Indianapolis Times, Indianapolis, Marion County, 10 June 1951 — Page 42

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Real Estate

The Indianapolis

imes

Section Four

SUNDAY, JUNE 10, 1951

Survey Reveals 60 Per Cent Of

than diplomas are dropping off education's production lines. : . students, at good pay. More are getting married, setting Home Bu n up apartment homes, pushing along in the world of bread ; business, although they are quction July 1. But more will Bigger paychecks mean

8 Tg 3 \ ] ® 7 } oaay »plusiness By Harold Hartley Pay Scale Hike This year there are paying customers. and butter. | Steel threatens to take a deep! Prices Reported not exactly starving. I've never happen then. It's the go-date fer;

‘Good Jobs COLLEGES ARE grinding out graduates. But more S timulates Students are not grabbing jobs; jobs are grabbing : The stores can use the ig into auto and appliance pro- Edging Downword known a store owner who said (ne Controlled . Materials Plan more home sales in Indian-|

he had enough. | which Bil tor, local NPA di-| : | But since the quick shift rlom{v ih Bl Righ SE only supply 2Polis. ! cold to hot, apparel has been mov-|suyiem which really worked in| Realtors ‘say they've seldom!

ing. And now on vacation-edge, | yy ,14 War IL seen more. people sports goods are rolling over bun-| He feels industry is pretty well homes, It's the step-up dle Sounters 8 value, those. Sos [set. “I've had only five com- thrift homes. fir a. which make Paints,” he said. | “More people are making more older women gasp while the

| i JOUng and Slee ee [0 notice on retail shelves. And in have and moving

|Indianapolis, the usual drop in ones.” Bboy Tale w BE Cw asIaE the price of summer milk will be| York. And in Indiana the Su. Mipsed preme Court decision questioning the law, has hardly fluttered a

price feather.

into better

{price Dairies complain that raw milk i ts have hiousii more Somet didn’t take its seasonal dip. So the prices are now edging downward |price-on-the-porch won't either. |although many buyers haven't The next move is to try to seal Plants are beginning shutdowns noticed it yet. a solid Fair Trade law Into the for vacation, but war plants, with) "P. Lorin Driscoll notes that the | Allison's of GM at the top ‘of the] : real estate market here has held

Big Book in Washington, one that will stick, remove the list, will ride through the summer, yetter than in most other parts

tf doubt over price-fixing Without a break. pl Hate level, 5 And with the cheeks of the|®f the country, On the factory front, the labor cherries getting red in the sun,| Reflects Family Changes supply noose is tightening. Com-| Hoosiers find themselves withi q,y Boyd of the Jack C. Carr mon labor is getting scarce, and plenty of jobs, and an Irresistible agency says: selective about jobs, looking for|itch to do what most Americans| go... es are bein | 1 y sing bullt, overtime. The strongest hack {do--spend it as fast as they get| . people are selling their present pays off. AH jhomes.”

3 Beginning this week, beef] He adds that changes in the size Where's the Beef?

should go on the scarce list. It'siof families affect the housing prices, too low for the farmer, too high for the packer.

imarket., When babies arrive, Ground beef should almost disappear. But it

actually isn’t injparents need more space. hiding. It's standing out in a pasture, chewing its cud until prices|the children grow up, parents need

go up, or it gains enough weight off a grass diet to pay the farmer|a smaller home. “It works both to sell.

| ways,” Mr. Boyd points out. Here's the squeeze. Packers| | 3

will overcome ceiling prices in pounds. ‘Market Higher’ are permitted to pay any amount|” yapo1q Shannon of the Shan-| Ope realtor says he's puzzled for beef on the hoof. And farm- non Commission Co., who has yy the number of homes for sale, ers are allowed to sell for any been around ime ya dosn't know exactly what's be|years, sa e beef c ound | oe ; a Frcs they can get. The cath a! 1985S, 0d 0" best 70g 50pm bit, he comtintin ner that packers and retall butchers| ons Indiana farmers, uncertain rea) state IPS nd ow usually can get only celling prices for in the Korean War, didn’t buy a symmer slump. It's no cause for their dressed meat. t th [feeding cattle to fatten over the|gjarm » That chokes back the prices winter. They waited. . to farmers, Packers refuse tol But they re buying now. And Willis Adams, chairman of the lose money. There's a limit to|/that means they are hopeful that what they can pay. And this has they can do business at a profit. been for at least two weeks much| The immediate dry-up of beef,! - foo low to suit the farmer. |especially commercial grades for Der of people who ordinarily So he keeps his beef at home. hamburger will last probably | Would not put their homes on the His hope is that the government until October or November, That's Market are putting them up for will loosen up on controls, or that| when the summer's grass cattle Sale so they can move into betif he waits long enough his beef|go to market. ter homes. ‘ Prices Too High?

