Indianapolis Times, Indianapolis, Marion County, 15 July 1951 — Page 38
This is the second of a series of articles prepared by the Na- { tional Association of Home | Builders and Good Housekeeping magazine, explaining important points to consider in buying a mew home. This
large department ign
A year ; * Congressmen are in this spemillion. cial fix. Now that the Defense That 33 per cent increase more proquction Act is on the statute than offsets the 12 per cent rise n,,s they don't want to take “in But it wouldn't be Im-iy4 ofr Vet, if they were asked portant if dollar sales were UP de novo to grant the President correspondingly. authority to control wages and They're not. {prices, they'd demur. And they're ‘In May and June, sales Were heing asked to strengthen his about 8 per cent above 1950. A powers. 8 per cent rise in sales doesn't gee, In deciding on a Defense Prowith a 33 per cent rise in Inven- quetion Act, Congressmen must tories, : Nor is that the whole story. inflationary forces regain asOutstanding commitments of cendancy in the fall—as the adthese same department stores, at $203,000,000 at the end of May, were 18 per cent higher than the| 4 the other way. Since March, $248.000,000 total in May, 1950. | wholesale prices have declined Altogether, department stores pout 22; (see chart). And that Had inventories on hand and com- drop doesn’t fully reflect the mitments equal to & 44 months’ 0; sharper drop In raw ma-
ministration contends? At the moment, the tendency
supply of goods. Before Korea.| y,.i,1s prices. The BLS Index the Sorresponding figure was only| .¢ 23 sensitive commodities is ‘5 months.
off 14% from the high of the
Suspense in Korea year in February.
a Those aiatls ties, of oo Be ince spectacular, Rubber, tin, and wool May, retailers have pushed hard are off 40% from their highs to reduce stocks. In New York, earlier in the year. Print cloth, leading department stores en- Feligeting ppd in textile ya ge -lea rice war markets, 1s 0 76+ . corte sales. Bul merchants| The Department of Agriculture's are not setting worlds on fire, [forecast of good crops this year When a store puts on a big {1s lkely to act as a check against promotion — wi extra-large any major advance in farm mark-downs——sales plek up. But |prices. day-to-day, unstimulated buy- Indeed, cotton dropped sharply ing is “slow.” Either consum- On the announcement that the érs aren't anticipating short- [20,500,000 acreas planted were siges and higher prices, or they nearly 607 higher than last year. have done their anticipating. {At normal yields, that would The drag-out of the Korean mean a crop of 16,000,000 bales. cence-fire negotiations is a factor Domestic consumption is around in the business lull. It suspends 10,000,000 bales.
action and decision, and it has Final Analysis Pr in. oRlative block In In the final analysis, the Race President Truman and Defense °f DR I Satine
[the 3obiliger Charles EF. Wilson ef After a cease-fire in Korea, if
giat shat flavin is the great alized, a diplomatic settlement — ¢ 1 poAte tl th must still be reached. Meanwhile, ey point out that the Fearm-| . «pense and indecision--in the ament program must go on; that;
sales. At the end of May, stocks of 206|
before they were only $900 Congressional Dilemma’
make a judgment on prices. wf all S Off hut y
Some drops have been fairly
week's subject—'The FHA."
The Federal Housing Assocla‘ition was established in 1934 as {an independent agency, but today
Home Finance Agency.
Its purpose was to make fit easier for families to purchase and finance homes, It also encouraged mortgage lenders during the depression by insuring home loans.
FHA is one of the few governmental agencies costs the taxpayer a thin dime. It pays it's own way by charging a fee of one-half of 1 per cent from the home owner for mortgage loan insurance and another fee from the builder for inspection of construction work by FHA officials. Excess funds are placed in the FHA insurance fund. These amount to $250 million since 1934. FHA does not make loans. It merely insures home loans made
wm mm a——— - COLONIAL STYLING—Stoker furnace, full basement, three bedrooms, a living room fireplace and a lot and a half are featutes of this home at 319 N. Emerson Ave. Sold to Mr. and Mrs, Paul C. Blodgett by the Bob Graves Co. for Mr. and Mrs. Fred
Hog Prices Drop To Month's Low, Beef Receipts Up
By United Press CHICAGO, July 14
WEATHERBOARD SHINGLED—Located at 1141 S. Mickley Ave., near Ben Davis area, this attractive five-room home was recently sold to Mr, and Mrs. Francis Gibson by the McConnell and Clark Realtors, agents for Donald Snell and wife, The house is eight years old.
