Indianapolis Times, Indianapolis, Marion County, 30 September 1951 — Page 39
aftscally
or $199 eos $268 «0. $268 veo $798 + $1288 + $2450
~~ -~¥ou can look for two things.
Pat
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Real Estate
Builders,
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RETAILERS ARE being
Sales, like the scared buyers who made them, jumped like a scared rabbit. Last week's register tapes were “about
five per cent under.” . The reason is the frightened buyers aren't frightened any more. And quick-war fears have softened into something else. It's the atmosphere of readiness. That allows more time, gears down the push in preparedness, and the
push in buying. While VIE 5 (and some-
times 10) per cent under last year, they are exactly that much over 1949. But retailers think, as they must, only in one direction. That is up. It's their measure of their imerchandising ability. It is part of the contest, shooting against an ever-rising
par, ® » =
THERE HAVE BEEN huddles as to what to do about it. They have examined their year's sales curve, and their eyes have drifted * consistently toward the sweetest selling months of the year. Christmas,
biggest Christmas seasol
The And you can also expect
ever.
the stores to “reach for it” thisitime
year. They will lengthen the seagon which has, for years on end, kicked off with Turkey Day. » - » THIS IS HOW you can tell. At {east one big store will open its Christmas toyland this week, pearly seven weeks ahead of the usual tee-off date. Christmas stocks are rolling In now. They are being prepared for movement to the ng shelves. In short, the stores are going to make up some of their war-scare gales in a stretched-out Christmas buying season. = » - FOR THE BUYERS this is a break. It gives more time for selection, and less of a spin of the revolving doors in the elbowing period which comes after Dec, 1. To do this merchants will pro«mote Christmas heavily just as goon as the air gets brisk énough for people to take Christmas shopping seriously. NN = » AND THIS YEAR when the harvest moon turns gold, the
shoppers will begin to turn their minded, yet more powerful. And
own gold into the usual lists, "nh few names cut a moved away—and a few added, new nephews and nieces, and inlaws, And they will find, as they always do, that they will have to add a few more than they cut off.
Kids in Clover
THE HIGH SCHOOLS are thinning out this year, due to two things. One is a dip in the birthrate curve from 1938 to "40, The other
is the sweet come-on of inflation diction.
ay. P Tom O'Malley, regional boss of the Wage and Hour Public Contracts Division, breaks it down. He says a lot of the stay-away of high school boys is due to the summer jobs they took. » # ” . IT’S STRANGE, and I suppose embarrassing in some quarters, The kids who are just beginning talk bass went out and: made ‘than their fathers, now
LOW COST HOMES—5300 block E. 20+h St. built by Grinslade Construction Co.
Today «Business A Kringle to Give y Wink in October
By Harold H. Hartley
|
haunted by last year’s figures.
” Na ~ BUT THERE are still a lot of boys bringing home fat pay checks. And they are making bad guesses. They are keeping the good-paying jobs, and letting their learning die on its tender vine. What they don’t krow is that they will spend the money. The jobs ‘will disappear. And they will have to live the rest of their lives with educations which died on third base.
All Nodding Yes
FOR SOME REASON people look to the experts. . Yau don’t have to believe them. They've been wrong often enough. But usually there's a little discord -among their voices. Today there is virtually none. Some speak with caution. But, to the man, they're touting good times as far as they can see.
~ ® » AND IF YOU HAPPEN fo be one of those who has picked up that old adage, “the public's always wrong,” then this is your
The big-name guessers all admit that stocks are the highest ever. But there isn't one from Babson to Brookmire to Standard & Poor's, who isn't giving infla~ tion a little more rope.
” » EJ EVEN THE CONSERVATIVE International Statistical Bureau flashes the green light with an
ler, “the advance looks like a major move.” Don’t say I said it, for I didn’t. I'm not in the guessing game this time. "I've still got a few scars on my fingers.
The V-Six
IT'S ‘GETTING ‘¢learer now, what they fussing with up in Detroit. : . It's a V-8ix engine with three cylinders: on each side. It will have overhead valves 1 economy. And it will save crankshaft béarings. The whole motor will be shorter.
, sn MOTORS ARE GETTING thrift
in time they'll get them small en to tuck in your rear luggage trunk. , : But don’t ‘ask how soon. Rearengine cars may still be 10 years away. ’
rl » ~ SUCH MAJOR CHANGES do not come until they have to. And so long as they are selling as easily as they are today, there's not much need for change.
32 Below
THIS MAY BE a weather preI hope not. But Studebaker is “soaking” its new. Commander V-8 engines in a freezing room at 32 degrees below zero. To me that means they may be making power for the cold countries. Alaska?
baker you probably will be riding around in some Belgian steel. Studebaker couldn't wheedle enough from the war effort to
Gadgeteria
NEW IDEAS fascinate me.
“all-clear signal,” with this tick-|
And if you buy a new Stude-|
~The Indianapolis
= SUNDAY, SEPTEMBER 30, 1951
BUILT BETTER—The modern home: is sturdier, <a better buy than ever.
