were in evidence in all brass. Nails are coming in slow- parts of the city, in all types of ly but we have 3000 kegs on back home improvements.
order,” he said. er ——
“ is after th or The woman is atter tne man Byrch to Manage New Loan Office
types of heavy construction. Leading Projects
Maynard Hokanson, vice president and secretary of Hume Man- | sur Co., will take part in a panel discussion on “Ré* appraising Rental Rates” at the convention
I SAT AT LUNCH with a rail road vice president a few days ago. He told me of the millions the railroads lose on their passenger trains. | Two reasons: passenger ¢ar pro-| duction in 1950 was an all-time high, and Greyhound Bus Lines took in $45.3 million in the first quarter against $37 million firs quarter last year. AND THERE'S A new light|
They will cost $6 million.
and he’s proving it. Couples are turning to and doing the work together, appreciating the job better of the National for doing so. It's good to see Association of people do things themselves to Building Owners enhance their environment and in and Managers tyrn, swell their happiness,” a
Wednesday in paint store official said. Houston.
open tomorrow Naval Academy at 10 N. Penn- Md., $5 million. sylvania St. a Mr. Burch has
in
Where Money Goes
This year is made to order for wives. Excuses from rwo foremost sales executives,
_-._They are Dave F. Rucks Jr. tightening up
. ; wa .|room additions, garages, general and assistant, of Mullins Manu- has not felt the decline. \chusetts Institute of Technology,in the city building commis-| repairs, new floors and roofs and facturing Corp. of Warren, O. building 42 homes in Hawthorne {Manor, which is bounded by N. d Hawthorne Lane, N. Ritter Ave, d ornaments, materials dealers 6:20 p. m. dinner“ in the Athe- /E. 16th and E. 19th Sts. naeum will be for Marion County |
Host will be the Radio Equip- struction Co. and refinishing are heavier by 10- Provements just approaching, a ment Co. officials with H. A. Hol- marily
: Private mass housing last week medicine cabinet in falling plas-| added up to $40.2 and led all other
Other leading projects included i . a $10-million housing project at Corydon Co., remarked: “There's Son; Arnold G. Davis and Tom
Bayside, N. Y.; improved landing ® shortage of lots where sewers McGinty, Indianapolis, and L. E. C. R. Burch, Indianapolis, will facilities at the Limestone, Me.,|2re available. Higher costs make Detrick, New Albany. manage the new Pacific Finance!Air Force Base, $8 million; re-| YOU wonder whether to go on and| These men are among the 189 Loans office to modeling 18 buildings at the U. 8.|8tick your neck out.” Annapolis,
State and municipal bond sales
Real Estate .........43-44.60 BUSINESS «ov vavesnresss 43-44
Small House Plan .........80
FHA Loans
in Indiana
500 Slump 50 Per Cent; Costs Up; Labor Scarce
By BILL FOLGRIR a pes
Government credit curbs have begun to take a bite out of home-building in Marion County. Fewer families can buy new houses. Fewer loans are being made. Fewer building permits are being issued. It's the government's crackdown on housing credit
which was actually designed
to put the housing industry
on cnutches. It's the wobble and the hobble of Regula-| tion X. The number of building permits granted at the Court-| house and City Hall fell from 411 in April last year to 298 last month—a drop of 271; per cent. During the first two weeks of
May the slump was still sharper— 340 last year, only 164 this year. That's a decrease of nearly 52 per cent. Earl Peters, state director of the Federal Housing Administration, reported: “The volume of FHA loans has gone down appreciably—about 50 per cent from last year—but there are prospects of increasing. volume.” ‘The number of mortgages recorded in Marion County last month was off more than 9 per cent from last year. Why? :
Mortgage Money Tighter
Builders Fight Curbs On Credit
The National Association of Home Builders passed a resolution against Regulation X last week.
Returning to Indianapolis from the spring session in Washington, John Bauer, president of the ABC Constiuction Co., reported: * “The builders registered their dislike of Regulation X.” He commented: “It’s too ro! nn tks low-income bracket. The low-income bracket is being pe-
nalized more than the higher ones.” M. L. Hall, president of the
Hall-Hottel Co., ahd Albert E. Thompson attended the meeting with Mr. Bauer. >
Builders say construction costs (are up at least 10 per cent and {labor is hard to find, but they put most of the blame on Regulation |X, which requires higher down {payments on homes. | As Leo A. Lippman, president of the I. & I. Bullding Corp, |pointed out: “It was the intention of the government to slow down building, Mortgage funds are tighter.” Al Warne, vice president of the -1ABC Construction Co., said:
Saying “Hire it done” won't always work. There's tist, and one a golf professional,|“Regulation X is really going to J v Previous
.|show from here on in.
and it's taken effect. |
Know What You Want, Then Plan
Your New House
LIKE CHOOSING the best mate in life, building and planning the best home is an individiual matter. | Everybody's tastes differ -— {what pleases one person can appear insipid to another. i But one rule is basic: All successful hquses are designed from
commitments have kept up buildMoney is gradually| economists. Tere —— —A—prospective ~home builder's
ing till now.
the inside out, according to home
Ty “He added that his own firm OSt requirement is to know what
Shortage Expected,
It's
{he really wants. } Here are some principles of good planning, taken from a Tile Council of American report: SITE PLANNIN G: House should be well rela to the street. Provide parking space, in-
Robert E. Wirsching, president viting entrance and well laid-out of Wirsching Realty and Con-|garden.
explained: “Priit's credit Mortages are tightening
s Everybody's s shortage of materials.
coming. |ahead of ourselves.”