Stock Trading
BC ER
i
Prices Are Up §
| By ELMER CO. W ALZER (UP) «tual mortgage system.
The livestock markets encoun- oe mites making ne by insuring the tered mixed action this past week. jonder against loss if the partieHogs dropped to the lowest point war loan should turn bad. all month and firmed slightly at| . To do this, both the lender and the end of the week. |porrower must meet FHA re-
Bulk of the choice 180-230 | ; pound hog butchers went at 522. A. F. Wood Elected 50-23; 230-250 pound were traded By Welding Group
lat $22-22.75; 260-300 pound butch-| ; p | Arthur F. Wood, chief process
jers sold at $20.50-$22. Bows 400, oinear of the Resistance Weld{pound and under sold at $18.25- ing division of P. R. Mallory & $19.75; 400-500 pound $17.25- Co, has been elected chairman
$18.25; 500-800 pound sold at Of the Indiana.
{ Section of the $18.25-$17.50, | American WeldThe Monday cattle run was ing Society.
{he largest since October, 1950. Although the
[High receipts featured the week Melnbersiip oz J passat | { e group 8 pii= 7 In the cattle market. | statewide, all
| Utility and commercial steers elected officers {went at $28, A load of 800 pound are from Indian-
{utility grass steers sold at $27.50. apolis. a IA few loads prime heifers were! Other new of- vk { : foun s {ficers include: 3 [Alex B. Pollock Mr Wood Most good to nearly average of Stewart War{prime heifers went at $32-$36.50; ner, first vice chairman; Robert {utility and commercial kinds sold! L. Evans of Western Electric,
at $24-$30.50; 750-pound utility‘second vice chairman; Paul F.
United Press Financial Editor ; NEW YORK, July 14—Trading 'on the Stock Exchange during the last week fell off to the lightest level since the week ending Sept. 13, 1949. | At the same time, prices moved | up steadily. The industrial aver-| age gained 4.31 *points and the| rails about 75 cents. Utilities rose 62 cents. i The list has risen in seven out] of the eight sessions that fol-| lowed June 29, the day the indus-| trial average broke the March resistance level which the chart. ists indicated a bear market. In| 9 {that period the list has gained in| §o SY value of all listed shares a total § of around $4 billion. | Bae Steady Upturn | ai | Impetus for the steady upturn| =H {was traced to anticipation of al § /truce in Korea—but a truce ac-| . pada i a SAriung wale ‘companied by continuation of the = oe : : mo hare Several highly favor-| SOLD—The Youth for Christ clubhouse, formerly a Christian able reports appeared and some Science church, at 2011 N. Meridian St., was recently sold to the traded at $37-838.25. good dividend declarations helped] Revival Center for an announced $158,000. The new owners will
individual stocks in particular| dt and the market in general. The use the building as a church.
market made its best showing on]
seid
he Fe
which never;
x SUNDAY, JOLY 15, 1st y FHA Approval Indicates Residence Is ‘Good Risk’
quirements for ‘construction. and financial standards. In addition to insuring loans for building homes, FHA also will insure loans for remodeling, repairs and improvements—up to $2500 worth. FHA requirements apply to the {individual house, its architectural 'design and construction; the plot on which it stands, and the neigh~ {borhood of which it is a part. The agency's willingness to ap-
it is a part of the Housing an® prove your ‘planned home is a
{good sign, especially if located in ‘a new development. It means the |street layout, location, improvements, utilities, and deed restric[tions all have been accepted in advance by FHA officials. nd this, in turn, means "the entire transaction has been anjalyzed and found economically ‘sound, To apply for FHA approved loans, obtain a list of FHA approved money lenders from the FHA office. FHA loan insurance applications are only accepted when submitted by a lending institution on the approved list.
Soil Conservation,
. by private lending mtutions. OIC] Mer ed = It administers a nation-wide mu-!