Some realtors — they want to be quoted by name—

observes: / “The market is higher. A num-

looking for] from|

Food prices edged downward money,” explains Fred T. Hill. “So! during the week, but not enough they're selling. the houses they

When|

Associated North Side Realtors, Real Estate Board comes from

: LOW, STURDY AND SOL ORAL =re of the most attractive sales o! fhe wack was his shone : ome at ieber Rd. Mr. Seymour Begal, fawyer, and Mrs. Begal bought it from Mr. and Mrs. Walt Veon believes that high| yup, Hi Wilson, Eras Bromer Ca handled Hay. 3

‘Names Make News—

Dean of Building

Contractors Steals Show at Banquet

White-hair*d, mustached

[“Unele” Louis Brandt stole the =

{show at thé oldtimers’ banquet of the Building Confractors’ AssociaMion. ; In his German accent, the 82-{year-old dean of the city's build-| {ing contractors recalled the first house he built here. That was in |1897. He sold the five-room home for $900. | Back in those days, he said, car-| {penters earned $2 a day. Now| {they earn more than that in an| hour,

Committee Praised

High praise for the Downtown Committee of the Indianapolis

MERCHANT'S HOME—Mr. Raymond E. Roberts, owner of Ace Blind Co., and Mrs. Roberts have purchased this home from Mr. and Mrs. Herbert J. Schafer. Oral L. Price made the sale.

{leading downtown {other big cities.

in|

realtors

| L. H, Lewis, chairman, and x They

other members of the Committee! keep in touch with them, exchange information and ideas. | | From St. Louis, Clarence M.| Turley writes: “I cannot help but} {appreciate the marvelous work

are doing in calling attention of

By CARL HENN Subdivide, build,

do not Which you and your committee bing, bing.

Went to Anchorage For a Little Elbow Room

{ried about what's going to pop iohe of these days.

{but it amounts to more than 2000

gether, just how many of these old homes will crumble

ernment records say a house should last 40 or 50 years, Paints Sharp Pleture George T, Whelden, who has been appraising bullding in Indianapolis for the past 38 years, painted a sharp picture of the entire situation. Mr. Whelden admits he's wor-

“Two per cent of the houses in Indianapolis would be torn down today if we had stirct enforcement of the city housing and building codes,” he wagged a finger, “That doesn't sound like much,

homes,” he pointed out, Of Indianapolis’ 131,327 homes, 80,651 were built before 1920 and 33,932 before the start of the 20th Century. 1

Cut Into Apartments

These now are the large homes cut into small apartments, or used as rooming houses. Some are well kept, others look one step removed from the wrecker's ax. ;

How long will they last?

.. “Age isn’t the important factor it once was in determining the economic life of a building,” he said. “Many factors enter, including the building's environment the neighborhood—and its upkeep. “There are homes in New England that are more than 150 years old and yet they are still sound economically and habitable,” he pointed out. ‘Both Still With Us’ Real estate men were fooled by the longevity of these old places, he:said. They expected they would have fallen into obsolescence long ago—but they also thought that by now the housing shortage would have been ended, as well.

y is 4 fe b 3 ; i ii

Here Are ‘Living On Borrowed Time’

80,651 Residences Built Prior to 1920 Period

Sixty per cent of Indianapolis homes are living on bore rowed time. ; 3 § These are the residences built prior to 1920, which have ~~ |§ been getting yearly postponements from the wrecking crew as the housing shortage continues on, and on, and on. . . « Without the housing shortage girdle to hold them

cannot be forecast. But gov-|

Biers Begin To Feel Pinch J fo fl ch.

Your house, scheduled for construction this summer, may not be finished until this fall, or later, depending upon how scarce the man with the shovel becomes. For with the growing defense program, unskilled workers are infiitrating into the ranks of skilled labor. = - Builders and contractors are beginning to feel the pinch of the scarcity. Their programs are being slowed in completion. The condition would be more drastic

In 1928, Dr. Fred R. Gifford| 31s explained these houses are ell — bing.jand John Clark wought ft andleo,capiained tlicte houses ae {helped persuade county officialsipecayse peopie live in them for

“Both are still with' us” he grinned.

had not construction work of all kinds slumped. Sh As yet, contractors report, the Shoriage of CRIN labor is no serious, 't slowing construction work to ~ great

ll),

degree, but it is getting harder a

That's the thumbnail history of [to pave 10th St. west from Tibbs|15.k of anything better. Soon, as for SON ato >

say that prices are too high.