’
Is a Better Buy Than One of 39
Today's home is betfz: bufit, more attractive, more efficient and a far better buy than its predecessors, despite the fact that it costs twice as much as it did 12 years ago. And Cliff Krabbenhoft, project manager for the Grinslade Construction Co., can prove these words. ’ “Sure,” he agrees; “a new house today costs 100 per cent more than it did in 1939. “But it’s a better buy for the family now because the average wage earner is bringing home 160 per cent more pay than he a me 1939,” Mr. Krabbenhoft poin out. ~ Comparatively, other have climbed higher. ~ “Take the low-priced automobile, for example. They used to sell at about $600 or $700. Today they sell for $1800 or $1900,” Mr. Krabbenhoft illustrated.
‘The Real Cost “The Bureau of Labor Statistics shows that today the average family spends only 11.2 per cent of its income for shelter. In 1939 this was 18.1 per cent.” he said.
to buy a home today.” And he can prove this point, too. For the eager public snatches up the Grinslade built homes faster than they can be planned and erected at $8950.
through its latest development, Ritter Park, which located
ter Ave. About 225 homes will be
pleted. : “There's a lot more to it than just building houses,” nodded Mr. Krabbenhoft. “We spent at least
and gaining approval of our plans from the city.” , Built Sewerline Then the Grinslade Co. had to build a sewerage line about a half mile from the city outlet at Riley Ave, and 20th 8t. to the development site, which now has all city utilities. All: Grinslade homes in Ritter Park are two bedroom houses with full basements, complete insulation, double floors, plastered walls and feature a double cabinet between kitchen and dining area, serving both. All - surpass minimum FHA requirements, he added. sy wt “We are using bétter materials than ever in the construction of these homies. Our construction methods are the most modern, cutting time and waste to a minimum,” Mr. Krabbenhoft said. Plans Varied : The company has a variety of three basic floor plans which net about 10 different appearances. Further individuality is given to the homes by planned use of varied roofing styles and elevations, he added. Homes are built in groups of 50 each and the latest development is along 19th Pl. (see picture). Administration or conventional loan commitments, 1 Mr. Krabbenhoft, a registered civil engineer, served in the Naval civil engineering corps during the war. He joined the Grinslade firm six years ago.
js
keep going, #0 it’s being shipped | in by the boatload from Antwerp. |!
prices 3
“And this means that it is easier!
The firm is now about half} along 20th St. and 19th Pr. at Rit}!
built when the subdivision is com-
a year clearing title for the land|
All homes have Veteran|to
his sales staff at the Columbia
by firm president, Bruce Savage
House of Today Bruce Savage Co. Stars Are Honored
TOP: SELLERS—Mrs, Catherine Winchester ‘and Bill Allen of the Bruce Savage Co., who personally have accountéd for sales totaling almost $1.5 million, are awarded engraved wrist watches ft). Mr. Savage held a special breakfast Wednesday morning for
b, at which he announced that September had proven the com.
pany’s best month of a record year.
will
City’s Housing Challenge—
the Banks
Come Through?
Hall-Whistier Co. Opens New Office At 1711 E. 524 St.
“owes’’ the American people?
to realize it? And today is a good time to bring up the subject, for Indianapolis neéds the banker now more than ever. This area has been pinpointed by Washington brass as one of the nation’s most “critical defense areas.” And perhaps it is.
Marion County needs many homes and rental dwelling units, and it needs them fast, Builders say they'd like to build these units. The public says they'd like to live iA ‘em, But neither is possible without the needed credit. And that’s where the bankers’ debt comes in, ” » s THERE WAS a time when the banker folded his Grecian vault and silently stole away into bankruptcy darkness—the great depression.
To get him back into the home loan field again, Uncle Sam had subsidize him. The government had to guarantee his loans to people who wanted to build houses, or there wouldn't have been any houses built. And so for the past 16 years, the mortgage banker has been betting on a sure winner. He's
By DON TEVERBAUGH Times Real Estate Editor
I WONDER IF THE BANKER ever considers what he
Or the American way of life?
He's in debt to both, of course. But has he ever stopped
made plenty and with the full
knowledge that he couldn’t lose.
F gon Ee At NOW HE'S GRIPING about the odds. They aren’t high enough on this “sure thing.”
Sure, the banker has Been restricted in his loans to home buyers, just as the builder has been restricted in the type of
credit he could obtain, by federal
regulations. But these regulation bulldogs
Mr. Whistler Mr. Hall
The Hall-Whistler Co., recently organized North Side Realtors firm, opened their new offices at 1711 E. 524 St. this week. Their attractive new offices are
finished in knotty pine and fur-
will be called off in this: critica) inished with modern hickory and
area to encourage investment of money in housing, the government promises. Then what? Some bankers are worried about good will, They feel certain they'll get blackeyes if they have to start foreclosing on home mortgages. ” ” =
WHAT DO THEY THINK they're receiving now as they smile courteously and say “No” to responsible working folk
Continued on Page 41, Col. 4
Is Your Home Under-insured?