Efficiency measures suggested {by the Hoover Commission moved {ahead In Indiana last week as 41 {counties completed the combined |housing program for federal |agencies dealing with soil eon- | servation.
| Thirteen other counties reportjed the move partially completed. | The program includes the Federal Housing Authority, 8oil Con- | servation Service and Production | Marketing Association, all of
; {which will be combined under the
same roof in all counties.
Counties that have completed consolidation are: Blackford, Boone, Brown, Carroll, Crawford, Fountain, Fulton, Gibson, Hancock, Hendricks, Howard, Jack- | son, Jay, Johnson, Knox, Kosciu=
| sko, Lagrange, Lake, Marshall, | Martin, Miami, Monroe, Mont{gomery, Morgan, Ohio, Orange,
| Parke, Perry, Pike, Pulaski, Put\nam, Scott, Spencer, Starke, | Switzerland, Union, Vermillion, |Warren, Warrick, Washington, ‘and Wayne,
| Those counties partially moved
arms production will more and more steel, aluminum, and other scarce ma-| terials from civilian produetion;| that increased federal spending will increase consumer purchas-| ing power; that, therefore, an ex-| panding money supply will chase.
drain off copper, |
Farmer-Labor Split For that reason, Price Btabilizer Michael V, DiBalle asks for powers to tighten price control and Secretary of the Treasury! John W. Snyder asks the Senate to provide $10 billion in new, taxes. The House passed a tax bill calling for only $7.2 billion in additional levies, Labor organizations, notably the AFL and CIO, are backing up Truman and DiSalle, asserting that {f prices aren't kept under control wage stabilization will collapse, i But farmers oppose ceilings on agricultural prices. Here's a basic politico-economic cleavage. Workers are interested in low food prices, farmers in| high food prices. That's why a Farmer-Labor coalition ‘ gets far in the United States.
|
Home Loan Banks Finish Repayment
Cf U.S. Funds
mes Specia
Ti ial WASHINGTON, July 14 The last of the federal government's investment in the capital of 11 distriet Federal Home T.0an Eanks has been returned, William IN Divers, chairman of the agency reported today. His statement followed payments of $5 million to the Treas. ury Department hy Home Loan Banks of both Little Rock, Ark. and San Francisco. The report emphasized that regional banks of the system are now owned 100 per cent by their 3988 member institutions, chiefly savings and loan associations. The members ndw hold capital gtock in their district banks to the amount of $262.3 million, which with earned surplus of more than $31 million makes a total of about $293.5 million, The .government's investment of £125 million in the Home Loan Banks was made over a period of several years beginning in 1932 when Congress authorized the creation of a reserve credit network for home financing institutions. First payments of the Treasury funds were made in 1945. Since Jan. 1, 1050, $106 million of the capital owned by the Treasury has been repaid—most of it ahead of schedule, Since their establishment, the district - banks have advanced their members $3.8 billion. Of this figure, $3 billion has been reald by June 30. No losses have en sustained, During the same period, members have made loans for construction, purchase, repair and refinancing of homes totaling about $29 billion,
ladministration,
in Congress,
among. businessmen, and in.
* Friday when the aircrafts joined Grain F tures Stronger; ee btum -with some show of ‘iy Y : ! utility and commercial cows $26.- treasurer; and Mrs. Charles J. ‘Daviess, DeKalb, Floyd, Grant,
[50-830.50; odd good cows $31. Spotis- of P. R, Mallory & Co; Harrison, Jefferson, Owen, Tip-
-Igrass heifers sold at $26; high Grubbs of Martin Flectric Co., are: Allen, Benton, Cass, Clark, - {
America’s many markets, stock. gen Henry Cabot Lodge Jr. Off : t L ¥ Pp D commodity, wholesale and retail. | qked for a 58 per cent Prins our| 3 se : a e rice rop >
Se-immye | Air Force. Stocks of the various vy United Press : ‘close but later deliveries held only
Heavy Building se uns 29 Per Cent
Ahead of 1950 -
Heavy building topped the $8 billion mark this week, 29 per cenig higher than the first 28 we of 19850, but private home building faded 47 per cent off the pace of a year ago, figures re-
leased by the Engineering News- in
Record indicated. The big difference from last year is the ratio between public and private construction. A year ago, 70 per cent of new contracts were for private construction. This week only 18 per cent are private building
Public works totaled $295.4 million this week. Residential building, exclusive
NeéVereqat public housing, was down to
$18.9 million, holding the total to
date to slightly more than $1 billion. Highway Field Active Highway awards continued high at $32.4 million, but the total to date is only $613.3 million, a drop of 9 per cent from a year ago. New money for construction this week totaled $145 million from these sources: Corporate securities sales, $114.7 million and state and municipal bond sales $30.6 million. This brings the total to date for
corporate security sales to $1. 169.8 million, a 7 per cent increase aver last year, -
State and municipals total more than $1.1 billion for the 28 weeks, a 21 per cent gain over last year for all classes except 2: housing notes, At £3908 million to date housing notes show a 29
per cent increase over last year.