These big, rubber-padded serry it around the RCA plant controls. It does the work of man

Robot Hands ov oe

hands pick up a ton easily and with driver Nino Marone at the y men.

es it cost to get things around? To

move bags from a railroad car? To move

parts through a plant? To get coal out of a mine? The figure varies. Every industry has its own, but it is one of the most watched figures in industry. It varies from 35 to 40 per

cent of cost of production. I talked with Harold Bock, a materials-handling engineer at the RCA plant. He also is the incoming president of the Indianapolis Chapter of the Society of Materials Handling. At RCA they had been using a small platform lift, that isn’t quite the right name, but it was a hoist which lifted materials on a kind of a flat shovel. After some study, 8 “mechanical Hand” was invented. It actually picks up heavy boxes with steel fingers wnich wear rubber fingers tips. Diamond Chain is big in the industry. It involves the transmission of power. And out at the Western Electric I have seen all kinds of ingenious materials-han-dling equipment. Western Electric has a vast network of overhead conveyors. It

{lines. In the chutes the packages lare actually separated and routed by an electro-magnetism. The boxes are daubed in various places with graphite. Through contact, the boxes “know” which track to take. This industry, little recognized by the outsider, is often the key which switches a plant from red ink to black. It is not uncommon, through mechanical handling, to {cut the cost of the operation 25 per cent. This means less manpower. But unions seldom lift their voice in protest. They know it often leads to “a bigger business, more names on the payroll, Then, 3ald one materials-han-dling engineer, “we are all a little lazy. We like to do it the easier way.” And who would ob-

hag chutes, and parts assembly!ject to that?

Straws big breath;

What's worrying builders?

One builder gave in one

Ethel Bromert disagrees. “I don't think the price of

sizes, “especially when you compare it to the price increases in everything else.” She also disagrees about the number of homes being offered for sale. “Our sales at the Evans-Brom-ert agency have béen good,” she reports, “but I haven't noticed any unusual number of homes on

lf (the market.”

North Siders Sell 23 Properties

Associated North Side Realtors sold 23 properties during the wee ending Monday. Here is the complete report, as

man, and Alfred Campbell, secretary: Hugh Teeters Co. — 971-73 W. 324 St. Bruce Savage Co.—Lots 21 and 22 on Highwoods Dr. in Highwoods Addition, 5338 Washington Blvd., 515-17 E. 234 St., 33 Kenmoré Road, 4928 Guilford Ave. Uptown Realty Co.—21st St. and Country Club Road (Tract 8). A. H. M. Graves—3610-12 E. Michigan St., 1264-66 W. 33d St., lot on southwest corner of N. Meridian and 54th Sts. (Fay C. Cash, co-operating broker). Haynes Realty Services—2023 E. 46th §ts Willis Adams—4344 N. Pennsylvania St. Gregory & Appel—5156 Guisbrd Ave, 3302 E. Fall Creek Blvd, 107 N. Gladstone Ave. 108 N. Gladstone Ave,

John Max Realty Co.—Lot 20 on E. 64th 8t. in Windermere, Hall-Hottel Co, — 6100 Brookville Road. Ford Woods Co.—4158 Graceland Ave.

houses is out of line,” she empha-|

The Spann Co.—2937 Park Ave

Hawkins-Whiffing Co. — 6382

“Confusion, wage controls, price controls and persistent and almost continuous rise in labor demands for brick layers and other

skills, quadrupled in a few years.” “The building dollar buys less now than in almost any other

Broadway (Gil Carter Co. cooperating broker). American Estates Co.—Lot. 46 in Meridian Hills (Harry L. Rob-

(business district, its importance velopment these days.

{and the progress made from time! {to time in improving it.” it {City has written Mr. Lewis: “I1| {enjoy very much reading your re{ports and want to congratulate you again on the splendid job you are doing.”

Parking Lots Mr. Campbell also reports: | “An interesting development {during the past two years on prop|erties adjacent to our downtown {district has been the use of many |of these properties for permanent |

{parking facilities. This indicates |, 0 have built their own homes, |

{that parking is no longer consid-

{no [is

that.