If .the insurance policy on your home was made 10 or more years ago, your home is almost certain to be under-insured, the Indianapolis Insurance Board warned this week. Here's why: During the past 10 years buildcosts have jumped more than
{sized home.
per cent. This means that
|the $6000 home of 1939 today is
at about $12,000 to
il And this, the board explains,
that should your home be yed, you'd receive little than enough money for a payment on a new si
white oak furniture. Another important factor for customers, they point out, is their offstreet parking facilities. Veterans in the real estate fleld, both Ken Whistler and Charles Hall are members of the Indianapolis: Real Estate Board. ce their firm was o last July 18, they have Srganind the following sales worth $180,000: 3902 Washington Blvd., 6520 Lennington St., 6459 Evanston Ave., 2311 E, 58th St. 5918 Olney St. 9000 E. 82d St., house at Springmill Rd. and 86th St. 3417 Ralston Ave. 1029 N, LaSalle St. 2522 E. 40th 8t., 5134 Rosslyn Ave., 3059 Forest Manor, 4233 Cornelius Ave, and property in Zionsville,
{the:bone in 1952.
|have to approve his plan and then
PAGE 39 Classified rr
Critical Defense Area Poses Threat of U.S. Mortgage Competition
Marion County homé builders and mortgage bankers called a quick huddle here last week to figure strategy with which to meet the critical defense area problems ahead. Both have a lot at stake. :
Home Production May Be Slowed By "52 Controls
By ROBERT F. LOFTUS United Press Sat Surreiasiain WASHINGTON, 29-—Eco-nomic Stabilizer Eric Johnston is Thing Look Favorable brewing a bitter dose of medicine| But things look favorable to for the nation’s builders in the Poth the builder and banker at {form of a plan to cut new home this time, leaders feit. jand commercial construction to The Federal Home Loan Bank was the swiftest to produce extra credit Yor the area. Fred Green, president, announced that the 17 savings and loan firms in Indianapolis now have an additional $10 use in
The builders are faced with the task of building the housing programmed by Washington for this area—and at government prices, Or they will be forced to compete with federally financed, tax exe empt public housing. The mortgage men have to pro vide necessary credit for the builders, or face the possibility that the government will dump billions of dollars into the home
with private funds,
His big job is to make the builders swallow it. : The builders operate a pretty powerful lobby in Washington, and they served notice that they intend to buttonhole every lawmaker in the Capitol if necessary to block the Johnston scheme. The Economic Stabilizer refused to say how much he thinks 1952 tions building should be cut. But heiserve told the United Press the cutbackjall a will have to be a stiff one if his|the President sees fit, perhaps may agency is going to make anyibe on all headway in its fight against in-|building. flation. “There’ He said his staff is drafting a Earl set of recommendations fot sub-|the mission within the week orition, “credit is
: 1
programming , and even|of defense housing for the area, FHA
not cleared by Wilson, drew an| “That was oné of the big reaimmediate blast of protest from sons why the “critical p
ing
terials. : Builders Protest Certainly The National Association of|ing and credit controls, IndianHome Builders said any cut in|apolis and Marion County stand the housing program now planned a far better chance of getting for 1952 would be a “tragic mis-|much needed rental housing, Mr, take” that would hurt not only|Peters of the FHA pointed out.: their business but the defense| He spoke of the new credit set workers and service families who up, under which builder may get are clamoring for’ homes around|loans up to 90 per cent of the newly activated defense areas. |project’s assessed value, with a The Industry turned out about|$3 million top for any single 1 million homes in 1950, including|project. public, projects, and this year the| It was under a similar plan
* |government 1s trying to hold it|that most of the World War II
dowfi to about 850,000 although rental projects were built here, the final figure probably will be Mr. Peters added.
i All Architects
A spokesman for the association pointed out- that the 850,000 figure is a 40 per cent cut from 1950 and that any further cut would not be warranted, either as ht | an anti-inflation or materials con- Invited to Seek servation measure, He said the builders believe a j million homes a year is the mini- » mum needed to house new fam- ome ow lize Jie and replace dwellings that come obsolete each year or are destroyed by fire, A oa files All professional and student As for materials, the spokesman architectual designers have been said the industry can put up 1|invited to compete in the annual glllion houses 2 Year With 2) per Home Show contest to select a e nation’s steel produc- model : tion and 7 per cent of the copper. a the Jo = Johnston, who has been in one Reeder announced this week : fight after another ever since he| The model selected will be built took on the stabilization job last antl featured as the centerpiece January, was unimpressed by the|or the Home Show. builders’ arguments, He said Competition rules and applicabuilding has to slow down if in-|tions this week- were mailed to flation is to be held in check and|all members of the Indiana Sothat he intends to press for quick ciety of Architects, A, I. A. all action on his plan. colleges and universities with architectual departments, and to all publications in the housing eld.
Deadline, Dec. 16
Entries in the competition must be postmarked not later than midnight, December 16, 1951. The winning award will be announced Jan, 10, 1952. Mr. Reeder said the winner would be selected from a jury composed of James T. Lendrum, director of the Small Homes Council, University of. Illinois;
mortgage field in competition .
indicated, if the
Bankers Rally To Meet Crisis