Meridian Pontiac
Enlarges Parts Service 0. A, Chillson, president of Meridian Pontiac, Ine, 025 N. Meridian 8t, this week announced the completion and opening of his newly furnished and expanded General Motors parts department The new department 4600 square feet and is by 70 parts bins To celebrate the opening, Mr Chillson has invited 600 parts dealers and Independent garagemen to a buffet dinner and open house at 7 p. m. July 18, IE
FACTORY REPRESENTATIVE PREFABRICATED HOMES
Expanding manufacturer of quality pre-
covers
fabricated homes seeking qualified repre | sentative for Marion County and South | Central Indiana, Should have sales backs! ground and know sales prometion. Fair knowledge of bhullding preferable, This is a sound proposition for a qualified hard worker Straight" commissions producing an average of about 215.000 a vear for our representatives, Some much higher Write Immediately. For full consideration, list qualifications, background,
Write Hox B-150, The Times,
references
companies {Trading picked up as the week tyres. were considerably stronger wore on but it was-nothing like during this last week at the Board ago, wheat yesterday ruled at 414 the quantity that usually accom- of Trade. Although grain prices ;. 8% cents a bushel higher; corn panies a market of the strength declined during the last two days. 3 {o" 5 higher: oats 7 to 3% at $27 to $34. this one showed. :
served®
B moved up sharply. CHICAGO, July 14—-Grain _fu-
the loss was not enough to offset Selective Buying Selective buying went ahead. Week. Strong groups lee the tire |. During the first three days of chemical. and building. Utilities trading, grains made steady ad-| did better, notably the natural gas/vances with few signs of weakissues. Oils enjoyed several good ness. This was attributed to the markets. Sugars moved up on unfavorable weather in the grain news the price for this staple will belts and the lack of definite inhold high. formation as to the settlement of Steels rose on outlook for good the Korean War. earnings reports. Iran continued! After negotiations between the the news but this ticklish Upited Nations representatives Middle East problem appeared to and the Communists were broken have played itself out as a factor off Thursday, traders thought the for the oils. Experts said the prices of cereals would continue United States could supply Britain the advance. The breakdown of
a 2 or 3 cent a bushel gain. }
Compared to. Friday a week
higher; rye (old) 14 to 1 lower; soybeans 215 to 9 higher; lard 5 to 65 points a peund higher. September and October lard futures were strong with the deferred months holding firm. The strength in lard was attributed to a steady to slightly higher prices on the hog market.
National Shares Stock Over 1950
with oil in event Iran was cut'off the treaty talks seemed to have
and added that there would be no no effect in raising prices. need to ration supplies. Wheat showed the most conFor a time early in the week, sistant gain. Early deliveries of the general list held to a very the grain finished higher by about narrow range with volume light. 2 cents a bushel over the deferred Traders felt thelr way, and later qeliveries. on when the market held its own The corn market had an easier they resumed buying. But there trend throughout Thursday's and
was no promiscuous purchasing. priday's trading with neither the Rather the tendency was 10 414 or new crop months able to try to select growth stoeks which gai1 as high as the previous close. have been recommended for some mpraders reported that the recent time by the experts. advances in corn had attracted Net Gains more liberal offerings from the Net gains on the week ranged farmers and that supplies were to more than 3 points. That was greater.