{among {High School Rd. and Glenn Ar |Rd., stretching northward from |W. 10th St. to 18th St.

But in peaceful areas around his partner, but made no special

he perimeter of

limited only

William J. C bell ‘of g|there is still room for leisurely | _Hp g Kansas). itiement, where conformity is living there in 18935 when a young

book and the building codes,

those interested in the central Many a suburban real estate de-|/Ave. to the county line.

i Dr. Gifford later bought ou

Indianapolis effort to bring in residents. There were only a few families|

t the rule and a man's house | ex-GI named Herbert Glass took| by his pocket- over a faltering gas station at the intersection of W, 10th and

Anchorage Subdivision is like High School Rd.

Wooded Acres

There's a village-like atmos- moved the family there from Vin-|

{phere about the homes scattered, 80 wooded acres between and two daughters, Mr. Glass

ms nearly * doubled the population]

Most of the families

living

| {living in garages or tents while; ered on a temporary basis, and it the houses were being erected, en-|

[has been proved that operators of larging from small beginnings

|Bood parking facilities can pay as while paying for their lots. Those

high a price for property—either gjready settled help newcomers. |

: One day, perhaps soon, Anchork|competitive lines of business. age Subdivision will be much

{for purchase or lease—as other |

A month after he came, his fa-

ther, Lawrence McDowell Glass,

‘cennes. Since he had seven sons

there at one stroke,

i Lald Out Lots Richard, another of the Glass sons, is a surveyor. With permission of Dr, Gifford the area

{into lots, Dr. Gifford made Mr, Glass his {real-estate agent, and has been {agent ever since.

{supply approaches demand, better of the §

t housing will be available. {rant for many of the old homes | Many such home owners seen this coming and have

lof their old houses, ‘he added. Wise ones remodeled into small, icomplete living units. But those {which merely become rooming houses, as many did, will become the first victims of depreciation.

| Cites Records “Our records show that a great majority of all the veterans buyling homes under FHA and GI {loans came from cheap rooming {houses where they shared kitchlens and bathrooms, and paid $15

was surveyed ard blocked outiper week rent,” he said.

| Hooking an arm over the back‘rest of his chair, Mr. Whelden continued: “Indianapolis has about 54 per

There is considerable private capl- pusier. High School Rd. will Mop a aents are appearing|cent home ownership—high for a

tal being invested in the develop-|rejocated and widened to extend

released by Willis Adams, chair- Ment of these parking facilities, northward as part of the highway and more is available if we canipypass belt around Indianapolis.

But today, hardly half the 80 |acres is spoken for.

obtain desirable locations.” |

| |

Standard to Build |

A new $120,000 Standard Super-| market will soon be constructed,” at 1700 E. New York St., company officials announced. The building, constructed o face brick and cement blocks, |? [measures 65 by 120 feet and is adjoined by a large parking lot| for customers. Five old frame|®

room for the new store. { The company now has another] similar-sized store under |struction at Richmond.

Building Wages Rise

tenths of 1 per cent during the first quarter of 1951, 1.8 per cent

{have r| tasted (and smelled) strongly of

houses will be razed to make Waters i {during the 1800's. There were only a few houses] con-|then, but there was a grist mill |p

and a saw mill, both long gone.

Streams, Too

Much of it remains open pas-

treams.

'On New York St. ture and wooded hills, at the foot

{of which runs little, spring-fed |

The springs once were said to

medicinal qualities.

ulphur.

Older residents say people from miles around and from out of

One

tate used to come to drink the

and watch ball

games

Being Developed

Green Rock Addition, a South Side project being developed by Chapman-Streets Co., has seven homes under construction. The first will be ready next week. When the project is finished, it ill have 33 houses, ranging in {price from §15,000 for a two-bed-{room home to $35,000 for a sione double. All will be built along Green ock Lane, which curves like a

{horseshoe from 5200 to 5400

The land was secured in 1829 ig. theastern Ave.

during the last quarter of 1950. | grazing and timber land.

from the government by a settler

{named Martin Martindale. Union wage scales in the build- pe died in 1843, his wife, Eliza« ing trades rose during the firstinsth passed it on to the six chil-| quarter of this year, but the rate!qren of her daughter, Mrs. Char-|dustry is out in front in the move- in the value of building construcwas slower, They went up eight-|jotte Pugh. | From then until 1928, when {tin standard sizes, according to| was sold, it remained largely the American Standards Associa-

After,

‘Out in Front’ The prefinished wallpanel in-

ment to make building materials

ition.

icity of this size. Those home lowners who have reasoned it out

» . {should weather the ride in good 30 ite ro ect | { “But those bleeding old homes

of every cent return they can get, will find the well has run dry.”