The “Paint painting but most of them are before joining Mullins Co. in 1940. bigger builders. are not going hesitant to mount a high ladder Mr. Ondo was a golf professional ahead because of uncertainties,
ORIENT THE HOME: Face it
restrictions. to enjoy sun and breeze, protec-
i up. tion against winter wind. Both veterans of World War II, Regulation X has had the heaviest : 4
mortgages hardware buyer and salesman for painting. Men also do a lot of Mr. Rucks took pre-dental courses effect on smaller. homes.
LIVABILITY: Plan flexible, double-duty use of rooms. A util-ity-playroom with walls and floor of rugged material such as clay
been expecting altile is ideal for thes kid’s active
This has/games and sensible ported one middle-aged woman, part in the defense housing pro- not developed yet to any greatmaker's
extent, but everybody knows it's'chores.
for the homelaundering and sewing A ‘study-bedroom is an
We don’t want to get escape for the. adults who want
|solitude.
William L. Bridges Sr. presi: OOMFORT: Have plenty of day-
{dent of W. L. Bridges and Son,|light, ventilation in
|pointed out:
“The slump hasn't|Accident-free stairs,
every room, doors and
|affected us, but many builders are/floors are plan essentials.
not taking a chance on Regula-|
EASY MAINTAINANCE: In
tion X. There's still a demand kitchen, baths and recreation
{for houses.
Government credit restrictions
and less mortgage money have Engineering News-Record put|reduced home-building, according|3nd water can be cleaned in a
¢| to William P. Jennings, secre-
Another was overheard talking 35.5 per cent below the same week | !ary-treasurer of J & L Reality, to her male dinner partner on the as well as the average week to|lnC- “The government is no long-
|er pegging the bond market, and mortgages are not so attractive to large investors.”
There are no material shortages yet, Mr. Jennings continued,
All through winteriroom which are week we had bad weather.” .
| used constantly, Install waterproof, easy-to-clean material such as clay tile for wall and floor surfaces. Dirt, dust
jiffy with a damp mop. INSULATION: An insulated home works year round by taking the chill out of home in winter, reduces drafts and stuffiness in rooms and lowers fuel bill.
4 Indiana Men Join
| but people realize they may Brokers’ Institute
Among the top projects of the nave procurement problems beweek were three plant buildings tore a hou ” in Marion for the Dana Corp. 0 Suse 13 Sompieted.
Costs ‘Way Up’ John H. Otto, president of the
Three other builders who asked aot to be quoted by name agreed that Regulation X and higher
i . Additions Popular ! building costs had reduced homeplug which will make any house- The conven- Pp ; LAN been engaged’ in building holder glow with pride. It's easy| 4 tion began today eople still want carpenters but # the small loan titted $214.9, the highest weekly ’ to attach. He can't fail. and will con- they go ahead and buy available business for 15 total of the year. This includes’ One of them emphasized: “The All he does is slide the wire into {Jy tinue through Materjpls, wccording to Leon years and pre. ®'? Million in housing notes. costs of construction have gone it, and sharp brass teeth bite 3 Thursday. Clark, salesman, Burnet-Binford viously operated Next in order came public way up in the last eight months. through the covering. No shocks, Mr. Hokanson James F. Cook Lumber Co. an office here. buildings except schools, 73.8 The big demand for houses fis in no skinned fingers. And no words r. of St. Louis, ‘As usual In the spring, home The new office million; . schools, $37 million: the lower-price bracket but it's young ears shouldn’t hear. president, said the effect of the Modernization business is good,” will be opened sewerage, $12 million; streets and |NtXt !© Impossible to build a
. i reported Dean Gaskill of Spickeldefense effort on the business of repel Co. p Mr. Burch
Home owners go in for one- Pacific Loans.
by A. T. Coyle, roads, $10 million; bridges, $1 mi vice president of lion; water works, $1
; | Continued on Page 44—Col. 6 other public works, $80,000.
Together By
po
1853 E. 38th St. BUNGALOW. IN BRICK—Mr. and Mrs. Lloyd A. Dill are the new owners of this three-bedroom house. The sellers wers Mr. and
Mrs. John Howe. Fieber & Reilly represented buyers and sell with Walter Eaton, salesman: y fepr uyers . 1 sellers
5206. W. Washington St.
HAS THREE-CAR GARAGE—McConnell & Clark, Realtors, represented by Elizabeth Sanders, sold this house to Steve Arnett of Kingan & Co., and Mrs. Arnett, F. R. Perkins, Perkins Trucking t Service, was seller. : »
eles. Ray Hammer, The bunga- &
A : he . | : | ; : y » : 3
house under $10,000 these days,
land difficult
to build one under
million;
Continued on Page 44—Col. 2
nd
4
of this home purchased from Mr.
Goode, Goode & Goode, Realtors, John Bunch Jr., Bunch Realty Co. the
ianapolis
3828 Central Ave. THREE-BEDROOM HOME—Dr. Roy B. Storms
Four more Hoosiers have enrolled in the National Institute |of Real Estate Brokers. | They are L. R. Abbott, Ander-
new members of the Institute, which is affiliated with the National Association of Real Estate Boards. The Institute now has 9095 members,
Mason to Address
Real Estate Class
Robert I.. Mason will speak cn “Construction and Building” - at the Indianapolis Real Estate Board Educational Class tomorrow, 7-9 p. m,, in Hotel Antlers. B. W. Duck Jr. will be meod-
Brokers °
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