Rve was the only grain on
which previous advances did not
in Firestone which rose 315 to 102,
Some other issues made wide swings--for example, a 30-point cover the losses..Later deliveries drop in New York and Harlem were fractionally lower, but for and an 8';-pound rise in Ameri- the weak prices averaged about can (C‘vanamid, steady. Practically all sections of the July soybeans gained 9 cents market moved ahead. Among a bushel over the previous week's
the
Gla
better gainers were Corning
ss up 8%; Dow Chemical, up Extras Are Popular
§5:: Firestone, up 31 Mathie . som, up 23%; Allied Chemical, up In New Residences 2; Northern Pacific, up 33%, and Many builders are putting ‘“‘exContinental Oil, up 25 tras” into their houses: built-in Transactions for —the week storage cabinets, fans, automatic
totaled 5,440,840 shares, a daily average of only 1,088 168 shares,
radios, wall to wall carpeting, ete. All items can often be included
Bonds firmed with stocks with in the mortgage, giving the buyer Japanese issues the strong fea- luxuries at a much lower monthly tures. Commodities firmed in payment than if he were to buy
several sessions, them separately,
IN THE FOLLOWING PROPERTIES
Qt Architects & Builders Guaranty Baldwin Block Insurance . < Big Four Kahn ny . Circle Tower Roosevelt | Consolidated Stewat! Block Doctors Terminal #
Underwriters
KLeiM & KUHN
GUARANTY BUILDING LINCOLN 3543
MAKES YOUR HOUSE
A HOME MILLWORK OF DISTINCTION
Farm Bureau Insurance
*. Unexcelled- Through 80 Years of Manufacturing Experience
NEW YORK, July 14 (UP)— National Shares Corp. today reported net assets on June 30, of $11 million or $32.84 a share, compared with $10 million or $28.63 a share at the same time last year.
Net income of the corporation from dividends and inter-st amounted to $179,892 for the first half of 1951, compared with $185,72 in the corresponding 1950 months. Net profit on securities sold was $615,156, compared with $102,901. National reported that common stocks constituted 64.2 per cent of total assets at the end of June, as compared with 80.2 per cent a year before. Cash, U. 8. Government and Canadian Government obligations and receivables represented 31.6 per cent of total assets, compared with 15.4, and preferred stocks 4.2 per cent, compared with 4.4 per cent,
H.C. GAMMON CO.
BASEBOARD AND RADIANT HEATING
Bulk canner and utility were traded at $19 to $25. Utility to, good bulls that came in late sold! at $27.50 to $32. Good to prime vealers went at $35 to $39: Most cull to commercial grades sold
Medium and good short year-
the gains made earlier in the ,.. (how) 1 lower to 114 higher; lings stock steers and calves
weighing 550 pounds down $32.75, to $37.50. Good and choice 850 to 1000-pound feeding steers and vearlings went at $32.50 to $35. Medium 795-pound weights sold at $29.50. Part of a load of 925pound Holstein steers on replacement account sold at $27.25. |Good quality T60-pound shortfed heifers on country account went at $32.50. The sheep market strengthened after falling off at the start of the week, but the gains were not enough to offset initial losses. Compared to Friday a week ago, native spring lambs were 50 cents to $1 lower. Cull and utility grades were off most. Shorn lambs and yearlings were $1 to $1.50 off for a new low on the crop. Fat slaughter ewe sheep were generally $1 to $2 lower with culls around $4 down.
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Whether you plan a new syst or in need of auxiliary heatin
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See the MODEL HOME~—Electrically Heated /2 Block East of Shadeland Ave. on 46+h St.
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'SPICKELMIER CO.
BR. 2424 mm
By DF "Phe hon only very the archi plished th *including one-story less home 6 inches. The com wood sidin built-in fle tures that attractive. Inside, t! features u much larg the front « First, tb coat close Then we planned
Fill i mai
Building p Additional The Portf TOTAL II
Name ... Address City .....
Favor
The p« Regulation ning to b
be discuss over radio “Housing broadcast. Guests ¢ Ketchum, the Veter
He will di
6 per cen for vetera than $12,0 Mr. Ket the extren GI housin, less than «
Const Editor
Frank J appointed rector of t
Mr. Wen tising firn
in the pub of Bowser
HOM 18:13
11911
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