‘Bankers Nominate Cost

Aubrey M. Costa, president of ithe Southern Trust & Mortgage {Co. in Dallas, is the official nom[inee for president of the Mort~ {gage Bankers of America, The election will be held during the |association’s annual convention {in San Francisco from Sept. 11 to 14,

8.8. Sp

That will sign the death war- Indianapolis office of the Indiana

Employment Security Division,

have commented that common laborers taken definitely were getting scarce. [necessary steps to prplong the life Contractors usually were able to

get enough, but had to pay more and wait a little longer to recruit them, he said.

1133 Mortgages Listed in County During May

ONE THOUSAND, one hundred thirty-three mortgages were recorded in Marion County during May, according to the Union Title Co. i They totaled $7,210,704.25, not including the $12-million mortgage from the Louisville Bank for Co-operatives to the Indiana Farm Bureau Co-operative Asso elation, : Thirty-one mortgages of $20, 000 and over were listed. v4 # » ¥ DURING MAY these were the {big four among the lenders: {| Ralilroadmen’s Federal Savings & Loan Association, 148 mortmortgages, $365,200. Union Federal Savings & Loan Association, 71 mortgages, $382850. Prudential Insurance Co. 41 mortgages, $365,20. Fletcher Ave. Savings & Loan Association, 72 mortgages, $322,498.12, Sn

Indianapolis 4th U. S. City In Building Construction

Indianapolis ranked fourth among the cities of the nation

{tion during March. The U. 8S. Bureau of Labor Statistics lists Indianapolis right lafter New York, Chicago and Los

|Angeles and ahead of Houston, Detroit, Philadelphia and Denver. Indianapolis led the country educational buildings and rated third in institutional buildings. The value of building construc. tion .in the city during the first three months of this year wal

E i

; was more than three times what it was in the first quarter of last - year — $21,903,000 as comps ! with $6,264,000.

line.” Then he remembered who he was and what he was saying. TWA just had its biggest day. It was on June 3 that the line carried 6,075,000 revenue passenger miles. Previous high was last April 1st when TWA. ticked off 6308908 revenue passenger miles, , Passenger revenue bounced 50.8 per cent,

HERE'S A steel company moving into the small fry field. It's the Northern Indiana Steel Supply Co. which just formed a wholly ‘owned subsidiary called Pal Wheel Goods, Ine. It will make baby walkers, velocipedes, Hcyeles and automobiles, junior ze. )

“The Human Bde of Businepe” on

FIBERGLAS is proud of the ceiling that it put in for the Stop and Shop Food Market on the South Side. It has more than 17,{000 feet of noncombustible Fiber|glas of acoustical tile, to kill the (hum of shoppers, and the rattle of cans in shopping baskets. DAIRIES AREN'T ‘scared of the concentrated milk threat as you may think. This is why: A woman buys frozen orange concentrate to save work, She doesn’t have to squeeze oranges. But she doesn’t save work with concentrated milk. She has to put back the water which has been taken out. « And, knowing people, the dairies » feel sure “concentrated milk” is Just a frozen dream. ’

Realtors Report

Farm prices are higher than Yast year in most parts of 'the country. The National Association of Real Estate Boards base this finding on reports of local boards in 347 communities. Higher farm prices were noted by 65 per cent of the boards. Prices were about the same as last year in 32 per cent. They were lower in only 3 per cent. ' In Indiana, Illinois, Ohio, Michigan and Wisconsin, 80 per cent of the communities report higher prices,

bins Realty Co. co-operating broker). Farm Prices Higher,

780 N. Aud

Indiana Bell

and Mrs, John R. Basch. B.A. Soy

handled the sale. It's a twa.story

ibon Rd. Miss, Margaret Saltzman and Miss Dorothy Saltzman of the

ick house,

Telephone. Co. have purchased this home from Mr, of the Jack C, Carr agency

Co. arranged the sale.

3535 N. Chester St.

Mr. and Mrs. Marc L. Ogden have bought one-story home from Mr. and Mrs. George J.

is a Western Electric Co, official. Charles Hall of the

Yet home-building during same period slumped 248 units valued at $1 year as compared with valued at $3,657,000 last The value of other types buildings increased more nine times. x3 : However, these figures do include many of the su

alt